Data Bridge Market Research analyses that the gear oils market will witness a CAGR of 2.50% for the forecast period of 2021-2028. Rising technological advancements to provide better quality of gear oils and rising demand from the power industry are the two major factors attributable to the growth of gear oils market. Growth and expansion of the various end user verticals would imply growth in the demand for gear oils globally. Increased expenditure for research and development activities coupled with rising technological advancements to provide better quality of gear oils will further create lucrative market growth opportunities. Upsurge in the demand for automobiles owing to the rising population and personal disposable income is another important factor fostering the growth of gear oils market. Decline in the prices of offshore industry has led to increased demand for wind power generation which in turn has induced growth in the demand for gear oils.
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Market Analysis and Insights
Gear oil is a lubricant that is used in automobiles and other machineries with gears. Gear oils contain contains organosulfur compounds and have high viscosity. Gear oil is important as it protects the gear equipment against unnecessary wear and tear and heat. Gear oils smoothens the transmission in vehicles and machineries in industries and further increases their life and productivity. Gear oils are used in a wide range of applications such as manufacturing, mining, construction and heavy equipment, agriculture, metallurgy and metalworking, oil and gas, power generation, transport and others. This gear oils market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on gear oils market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
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Gear Oils Market Scope
- The gear oils market is segmented on the basis of base oil, product type and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of base oil, the gear oils 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), group III (hydrocracking) and esters.
- On the basis of product type, the gear oils market is segmented into transportation and industrial. Transportation segment is sub-segmented into manual gearbox, automatic gearbox (CVT, DCT, etc.), axle oils.
- On the basis of application, the gear oils market is segmented into manufacturing, mining, construction and heavy equipment, agriculture, metallurgy and metalworking, oil and gas, power generation, transport and others. Transportation segment is sub-segmented into automotive, marine, railway and aviation
Competitive Landscape and Gear Oils Market Share Analysis
The gear oils market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to gear oils market.
The major players covered in the gear oils market report are
Shell group of companies, China Petrochemical Corporation., Exxon Mobil Corporation., Chevron Corporation., bp p.l.c., FUCHS, Total, Phillips 66 Company., Saudi Arabian Oil Co., LUKOIL, Idemitsu Kosan Co., Ltd., CASTROL LIMITED, LIQUI MOLY GmbH, Calumet Specialty Products Partners, L.P., Morris Lubricants, Penrite Oil, Carl Bechem GmbH, Valvoline Inc., Peak Lubricants Pty Ltd and Indian Oil Corporation Ltd among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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