Market Overview

Global Gear Oils Market 2018-2023: Growing Demand from Wind Energy to Increase Consumption - ResearchAndMarkets.com

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The "Global
Gear Oils Market - Segmented by Type, End-user Industry, and Geography -
Growth, Trends, and Forecast (2018 - 2023)"
report has been
added to ResearchAndMarkets.com's offering.

The gear oils market is estimated to be valued at 2,110.02 kilotons in
2018 and is expected to register a CAGR of 2.19% during the forecast
period, 2018-2023.

Growing Demand from Wind Energy to Increase the Consumption

Gear oils find their applications in wind turbines for lubrication of
the main gearbox and other gear motor components. There is a rising
demand for synthetic gear oils in wind turbines due to their enhanced
properties over their mineral based counterparts due the performance
additives used during the formulation of synthetic oils, as per the
requirement.

Power generation from wind energy is growing at a rapid pace globally
with continuously increasing installed capacities of wind turbines every
year. The decrease in the prices in the offshore industry has been one
of the contributors to the growth of wind power generation market by
generating investments in the offshore industries in Europe, North
America and Asia-Pacific regions, which is further expected to boost the
demand for gear oils during the forecast period.

Key Highlights

  • Automotive Sector - The Dominating Segment
  • United States to Witness Moderate Growth

Developments in the Market

  • March 2018: A 20-year contract has been signed between Brazilian
    energy and logistics company Cosan SA Industria e Comercio and Exxon
    Mobil to produce, import, distribute, and sell certain Mobil products
    in four South American countries.
  • May 2017: Total Lubricants and CLAAS, a major player in the
    agriculture machinery industry, renewed their partnership until 2021.

Key Topics Covered

1. Introduction

2. Executive Summary

3. Market Insights

4. Market Dynamics

5. Market Segmentation & Analysis

6. Regional Market Analysis

7. Competitive Landscape

8. Company Profiles

  • BP PLC
  • China Petroleum & Chemical Corporation (Sinopec)
  • Chevron Corporation
  • Exxon Mobil Corporation
  • FUCHS
  • Gazprom Neft PJSC
  • Gulf Oil Corporation Limited
  • Idemitsu Kosan Co. Ltd.
  • Indian Oil Corporation Ltd.
  • JX Nippon Oil & Energy Corporation
  • Lukoil
  • Royal Dutch Shell Plc.
  • Total

For more information about this report visit https://www.researchandmarkets.com/research/brzlrc/global_gear_oils?w=4

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