Gear Oil Market – Global Industry Trends, Business Intelligence and Forecast to 2024
Global
Gear Oil Market By Base Oil {Mineral Oil, Synthetic Oil (PAO, PAG, Group III
(Hydrocracking), Esters), Semi-Synthetic Oil, Bio-Based Oil)}, Application
{General Industrial (Manufacturing, Mining, Construction, Agriculture, Oil
& Gas, Others), Transport (Automotive, Marine, Railway, Aviation)},
Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle
East and Africa)
This report consists
of below pages:
• No
of pages : 350
• No
of Figures: 60
• No
of Tables: 220
The global gear oil
market accounted for USD 7.34 billion in 2016 and is projected to grow at a
CAGR of 2.70% during the forecast period of 2017 to 2024.The upcoming market
report contains data for historic year 2015, the base year of calculation is
2016 and the forecast period is 2017 to 2024.
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Major market drivers: Global
Gear Oil Market
·
Rising demand from
power industry
·
Improved quality of
gear oils
·
Growingautomotive
industry
Market Restraint:
· Strict environmental
regulations restricting the use of gear oils Rigid environmental regulations
pertaining to the sustainability of structures
Global
Gear Oil Market is segmented on the basis of type, application and Geography.
On
the basis of type, global gear oil market is segmented into mineral oil,
synthetic oil, semi-synthetic oil and bio-based oil.Synthetic oilis sub
segmented into poly-alpha-olefin(PAO),polyalkylene glycol (PAG) and Group III
(hydrocracking).
On
the basis application global gear oil market is segmented into general
industrial and transportation. General industrial is sub segmented into
manufacturing, mining, construction, agriculture, oil & gas and others,
whereas transportation is sub segmented into automotive, marine, railway, and
aviation. Transportation segment accounts for the highest consumption due to
increasing usage gear oils in the automotive industry.
On
the basis of geography, global gear oil market report covers data points for 28
countries across multiple geographies namely North America & South America,
Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries
covered in this report are U.S., Canada, Germany, France, U.K., Netherlands,
Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia,
Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North
America is expected to dominate the market..
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The
Global Gear Oil Market Report
is consolidated due to the presence of limited number of players concentrated
in few countries. These major players have adopted various organic as well as
inorganic growth strategies such as mergers & acquisitions, new product
launches, expansions, agreements, joint ventures, partnerships, and others to strengthen
their position in this market.
Some of the major
players operating in this market are
Some
of the major players operating in global gear oil market are Exxon Mobil
Corporation, Chevron Corporation, Royal Dutch Shell Plc, BP p.l.c., Lukoil,
Total Lubrifiants, PetroChina Company Limited, Idemitsu Kosan Co., Ltd, Sinopec
Corp., CITGO Petroleum Corporation, Apar Industries Ltd., FUCHS, and The
Lubrizol Corporation among others.
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