Industrial
Gear Oil is a
lubricant fluid used in industrial gearboxes to reduce friction, protection
against corrosion and to ensure efficient, low maintenance operation of gears
at different speeds, temperature and oil contaminations. Gear
oil is made up of
two components: base oil and additives. Gear oils contain 80% to 90% base oil
and 10% to 20% additives. Base oil is produced by refining crude oil and Additives are added to enhance the lubricant
performance and extend the equipment life by imparting desirable properties to
the oil, such as reduced wear and friction, increase viscosity, corrosion and
oxidation protection and so on. Industrial gear oil is a part of lubricant oils. Lubricant
is a substance used to improve efficiency by providing lubricity. Lubricants
are used in many industries such as in manufacturing plants, motor vehicles,
railway locomotives, aero plane, agricultural pump sets, and generators and so
on.
Table of contents and insights:
Global Industrial Gear Oils
Market has
been segmented by different types such as mineral gear oil, synthetic gear oil,
food grade gear oil and worm gear oil. Industrial gear oil market has a wide
range of applications among different end users such as manufacturing
industries, steel industry, mining, construction, agriculture, energy and so
on. Each of these segments is further broken down to give an in-depth analysis
of the market.
"Rapid industrialization in
BRICS countries is the
main driving factor of this market"
Industrialization is associated with rapid technological
changes and manufacturing activities. Since the last decade, the BRICS
countries are
going through a phase of development in which industrialization has been an
integral part. Due to the rising demand for various products, the manufacturing
industry in BRICS countries is growing rapidly. This growth can be observed
across industries like mining, steel, construction and others. A gradual shift
from labour intensive manufacturing to capital intensive manufacturing like
chemical, machinery, electrical, optimal equipment and so on has increased the
consumption of industrial gear oil. Apart from the BRICS countries, Indonesia,
Mexico and South Korea are also considered as the emerging markets where
manufacturing activities are in the upward trend. Increasing industrial
activities is a major driving factor for the demand of industrial gear oil.
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Even though there has been a decline in the
global consumption of industrial gear oil due to factors like smaller gearboxes
and superior service life, the revenue is gradually increasing. China is a key
player in the textile manufacturing industry which is a key segment for
industrial gear oil as it is used in the textile manufacturing machineries. Industrial
gear oils for
manufacturing must have the capacity to handle extreme pressure and uneven high
loads.
Global Industrial Gear Oils Market Share, By Region 2014 (%)
Source: IndustryARC Analysis, Expert
Interviews
APAC region is the leading producer of industrial gear
oils and has the highest market share in the Global Industrial Gear Oil Market.
In the APAC region, China is one of the major manufacturers of industrial gear
oils. The European market is relatively smaller as compared to the APAC;
however, it is growing rapidly as well with the high CAGR. With In the global
arena, the APAC and Americas regions hold 66% of the Industrial gear oils
market share.
In this report, the market has been
segmented by geography as America, Europe, APAC and the Middle East &
Africa. Market size and forecast are provided for each of these regions. A
detailed qualitative analysis of the factors responsible for driving and
restraining growth of the industrial gear oil market and future opportunities
are provided as well in the report.
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Agriculture, Automotive, Chemicals and Materials, Energy and Power, Food and
Beverages, ICT, Electronics, Life sciences and Healthcare, Automation and
Instrumentation.
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