Automotive Gear Oil Market 2022
New Study Reports “ Automotive Gear Oil Market 2022 Global Market Opportunities, Challenges, Strategies and Forecasts 2029” has been Added on PMR.
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.
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).
The growth of the market can be attributed to the increasing demand for Automotive Gear Oil from the automotive and transportation industry. Asia Pacific is expected to be the fastest-growing region in the Automotive Gear Oil Market during the forecast period.
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The increasing demand for Automotive Gear Oil from the automotive and transportation industry, owing to its properties such as high viscosity index, thermal stability, and resistance to oxidation, is driving the growth of the Automotive Gear Oil Market. Asia Pacific is expected to be the fastest-growing region in terms of market share and CAGR during the forecast period. China is estimated to lead the Asia Pacific Automotive Gear Oil Market in terms of market share and volume in 2022.
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.
The report has profiled some of the important players prevalent in the global like –
- DEUTZ Aktiengesellschaft
- Honda Motor Co., Ltd.
- Brunswick Corporation
- Suzuki Motor Corporation
- BRP Inc.
- Tohatsu Corporation
- Yamaha Motor Co., Ltd.
- LEHR, LLC
- Kräutler Elektromaschinen Gmbh
- Volvo Penta
- Yongkang Longxiao Industry
- Parsun Power Machine Co., Ltd and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Automotive Gear Oil Market.
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Key Takeaways of Automotive Gear Oil Market Study
- The demand for high gear oil performance has significantly increased, requiring better EP performance and higher replacement rate in off-road and heavy vehicles, which is projected to result in market growth.
- In recent times, preventive maintenance has emerged as a new trend among car owners to keep their vehicles performing well and updated, resulting in scheduled oil changes. This is anticipated to positively impact the growth of the automotive gear oil market over the forecast years.
- By transmission, trends change regionally, as the number of vehicles with automatic transmission is very high in North America, contrary to that in the Middle East and Africa. However, over time, demand is anticipated to grow with increase in the number of automatic transmission vehicles across the world.
- East Asia is anticipated to hold a dominant share in the global automotive gear oil market due to increasing automotive production in China.
- Synthetic-based automotive gear oil is anticipated to be remain popular across the globe through 2029.
Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)
Automotive Gear Oil Market Manufacturers
Automotive Gear Oil Market Distributors/Traders/Wholesalers
Automotive Gear Oil Market Subcomponent Manufacturers
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Key Questions Answered in the Automotive Gear Oil Market Report
How is the Automotive Gear Oil market expected to grow over the projected period?
What direction is the Automotive Gear Oil market expected to take in terms of volume and value during the forecast period?
What is the impact of macroeconomic factors on the Automotive Gear Oil market in future?
What are the key market drivers in the Automotive Gear Oil market?
What are significant opportunities and improvement areas for Automotive Gear Oil manufacturers?
What are the key developments and trends taking over the Automotive Gear Oil market?
Which are the emerging countries that are expected to create significant growth opportunities in the Automotive Gear Oil market?
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