The gear oil is a fluid lubricant used for reducing friction and wearing of gear tooth surfaces in gearboxes. The fluid is specifically made lubricant used in automobiles, trucks, and other machinery for transmission, transfer cases, differentials. Gear oil mainly has base oil and additives as two critical components. Additives in gear oil are introduced to impart desirable properties while suppressing the undesired ones. Gear Oil is highly viscous and usually consists of organosulfur compounds. It removes the heat generated by the operating gear and also protects the gear parts against corrosion.
The gear oil market is anticipated to grow in the forecast period owing to improvements in the quality of gear oil coupled with rising demands from the wind energy sector. Massive industrial growth in the developing nations and the growing automotive industry, in particular, has boosted the growth of the gear oil market. However, stringent environmental regulations and increased drain intervals in automotive and industrial sector restrict the growth of the gear oil market. On the other hand, semi-synthetic and zinc free gear oils are likely to showcase growth opportunities for the gear oil market during the forecast period.
The key players influencing the market are:
- Gazprom Neft
- Chevron Phillips Chemical Company
- Fuchs Lubricants Co.
- LITASCO SA
- Sinopec Argentina Exploration and Production, Inc.
- Sinopec Canada
- Sinopec International Petroleum do Brasil Ltda.
- FUCHS Group
- Idemitsu Kosan Co., Ltd
- Sinopec Engineering Group Saudi Co. Ltd.
- This report provides a detailed study of Gear Oil market trends and forecast from 2019 to 2027, which assist to identify the prevailing market opportunities.
- In-depth coverage of the global Gear Oil market that includes drivers, restraints, and opportunities, helps professionals to understand the market behavior in a better way.
- This study further includes market analysis in terms of type and applications.
- Detailed study of the strategies of key leaders, partnerships, and acquisitions in the Gear Oil market is provided.
The global gear oil market is segmented on the basis of type and end-use industry. Based on type, the market is segmented as mineral oil, synthetic oil, semi-synthetic oil, and bio-based oil. On the basis of the end-use industry, the market is segmented as power generation, automotive & transportation, heavy equipment, metallurgy & metalworking, and others.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global gear oil market based on various segments. It also provides market size and forecast estimates from the year 2017 to 2027 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The gear oil market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The reports cover key developments in the gear oil market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market payers from gear oil market are anticipated to lucrative growth opportunities in the future with the rising demand for gear oil in the global market. Below mentioned is the list of few companies engaged in the gear oil market.
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