Insights on the Global Gear Oil Market 2020-2024 | COVID-19 Analysis, Drivers, Restraints, Opportunities and Threats | Technavio

·5-min read

The global gear oil market size is expected to grow by USD 1.14 billion during 2020-2024, progressing at a CAGR of almost 3% during the forecast period. Download latest version with COVID-19 analysis Free Sample Report

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Technavio has announced its latest market research report titled Global Gear Oil Market 2020-2024 (Graphic: Business Wire)

The growing demand for fully synthetic gear oil is one of the major factors propelling market growth.

The global gear oil market is driven by the growing demand for advanced gear oils such as semi-synthetic gear oil and fully synthetic gear oil. The addition of advanced additives and chemicals in fully synthetic gear oil increases their demand in the automotive industry. Moreover, the demand for gear oil that withstands very low or high temperatures, extremely high loads, and extraordinary ambient conditions makes synthetic gear oil an ideal choice in industrial applications. Additionally, synthetic gear oil uses a superior quality synthetic base stock, with advanced additives and lubricants. Furthermore, fully synthetic gear oil helps gears combat sludge and carbon deposit build-up within the gearsets. Therefore, the demand for such gear oil has increased owing to the performance advantages and an increase in consumer awareness. Hence, the growing uptake of synthetic gear oil will influence the growth of the gear oil market during the forecast period.

More details: www.technavio.com/report/gear-oil-market-industry-analysis

Global Gear Oil Market: End-user

Gear oil is an essential lubricant for automobiles with a manual transmission as it protects gear components and permits smooth gear-shifting. Moreover, gear oil provides a wide service temperature range, including excellent low-temperature characteristics for cold weather operations. Market growth in the transportation segment will be slower than the growth of the market in the industrial segment.

Global Gear Oil Market: Geographic Landscape

APAC accounted for the largest gear oil market share in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The strong presence of manufacturing facilities will significantly influence gear oil market growth in this region. 56% of the market’s growth will originate from APAC during the forecast period. China, India, Japan, and South Korea are the key markets for gear oil in APAC. Market growth in this region will be slower than the growth of the market in MEA and South America.

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Companies Covered

  • BP Plc

  • Chevron Corp.

  • China National Petroleum Corp.

  • China Petroleum & Chemical Corp.

  • Exxon Mobil Corp.

  • FUCHS PETROLUB SE

  • Idemitsu Kosan Co. Ltd.

  • PJSC LUKOIL

  • Royal Dutch Shell Plc

  • TOTAL SA

What our reports offer:

  • Market share assessments for the regional and country-level segments

  • Strategic recommendations for the new entrants

  • Covers market data for 2019, 2020, till 2024

  • Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)

  • Strategic recommendations in key business segments based on the market estimations

  • Competitive landscaping mapping the key common trends

  • Company profiling with detailed strategies, financials, and recent developments

  • Supply chain trends mapping the latest technological advancements

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports. Register for a free trial today and gain instant access to 17,000+ market research reports. Technavio's SUBSCRIPTION platform

Gear Oil Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024

  • Detailed information on factors that will assist in gear oil market growth during the next five years

  • Estimation of the gear oil market size and its contribution to the parent market

  • Predictions on upcoming trends and changes in consumer behavior

  • The growth of the gear oil market

  • Analysis of the market’s competitive landscape and detailed information on vendors

  • Comprehensive details of factors that will challenge the growth of gear oil market, vendors

Table of Contents:

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

PART 03: MARKET LANDSCAPE

  • Market ecosystem

  • Market characteristics

  • Value chain analysis

  • Market segmentation analysis

PART 04: MARKET SIZING

  • Market definition

  • Market sizing 2019

  • Market outlook

  • Market size and forecast 2019-2024

PART 05: FIVE FORCES ANALYSIS

  • Bargaining power of buyers

  • Bargaining power of suppliers

  • Threat of new entrants

  • Threat of substitutes

  • Threat of rivalry

  • Market condition

PART 06: MARKET SEGMENTATION BY END-USER

  • Market segmentation by end-user

  • Comparison by end-user

  • Transportation - Market size and forecast 2019-2024

  • Industrial - Market size and forecast 2019-2024

  • Market opportunity by end-user

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

  • Geographic segmentation

  • Geographic comparison

  • APAC - Market size and forecast 2019-2024

  • Europe - Market size and forecast 2019-2024

  • North America - Market size and forecast 2019-2024

  • MEA - Market size and forecast 2019-2024

  • South America - Market size and forecast 2019-2024

  • Key leading countries

  • Market opportunity

PART 09: DRIVERS AND CHALLENGES

  • Market drivers

  • Market challenges

PART 10: MARKET TRENDS

  • Growing demand for gear oil from wind turbine applications

  • Development of advanced gear oil

  • Digitalization leading to integrated value chain

PART 11: VENDOR LANDSCAPE

  • Overview

  • Landscape disruption

  • Competitive scenario

PART 12: VENDOR ANALYSIS

  • Vendors covered

  • Vendor classification

  • Market positioning of vendors

  • BP Plc

  • Chevron Corp.

  • China National Petroleum Corp.

  • China Petroleum & Chemical Corp.

  • Exxon Mobil Corp.

  • FUCHS PETROLUB SE

  • Idemitsu Kosan Co. Ltd.

  • PJSC LUKOIL

  • Royal Dutch Shell Plc

  • TOTAL SA

PART 13: APPENDIX

  • Research methodology

  • List of abbreviations

  • Definition of market positioning of vendors

PART 14: EXPLORE TECHNAVIO

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View source version on businesswire.com: https://www.businesswire.com/news/home/20201027006203/en/

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