Latest News- Industrial Gear Oil Market: Manufacturing is expected to lead the Application segment during 2025-2029

The Industrial Gear Oil Market is being driven by Increase in plant automation

The Industrial Gear Oil Market is expected to grow at a CAGR of 2.7% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 105.7 million. The Industrial Gear Oil Market is witnessing a significant trend towards the production of industry-specific gear oils. Two distinct categories of market participants exist: those providing generic products and those specializing in industry-specific offerings. Notable companies, including Royal Dutch Shell and Exxon Mobil Corporation, are shifting their focus to cater to the unique requirements of various industries. Exxon Mobil's Mobil Serv Engineering Services branch offers a comprehensive range of lubricant solutions and plant studies, making it a key player in this sector. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Manufacturing
  • Mining
  • Agriculture
  • Energy
  • Others
• Product
  • Mineral
  • Synthetic
  • Semi-synthetic
  • Bio-based
• Variant
  • ISO VG 320
  • ISO VG 220
  • ISO VG 460
  • Others
• Geography
  • North America
    • Canada
    • Mexico
    • US
  • APAC
    • China
    • India
    • Japan
  • Europe
    • Germany
    • UK
    • France
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increase in plant automation
• Global urbanization and industrialization
• Growth in global construction industry

However, the market also witnesses some limitations, which are as follows:

• Volatility in raw material prices
• Increasing adoption of automatic lubrication systems
• Decrease in mining-related investments

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Market Scope in Industrial Gear Oil Market Research Report

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Research Analysis Overview

The Industrial Gear Oil Market encompasses gear oil formulations and additive packages, with focus on base oil viscosity for optimal temperature performance, low-temperature pumpability, and high-temperature stability. Key considerations include gear mesh lubrication, tooth surface protection, and wear reduction through fatigue resistance and gear efficiency. Energy efficiency, power loss reduction, and operating costs are also crucial. Vibration analysis, oil degradation, contaminant control, and water ingress are critical for maintaining gear health. Filter technology, oil change intervals, lubrication intervals, and lubricant selection are essential for performance evaluation and cost-benefit analysis. Maintenance schedules, lubricant inventory, and oil management systems are important for efficient implementation. Digital twin technology, predictive analytics, remote diagnostics, sensor technologies, and automation solutions enhance sustainability through closed-loop systems. Bio-based additives, vegetable oil-based lubricants, renewable lubricants, and low-emission lubricants contribute to green manufacturing.

Market Research Overview

The industrial gear oil market is a significant segment of the commodity chemicals industry, focusing on the production and distribution of gear lubricants for heavy-duty equipment and industrial gearboxes. Key product offerings include synthetic and mineral gear oils, which provide essential properties such as anti-wear and oxidation resistance. Market growth is driven by the increasing demand for robust and efficient gear systems in various industries, including manufacturing, mining, and power generation. As a result, the global commodity chemicals market, which encompasses companies producing industrial and basic chemicals, is expected to expand due to the growing demand for gear oils and other related products.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/