PUNE, India, December 12, 2017 /PRNewswire/ --
The report "Agricultural Lubricants Market by Type (Mineral Oil Lubricants, Synthetic Lubricants, Bio-Based Lubricants), Application (Engines, Gear & Transmission, Hydraulics, Greasing, Implements), and Region - Global Forecast to 2022" published by MarketsandMarkets™, the global market is projected to grow from an estimated USD 1.96 Billion in 2017 to USD 2.48 Billion by 2022, at a CAGR of 4.8% from 2017 to 2022.
Browse 164 market data Tables and 31 Figures spread through 181 Pages and in-depth TOC on "Agricultural Lubricants Market"
Early buyers will receive 10% customization on this report
The growth of the agricultural lubricants market is driven by the rising mechanization of farms. Farm equipment is being employed to sow, till, and harvest farms, which has resulted in increased yields. Rising population in the Asia Pacific region has necessitated increase in farm production, which in turn, is leading to an increasing demand for agricultural lubricants.
Get PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=262710114
The bio-based lubricants segment is estimated to be the fastest-growing type segment of the agricultural lubricants market in 2017
Based on type, the bio-based lubricants segment is estimated to account for the largest share of the agricultural lubricants market in 2017. Use of bio-based lubricants can help control pollution as these are bio-degradable and, hence, can be directly released into the environment. The environment-friendly nature of these lubricants is expected to drive the bio-based lubricants market during the forecast period.
The engines segment is estimated to be the fastest-growing application segment of the agricultural lubricants market in 2017
Based on application, the engines segment is estimated to be the largest application segment of the agricultural lubricants market in 2017. Engine oils are used in agricultural equipment to provide wear protection to engines, and provide enhanced performance at extremely high or low temperatures. The reason for growth of this application segment is the growing mechanization of farms in the Asia Pacific region.
Asia Pacific is expected to witness the highest growth in the agricultural lubricants market during the forecast period
China and India are large consumers of farm tractors, and therefore, agricultural lubricants. Increasing support from governments, combined with increasing labor costs are encouraging farmers to adopt mechanization on a high scale. This, in turn, is expected to lead to the growth of the agricultural lubricants market in the region.
Inquiry before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_Buying.asp?id=262710114
Key players in the Agricultural Lubricants Market include Chevron (US), ExxonMobil (US), Fuchs Petrolub (Germany), Shell (The Netherlands), Total (France), BP p.l.c. (UK), and Phillips 66 (US), among others.
Browse Related Reports
Lubricants Market By Type (Mineral Oils, Synthetic Lubricants, Bio-Based, Greases), Application (Transportation, Industrial Machinery & Equipment), and Region (APAC, EU, NA, MEA, SA) - Global Forecast to 2021
Mining Lubricants Market By End-use Industry (Coal Mining, Iron Ore Mining, Bauxite Mining, Rare Earth Mineral Mining, Precious Metals Mining), Type (Mineral Oil Lubricants, Synthetic Lubricants), and Region - Global Forecast to 2022
Know More About our Knowledge Store @ http://www.marketsandmarkets.com/Knowledgestore.asp
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
630 Dundee Road
Northbrook, IL 60062
Visit Our Blog @ http://www.marketsandmarketsblog.com/market-reports/chemical
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets