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[ 英語タイトル ] Gear Oil Market by Base Oil (Mineral, Synthetic, Semi-Synthetic, Bio-based), End-Use Industry (General Industrial (Manufacturing, Mining, Construction, Oil & Gas), Transportation (Automotive, Marine, Aviation)), Region - Global Forecasts to 2022


Product Code : MNMCH00108405
Survey : MarketsandMarkets
Publish On : February, 2021
Category : Chemicals and Advanced Materials
Study Area : Global
Report format : PDF
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[Report Description]

“The gear oil market is projected to grow at a CAGR of 2.69% during the forecast period from 2017 to 2022.”
The gear oil market is expected to reach USD 8.58 billion by 2022, at a CAGR of 2.69% from 2017 to 2022. The growth of the gear oil market is primarily due to the massive industrial growth taking place in the Middle East & Africa and Asia-Pacific regions, coupled with the rising demand for gear oils from the power and automotive industries. The factors restraining the growth of the gear oil market are the technological advancements and environmental regulations. The growth of the gear oil market is hampered by several regulatory guidelines issued by a number of governing bodies, which exert pressure on the manufacturers of gear oils to develop environment-friendly products. In addition, technological advancements, such as development of automatic transmission systems, portable and reduced size gear boxes, and hybrid electric vehicles (HEVs), which consume less or no gear oil, are also expected to hinder the growth of the gear oil market during the forecast period.

“Among base oils, the mineral oil segment is estimated to lead the gear oil market in 2017.”
Among base oils, the mineral oil segment is estimated to lead the gear oil market in 2017. Factors such as the easy availability of mineral oil-based gear oils as well as their low costs are expected to drive the growth of the gear oil market during the forecast period. Moreover, the growth of the mineral oil segment of the market can be attributed to the increased demand for mineral oil-based gear oils from the Middle East & Africa and Asia-Pacific regions. However, the mineral oil segment of the gear oil markets in the North American and European regions is expected to grow at low CAGRs during the forecast period due to the slow economic growth in these regions.

“Among end-use industries, the general industrial segment is projected to lead the gear oil market during the forecast period.”
The general industrial segment is projected to lead the gear oil market during the forecast period, owing to high demand for gear oils in different industries. The general industrial segment of the gear oil market has been broadly classified into manufacturing, mining, construction, oil & gas, and agriculture, among others. The increase in the construction activities in the residential sector of China and rapid infrastructural developments taking place in India are expected to fuel the demand for gear oils in the construction industry between 2017 and 2022.


“The Asia-Pacific gear oil market is projected to grow at the highest CAGR between 2017 and 2022.”
The Asia-Pacific region is the largest market for gear oils across the globe. The increasing disposable income of the middle-class population of the Asia-Pacific region makes it an attractive market for gear oils. The tremendous growth in the industrial production and increased trade activities in the region are primarily responsible for the high consumption of gear oils in the Asia-Pacific region, thereby fueling the growth of the Asia-Pacific gear oil market.

Breakdown of profiles of primary interviews for the report
• By Company Type – Tier 1–30%, Tier 2–43%, and Tier 3–27%
• By Designation – C Level–43%, Director Level–30%, and Others–27%
• By Region – North America–37%, Europe–23%, Asia-Pacific–26%, and RoW–14%
Some of the key companies profiled in this report are Exxon Mobil Corporation (U.S.), Royal Dutch Shell plc (Netherlands), Chevron Corporation (U.S.), BP p.l.c. (U.K.), Total S.A. (France), PetroChina Company Limited (China), Sinopec Limited (China), LUKOIL (Russia), Fuchs Petrolub SE (Germany), and Idemitsu Kosan Co., Ltd (Japan), among others.


Research Coverage
The gear oil market has been segmented on the basis of base oil, end-use industry, and region. On the basis of the base oil, the market has been subsegmented into mineral oil, synthetic oil [polyalphaolefin (PAO), polyalkylene glycol (PAG), esters, and group III], semi-synthetic oil, and bio-based oil. Based on the end-use industry, the market has been classified into general industrial [manufacturing (power, metal, cement, and others), mining, construction, oil & gas, agriculture, and others (defense, port handling equipment, and forestry)], and transportation (automotive, marine, aviation, and railway). On the basis of region, the market has been segmented into Asia-Pacific, Europe, North America, Middle East & Africa, and South America.

Key Benefits
This report covers the following studies:
• Market segmentation based on base oil, end-use industry, and region and their subsegments
• Market dynamics including drivers, restraints, opportunities, and challenges
• Value chain analysis
• Porter’s five forces analysis with respect to the gear oil market
• Profile of the key market players of the gear oil market

TABLE OF CONTENTS

1 INTRODUCTION 15
1.1 OBJECTIVES OF THE STUDY 15
1.2 MARKET DEFINITION 15
1.3 MARKET SCOPE 16
1.3.1 MARKETS COVERED 16
1.3.2 YEARS CONSIDERED FOR THE STUDY 17
1.4 CURRENCY 17
1.5 PACKAGE SIZE 17
1.6 LIMITATIONS 17
1.7 STAKEHOLDERS 17
2 RESEARCH METHODOLOGY 18
2.1 RESEARCH DATA 18
2.1.1 SECONDARY DATA 19
2.1.1.1 Key data from secondary sources 19
2.1.2 PRIMARY DATA 20
2.1.2.1 Key data from primary sources 20
2.1.2.2 Key industry insights 21
2.1.2.3 Breakdown of primary interviews 21
2.2 MARKET SIZE ESTIMATION 22
2.2.1 BOTTOM-UP APPROACH 22
2.2.2 TOP-DOWN APPROACH 23
2.3 DATA TRIANGULATION 24
2.4 RESEARCH ASSUMPTIONS 25
3 EXECUTIVE SUMMARY 26
4 PREMIUM INSIGHTS 30
4.1 SIGNIFICANT OPPORTUNITIES IN THE GEAR OIL MARKET 30
4.2 GEAR OIL MARKET, BY REGION 30
4.3 GEAR OIL MARKET IN ASIA-PACIFIC, BY BASE OIL AND COUNTRY 31
4.4 GEAR OIL MARKET, BY BASE OIL 31
4.5 GEAR OIL MARKET ATTRACTIVENESS 32
4.6 GEAR OIL MARKET, BY END-USE INDUSTRY AND REGION 33

5 MARKET OVERVIEW 34
5.1 INTRODUCTION 35
5.2 MARKET DYNAMICS 35
5.2.1 DRIVERS 36
5.2.1.1 Massive industrial growth in Asia-Pacific and the Middle East & Africa 36
5.2.1.2 Improved quality of gear oils 37
5.2.1.3 Growing automotive industry in Asia-Pacific 37
5.2.1.4 Increasing demand from wind power industry 38
5.2.2 RESTRAINTS 40
5.2.2.1 Technological advancements 40
5.2.2.2 Stringent environmental regulations 41
5.2.3 OPPORTUNITIES 41
5.2.3.1 Availability of semi-synthetic gear oil 41
5.2.3.2 Availability of zinc-free (ashless) gear oil 41
5.3 PORTER’S FIVE FORCES ANALYSIS 42
5.3.1 THREAT OF NEW ENTRANTS 43
5.3.2 THREAT OF SUBSTITUTES 43
5.3.3 BARGAINING POWER OF SUPPLIERS 43
5.3.4 BARGAINING POWER OF BUYERS 44
5.3.5 INTENSITY OF COMPETITIVE RIVALRY 44
5.4 INDUSTRY OUTLOOK 44
5.4.1 AUTOMOTIVE 44
5.4.2 MANUFACTURING INDUSTRY 46
6 GEAR OIL MARKET, BY BASE OIL 47
6.1 INTRODUCTION 48
6.2 MINERAL OIL 49
6.2.1 ASIA-PACIFIC TO DRIVE THE MINERAL-BASED GEAR OIL SEGMENT DURING FORECAST PERIOD 50
6.3 SYNTHETIC OIL 51
6.3.1 PAO 52
6.3.2 PAG 52
6.3.3 ESTERS 52
6.3.4 GROUP III (HYDROCRACKING) 52
6.4 SEMI-SYNTHETIC OIL 53
6.4.1 HIGH PERFORMANCE AT LOW COST TO DRIVE THE DEMAND FOR SEMI-SYNTHETIC GEAR OIL BETWEEN 2017 AND 2022 53
6.5 BIO-BASED OIL 54

7 GEAR OIL MARKET, BY END-USE INDUSTRY 56
7.1 INTRODUCTION 57
7.2 GENERAL INDUSTRIAL 59
7.2.1 MANUFACTURING 61
7.2.1.1 Power Generation 62
7.2.1.2 Metal Production 62
7.2.1.3 Cement Production 63
7.2.1.4 Others 63
7.2.1.4.1 Paper 63
7.2.1.4.2 Textile 63
7.2.1.4.3 Food 63
7.2.1.4.4 Lumber & wood 63
7.2.1.4.5 Rubber & Plastic 63
7.2.2 MINING 64
7.2.3 CONSTRUCTION 65
7.2.4 OIL & GAS 67
7.2.5 AGRICULTURE 68
7.2.6 OTHERS 70
7.3 TRANSPORTATION 71
7.3.1 AUTOMOTIVE 73
7.3.2 MARINE 74
7.3.3 AVIATION 75
7.3.4 RAILWAY 77
8 GEAR OIL MARKET, BY REGION 79
8.1 INTRODUCTION 80
8.2 ASIA-PACIFIC 81
8.2.1 CHINA 85
8.2.2 INDIA 87
8.2.3 JAPAN 89
8.2.4 AUSTRALIA & NEW ZEALAND 90
8.2.5 SOUTH KOREA 91
8.3 NORTH AMERICA 92
8.3.1 U.S. 95
8.3.2 CANADA 97
8.3.3 MEXICO 98
8.4 EUROPE 101
8.4.1 GERMANY 104
8.4.2 U.K. 105
8.4.3 FRANCE 107
8.4.4 ITALY 109
8.4.5 RUSSIA 109
8.4.6 SPAIN 110
8.5 MIDDLE EAST & AFRICA 111
8.5.1 SAUDI ARABIA 114
8.5.2 UAE 116
8.5.3 IRAN 118
8.5.4 SOUTH AFRICA 120
8.6 SOUTH AMERICA 120
8.6.1 BRAZIL 123
8.6.2 ARGENTINA 125
8.6.3 CHILE 127
8.6.4 PERU 128
9 COMPETITIVE LANDSCAPE 129
9.1 INTRODUCTION 129
9.1.1 DYNAMIC DIFFERENTIATORS 129
9.1.2 INNOVATORS 129
9.1.3 VISIONARY LEADERS 129
9.1.4 EMERGING COMPANIES 129
9.2 COMPETITIVE BENCHMARKING 130
9.3 STRENGTH OF PRODUCT PORTFOLIO 131
9.4 BUSINESS STRATEGY EXCELLENCE 132
9.5 MARKET SHARE ANALYSIS 133
9.5.1 EXXONMOBIL CORPORATION (U.S.) 133
9.5.2 ROYAL DUTCH SHELL PLC. (NETHERLANDS) 134
9.5.3 BP P.L.C. (U.K.) 134
10 COMPANY PROFILES 135
(Overview, Financial*, Products & Services, Strategy, and Developments)
10.1 ROYAL DUTCH SHELL PLC. 135
10.2 EXXONMOBIL CORPORATION 138
10.3 BP P.L.C. 141
10.4 CHEVRON CORPORATION 144
10.5 TOTAL S.A. 147
10.6 PETROCHINA COMPANY LIMITED 150
10.7 SINOPEC LIMITED 152
10.8 LUKOIL 155
10.9 FUCHS PETROLUB SE 158
10.10 IDEMITSU KOSAN CO., LTD 161
10.11 OTHER KEY MARKET PLAYERS 164
10.11.1 PHILLIPS 66 COMPANY (U.S.) 164
10.11.2 BEL-RAY COMPANY LLC. (NEW JERSEY, U.S.) 164
10.11.3 MORRIS LUBRICANTS (SHREWSBURY, U.K.) 164
10.11.4 PENRITE OIL (MELBOURNE, AUSTRALIA) 164
10.11.5 BECHEM LUBRICATION TECHNOLOGY LLC. (OHIO, U.S.) 164
10.11.6 VALVOLINE INC. (LEXINGTON, U.S.) 165
10.11.7 PEAK LUBRICANTS PTY LTD. (VICTORIA, AUSTRALIA) 165
10.11.8 ROCK VALLEY OIL & CHEMICAL CO. (ILLINOIS, U.S.) 165
10.11.9 LIQUI MOLY GMBH (ULM, GERMANY) 165
10.11.10 INDIAN OIL CORPORATION LTD (DELHI, INDIA) 165
10.11.11 ENI SPA (ROME, ITALY) 165
10.11.12 CRODA INTERNATIONAL PLC. (YORKSHIRE, U.K.) 165
10.11.13 ADDINOL LUBE OIL GMBH (LEUNA, GERMANY) 166
10.11.14 ADVANCED LUBRICATION SPECIALITIES INC. (PENNSYLVANIA) 166
10.11.15 AMALIE OIL CO. (FLORIDA, U.S.) 166
*Details might not be captured in case of unlisted companies.
11 APPENDIX 167
11.1 INSIGHTS FROM INDUSTRY EXPERTS 167
11.2 DISCUSSION GUIDE 168
11.3 KNOWLEDGE STORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL 171
11.4 INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE 173
11.5 AVAILABLE CUSTOMIZATIONS 174
11.6 RELATED REPORTS 174
11.7 AUTHOR DETAILS 175

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