The Industrial Gear Oils Market is expected to reach $6,372 million by 2023.
According to the new market research report by IndustryARC titled “Industrial Gear Oil Market: By Type (Mineral, Synthetic, Food Grade, Worm Gear Oils); By Application (Manufacturing Industry, Steel Industry, Mining, Construction, Agriculture, Energy and Others) and By Geography - Forecast(2018 - 2023)”, the market is driven by the growing industrial activities.
Asia Pacific dominates the Industrial Gear Oils Market
Asia Pacific dominates the Industrial Gear Oils Market during the forecast period. It is expected to generate a revenue of $3030.97 million by 2023 at a CAGR of 1.99%. The maximum share in the region is held by India and China, due to growing population and rapid industrialization in the region. The governments in the Asia Pacific region have launched different policies for driving the domestic economy. As a result, commercial segments are expected to grow rapidly. In China, the competition among the industrial gear oil manufacturers has become high in recent times, since multinational companies are concentrating on the Chinese market. India is the largest producer of coal and steel, and this drives the demand for industrial machinery which in turn spurs the demand for industrial gear oil in the region.
Industrial Gear Oils Market Analysis done in the full Report:
The manufacturing segment in 2016 held a share of $2,201.2 million. It is expected to generate $2559.34 million by 2023 at a CAGR of 1.79%. The industrial gear lubricant has several applications in the manufacturing industry such as in paper, food, pulp, cement, textile, etc. The lubricants can provide protection against wear and tear, and oxidative stability.The gearbox machinery used in the food industry consists of lubrication of enclosed gear and conveyor applications, which needs the food grade lubricant to prevent food contamination caused by oils and greases.The manufacturing industry uses both mineral and synthetic oils. The application differs according to the requirements of the product or organization. European countries use synthetic gear oil as it prolongs the machine life for a longer duration.
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Excerpts on Industrial Gear Oils Market Growth Factors
- Use of industrial gear oils in wind mill applications drive the demand for gear oil.
- Manufacturers are now choosing automated devices due to the increasing demand for goods, and for delivering goods in a short span of time.
- Hydro Safe provides good anti-wear performance products in many applications and can be used as a substitute for conventional petroleum oil.
Key players of the Industrial Gear Oils Market
Royal Dutch Shell PLC dominates the Industrial Gear Oils Market followed by TOTAL SA, BP PLC and Chevron Corp. Royal Dutch Shell PLC manufactures products such as Shell Omala S4 GX and Shell Omala S4 WE, which provide extra protection and life. TOTAL SA produces CARTER MS 100 for open gears in sugarcane mills. BP PLC manufactures EnergearLimslip 90, an automotive gear oil. Chevron manufactures open gear lubricants which minimize wear during the operations.
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Industrial Gear Oils Market is segmented as below
Growing demand for efficient machinery in industries drive the demand for worm gear oil during the forecast period.
A. Industrial Gear Oils Market By Type
1. Mineral Gear Oil
2. Synthetic Gear Oil
3. Food Grade Gear Oil
4. Worm Gear Oil
B. Industrial Gear Oils Market By Application
1. Manufacturing
2. Steel
3. Mining
4. Construction
5. Agriculture
6. Energy
7. Others
C. Industrial Gear Oils Market By Geography (covers 14+ countries)
D. Industrial Gear Oils Market Entropy
Companies Citied / Interviewed in Industrial Gear Oils Market
1. FUCHS LUBRITECH GMBH
2. ROYAL DUTCH SHELL PLC
3. EXXON MOBIL CORP.
4. PHILLIPS 66 LUBRICANTS
5. LUBRICATING SPECIALTIES COMPANY
6. AFTON CHEMICAL CORPORATION
7. TOTAL S.A.
8. BP P.L.C
9. CHEVRON CORPORATION
10. Company 10+
Related Report:
- A.Composite Materials Market
- B.Polyvinyl Chloride Resins Market
What can you expect from the report?
The Industrial Gear Oils Market Report is Prepared with the Main Agenda to Cover the following 20 points:
1.Market Size by Product Categories
2.Market trends
3.Manufacturer Landscape
4.Distributor Landscape
5.Pricing Analysis
6.Top 10 End user Analysis
7.Product Benchmarking
8.Product Developments
9.Mergers & Acquisition Analysis
10.Patent Analysis
11.Demand Analysis (By Revenue & Volume)
12.Country level Analysis (15+)
13.Competitor Analysis
14.Market Shares Analysis
15.Value Chain Analysis
16.Supply Chain Analysis
17.Strategic Analysis
18.Current & Future Market Landscape Analysis
19.Opportunity Analysis
20.Revenue and Volume Analysis
Frequently Asked Questions:
Q. Does IndustryARC publish country or application based reports in Industrial Gear Oils Market segment?
Response: Yes, we do have separate reports as mentioned below:
1. Industrial Gear Oils Market Report (2018-2023)
2. Americas Industrial Gear Oils Market Size (2018-2023)
3. Asia Pacific Industrial Gear Oils Market Share (2018-2023)
4. Europe Industrial Gear Oils Market Analysis(2018-2023)
5. Manufacturing Industrial Gear Oils Market Trends (2018-2023)
6. Steel Industrial Gear Oils Market Forecast (2018-2023)
7. Mining Industrial Gear Oils Market Growth (2018-2023)
Q. Does IndustryARC provide customized reports and charge additionally for limited customization?
Response: Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization:
1. Increase the level of data in application or end user industry.
2. Increase the number of countries in geography chapter.
3. Find out market shares for other smaller companies or companies which are of interest to you.
4. Company profiles can be requested based on your interest.
5. Patent analysis, pricing, product analysis, product benchmarking, value and supply chain analysis can be requested for a country or end use segment.
Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.
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About IndustryARC:
IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.
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