About Industrial Gear Oil
Gear oil is manufactured from two critical components as base oil and additives. Additives impart desirable properties and suppress undesirable ones. The additive package is the backbone of the lubricant’s performance, and a strong backbone will be delivered by the performance and protection as per customer requirement.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 3.8% |
The companies are exploring the market in new regions by adopting mergers & acquisitions, expansions, investments, new solution launches and collaborations as their strategies. Key players are exploring new areas through expansions and acquisitions across the world to avail competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Industrial Gear Oil market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Exxon Mobil Corporation (United States), Royal Dutch Shell plc (Netherlands), Chevron Corporation (United States), BP p.l.c. (United Kingdom), Total S.A. (France), PetroChina Company Limited (China), Sinopec Limited (China), LUKOIL (Russia), Fuchs Petrolub SE (Germany) and Idemitsu Kosan Co., Ltd (Japan) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Addinol Lube Oil (Germany), Advanced Lubrication Specialties (United States) and Amalie Oil (United States).
Segmentation Overview
AMA Research has segmented the market of Global Industrial Gear Oil market by and Region.
On the basis of geography, the market of Industrial Gear Oil has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Industry Verticals, the sub-segment i.e. Manufacturing will boost the Industrial Gear Oil market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Base Oil, the sub-segment i.e. Mineral Oil will boost the Industrial Gear Oil market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channels, the sub-segment i.e. Direct Sales will boost the Industrial Gear Oil market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increase Funding for Technology Development
Market Growth Drivers:
Massive Growth in Industrialization Across Asia-Pacific Regions Majorly from India, and China, Increase Investment from Quality of Gear Oils, Advancement Automotive Industry in Asia-Pacific and Growing Requirement from Power Industry
Challenges:
Fluctuation in Price of Raw Materials
Restraints:
Continuous Change in Technology and Stringent Government Regulations Related to the Environment
Opportunities:
High Availability of Semi-Synthetic Gear Oils and Development in the Zinc Free Gear Oils
Market Leaders and their expansionary development strategies
In August 2023,Hinduja Group company Gulf Oil Lubricants on Monday announced acquiring a rolling stake in EV charger maker Tirex Transmission for Rs 103 crore.
In January 2023,Goodyear Lubricants has announced a new range of vehicle lubricant oils for distribution in South Asia, Southeast Asia and New Zealand. The new lubricant product line is designed to reduce carbon footprint and be in compliance with ongoing BS-6 and EURO 6 standards.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Industrial Gear Oil Manufacturers, Suppliers and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.