The Global Agricultural Lubricants Market Taking Off: GMI Research
The market of Agricultural Lubricants recorded a revenue of USD 3.3 billion in 2021 and is anticipated to touch USD 4.7 billion in 2029, increasing at the fastest CAGR of 4.6% in the forecast period of 2022-2029. The significant growth in the acceptance of innovative equipment and machinery in agriculture, such as harvesters, tractors, and irrigation systems is a foremost aspect fostering demand in the global agricultural lubricants market. The robust demand for lubricants arises from the imperative to guarantee the seamless operation and maintenance of equipment. The advent of modernization and mechanization has allowed large-scale and more effective agriculture functions, subsequently driving up the requirement for lubricants to confirm machinery functions smoothly and to decrease downtime.
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