India Agricultural Lubricants Market Outlook

india’s agricultural lubricant market is projected to grow exponentially in the years to follow. this growth is fuelled by the increasing awareness of the benefits of lubricants, advances in farming technologies, improving living standards, and availability of affordable lubricants. more farmers are opting for advanced agricultural equipment and machinery in order to increase yields while reducing costs. lubricant use for efficient operation of these advanced machines, and reduced maintenance requirements, is expected to have a positive impact on the demand of lubricants in the agricultural sector. in the indian market, agricultural lubricants are primarily used for enhanced performance and for the protection of the machinery parts. in the next 12 years, their demand is expected to grow substantially as the rising government focus towards improving agricultural productivity will lead to a shift towards adoption of advanced farming practices. evolving customer preferen... ces and their desire to improve farming yields and gain access to superior technology will be a positive factor for the market growth. the range of agricultural lubricants available in india is also growing, owing to rapid advances in the industry. lubricant products such as grease, fluids, and oils are available in several specialty types for use in the farming sector. the quality and performance of these products vary depending on the type of farming machinery used, the operating environment, and the customer requirement. customers are preferring high quality, long-lasting, and cost-effective lubricants due to their enhanced economic benefits. the indian government has also introduced various initiatives and grants to promote the use and development of agricultural lubricants. a reduced goods and services tax rate of 12% has been proposed in the union budget 2021-22, along with the continued focus on the pradhan mantri fasal bima yojana scheme. this will ensure farmers get a higher return on their investment, thus ultimately benefiting the market for agricultural lubricants. the rise in agricultural productivity has also resulted in the increase in agricultural exports from india. this will help to sustain the demand for agricultural lubricant products in the country over the next 12 years. furthermore, rising agro-processing industries and cross-border trading activities have emerged as opportunities for the lubricant manufacturers. thus, with such growth prospects it can be said that india's agricultural lubricant market is set to experience significant growth in the near future, and will be prosperous for manufacturers and consumers alike.   Read more