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Industrial Gear Oils (Mineral & Synthetic) Market size is forecast to reach US$5.2 billion by 2027, after growing at a CAGR of 3.8% during the year 2022-2027.

HYDERABAD, TELANGANA, INDIA, January 20, 2023 /EINPresswire.com/ -- Industrial Gear Oils (Mineral & Synthetic) Market size is forecast to reach US$5.2 billion by 2027, after growing at a CAGR of 3.8% during the year 2022-2027. Industrial gear oil is a lubricant that is used in gears (gearboxes) to reduce friction and wear on the gear tooth surfaces, as well as to remove heat produced by the operating gears. The most used additives in gear oils are dithiocarbamate, dibutyl phosphite, and more. They impart excellent thermal stability and oxidation resistance, as well as good demulsibility and low foaming tendency, and they protect metal surfaces from rust and corrosion. The use of gear oil in industrial facilitates helps in delivering high performance, corrosion and oxidation resistant machinery with enhanced operational performance, which drives the growth of the industrial gear oil market. The transportation industry is growing at a considerable rate in various regions owing to which the demand for engine lubricants is expediting, which is the major factor driving the market growth.

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Key takeaways:

This IndustryARC report on the Industrial Gear Oils (Mineral & Synthetic) market highlights the following areas -

1. Asia-Pacific dominates the industrial gear oils (mineral & synthetic) market, owing to the increasing aerospace, marine, and locomotive sector in the country. The increasing per capita income and evolving lifestyle of individuals coupled with the rising population are the major factors expanding the aerospace, marine, and locomotive sector in APAC.

2. The marine, locomotive, and aerospace industries have increased steadily in the recent past and are expected to further increase in the coming years, owing to the increasing per capita income coupled and the increasing population. This factor is expected to fuel the demand for the industrial gear oil market.

3. Furthermore, growth opportunities exist for the industrial gear oil market as there will be an increase in government initiatives and investments in the renewable wind energy industry to fulfill the country’s carbon emission target, which will spur the overall market growth.

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Segmental Analysis:

1. Industrial Gear Oils (Mineral & Synthetic) Market Segment Analysis – By Gear Configuration : Helical gears are utilized in the high load manufacturing industries such as textile, construction equipment, and more because these industries require heavy load efficiencies. Nevertheless, the excessive pressure generated during the production process can cause frequent breakdowns, which can impact the performance of the helical gears. Industrial gear oils have superior properties including anti-foam of less than 0.1%, high-viscosity 145.3, and more such properties. These properties make its use ideal for the high load manufacturing application.

2. Industrial Gear Oils (Mineral & Synthetic) Market Segment Analysis – By Base Oil : Synthetic gear oils are produced from polyalphaolefin (PAO), polyglycol (PAG), and other base stocks. They are used in applications where mineral oils have reached their performance limitations. ?Synthetic gear oils have superior performance capabilities in high and low-temperature applications. They have also been used in exceptionally high load-bearing gearboxes. The performance limitations of mineral gear oils have prompted the development of synthetic gear oils. Although certain additions can improve the qualities of mineral oils, several physical features, such as thermal resistance, pour point, flash point, and evaporation losses, cannot be changed.

3. Industrial Gear Oils (Mineral & Synthetic) Market Segment Analysis – By Application : In industries such as construction, steel, and more, gearboxes have to function with extreme pressure loads, which cause heat fluctuation, which damages the gearboxes. Since industrial gear oils provide uninterrupted operation and long service life. It is used in expensive gear applications, including those that are exposed to temperature extremes. The factors such as increasing building and construction activities worldwide are propelling the demand for equipment such as concrete mixers, bulldozers, and more.

Competitive landscape:

The top 5 players in the Industrial Gear Oils (Mineral & Synthetic) industry are:

1. Shell PLC
2. Petronas Lubricants International
3. BP PLC
4. Phillips 66
5. China Petroleum & Chemical Corporation (Sinopec Corp.)

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