Maintenance of agricultural machinery plays an important role in successful agricultural production. Proper maintenance of agricultural machinery helps in the safety, while performing cultivation activities. Increase in the demand for agricultural products has led to the improvement in maintenance of agricultural machineries. Various agricultural machineries such as tillage equipment, planting machines, plant thinning machines, fertilizer machines, and balling machines need to undergo thorough lubrication process under specific conditions. There are many different factors such as different variety of crops, moisture content in crops, field slope etc. which leads machinery to undergo lubrication process. Due to many technological advancement companies have manufactured automatic lubrication systems, to provide continuous indications of component conditions based on techniques including vibration monitoring, acoustics analysis, oil analysis, tribology, thermography, process parameter monitoring, visual inspections, and other nondestructive testing techniques. Farmers also face various technical challenges in handling heavy machinery and equipment. The farmers has less seasonal time to cultivate and harvest crops. During this activity, lubricants play an important role in helping machineries to function smoothly. Important machineries such as tractors, balers, harrows, ploughs, and fertilizer spreaders have extensive work load. This work load on machinery leads to lubrication of bearings, joints, or gears driven parts. Agricultural machinery lubricants are used in order to prevent damage caused by friction, heat, stresses etc. Agricultural machinery lubricants also help reduce wear, extend equipment life, and lower re-lubrication intervals. The combination of proper lubrication and preventing contaminant ingress can help lower machine failure by 60%. Lubricants plays an important role in agricultural machinery where the cost of equipment and components are high. The usage of correct lubricator helps farmers extend component life, increase uptime, and lower repair cost.
Based on type, the global agricultural lubricants market can be segregated into mineral oil lubricants, synthetic lubricants, and bio-based lubricants. Mineral oil lubricants are light mixtures of alkanes and cyclic paraffins. They are available in light and heavy grades depending upon the usage and requirement. Synthetic lubricants help protect low-emission engines and exhaust systems by reducing deposits, soot, and oil consumption. Synthetic lubricants are formulated from quality synthesized base stocks. These synthetic lubricants have low channel points and high viscosity index. Bio-based lubricants can be defined as materials that are based on biodegradable and renewable stock. Bio-lubricants are not directly composed of vegetable oil base stocks. They can also be produced from renewable oils such as fatty acids and oils reacted with synthetic alcohols or polyols.
Based on oil, the global agricultural machinery lubricants market can be divided into farm engine oils, hydraulic oils, multipurpose oils, gear oils and others. Engine oils are primarily used in advanced agricultural machines and mobile farm equipment which are used in harsh climatic conditions. Engine oils helps in providing long life to the engine with low maintenance cost. It also helps in maintaining high level of corrosion protection to optimize engine performance. Multipurpose oils are specially used for gear drives, power-shift torque converters, differentials, wet brakes, and hydraulic systems of high performance agricultural machinery. Gear oils are majorly used for transmissions and differentials. They possess excellent oxidation stability and help the machinery perform extremely well even in high operating temperatures. They act as reliable lubricating films even in heavy loads by preventing wear and corrosion of the machinery. Hydraulic oils have outstanding thermal and mechanical stability. They are used in outdoor applications and in hydraulic systems that are operated in wide temperature range.
Based on application, the global agricultural machinery lubricants market can be divided into engines, gear and transmission, hydraulics, greasing and implements. The use of agricultural lubricants in engines helps to protect against sludge and harmful deposits. In addition, the use of lubricants also improves the fuel economy of agricultural equipment. The agricultural machinery lubricants are used in greasing where the greases are used in wet conditions due to their good water resistance qualities. Greases also offer excellent load bearing capabilities, which help in providing long life to the equipment.
Based on geography, the global agricultural machinery lubricants market can be classified into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. North America and Europe are the significant regions of the global agricultural machinery lubricants market. Decrease in agricultural labor force in developed and emerging nations has led to an increase in the use of farm machineries such as tractors. This, in turn, has boosted the demand for lubricants that are used in such machineries. Companies operating in the agricultural machinery lubricants market in Asia Pacific are investing significantly in research and development activities.
Prominent players operating in the global agricultural machinery lubricants market include Exxon Mobil Corporation, Royal Dutch Shell plc, Chevron Corporation, and Total S.A. These companies hold significant share of the market. Thus, the agricultural machinery lubricants market experiences intense competition.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.