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Gear Oils Market Report gives big time operator, sponsors and senior organization with the fundamental information they need to assess the Global Gear Oils Market. Nearby intentionally separating the key little scale Market, the report in like manner revolves around industry-specific drivers, limitations, openings and troubles in the Gear Oils Market. This inquisition report offers top to bottom inquisition of the market measure (profit), bit of the general business, genuine market divides, and differing geographic districts, check for the accompanying five years, key market players, and premium industry designs. It moreover revolves around the key drivers, limitations, openings and troubles.
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The Research report demand, score, deal and revenue figures are also developing in the forecast period 2018-2023. The key players and brands are making their moves by product launches, researches, their joint ventures, merges, and accusations and are getting successful results.
Gear Oils market report describes the development of the industry by long term demanding & succeeding industry development, key companies, as well as type segment & market application and so on, and makes an factual Forecast for the development industry prospects on the basis of analysis. finally, Gear Oils Market analyses opportunities for investment in the industry at the end of the report.
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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.
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.
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
Price of Report (Single User Licence): – $4250
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Gear Oils Market Forecast 2018-2023
The Gear Oils industry research report analyses the supply, sales, production, and market status comprehensively. Production market shares and sales market shares are analysed along with the study of capacity, production, sales, and revenue. Several other factors such as import, export, gross margin, price, cost, and consumption are also analysed under the section Analysis of Gear Oils production, supply, sales and market status.
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