Global Gear Oils Market to Reach $9 Billion by 2027
Amid the COVID-19 crisis, the global market for Gear Oils estimated at US$8.1 Billion in the year 2020, is projected to reach a revised size of US$9 Billion by 2027, growing at a CAGR of 1.5% over the analysis period 2020-2027. Mineral Oil, one of the segments analyzed in the report, is projected to record a 1.6% CAGR and reach US$4.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Synthetic Oil segment is readjusted to a revised 1.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $2.2 Billion, While China is Forecast to Grow at 3% CAGR
The Gear Oils market in the U.S. is estimated at US$2.2 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$1.7 Billion by the year 2027 trailing a CAGR of 3% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.1% and 1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 0.5% CAGR.
Semi-Synthetic Oil Segment to Record 1.6% CAGR
In the global Semi-Synthetic Oil segment, USA, Canada, Japan, China and Europe will drive the 1.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.5 Billion in the year 2020 will reach a projected size of US$1.7 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.2 Billion by the year 2027, while Latin America will expand at a 2.3% CAGR through the analysis period.
Select Competitors (Total 41 Featured):
Amid the COVID-19 crisis, the global market for Gear Oils estimated at US$8.1 Billion in the year 2020, is projected to reach a revised size of US$9 Billion by 2027, growing at a CAGR of 1.5% over the analysis period 2020-2027. Mineral Oil, one of the segments analyzed in the report, is projected to record a 1.6% CAGR and reach US$4.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Synthetic Oil segment is readjusted to a revised 1.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $2.2 Billion, While China is Forecast to Grow at 3% CAGR
The Gear Oils market in the U.S. is estimated at US$2.2 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$1.7 Billion by the year 2027 trailing a CAGR of 3% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.1% and 1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 0.5% CAGR.
Semi-Synthetic Oil Segment to Record 1.6% CAGR
In the global Semi-Synthetic Oil segment, USA, Canada, Japan, China and Europe will drive the 1.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.5 Billion in the year 2020 will reach a projected size of US$1.7 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.2 Billion by the year 2027, while Latin America will expand at a 2.3% CAGR through the analysis period.
Select Competitors (Total 41 Featured):
- ADDINOL Lube Oil GmbH
- Advanced Lubrication Specialities
- Amalie Oil Co.
- Bechem Lubrication Technology, LLC
- Bel-Ray Company LLC
- BP PLC
- Chevron Corporation
- Croda International PLC
- Eni SpA
- Exxon Mobil Corporation
- Fuchs Petrolub SE
- Indian Oil Corporation Ltd.
- Liqui Moly GmbH
- LUKOIL Lubricants Company
- Morris Lubricants
- Peak Lubricants Pty Ltd
- Penrite Oil
- PetroChina Company Limited
- Phillips 66 Company
- Rock Valley Oil & Chemical Co.
- Royal Dutch Shell PLC
- Sinopec Yangzi Petrochemical Co., Ltd.
- Total SA
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I. METHODOLOGY
II. EXECUTIVE SUMMARY
II. EXECUTIVE SUMMARY
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- Gear Oils - Market Overview
- Technology Trends - Lubricants
- Industrial Gear Oils - Select Trends
- Wind Turbine Gear Oils - Latest Trends
- Oil Leak - Key Issues
- Petroleum Standards
- Motor Oil - Latest Technology Advances
- Automotive Gears and Transmission Fluid - An Overview
- Industrial Gear Oils
- Common Lubrication Problems of Gearbox
- Active Players in United States
- Gearbox Lubricant Selection in the US - Indicators
- Gear Oil Labeling Requirements in California
- Active Players in Canada
- Active Players in Japan
- Active Players in China
- Active Players in France
- Active Players in Germany
- Active Players in Italy
- Active Players in United Kingdom
- Active Players in Spain
- Active Players in Russia
- Active Players in Rest of Europe
- Active Players in Australia
- Active Players in India
- Active Players in South Korea
- Active Players in Rest of Asia-Pacific
- Active Players in Argentina
- Active Players in Brazil
- Active Players in Mexico
- Active Players in Rest of Latin America
- Active Players in Iran
- Active Players in Israel
- Active Players in Saudi Arabia
- Active Players in United Arab Emirates
- Active Players in Rest of Middle East
- Active Players in Africa
- Total Companies Profiled: 41
Note: Product cover images may vary from those shown
