Gear Lubricant Market by Base Oil (Mineral Oil, Synthetic Oil, and Bio-Based Oil), End-users (Construction & Mining, Metal Production, Cement Production, Power Generation, Automotive, Chemical, Oil & Gas, Textile, and Food Processing), and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast to 2028.
The global gear lubricant market is projected to expand at a CAGR of 2.5% during the forecast period, 2021-2028. The growth of the market is attributed to the integration of advancing automobile technology, increasing demand from the wind energy systems, and rapid industrial growth in the Middle-East & Africa.
Gear lubricant contain organosulfur compounds and have high viscosity. It protects the gear equipment against unnecessary wear & tear and heat. These lubricants enable smooth operation in vehicles and machinery in industries, which increases their life and productivity. They are used in a wide range of applications such as manufacturing, mining, construction, heavy equipment, agriculture, metallurgy and metalworking, oil & gas, power generation, and transportation. Increasing expenditure for research and development activities to provide better quality of gear oils is anticipated to foster the market growth.
Market Drivers, Restraints, Trends, and Opportunities
- Rapid urbanization and rising demand for advanced equipment are driving the market growth.
- The massive industrial growth in the Middle East & Africa and Asia Pacific regions coupled with the rising demand for gear oils from the automotive and power industries are some of the key factors driving the growth of the gear oil market during the forecast period.
- Increasing consumption of electricity owing to rising construction activities and rising population is expected to positively influence the market growth.
Scope of Gear Lubricant Market Report
The report on the global gear lubricant market includes an assessment of the market, trends, segments and regional markets. Overview and dynamics have also been included in the report.
|
Attributes |
Details |
|
Report Title |
Gear Lubricant Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
|
Base Year |
2020 |
|
Historic Data |
2018–2019 |
|
Forecast Period |
2021–2028 |
|
Segmentation |
Base Oil (Mineral Oil, Synthetic Oil, and Bio-Based Oil ) and End-users (Construction & Mining, Metal Production, Cement Production, Power Generation, Automotive, Chemical, Oil & Gas, Textile, and Food Processing) |
|
Regional Scope |
North America, Latin America, Europe, Asia Pacific and Middle East & Africa |
|
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
|
Key Players Covered in the Report |
ExxonMobil Corporation, Royal Dutch Shell PLC, BP PLC, FUCHS, and Total SA |
Global Gear Lubricant Market Segment Insights
Mineral oil segment to account a large market share
Based on base oil, the market is classified as mineral oil, synthetic oil, and bio-based oil. The mineral oil segment to account for a large market share during the forecast period. This is majorly attributed to its easy availability and low cost. However, the synthetic oil segment is expected to register a high CAGR during the forecast period owing to its advanced properties that expands its usage in various industries.
Construction & mining segment to exhibit a high CAGR
Based on end-users, the market is segmented into construction & mining, metal production, cement production, power generation, automotive, chemical, oil & gas, textile, and food processing. The construction & mining segment to exhibit a high CAGR during the forecast period. Increasing demand for lubricants in the construction industry owing to rapid urbanization is driving the segment growth.
Asia Pacific to account a significant market share
In terms of regions, the market is segregated into North America, Latin America, Europe, Asia Pacific and Middle East & Africa. The market in Asia Pacific is expected to account for a significant market share during the forecast period. Rapid industrialization in countries such as India and China owing to low production costs is driving the regional market growth.
Rising demand for automotive lubricants coupled with improvement in the road network in above-mentioned countries is expected to fuel the demand for gear lubricants in the region. The implementation of Western Development Plan in China has enhanced the production of the manufacturing industry in Western China, which is anticipated to further augment the regional market growth during the forecast period.
Segments
The global gear lubricant market has been segmented based on
Base Oil
- Mineral Oil
- Synthetic Oil
- Bio-based Oil
End-users
- Construction & Mining
- Metal Production
- Cement Production
- Power Generation
- Automotive
- Chemical
- Oil & Gas
- Textile
- Food Processing
Regions
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Key players
- ExxonMobil Corporation
- Royal Dutch Shell PLC
- BP PLC
- FUCHS
- Total SA
Competitive Landscape
The major players of the market are Royal Dutch Shell PLC, Exxon Mobil Corporation, BP PLC, Chevron Corporation, and Total SA.
ExxonMobil launched Mobil SHC Gear 320 WT, an advanced wind turbine lubricant, with a seven-year warranty. Meanwhile, Dana Holding Corp. launched Spicer XFE 75W-90, which is an axle lubricant aimed at improving drive axle efficiency and reducing fleet operating costs.
Companies are focusing on providing superior customer service to acquire a large consumer base. They are indulging in mergers and acquisitions to improve their product offerings.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Gear Lubricant Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Gear Lubricant Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Gear Lubricant Market - Supply Chain
4.5. Global Gear Lubricant Market Forecast
4.5.1. Gear Lubricant Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Gear Lubricant Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Gear Lubricant Market Absolute $ Opportunity
5. Global Gear Lubricant Market Analysis and Forecast by End Users
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by End Users
5.2.2. Y-o-Y Growth Projections by End Users
5.3. Gear Lubricant Market Size and Volume Forecast by End Users
5.3.1. Construction & Mining
5.3.2. Metal Production
5.3.3. Cement Production
5.3.4. Power Generation
5.3.5. Automotive
5.3.6. Chemical
5.3.7. Oil & Gas
5.3.8. Textile
5.3.9. Food Processing
5.4. Absolute $ Opportunity Assessment by End Users
5.5. Market Attractiveness/Growth Potential Analysis by End Users
6. Global Gear Lubricant Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Gear Lubricant Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Gear Lubricant Demand Share Forecast, 2019-2026
7. North America Gear Lubricant Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Gear Lubricant Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Gear Lubricant Market Size and Volume Forecast by End Users
7.4.1. Construction & Mining
7.4.2. Metal Production
7.4.3. Cement Production
7.4.4. Power Generation
7.4.5. Automotive
7.4.6. Chemical
7.4.7. Oil & Gas
7.4.8. Textile
7.4.9. Food Processing
7.5. Basis Point Share (BPS) Analysis by End Users
7.6. Y-o-Y Growth Projections by End Users
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Gear Lubricant Demand Share Forecast, 2019-2026
8. Latin America Gear Lubricant Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Gear Lubricant Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Gear Lubricant Market Size and Volume Forecast by End Users
8.4.1. Construction & Mining
8.4.2. Metal Production
8.4.3. Cement Production
8.4.4. Power Generation
8.4.5. Automotive
8.4.6. Chemical
8.4.7. Oil & Gas
8.4.8. Textile
8.4.9. Food Processing
8.5. Basis Point Share (BPS) Analysis by End Users
8.6. Y-o-Y Growth Projections by End Users
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Gear Lubricant Demand Share Forecast, 2019-2026
9. Europe Gear Lubricant Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Gear Lubricant Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Gear Lubricant Market Size and Volume Forecast by End Users
9.4.1. Construction & Mining
9.4.2. Metal Production
9.4.3. Cement Production
9.4.4. Power Generation
9.4.5. Automotive
9.4.6. Chemical
9.4.7. Oil & Gas
9.4.8. Textile
9.4.9. Food Processing
9.5. Basis Point Share (BPS) Analysis by End Users
9.6. Y-o-Y Growth Projections by End Users
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Gear Lubricant Demand Share Forecast, 2019-2026
10. Asia Pacific Gear Lubricant Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Gear Lubricant Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Gear Lubricant Market Size and Volume Forecast by End Users
10.4.1. Construction & Mining
10.4.2. Metal Production
10.4.3. Cement Production
10.4.4. Power Generation
10.4.5. Automotive
10.4.6. Chemical
10.4.7. Oil & Gas
10.4.8. Textile
10.4.9. Food Processing
10.5. Basis Point Share (BPS) Analysis by End Users
10.6. Y-o-Y Growth Projections by End Users
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Gear Lubricant Demand Share Forecast, 2019-2026
11. Middle East & Africa Gear Lubricant Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Gear Lubricant Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Gear Lubricant Market Size and Volume Forecast by End Users
11.4.1. Construction & Mining
11.4.2. Metal Production
11.4.3. Cement Production
11.4.4. Power Generation
11.4.5. Automotive
11.4.6. Chemical
11.4.7. Oil & Gas
11.4.8. Textile
11.4.9. Food Processing
11.5. Basis Point Share (BPS) Analysis by End Users
11.6. Y-o-Y Growth Projections by End Users
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Gear Lubricant Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Gear Lubricant Market: Market Share Analysis
12.2. Gear Lubricant Distributors and Customers
12.3. Gear Lubricant Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. ExxonMobil Corporation
12.4.2. Royal Dutch Shell PLC
12.4.3. BP PLC
12.4.4. FUCHS
12.4.5. Total SA
2. Assumptions and Acronyms Used
3. Research Methodology
4. Gear Lubricant Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Gear Lubricant Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Gear Lubricant Market - Supply Chain
4.5. Global Gear Lubricant Market Forecast
4.5.1. Gear Lubricant Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Gear Lubricant Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Gear Lubricant Market Absolute $ Opportunity
5. Global Gear Lubricant Market Analysis and Forecast by End Users
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by End Users
5.2.2. Y-o-Y Growth Projections by End Users
5.3. Gear Lubricant Market Size and Volume Forecast by End Users
5.3.1. Construction & Mining
5.3.2. Metal Production
5.3.3. Cement Production
5.3.4. Power Generation
5.3.5. Automotive
5.3.6. Chemical
5.3.7. Oil & Gas
5.3.8. Textile
5.3.9. Food Processing
5.4. Absolute $ Opportunity Assessment by End Users
5.5. Market Attractiveness/Growth Potential Analysis by End Users
6. Global Gear Lubricant Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Gear Lubricant Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Gear Lubricant Demand Share Forecast, 2019-2026
7. North America Gear Lubricant Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Gear Lubricant Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Gear Lubricant Market Size and Volume Forecast by End Users
7.4.1. Construction & Mining
7.4.2. Metal Production
7.4.3. Cement Production
7.4.4. Power Generation
7.4.5. Automotive
7.4.6. Chemical
7.4.7. Oil & Gas
7.4.8. Textile
7.4.9. Food Processing
7.5. Basis Point Share (BPS) Analysis by End Users
7.6. Y-o-Y Growth Projections by End Users
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Gear Lubricant Demand Share Forecast, 2019-2026
8. Latin America Gear Lubricant Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Gear Lubricant Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Gear Lubricant Market Size and Volume Forecast by End Users
8.4.1. Construction & Mining
8.4.2. Metal Production
8.4.3. Cement Production
8.4.4. Power Generation
8.4.5. Automotive
8.4.6. Chemical
8.4.7. Oil & Gas
8.4.8. Textile
8.4.9. Food Processing
8.5. Basis Point Share (BPS) Analysis by End Users
8.6. Y-o-Y Growth Projections by End Users
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Gear Lubricant Demand Share Forecast, 2019-2026
9. Europe Gear Lubricant Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Gear Lubricant Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Gear Lubricant Market Size and Volume Forecast by End Users
9.4.1. Construction & Mining
9.4.2. Metal Production
9.4.3. Cement Production
9.4.4. Power Generation
9.4.5. Automotive
9.4.6. Chemical
9.4.7. Oil & Gas
9.4.8. Textile
9.4.9. Food Processing
9.5. Basis Point Share (BPS) Analysis by End Users
9.6. Y-o-Y Growth Projections by End Users
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Gear Lubricant Demand Share Forecast, 2019-2026
10. Asia Pacific Gear Lubricant Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Gear Lubricant Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Gear Lubricant Market Size and Volume Forecast by End Users
10.4.1. Construction & Mining
10.4.2. Metal Production
10.4.3. Cement Production
10.4.4. Power Generation
10.4.5. Automotive
10.4.6. Chemical
10.4.7. Oil & Gas
10.4.8. Textile
10.4.9. Food Processing
10.5. Basis Point Share (BPS) Analysis by End Users
10.6. Y-o-Y Growth Projections by End Users
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Gear Lubricant Demand Share Forecast, 2019-2026
11. Middle East & Africa Gear Lubricant Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Gear Lubricant Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Gear Lubricant Market Size and Volume Forecast by End Users
11.4.1. Construction & Mining
11.4.2. Metal Production
11.4.3. Cement Production
11.4.4. Power Generation
11.4.5. Automotive
11.4.6. Chemical
11.4.7. Oil & Gas
11.4.8. Textile
11.4.9. Food Processing
11.5. Basis Point Share (BPS) Analysis by End Users
11.6. Y-o-Y Growth Projections by End Users
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Gear Lubricant Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Gear Lubricant Market: Market Share Analysis
12.2. Gear Lubricant Distributors and Customers
12.3. Gear Lubricant Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. ExxonMobil Corporation
12.4.2. Royal Dutch Shell PLC
12.4.3. BP PLC
12.4.4. FUCHS
12.4.5. Total SA
The global gear lubricant market has been segmented based on
Base Oil
- Mineral Oil
- Synthetic Oil
- Bio-based Oil
End-users
- Construction & Mining
- Metal Production
- Cement Production
- Power Generation
- Automotive
- Chemical
- Oil & Gas
- Textile
- Food Processing
Regions
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Key players
- ExxonMobil Corporation
- Royal Dutch Shell PLC
- BP PLC
- FUCHS
- Total SA
The major players of the market are Royal Dutch Shell PLC, Exxon Mobil Corporation, BP PLC, Chevron Corporation, and Total SA.
ExxonMobil launched Mobil SHC Gear 320 WT, an advanced wind turbine lubricant, with a seven-year warranty. Meanwhile, Dana Holding Corp. launched Spicer XFE 75W-90, which is an axle lubricant aimed at improving drive axle efficiency and reducing fleet operating costs.
Companies are focusing on providing superior customer service to acquire a large consumer base. They are indulging in mergers and acquisitions to improve their product offerings.
Our Clients
Related Reports
Some other reports from this category!
