Global Gear Oils Market - Segmented by Type, End-user Industry, and Geography - Growth, Trends, and Forecast (2018 - 2023)
The global Gear Oils market can be classified based on product type, end-user, distribution channel, age group, and geography.
(EMAILWIRE.COM, August 11, 2018 ) The gear oils market is estimated to be valued at 2,110.02 kilotons in 2018 and is expected to register a CAGR of 2.19% during the forecast period, 2018-2023. The major factors driving the growth of the gear oils market are the increasing production of motor vehicles in Asia-Pacific and Europe, and growing demand from the wind energy sector.
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Growing Demand from Wind Energy to Increase the Consumption
Gear oils find their applications in wind turbines for lubrication of the main gearbox and other gear motor components. There is a rising demand for synthetic gear oils in wind turbines due to their enhanced properties over their mineral based counterparts due the performance additives used during the formulation of synthetic oils, as per the requirement. Power generation from wind energy is growing at a rapid pace globally with continuously increasing installed capacities of wind turbines every year. The decrease in the prices in the offshore industry has been one of the contributors to the growth of wind power generation market by generating investments in the offshore industries in Europe, North America and Asia-Pacific regions, which is further expected to boost the demand for gear oils during the forecast period.
Read details of the report at: http://www.orbisresearch.com/reports/index/global-gear-oils-market-segmented-by-type-end-user-industry-and-geography-growth-trends-and-forecast-2018-2023
Automotive Sector the Dominating Segment
Automotive is the largest end-user segment in terms of consumption of gear oils, accounting for approximately 60% of the global gear oils market, as of 2017. Gear oils are used to lubricate gearboxes, due to the continuous movement during the operation of the equipment or driving a vehicle. The gear oils used in the transportation industry, primarily for manual gearboxes, and axle oils. The use of MTF or ATF in a manual gearbox implies the presence of viscosity-modifying polymers. Partially and wholly synthetic, SAE 75W-90 and 75W-140 multi-grades are favorable in this application, as they certainly contain shear stable viscosity modifiers. Manual transmission fluids (MTF) are intended for lubrication of automotive manual gearboxes. Innovation in this segment has been a critical factor, due to numerous complexities associated with these fluids. A major concern is the fuel-efficiency enhancement and suppression of transmission noise, to enable a smooth transmission.
United States to Witness Moderate Growth
In 2017, gear oils attribute to about 5% of the total lubricants consumption in the United States. A huge majority of the motor vehicles sold in the United States have automatic transmissions (more than 95%) and the number is increasing steadily. The declining sales in the manual transmission vehicles are expected to have an impact on the demand for gear oil. However, the consumption of axle oils has been rising consistently since 2012 owing to the growing production of new motor vehicles in the country. A short downfall has been witnessed in 2017, due to a decline in the production of motor vehicles in 2016-17.
Key Developments in the Market
March 2018: A 20-year contract has been signed between Brazilian energy and logistics company Cosan SA Industria e Comercio and Exxon Mobil to produce, import, distribute, and sell certain Mobil products in four South American countries
May 2017: Total Lubricants and CLAAS, a major player in the agriculture machinery industry, renewed their partnership until 2021
Major players: BP Plc., Royal Dutch Shell Plc., Total, FUCHS, Valvoline Inc., Exxon Mobil Corporation, Total, and Chevron Corporation, among others.
Reasons to Purchase this Report
Current and future of the gear oils market in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
The segment that is expected to dominate the market
Countries that are expected to witness fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in Excel)
Customization of the Report
This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs
Companies Mentioned:
BP Plc., China Petroleum & Chemical Corporation (Sinopec), Chevron Corporation, Exxon Mobil Corporation, FUCHS, Gazprom Neft PJSC, Gulf Oil Corporation Limited, Idemitsu Kosan Co. Ltd, Indian Oil Corporation Ltd, JX Nippon Oil & Energy Corporation, Lukoil, Royal Dutch Shell Plc., Total
Enquire more details of the report at: http://www.orbisresearch.com/contact/purchase/2282376
About Us:
Orbis Research (orbisresearch.com) is a single point aid for all your market research requirements. We have vast database of reports from the leading publishers and authors across the globe. We specialize in delivering customized reports as per the requirements of our clients. We have complete information about our publishers and hence are sure about the accuracy of the industries and verticals of their specialization. This helps our clients to map their needs and we produce the perfect required market research study for our clients.
Contact Information:
Hector Costello
Senior Manager – Client Engagements
4144N Central Expressway,
Suite 600, Dallas,
Texas – 75204, U.S.A.
Phone No.: +1 (214) 884-6817; +9164101019
Request sample copy of Gear Oils Market at: http://www.orbisresearch.com/contacts/request-sample/2282376
Growing Demand from Wind Energy to Increase the Consumption
Gear oils find their applications in wind turbines for lubrication of the main gearbox and other gear motor components. There is a rising demand for synthetic gear oils in wind turbines due to their enhanced properties over their mineral based counterparts due the performance additives used during the formulation of synthetic oils, as per the requirement. Power generation from wind energy is growing at a rapid pace globally with continuously increasing installed capacities of wind turbines every year. The decrease in the prices in the offshore industry has been one of the contributors to the growth of wind power generation market by generating investments in the offshore industries in Europe, North America and Asia-Pacific regions, which is further expected to boost the demand for gear oils during the forecast period.
Read details of the report at: http://www.orbisresearch.com/reports/index/global-gear-oils-market-segmented-by-type-end-user-industry-and-geography-growth-trends-and-forecast-2018-2023
Automotive Sector the Dominating Segment
Automotive is the largest end-user segment in terms of consumption of gear oils, accounting for approximately 60% of the global gear oils market, as of 2017. Gear oils are used to lubricate gearboxes, due to the continuous movement during the operation of the equipment or driving a vehicle. The gear oils used in the transportation industry, primarily for manual gearboxes, and axle oils. The use of MTF or ATF in a manual gearbox implies the presence of viscosity-modifying polymers. Partially and wholly synthetic, SAE 75W-90 and 75W-140 multi-grades are favorable in this application, as they certainly contain shear stable viscosity modifiers. Manual transmission fluids (MTF) are intended for lubrication of automotive manual gearboxes. Innovation in this segment has been a critical factor, due to numerous complexities associated with these fluids. A major concern is the fuel-efficiency enhancement and suppression of transmission noise, to enable a smooth transmission.
United States to Witness Moderate Growth
In 2017, gear oils attribute to about 5% of the total lubricants consumption in the United States. A huge majority of the motor vehicles sold in the United States have automatic transmissions (more than 95%) and the number is increasing steadily. The declining sales in the manual transmission vehicles are expected to have an impact on the demand for gear oil. However, the consumption of axle oils has been rising consistently since 2012 owing to the growing production of new motor vehicles in the country. A short downfall has been witnessed in 2017, due to a decline in the production of motor vehicles in 2016-17.
Key Developments in the Market
March 2018: A 20-year contract has been signed between Brazilian energy and logistics company Cosan SA Industria e Comercio and Exxon Mobil to produce, import, distribute, and sell certain Mobil products in four South American countries
May 2017: Total Lubricants and CLAAS, a major player in the agriculture machinery industry, renewed their partnership until 2021
Major players: BP Plc., Royal Dutch Shell Plc., Total, FUCHS, Valvoline Inc., Exxon Mobil Corporation, Total, and Chevron Corporation, among others.
Reasons to Purchase this Report
Current and future of the gear oils market in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
The segment that is expected to dominate the market
Countries that are expected to witness fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in Excel)
Customization of the Report
This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs
Companies Mentioned:
BP Plc., China Petroleum & Chemical Corporation (Sinopec), Chevron Corporation, Exxon Mobil Corporation, FUCHS, Gazprom Neft PJSC, Gulf Oil Corporation Limited, Idemitsu Kosan Co. Ltd, Indian Oil Corporation Ltd, JX Nippon Oil & Energy Corporation, Lukoil, Royal Dutch Shell Plc., Total
Enquire more details of the report at: http://www.orbisresearch.com/contact/purchase/2282376
About Us:
Orbis Research (orbisresearch.com) is a single point aid for all your market research requirements. We have vast database of reports from the leading publishers and authors across the globe. We specialize in delivering customized reports as per the requirements of our clients. We have complete information about our publishers and hence are sure about the accuracy of the industries and verticals of their specialization. This helps our clients to map their needs and we produce the perfect required market research study for our clients.
Contact Information:
Hector Costello
Senior Manager – Client Engagements
4144N Central Expressway,
Suite 600, Dallas,
Texas – 75204, U.S.A.
Phone No.: +1 (214) 884-6817; +9164101019
Contact Information:
Orbis Research
Hector Costello
Tel: +1 (214) 884-6817
Email us
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Orbis Research
Hector Costello
Tel: +1 (214) 884-6817
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results