Global Automotive Gear Oil Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Automotive Gear Oil Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by Trusted Business Insights. The global organic beverage market report has been segmented on the basis of product type, vehicle type, and region.

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Global Automotive Gear Oil Market: Introduction 

Automotive gear oil is lubricant used for protection and better performance of gears. Gear oils have anti-wear stabilizer and EP stabilizer or extreme pressure to deal with sliding action of gears. These gear oils have high viscosity level as compared to automotive engine oil and transmission fluid. There are two types of gear oils used in the automotive industry namely petroleum-based or mineral gear oil and synthetic gear oil.

Global Automotive Gear Oil Market: Dynamics 

Increasing demand for additives or lubricants for better performance and protection of engine from heat is a key factor driving the growth of the automotive gear oil market. Growing demand for commercial vehicles in countries namely Germany, the US, Canada, UK, France, China, Indonesia, India, etc. owing to rapidly growing industrial sector is estimated to drive the growth of the market. Moreover, the growing transportation industry across the globe is another factor estimated to drive the growth of the automotive gear oil market over the long run.

Global Automotive Gear Oil Market: Segment Analysis

Among the product type segments, the mineral gear oil segment is projected to grow steadily in the next 10 years. Presence wear reducing agents, oxidation inhibitors, and other additive contents provide wear resistance without use of chemical agents, which in turn drive the growth of the segment. The synthetic gear oil segment is projected to grow moderately. Synthetic gear oils are better than mineral gear oil as they reduce energy consumption due to its low friction coefficient and provide superior resistance to shear breakdown.

Among the vehicle type segments, the commercial vehicles segment is estimated to contribute a significant share in the global market. Growing demand for commercial vehicles in across globe is a key factor projected to drive the growth of this segment. The passenger cars segment is projected to register a moderate growth rate in the automotive gear oil market.

Global Automotive Gear Oil Market: Regional Analysis

North America automotive gear oil market is estimated to account major share in the automotive gear oil market in the next 10 years. Growing demand for gear oil in the region owing to large volume of motor vehicles is a key factor driving the growth of the North America market. Increasing sales of commercial vehicles in the region is another factor projected to drive the growth of the automotive gear oil market in North America in the next 10 years.

Asia Pacific automotive gear oil market is anticipated to grow at a steady growth rate over the next 10 years. Increasing demand for passenger cars in the countries in this region owing to rising spending power and changing living standards of consumers is projected to drive the growth of the target market in the Asia Pacific.

Global Automotive Gear Oil Market Segmentation:

Segmentation by Product Type:

Mineral Gear Oil
Synthetic Gear Oil
Others

Segmentation by Vehicle Type:

Passenger Cars
Commercial Vehicles