Press release
United States Gear Oil Market Forecast 2025 - 2031: Market Size, Growth Trends & Leading Companies | Royal Dutch Shell, ExxonMobil, BP PLC
Gear Oil Market
The growth is driven by rising industrialisation, expanding automotive production, and increasing demand for high-performance lubricants that reduce wear and extend gear system life. Advances in eco-friendly and synthetic gear oil formulations, along with stringent regulations ensuring lower emissions and better fuel efficiency, also support market expansion. Growth is steady amid challenges from alternative technologies like electric vehicles, emphasizing innovation and sustainability in gear oils.
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United States: Key Industry Developments
✅ November 2025: Increasing adoption of synthetic and eco-friendly gear oils driven by stricter environmental regulations and growing electric vehicle market focused on advanced drivetrain lubrication.
✅ October 2025: ExxonMobil, Shell, and Chevron introduced new high-performance synthetic gear oils with enhanced wear protection, thermal stability, and fuel efficiency improvements for both passenger and commercial vehicles.
✅ August 2025: Rise in wind turbine installations accelerated demand for specialized gear oils with superior oxidation stability and low toxicity, benefiting manufacturers like BP and Fuchs Petrolub.
✅ April 2025: Growing use of IoT-enabled predictive maintenance and smart lubrication systems improved operational efficiency in industrial machinery, driving demand for advanced gear oils.
Japan: Key Industry Developments
✅ October 2025: Japanese companies like Idemitsu Kosan and ENEOS Corporation advanced bio-based and low-VOC gear oils to align with national emission reduction policies and sustainability goals.
✅ September 2025: China and India's rapid industrialisation boosted demand for high-performance gear oils, with a focus on extending lubricant life and reducing maintenance downtime.
✅ July 2025: Increasing automotive production in Asia-Pacific raised demand for specialised gear oils designed for electric and hybrid drivetrains, supporting major regional lubricant producers.
Mergers & Acquisitions (2025) - Gear Oil Market:
✅ Fuchs Group - acquired Lubcon International in April 2023 to broaden its portfolio with advanced gear oil solutions, enhancing presence in Nigeria and Africa.
✅ ExxonMobil, Royal Dutch Shell, BP, and Total - continue strategic partnerships and expansions focusing on synthetic and eco-friendly gear oils catering to automotive and industrial sectors.
✅ Castrol - introduced specialised EV transmission fluids to support the growing electric vehicle market, aligning product innovation with evolving automotive technology.
Key Players:
➡ Royal Dutch Shell Plc. - A global energy company producing lubricants, fuels, and petrochemical products.
➡ ExxonMobil Corporation - Manufactures high-performance lubricants and synthetic base oils.
➡ BP PLC - Provides advanced lubricants and greases under the Castrol brand.
➡ Chevron Corporation - Develops premium lubricants and fuel additives for automotive and industrial use.
➡ Total S.A. - Offers a wide range of lubricants and specialty fluids for global markets.
➡ PetroChina Company Limited - Engages in oil exploration, refining, and lubricant production.
➡ Sinopec Limited - Produces petroleum-based lubricants and industrial oils.
➡ Fuchs Petrolub SE - Specializes in independent lubricant manufacturing and customized formulations.
➡ Lukoil - Supplies automotive and industrial lubricants globally.
➡ Idemitsu Kosan Co., Ltd. - Produces high-quality lubricants and base oils for vehicles and machinery.
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Key Segments:
➥ By Base Oil: Synthetic, Semi-synthetic, Bio-based
➥ By End-User: Power Generation, Metal Production, Mining, Construction, Oil & Gas, Automotive, Others
Latest Industry News and Product Launches:
-Jiangsu Lopal Technology launched Lopal G2 Heavy Duty Industrial Closed Gear Oil in mid-2024, designed to extend machinery life and reduce maintenance costs under high-load and extreme conditions.
-Increasing demand from automotive, construction, and wind energy sectors is driving the need for synthetic and eco-friendly gear oils with advanced additive technologies for enhanced performance and durability.
-Companies are focusing on smart lubrication solutions integrated with IoT for predictive maintenance and operational efficiency.
-Asia-Pacific, led by China and India, is the fastest-growing region, fueled by rapid industrialization and infrastructure development; North America and Europe lead in adoption of advanced synthetic formulations.
Market Dynamics and Growth Drivers:
-Growing automotive production and expansion of the construction industry are driving demand for gear oil, as it plays a critical role in lubricating gears and bearings to ensure smooth operation and reduce wear-and-tear.
-Increasing adoption of synthetic and high-performance gear oils is boosting market growth due to their superior thermal stability, oxidation resistance, longer drain intervals, and eco-friendly properties aligned with stricter emission regulations.
-Technological advancements such as digitalization, predictive maintenance, and improved additive technologies are enhancing gear oil efficiency and durability, meeting the evolving lubrication needs of various industries including automotive, heavy equipment, and power generation.
-Asia-Pacific dominates the market with rapid industrialization, urbanization, infrastructure development, and growing vehicle production, supported by significant investments in power generation and manufacturing sectors.
Research Process:
Both primary and secondary data sources have been used in the Global Gear Oil Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.
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Q1: What is the current size of the Gear Oil Market?
A: In 2023, the Gear Oil Market was valued at US$14.01 million, reflecting its strong industry presence.
Q2: How large is the Gear Oil Market expected to be by 2031?
A: By 2031, industry forecasts suggest the Gear Oil Market will grow to around US$ 16.98 million, demonstrating significant expansion.
Q3: What is the growth rate of the Gear Oil Market?
A: The market is projected to expand at a compound annual growth rate (CAGR) of 2.43% during the forecast period from 2023 to 2031.
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