“Global Automotive Gear Oil Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global organic beverage market report has been segmented on the basis of product type, vehicle type, and region.
Global Automotive Gear Oil Market: Introduction
Automotive gear oil is lubricant used for protection and better performance of gears. Gear oils have anti-wear stabilizer and EP stabilizer or extreme pressure to deal with sliding action of gears. These gear oils have high viscosity level as compared to automotive engine oil and transmission fluid. There are two types of gear oils used in the automotive industry namely petroleum-based or mineral gear oil and synthetic gear oil.
Global Automotive Gear Oil Market: Dynamics
Increasing demand for additives or lubricants for better performance and protection of engine from heat is a key factor driving the growth of the automotive gear oil market. Growing demand for commercial vehicles in countries namely Germany, the US, Canada, UK, France, China, Indonesia, India, etc. owing to rapidly growing industrial sector is estimated to drive the growth of the market. Moreover, the growing transportation industry across the globe is another factor estimated to drive the growth of the automotive gear oil market over the long run.
Global Automotive Gear Oil Market: Segment Analysis
Among the product type segments, the mineral gear oil segment is projected to grow steadily in the next 10 years. Presence wear reducing agents, oxidation inhibitors, and other additive contents provide wear resistance without use of chemical agents, which in turn drive the growth of the segment. The synthetic gear oil segment is projected to grow moderately. Synthetic gear oils are better than mineral gear oil as they reduce energy consumption due to its low friction coefficient and provide superior resistance to shear breakdown.
Among the vehicle type segments, the commercial vehicles segment is estimated to contribute a significant share in the global market. Growing demand for commercial vehicles in across globe is a key factor projected to drive the growth of this segment. The passenger cars segment is projected to register a moderate growth rate in the automotive gear oil market.
Global Automotive Gear Oil Market: Regional Analysis
North America automotive gear oil market is estimated to account major share in the automotive gear oil market in the next 10 years. Growing demand for gear oil in the region owing to large volume of motor vehicles is a key factor driving the growth of the North America market. Increasing sales of commercial vehicles in the region is another factor projected to drive the growth of the automotive gear oil market in North America in the next 10 years.
Asia Pacific automotive gear oil market is anticipated to grow at a steady growth rate over the next 10 years. Increasing demand for passenger cars in the countries in this region owing to rising spending power and changing living standards of consumers is projected to drive the growth of the target market in the Asia Pacific.
Global Automotive Gear Oil Market Segmentation:
Segmentation by Product Type:
- Mineral Gear Oil
- Synthetic Gear Oil
Segmentation by Vehicle Type:
- Passenger Cars
- Commercial Vehicles
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Total Lubricants
- Lubrication Engineers Inc.
- Royal Dutch Shell Plc.
- Total S.A.
- Fuchs Lubricants Co.
- Chevron Corporation
- Hindustan Petroleum Corporation Limited
- Exxon Mobil Corporation
- BP PLC
- Gazpromneft - Lubricants, Ltd.
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