Agricultural Lubricants Market Size is projected to reach USD 3.893 Billion by 2031, growing at a CAGR of 2.77%: Straits Research

New York, United States, Sept. 06, 2023 (GLOBE NEWSWIRE) -- Lubricants used to increase the efficiency of agricultural machinery are an indispensable component of the farming industry. Using agricultural lubricants is a cost-effective tactic since it extends machinery life by preventing wear and tear, lowers repair costs, and avoids needing to replace products too soon. Agriculture productivity and yield are increased by using modern equipment. A superior lubricating system for agricultural equipment ensures that the machinery requires less maintenance, has lower operating costs, and has a longer lifespan.

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Soaring Demand for Farm Mechanization Drives the Global Market

Mechanized agriculture employs agricultural machinery to automate agricultural chores, resulting in a substantial increase in farm labor productivity. The relevance of farm mechanization has increased in recent years. This broad term includes the production, distribution, and use of diverse agricultural instruments, machinery, and equipment for land development, planting, harvesting, and primary processing. Due to innovative and contemporary products, powered farm equipment is replacing traditional methods. The tractor is the most frequent farm mechanization tool. Modern mechanized agriculture uses tractors, trucks, combine harvesters, and other vehicles to increase crop yields. Consequently, better investments and strategies are executed in accordance with the demand of the farm sector, which will spur growth in the agriculture sector, machinery, and lubricants over the projection period.

Advancements in Agricultural Technology Creates Tremendous Opportunities

Farmers have become aware of innovative ideas and strategies, such as using inorganic compost, that improves agricultural yields, increase energy efficiency, and reduces expenses. A growing understanding of the importance of technology in agriculture has prompted technological innovation. This technological advancement is the result of a growth in the usage of farm tractors and other agricultural machinery, which has improved the market productivity of lubricants. Tractors are one of the many types of agricultural machinery. They are utilized on farms for various purposes, including the carriage of heavy gear and the movement of trailers for tilling, plowing, harrowing, and planting. Integrating modern technology, such as telematics systems and GPS, into farm tractors is anticipated to increase the need for agricultural machinery. These factors increase the demand for lubricants in agricultural tractors, offering growth prospects for the market.

Report Scope

Report Metric	Details
Market Size by 2031	USD 3.893 Billion
Market Size in 2022	USD 3.044 Billion
CAGR	2.77% (2023-2031)
Historical Data	2020-2021
Base Year	2022
Forecast Period	2023-2031
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	By Type, By Product, By Distribution Channels
Geographies Covered	North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors	Fuchs, Repsol, Exxon Mobil Corporation, Morris Lubricants, Unil Lubrication, TotalEnergies, Condat, Exol Lubricants Ltd., Cougar Lubricants, Dyade Lubricants, Shell, Valvoline, BP, Petro-Canada Lubricants, Phillips 66, Chevron Corporation, Panolin AG.
Key Market Opportunities	Advancements in Agricultural Technology
Key Market Drivers	Soaring Demand for Farm Mechanization

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Regional Analysis

Asia-Pacific is the most significant shareholder in the global agricultural lubricants market and is anticipated to grow at a CAGR of 3.40% during the forecast period. Due to urbanization and industrialization, the region has experienced a tremendous expansion in investments, trade, and technology. Consequently, the industry's enablers will be demography, economic conditions, environmental conditions, and technological advances. The automation of landscapes will continue to increase the demand for agriculture and agricultural equipment. China dominates the Asia-Pacific agricultural lubricants market due to increased government initiatives to manufacture sustainable agricultural machinery in the region, hence driving the demand for agricultural lubricants.

North America is anticipated to develop at a CAGR of 2.09% over the forecast period. The growing demand for organic products is expected to raise the demand for agriculture, resulting in a significant increase in the need for agricultural lubricants. The United States dominates the agricultural lubricants market in North America due to the increasing adoption of agricultural machinery to reduce total production costs and boost productivity in the region, hence driving the market. At the onset of the pandemic, the demand for fresh and organic foods in North America increased, producing a need for organic farms and, concurrently, for agriculture. People now choose organic foods, which should offer chances for organic farming, agricultural equipment, and lubricants.

Key Highlights

• The global agricultural lubricants market size is estimated to reach USD 3.893 billion by 2031, growing at a CAGR of 2.77% during the forecast period (2023–2031).
• By type, the global agricultural lubricants market is divided into mineral oil-based, synthetic oil-based, and bio-based. The mineral oil-based segment owns the highest market share and is anticipated to grow at a CAGR of 2.35% over the forecast period.
• By product, the global agricultural lubricants market is divided into engine oils, grease, transmission and gear oils, hydraulic oil, and others. The engine oil segment is the highest contributor to the market and is expected to grow at a CAGR of 2.34% during the forecast period.
• By distribution channel, the global agricultural lubricants market is divided into offline and online channels. The offline segment owns the highest market share and is expected to grow at a CAGR of 2.39% for the forecast period.
• Asia-Pacific is the most significant shareholder in the global agricultural lubricants market and is anticipated to grow at a CAGR of 3.40% during the forecast period.

Competitive Players

The key players in the global agricultural lubricants market are Fuchs, Repsol, Exxon Mobil Corporation, Morris Lubricants, Unil Lubrication, TotalEnergies, Condat, Exol Lubricants Ltd., Cougar Lubricants, Dyade Lubricants, Shell, Valvoline, BP, Petro-Canada Lubricants, Phillips 66, Chevron Corporation, and Panolin AG.

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Global Agricultural Lubricants Market: Segmentation

By Type

• Mineral Oil-Based
• Synthetic Oil-Based
• Bio-Based

By Product

• Engine Oils
• Grease
• Transmission and Gear Oils
• Hydraulic Oil
• Others

By Distribution Channels

• Offline
• Online

By Regions

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa

TABLE OF CONTENT

1. EXECUTIVE SUMMARY
2. RESEARCH SCOPE & SEGMENTATION
   1. Research Objectives
   2. Market Definition
   3. Limitations & Assumptions
   4. Market Scope & Segmentation
   5. Currency & Pricing Considered
3. MARKET OPPORTUNITY ASSESSMENT

3. 1. Emerging Regions / Countries
   2. Emerging Companies
   3. Emerging Applications / End Use
   4. Investment Landscape
   5. New Business Models / Revenue Streams
   6. TAM

4. MARKET TRENDS

4. 1. Drivers
   2. Market Warning Factors
   3. Latest Macro Economic Indicators
   4. Geopolitical Impact
   5. Human Factors
   6. Technology Factors

5. MARKET ASSESSMENT

5. 1. Porters Five Forces Analysis
   2. Value Chain Analysis
   3. Raw Material Analysis
   4. Sales And Distribution Channel Analysis
   5. Trade Analysis
   6. Patent Analysis
   7. M & A Agreements & Collabration Analysis
   8. Export Import Analysis
   9. Cost Structure Analysis

6. ESG TRENDS
7. GLOBAL AGRICULTURAL LUBRICANTS MARKET SIZE ANALYSIS

7. 1. Global Agricultural Lubricants Market Introduction
   2. By Type

7. 2. 1. Introduction

1. 1. 1. 1. Type By Value

7. 2. 2. Mineral Oil-Based

1. 1. 1. 1. By Value

7. 2. 3. Synthetic Oil-Based

1. 1. 1. 1. By Value

7. 2. 4. Bio-Based

1. 1. 1. 1. By Value

7. 3. By Product

7. 3. 1. Introduction

1. 1. 1. 1. Product By Value

7. 3. 2. Engine Oils

1. 1. 1. 1. By Value

7. 3. 3. Grease

1. 1. 1. 1. By Value

7. 3. 4. Transmission And Gear Oils

1. 1. 1. 1. By Value

7. 3. 5. Hydraulic Oil

1. 1. 1. 1. By Value

7. 3. 6. Others

1. 1. 1. 1. By Value

7. 4. By Distribution Channels

7. 4. 1. Introduction

1. 1. 1. 1. Distribution Channels By Value

7. 4. 2. Offline

1. 1. 1. 1. By Value

7. 4. 3. Online

1. 1. 1. 1. By Value

8. NORTH AMERICA MARKET ANALYSIS

8. 1. Introduction
   2. By Type

8. 2. 1. Introduction

1. 1. 1. 1. Type By Value

8. 2. 2. Mineral Oil-Based

1. 1. 1. 1. By Value

8. 2. 3. Synthetic Oil-Based

1. 1. 1. 1. By Value

8. 2. 4. Bio-Based

1. 1. 1. 1. By Value

8. 3. By Product

8. 3. 1. Introduction

1. 1. 1. 1. Product By Value

8. 3. 2. Engine Oils

1. 1. 1. 1. By Value

8. 3. 3. Grease

1. 1. 1. 1. By Value

8. 3. 4. Transmission And Gear Oils

1. 1. 1. 1. By Value

8. 3. 5. Hydraulic Oil

1. 1. 1. 1. By Value

8. 3. 6. Others

1. 1. 1. 1. By Value

8. 4. By Distribution Channels
      1. Introduction

1. 1. 1. 1. Distribution Channels By Value

8. 4. 2. Offline

1. 1. 1. 1. By Value

8. 4. 3. Online

1. 1. 1. 1. By Value

8. 5. U.S.

8. 5. 1. By Type

1. 1. 1. 1. Introduction
            1. Type By Value
         2. Mineral Oil-Based
            1. By Value
         3. Synthetic Oil-Based
            1. By Value
         4. Bio-Based
            1. By Value

8. 5. 2. By Product

1. 1. 1. 1. Introduction
            1. Product By Value
         2. Engine Oils
            1. By Value
         3. Grease
            1. By Value
         4. Transmission And Gear Oils
            1. By Value
         5. Hydraulic Oil
            1. By Value
         6. Others
            1. By Value

8. 5. 3. By Distribution Channels

1. 1. 1. 1. Introduction
            1. Distribution Channels By Value
         2. Offline
            1. By Value
         3. Online
            1. By Value

8. 6. Canada

9. EUROPE MARKET ANALYSIS

9. 1. Introduction
   2. By Type

9. 2. 1. Introduction

1. 1. 1. 1. Type By Value

9. 2. 2. Mineral Oil-Based

1. 1. 1. 1. By Value

9. 2. 3. Synthetic Oil-Based

1. 1. 1. 1. By Value

9. 2. 4. Bio-Based

1. 1. 1. 1. By Value

9. 3. By Product

9. 3. 1. Introduction

1. 1. 1. 1. Product By Value

9. 3. 2. Engine Oils

1. 1. 1. 1. By Value

9. 3. 3. Grease

1. 1. 1. 1. By Value

9. 3. 4. Transmission And Gear Oils

1. 1. 1. 1. By Value

9. 3. 5. Hydraulic Oil

1. 1. 1. 1. By Value

9. 3. 6. Others

1. 1. 1. 1. By Value

9. 4. By Distribution Channels

9. 4. 1. Introduction

1. 1. 1. 1. Distribution Channels By Value

9. 4. 2. Offline

1. 1. 1. 1. By Value

9. 4. 3. Online

1. 1. 1. 1. By Value

9. 5. U.K.

9. 5. 1. By Type

1. 1. 1. 1. Introduction
            1. Type By Value
         2. Mineral Oil-Based
            1. By Value
         3. Synthetic Oil-Based
            1. By Value
         4. Bio-Based
            1. By Value

9. 5. 2. By Product

1. 1. 1. 1. Introduction
            1. Product By Value
         2. Engine Oils
            1. By Value
         3. Grease
            1. By Value
         4. Transmission And Gear Oils
            1. By Value
         5. Hydraulic Oil
            1. By Value
         6. Others
            1. By Value

9. 5. 3. By Distribution Channels

1. 1. 1. 1. Introduction
            1. Distribution Channels By Value
         2. Offline
            1. By Value
         3. Online
            1. By Value

9. 6. Germany
   7. France
   8. Spain
   9. Italy
   10. Russia
   11. Nordic
   12. Benelux
   13. Rest Of Europe

10. APAC MARKET ANALYSIS

10. 1. Introduction
    2. By Type

10. 2. 1. Introduction

1. 1. 1. 1. Type By Value

10. 2. 2. Mineral Oil-Based

1. 1. 1. 1. By Value

10. 2. 3. Synthetic Oil-Based

1. 1. 1. 1. By Value

10. 2. 4. Bio-Based

1. 1. 1. 1. By Value

10. 3. By Product

10. 3. 1. Introduction

1. 1. 1. 1. Product By Value

10. 3. 2. Engine Oils

1. 1. 1. 1. By Value

10. 3. 3. Grease

1. 1. 1. 1. By Value

10. 3. 4. Transmission And Gear Oils

1. 1. 1. 1. By Value

10. 3. 5. Hydraulic Oil

1. 1. 1. 1. By Value

10. 3. 6. Others

1. 1. 1. 1. By Value

10. 4. By Distribution Channels

10. 4. 1. Introduction

1. 1. 1. 1. Distribution Channels By Value

10. 4. 2. Offline

1. 1. 1. 1. By Value

10. 4. 3. Online

1. 1. 1. 1. By Value

10. 5. China

10. 5. 1. By Type

1. 1. 1. 1. Introduction
            1. Type By Value
         2. Mineral Oil-Based
            1. By Value
         3. Synthetic Oil-Based
            1. By Value
         4. Bio-Based
            1. By Value

10. 5. 2. By Product

1. 1. 1. 1. Introduction
            1. Product By Value
         2. Engine Oils
            1. By Value
         3. Grease
            1. By Value
         4. Transmission And Gear Oils
            1. By Value
         5. Hydraulic Oil
            1. By Value
         6. Others
            1. By Value

10. 5. 3. By Distribution Channels

1. 1. 1. 1. Introduction
            1. Distribution Channels By Value
         2. Offline
            1. By Value
         3. Online
            1. By Value

10. 6. Korea
    7. Japan
    8. India
    9. Australia
    10. Taiwan
    11. South East Asia
    12. Rest Of Asia-Pacific

11. MIDDLE EAST AND AFRICA MARKET ANALYSIS

11. 1. Introduction
    2. By Type

11. 2. 1. Introduction

1. 1. 1. 1. Type By Value

11. 2. 2. Mineral Oil-Based

1. 1. 1. 1. By Value

11. 2. 3. Synthetic Oil-Based

1. 1. 1. 1. By Value

11. 2. 4. Bio-Based

1. 1. 1. 1. By Value

11. 3. By Product

11. 3. 1. Introduction

1. 1. 1. 1. Product By Value

11. 3. 2. Engine Oils

1. 1. 1. 1. By Value

11. 3. 3. Grease

1. 1. 1. 1. By Value

11. 3. 4. Transmission And Gear Oils

1. 1. 1. 1. By Value

11. 3. 5. Hydraulic Oil

1. 1. 1. 1. By Value

11. 3. 6. Others

1. 1. 1. 1. By Value

11. 4. By Distribution Channels

11. 4. 1. Introduction

1. 1. 1. 1. Distribution Channels By Value

11. 4. 2. Offline

1. 1. 1. 1. By Value

11. 4. 3. Online

1. 1. 1. 1. By Value

11. 5. UAE

11. 5. 1. By Type

1. 1. 1. 1. Introduction
            1. Type By Value
         2. Mineral Oil-Based
            1. By Value
         3. Synthetic Oil-Based
            1. By Value
         4. Bio-Based
            1. By Value

11. 5. 2. By Product

1. 1. 1. 1. Introduction
            1. Product By Value
         2. Engine Oils
            1. By Value
         3. Grease
            1. By Value
         4. Transmission And Gear Oils
            1. By Value
         5. Hydraulic Oil
            1. By Value
         6. Others
            1. By Value

11. 5. 3. By Distribution Channels

1. 1. 1. 1. Introduction
            1. Distribution Channels By Value
         2. Offline
            1. By Value
         3. Online
            1. By Value

11. 6. Turkey
    7. Saudi Arabia
    8. South Africa
    9. Egypt
    10. Nigeria
    11. Rest Of MEA

12. LATAM MARKET ANALYSIS

12. 1. Introduction
    2. By Type

12. 2. 1. Introduction

1. 1. 1. 1. Type By Value

12. 2. 2. Mineral Oil-Based

1. 1. 1. 1. By Value

12. 2. 3. Synthetic Oil-Based

1. 1. 1. 1. By Value

12. 2. 4. Bio-Based

1. 1. 1. 1. By Value

12. 3. By Product

12. 3. 1. Introduction

1. 1. 1. 1. Product By Value

12. 3. 2. Engine Oils

1. 1. 1. 1. By Value

12. 3. 3. Grease

1. 1. 1. 1. By Value

12. 3. 4. Transmission And Gear Oils

1. 1. 1. 1. By Value

12. 3. 5. Hydraulic Oil

1. 1. 1. 1. By Value

12. 3. 6. Others

1. 1. 1. 1. By Value

12. 4. By Distribution Channels

12. 4. 1. Introduction

1. 1. 1. 1. Distribution Channels By Value

12. 4. 2. Offline

1. 1. 1. 1. By Value

12. 4. 3. Online

1. 1. 1. 1. By Value

12. 5. Brazil

12. 5. 1. By Type

1. 1. 1. 1. Introduction
            1. Type By Value
         2. Mineral Oil-Based
            1. By Value
         3. Synthetic Oil-Based
            1. By Value
         4. Bio-Based
            1. By Value

12. 5. 2. By Product

1. 1. 1. 1. Introduction
            1. Product By Value
         2. Engine Oils
            1. By Value
         3. Grease
            1. By Value
         4. Transmission And Gear Oils
            1. By Value
         5. Hydraulic Oil
            1. By Value
         6. Others
            1. By Value

12. 5. 3. By Distribution Channels

1. 1. 1. 1. Introduction
            1. Distribution Channels By Value
         2. Offline
            1. By Value
         3. Online
            1. By Value

12. 6. Mexico
    7. Argentina
    8. Chile
    9. Colombia
    10. Rest Of LATAM

13. COMPETITIVE ASSESSMENT

13. 1. Adoption Matrix
    2. Agricultural Lubricants Market Share By Manufacturers
    3. Agricultural Lubricants Market Ranking By Revenue For Manufacturers
    4. Average Price By Manufacturers
    5. Vendor Footprint Analysis

14. MARKET PLAYERS ASSESSMENT

14. 1. Fuchs

14. 1. 1. Overview
       2. Business Information
       3. Revenue
       4. ASP
       5. Gross Margin
       6. Swot Analysis
       7. Recent Developmments

14. 2. Repsol
    3. Exxon Mobil Corporation
    4. Morris Lubricants
    5. Unil Lubrication
    6. TotalEnergies
    7. Condat
    8. Exol Lubricants Ltd.
    9. Cougar Lubricants
    10. Dyade Lubricants
    11. Shell
    12. Valvoline
    13. BP
    14. Petro-Canada Lubricants
    15. Phillips 66
    16. Chevron Corporation
    17. Panolin AG.

15. RESEARCH METHODOLOGY

15. 1. Research Data

15. 1. 1. Secondary Data

1. 1. 1. 1. Major Secondary Sources
         2. Key Data From Secondary Sources

15. 1. 2. Primary Data

1. 1. 1. 1. Key Data From Primary Sources
         2. Breakdown Of Primaries

15. 1. 3. Secondary And Primary Research

1. 1. 1. 1. Key Industry Insights

15. 2. Market Size Estimation

15. 2. 1. Bottom-Up Approach
       2. Top-Down Approach
       3. Market Projection

15. 3. Research Assumptions

15. 3. 1. Assumptions

15. 4. Limitations
    5. Risk Assessment

16. APPENDIX

16. 1. Discussion Guide
    2. Customization Options
    3. Related Reports

17. DISCLAIMER

Table of Content and Figure @ https://straitsresearch.com/report/agricultural-lubricants-market/toc

Market News

• In December 2022, FuelBuddy joined forces with HPCL to enter the lubricant sector.
• In December 2022, TotalEnergies, QatarEnergy, and Petronas Petróleo Brasil Ltd. (PPBL) won the Agua Marinha block in Brazil's National Petroleum Agency's Open Acreage under Production Sharing Regime – 1st Cycle auction (ANP).

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