Electrification of vehicles has increased in tandem with the need for higher torque values and higher speeds. Dealing with these demanding conditions requires gear oil that is formulated to achieve optimum results in a number of ways. Owing to this, manufacturers are focused on providing high performance synthetic oils that economize fuel consumption and also maximize performance.
This is expected to propel the demand for automotive gear oil through 2029. Automotive gear oil demand is directly dependent upon the production of automobiles, particularly passenger cars that hold a significant share in the global market. According to our research report, the automotive gear oil market is estimated to reach US$ 18.6 Bn by the end of 2029, progressing at a CAGR of 4% over the forecast period (2019-2029).
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FACTS AT A GLANCE
Companies: Royal Dutch Shell plc,Exxon Mobil Corporation ,China National Petroleum Corporation ,Hindustan Petroleum Corporation Limited ,FUCHS LUBRICANTS CO. ,BP P.L.C.,TOTAL S.A.,ZF Friedrichshafen AG,Valvoline LLC,Chevron Corporation,Hengst SE & Co. KG,Ferdinand Bilstein GmbH Co. KG,Elofic Industries Limited,VIEROL AG
Coverage: All major geographies and key segments
Segments: Automotive Gear Oil Market Segmented By Mineral-based Gear Oil, Synthetic Gear Oil sources with Automatic Transmission, Manual Transmission in Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Off-road Vehicles types
Geographies: North America (U.S., Canada),Latin America (Mexico, Brazil, Argentina, Chile, Peru),Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe),CIS and Russia,Asia-Pacific (China, India, ASEAN, South Korea),Japan,Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
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Persistence Market Research (PMR) recently published a study report on the global automotive gear oil market. The report provides detailed valuation on key market dynamics, such as the drivers, trends, opportunities, and restraints, along with detailed information about the automotive gear oil market structure. This market research report presents exclusive facts and figures about how the automotive gear oil market will grow over the forecast period.
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Key indicators of market growth, such as value chain analysis and supply chain, compounded annual growth rate (CAGR), and year-on-year (Y-o-Y) growth of the market are explained in PMR’s study in a comprehensive manner. This information can help readers understand the quantitative development projections of the automotive gear oil market over the forecast period.
The study is relevant for stakeholders in the automotive gear oil market, as well as manufacturers, distributors, suppliers, and investors, as it can help them understand applicable strategies to grow in the market. Stakeholders, investors, industry experts, researchers, and journalists, as well as business researchers in the automotive gear oil market can leverage the information and statistics presented in PMR’s research report.
The report includes facts & figures related to the macro as well as macroeconomic factors that are impacting the growth of the automotive gear oil market. The study also offers actionable insights based on the future trends in the automotive gear oil market. Furthermore, regional players and new entrants in the automotive gear oil market can also use the information presented in this report to make business decisions and gain momentum in the market.
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