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Automotive Gear Oil Market Foreseen to Grow Exponentially over 2020 – Persistence Market Research

Press Release   •   Feb 28, 2017 02:00 EST

Automotive Gear Oil Market

The gear oils are standardised by American Petroleum Institute (API STANDARDS) based on the viscosity level and their use in automatic and manual transmission based vehicles. The different classification of the API includes GL-1, API GL-2, API GL-3, API GL-4, API GL-5 and API GL-6 and, SAE 75W-90, SAE 75W-140, SAE 80W-90, SAE 85W-140 and LS- for limited slip. For maximum transmission efficiency, gear oils must lubricate, cool and protect complete gear systems. It also supposes to transfer damaged particles away from the contact areas, guarantee protection against extreme pressure and temperature and reduce noise in the transmission operation.

Automotive Gear Oil Market:

TOC of this report is available upon request @ http://www.persistencemarketresearch.com/toc/2839

North America is the largest market for automotive gear oil mainly attributed to large volume of motor vehicle in this region, followed by Europe and Asia Pacific. The market is witnessing an escalating growth in Asia Pacific region. China, in recent years, has become the global hub for the automobile industry. Some of the other region in Asia Pacific such as India, Indonesia, Malaysia, Thailand and Philippines have emerged as the largest small cars markets in the world.

Growing middle class, rising disposable income, developing surface transportation infrastructure, growing aspiration of owning private vehicles, increasing mobility due to development of satellite township near megacities and increase demand of goods carriers from micro, small and medium size enterprises are fueling the market for automotive gear oil in Asia Pacific region. Growing automotive aftermarket and do it yourself (DIY) culture in North America and Europe is fueling the growth of automotive gear oil in retail sector in these two region.

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Some of the major players operating in the automotive gear oil market include Saudi Arabian Oil Co., Total S.A, Gazprom, ROSNEFT, LUKOIL oil company, Royal Dutch Shell plc, Exxon Mobil Corporation, BP p.l.c, Statoil, Chevron Corporation., Sinopec Lubricant Company, JIANGSU LOPAL TECH. CO.,LTD and Ashland Inc.

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Key points covered in the report

  • Report segments the market on the basis of types, application, products, technology, etc (as applicable)
  • The report covers geographic segmentation
    • North America
    • Europe
    • Asia
    • RoW
  • The report provides the market size and forecast for the different segments and geographies for the period of 2010 to 2020
  • The report provides company profiles of some of the leading companies operating in the market
  • The report also provides porters five forces analysis of the market.

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