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Gear Oil Market Comprehensive Analysis by Top Vendors – Royal Dutch Shell Plc, BP p.l.c., Lukoil, Total Lubrifiants, PetroChina Company Limited, Idemitsu Kosan Co., Ltd, Sinopec Corp.

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Gear Oil Market Comprehensive Analysis by Top Vendors – Royal Dutch Shell Plc, BP p.l.c., Lukoil, Total Lubrifiants, PetroChina Company Limited, Idemitsu Kosan Co., Ltd, Sinopec Corp.

Global Gear Oil MarketPress Release

The report begins from overview of Industry Chain structure, and describes industry environment, then analyses market size and forecast of Gear Oil by product, region and application, in addition, this report introduces market competition situation among the vendors and company profile, besides, market price analysis and value chain features are covered in this report.

Gear Oil market accounted for USD 7.34 billion and is projected to grow at a CAGR of 2.70% during the forecasting to 2024.

Gear oil is a lubricant made specifically for differentials in automobile transmissions and transfer cases. Gear oil is characterized by high viscosity in order to protect the gears by reducing the friction and wear& tear of the gear tooth surfaces, evacuation of the heat created by the operating gear and corrosion protection of the gear parts.

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Competitive Analysis:

The global gear oil market is consolidated due to the presence of limited number of players concentrated in few countries. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market. 

Global Gear Oil Market Base Oil {Mineral Oil, Synthetic Oil (PAO, PAG, Group III (Hydrocracking), Esters), Semi-Synthetic Oil, Bio-Based Oil)}, Application {General Industrial (Manufacturing, Mining, Construction, Agriculture, Oil & Gas, Others), Transport (Automotive, Marine, Railway, Aviation)}, Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) 

Major Market Drivers and Restraints:

Rising demand from power industry

Improved quality of gear oils

Growing automotive industry

Strict environmental regulations restricting the use of gear oils 

Major Market Competitors:

Some of the major players operating in global gear oil market are Exxon Mobil Corporation, Chevron Corporation, Royal Dutch Shell Plc, BP p.l.c., Lukoil, Total Lubrifiants, PetroChina Company Limited, Idemitsu Kosan Co., Ltd, Sinopec Corp., CITGO Petroleum Corporation, Apar Industries Ltd., FUCHS, and The Lubrizol Corporation among others. 

Market Segmentation:

On the basis of type, global gear oil market is segmented into mineral oil, synthetic oil, semi-synthetic oil and bio-based oil. Synthetic oil is sub segmented into poly-alpha-olefin(PAO), polyalkylene glycol (PAG) and Group III (hydrocracking).

On the basis application global gear oil market is segmented into general industrial and transportation. General industrial is sub segmented into manufacturing, mining, construction, agriculture, oil & gas and others, whereas transportation is sub segmented into automotive, marine, railway, and aviation. Transportation segment accounts for the highest consumption due to increasing usage gear oils in the automotive industry.

On the basis of geography, global gear oil market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.

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Key Insights in the report:

Historical and current market size and projection up to 2024.

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Trends of key regional and country-level markets for type, application, source, form and process

Company profiling of key players which includes business operations, product and services, geographic presence, recent developments and key financial analysis.

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