Nov 11, 2020, 01:28 EST
Shibuya-ku, Tokyo, Japan, Japan, Nov 11, 2020, 01:28 /Comserve / -- Global Automotive Gear Oil Market is valued approximately USD billion in 2019 and is anticipated to grow with a healthy growth rate of more than over the forecast period 2020-2027.
Global Automotive Gear Oil Market is valued approximately USD billion in 2019 and is anticipated to grow with a healthy growth rate of more than over the forecast period 2020-2027. Automotive gears are rotating machine parts with cogs which couple to transmit torque with another rotating part. The substance is useful for lubricating gears, reducing engine heating, providing high transmission efficiency, protecting against rusting & corrosion, ensuring better oxidation and good friction of the clutch. The demand for automotive gear oil is driven by improved quality of gear oils, increasing automotive industry and rising luxury and high-end vehicle fleets. The surging production of both passenger and commercial vehicles is acting as a key driver towards the surge and development of automotive gear oil market. For Instance: According to International organization of motor vehicle manufacturers, the production of both passenger cars and commercial vehicles was on the surging trend in Brazil.
The production of vehicles witnessed a rise as around 2879809 units consisting of both passenger cars & commercial vehicles were produced in the year 2018 in comparison to 2699672 units in the year 2017 indicating a surge of around 5.4% which was the highest among the Latin American countries in the year 2018. The production of passenger cars accounted for 2386758 units in the year 2018 as compared to 2269468 units in the year 2017.
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The regional analysis of global Automotive Gear Oil Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the growing geriatric population and promptness & affordability of urgent care services coupled with the well-established healthcare infrastructure. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising disposable income, rising incidences of injuries and improving healthcare infrastructure would create lucrative growth prospects for the Automotive Gear Oil Market across Asia-Pacific region.
Major market player included in this report are:
Royal Dutch Shell plc
Exxon Mobil Corporation
China National Petroleum Corporation
Hindustan Petroleum Corporation Limited
FUCHS LUBRICANTS CO.
ZF Friedrichshafen AG
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Mineral-based Gear Oil
Synthetic Gear Oil
By Vehicle Type:
Light Commercial Vehicles
Heavy Commercial Vehicles
By Distribution Channel:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Automotive Gear Oil Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.
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Tel: + 81 3 45720790
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