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The Industrial Gear Oils Market is expected to reach $6,372 million by 2023

The Industrial Gear Oils Market

Asia Pacific dominates the Industrial Gear Oils Market during the forecast period is expected to generate a revenue of $3030.9 million by 2023 at CAGR of 1.99%.

HYDERABAD, TELANGANA, INDIA, June 28, 2018 /EINPresswire.com/ -- According to the new market research report by IndustryARC titled “Industrial Gear Oil Market By Type (Mineral, Synthetic, Food Grade, Worm Gear Oils); By Application (Manufacturing Industry,
Steel Industry, Mining, Construction, Agriculture, Energy and Others) and By Geography – Forecast (2018 - 2023)”, the market is driven by the growing industrial activities.

Asia Pacific dominates the Industrial Gear Oils Market

Asia Pacific dominates the Industrial Gear Oils Market during the forecast period. It is expected to generate a revenue of $3030.97 million by 2023 at a CAGR of 1.99%. The maximum share in the region is held by India and China, due to growing population and rapid industrialization in the region. The governments in the Asia Pacific region have launched different policies for driving the domestic economy. As a result, commercial segments are expected to grow rapidly. In China, the competition among the industrial gear oil manufacturers has become high in recent times, since multinational companies are concentrating on the Chinese market. India is the largest producer of coal and steel, and this drives the demand for industrial machinery which in turn spurs the demand for industrial gear oil in the region.

Selected Analysis done in the full Report:

The manufacturing segment in 2016 held a share of $2,201.2 million. It is expected to generate $2559.34 million by 2023 at a CAGR of 1.79%. The industrial gear lubricant has several applications in the manufacturing industry such as in paper, food, pulp, cement, textile, etc. The lubricants can provide protection against wear and tear, and oxidative stability.The gearbox machinery used in the food industry consists of lubrication of enclosed gear and conveyor applications, which needs the food grade lubricant to prevent food contamination caused by oils and greases. The manufacturing industry uses both mineral and synthetic oils. The application differs according to the requirements of the product or organization. European countries use synthetic gear oil as it prolongs the machine life for a longer duration.

To browse the table of contents of the report follow the link below:
https://industryarc.com/Report/1307/Industrial-gear-oils-market-analysis.html

Excerpts on Market Growth Factors

Use of industrial gear oils in wind mill applications drive the demand for gear oil.

Manufacturers are now choosing automated devices due to the increasing demand for goods, and for delivering goods in a short span of time.

Hydro Safe provides good anti-wear performance products in many applications and can be used as a substitute for conventional petroleum oil.

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Key players of the Industrial Gear Oils Market

Royal Dutch Shell PLC dominates the Industrial Gear Oils Market followed by TOTAL SA, BP PLC and Chevron Corp. Royal Dutch Shell PLC manufactures products such as Shell Omala S4 GX and Shell Omala S4 WE, which provide extra protection and life. TOTAL SA produces CARTER MS 100 for open gears in sugarcane mills. BP PLC manufactures EnergearLimslip 90, an automotive gear oil. Chevron manufactures open gear lubricants which minimize wear during the operations.

Industrial Gear Oils Market is segmented as below

Growing demand for efficient machinery in industries drive the demand for worm gear oil during the forecast period.

A. Industrial Gear Oils Market By Type
1. Mineral Gear Oil
2. Synthetic Gear Oil
3. Food Grade Gear Oil
4. Worm Gear Oil

B. Industrial Gear Oils Market By Application
1. Manufacturing
2. Steel
3. Mining
4. Construction
5. Agriculture
6. Energy
7. Others

C. Industrial Gear Oils Market By Geography (covers 14+ countries)
D. Industrial Gear Oils Market Entropy


Companies Citied / Interviewed
1. FUCHS LUBRITECH GMBH
2. ROYAL DUTCH SHELL PLC
3. EXXON MOBIL CORP.
4. PHILLIPS 66 LUBRICANTS
5. LUBRICATING SPECIALTIES COMPANY
6. AFTON CHEMICAL CORPORATION
7. TOTAL S.A.
8. BP P.L.C
9. CHEVRON CORPORATION
10. Company 10+


Related Report:

A.Composite Materials Market
https://industryarc.com/Report/246/composite-materials-market-analysis-report.html

B.Polyvinyl Chloride Resins Market
https://industryarc.com/Report/1282/Polyvinyl-Chloride-Resin-Market-report.html


What can you expect from the report?
The Industrial Gear Oils Market Report is Prepared with the Main Agenda to Cover the following 20 points:

1. Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
2. Market trends & Relevant Market Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis


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About IndustryARC:

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