GVR Report cover Gear Lubricants Market Size, Share & Trends Report

Gear Lubricants Market Size, Share & Trends Analysis Report By Application, Regional Outlook, Competitive Strategies, And Segment Forecasts, 2019 To 2025

  • Report ID: GVR2309
  • Number of Pages: 0
  • Format: Electronic (PDF)

The global gear lubricants market is expected to be driven on account of increasing importance of lubrication properties such as friction reduction, wear, and tear protection in the manufacturing and automotive industries. Rising importance of condition based monitoring over breakdown maintenance in the manufacturing industry is expected to fuel gear lubricants market demand in the near future. Growing application of transmissions, differentials, and transfer gear boxes in the automotive industry is anticipated to fuel the demand for gear lubricants in the near future. Technological improvement in lubrication systems has resulted in increasing fortification of anti-wear and high pressure additives in gear lubricants and tap new markets. Deployment of synthetic oils in transmission boxes with exceptional wear resistance and high viscosity index is expected to have a favorable impact on the market. Increasing importance of marine transportation in light of rising application of LNG terminals is expected to result in amplifying scope of transmission lubrication in the shipping industry and is expected to tap new markets. Increasing application scope of hydraulic and slide way lubrication oils in gearboxes is expected to be a challenging factor for market growth. Gearbox manufacturers such as Nord and Bonglifuoli are focusing on the development of product offerings with less lubrication sump size and thus are likely to reduce the volumes of gear lubricants in the near future. Increasing application of sealed maintenance free gear boxes in automobiles is expected to be a key challenge for market growth over the forecast period.

Asia Pacific is expected to be a major market over the forecast period on account of increasing output in the manufacturing industry in light of low production costs in India and China as compared to countries of Europe and the U.S. Rising demand for automotive lubricants coupled with improvement of road network in India and China is expected to fuel the demand for gear lubricants. The implementation of Western Development Plan in China has resulted in enhancing production output of the manufacturing industry in Western China which is anticipated to augment market growth in the near future. Shipping industry growth in South Korea and Japan on account of increasing importance of LNG regasification hub is expected to have a favorable impact on the gear lubricants market over the forecast period. Strong crude oil manufacturing base in Russia and Saudi Arabia is expected to be a key driver for the gear lubricants market. In August 2015, the expansion of Suez Canal in Egypt is expected to be completed and is thus expected to foresee increased marine traffic in the region. This expansion of marine transportation in Egypt is foreseen to have a favorable impact on the demand for transmission lubricants in the near future.

Robust manufacturing base of the automotive industry in Germany and Italy coupled with high domestic demand is expected to have a positive impact on the gear lubricants industry over the forecast period. Increasing environmental concerns pertaining to reduction of green house gases emissions have resulted in stringent regulatory norms in Europe against the application of synthetic oils. This has resulted in increasing R&D expenditure for developing bio based lubricants and is foreseen to have a favorable impact on the gear lubricants market in the near future. North America is likely to be one of the potential key markets for gears lubricants on account of increasing trade with China and expansion of Panama Canal by 2016. In April 2012, the government of Brazil announced the Inovar-Auto program which promoted the growth of the automotive industry. This program has resulted in increasing manufacturing of automobiles and is anticipated to have a positive impact on the demand for gear lubricants over the forecast period.

Major players in the gear lubricants market include Gulf Petrochem Group, Bharat Lubricants, Bel-Ray Company, Morris Lubricants, IOCL, Sah Petroleums, Savsol, BPCL, Castrol Limited, Shell, ExxonMobil, British Petroleum and Valvoline Cummins Limited. In November 2014, Shell launched Naturelle S4 Stern Tube Fluid 100, its new range of Environmentally Acceptable Lubricants which meet US EPA Regulations. In January 2015, ExxonMobil launched Mobil SHC Gear 320 WT which is an advanced wind turbine lubricant with a seven year warranty. In March 2015, Dana Holding Corp. launched Spicer XFE 75W-90 which is an axle lubricant aimed at improving drive axle efficiency and reduce fleet operating costs.

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