Asia-Pacific agricultural lubricants market is projected to register a CAGR of 4.3% in the forecast period of 2020 to 2027. The new market report contains data for historic year 2018, the base year of calculation is 2019 and the forecast period is 2020 to 2027.
Asia-Pacific Agricultural Lubricants Market By Type (Engine Oil, Grease, Hydraulic Oils, Transformer Oil, Crankcase Oils, Bar and Chain Oil, Others), Raw Material (Petroleum Based Lubricants and Bio-Based Lubricants), Application (Engines, Gear & Transmission, Hydraulics, Greasing, Chain, Implements, Others), Agricultural Equipment (Tractors, Harvesters, Corn-Pickers, Balers, Verge Cutters, Circular Spike Harrows, Stone Grinders, Fertiliser Spreaders, Slurry Tankers, Sprayers, Fodder Mixers, Silage Spreaders, Straw Blowers, Mowers and Mower-Conditioners, Hay Tedders, Hay Rakes, Bale Wrappers, Grape Harvesting Machines and Others), Country (Japan, China, South Korea, India, Australia and New Zealand, Taiwan, Hong-Kong, Singapore, Thailand, Malaysia, Indonesia, Philippines and Rest of Asia-Pacific) Industry Trends and Forecast to 2027
Some of the major factors contributing to the growth of the agricultural lubricants market:
- Government is promoting the mechanization in agricultural sector by various initiatives such as by offering financial help and subsidies
- Growing adoption of agricultural tractors, corn-pickers and other agricultural machinery to increase the productivity is boosting the demand for agricultural lubricants
The major players of Asia-Pacific agricultural lubricants market are:
- Royal Dutch Shell plc
- BP p.l.c.
- Chevron Corporation
- Exxon Mobil Corporation
- Eni S.p.A.
- The Bahrain Petroleum Company B.S.C.
- Gulf Oil International