Gear Oil Market is estimated to reach US$ 16.98 million by 2031 | Major players - Royal Dutch Shell Plc., ExxonMobil Corporation, BP PLC, Chevron Corporation

Market Size and Growth:

The Global Gear Oil Market size was worth US$ 14.01 million in 2023 and is estimated to reach US$ 16.98 million by 2031, growing at a CAGR of 2.43% during the forecast period (2024-2031).

The Gear Oil Market report, published by DataM Intelligence, provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. Committed to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Through a combination of qualitative and quantitative research methods, it offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.

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The Gear Oil Market involves the production, distribution, and sales of specialized lubricants designed for gear systems in automotive, industrial, and machinery applications. These oils reduce friction, prevent wear, and enhance efficiency and durability of gear components. The market is driven by growing automotive demand, industrial machinery use, and advancements in synthetic and high-performance lubricants globally.

Recent Key Developments of United States:

✅ December 2025: Tariffs between the US and other countries impacted the gear oil market by restricting imports of extreme-pressure additives from Belgium and Japan, raising wear-and-tear risks for industrial gearboxes and wind turbine operations.​

✅ November 2025: The US industrial gear oils market, valued at $13.01 billion, saw growth driven by demand for advanced formulations with anti-wear properties amid expanding manufacturing and power generation sectors.​

✅ October 2025: Infrastructure projects boosted opportunities for synthetic and bio-based gear oils, aligning with sustainability goals and regulatory pushes for eco-friendly lubricants.​

Recent Key Developments of Japan:

✅ December 2025: Automotive production rose, with Suzuki hitting 3.3 million units globally, increasing demand for high-performance gear oils to support engine efficiency.​

✅ November 2025: Precision gear oil demand grew in EVs and advanced transmissions like CVT and DCT, requiring oils with superior viscosity stability and oxidation resistance.​

✅ October 2025: Adoption of bio-based gear oils accelerated due to regulations targeting 59% non-fossil fuel power by 2030, favoring biodegradable additives in industrial applications.​

List of the Key Players in the Gear Oil Market:

Royal Dutch Shell Plc.
ExxonMobil Corporation
BP PLC
Chevron Corporation
Total S.A.
PetroChina Company Limited
Sinopec Limited
Fuchs Petrolub SE
Lukoil
Idemitsu Kosan Co., Ltd

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This Report Covers:

✔ Go-to-market Strategy.

✔ Neutral perspective on the market performance.

✔Development trends, competitive landscape analysis, supply side analysis, demand side analysis, year-on-year growth, competitive benchmarking, vendor identification, and other significant analysis, as well as development status.

✔Customized regional/country reports as per request and country level analysis.

✔ Potential & niche segments and regions exhibiting promising growth covered.

✔ Analysis of Market Size (historical and forecast), Total Addressable Market (TAM), Serviceable Available Market (SAM), Serviceable Obtainable Market (SOM), Market Growth, Technological Trends, Market Share, Market Dynamics, Competitive Landscape and Major Players (Innovators, Start-ups, Laggard, and Pioneer).

Segments Covered in the Gear Oil Market: CCC

Regional Analysis:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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Chapter Outline

⏩ Market Overview: It contains five chapters, as well as information about the research scope, major manufacturers covered, market segments, Gear Oil market segments, study objectives, and years considered.

⏩ Market Landscape: The competition in the Global Gear Oil Market is evaluated here in terms of value, turnover, revenues, and market share by organization, as well as market rate, competitive landscape, and recent developments, transaction, growth, sale, and market shares of top companies.

⏩ Companies Profiles: The Global Gear Oil market's leading players are studied based on sales, main products, gross profit margin, revenue, price, and growth production.

⏩ Market Outlook by Region: The report goes through gross margin, sales, income, supply, market share, CAGR, and market size by region in this segment. North America, Europe, Asia Pacific, Middle East & Africa, and South America are among the regions and countries studied in depth in this study.

⏩ Market Segments: It contains the deep research study which interprets how different end-user/application/type segments contribute to the Gear Oil Market.

⏩ Market Forecast: Production Side: In this part of the report, the authors have focused on production and production value forecast, key producers forecast, and production and production value forecast by type.

⏩ Research Findings: This section of the report showcases the findings and analysis of the report.

⏩ Conclusion: This portion of the report is the last section of the report where the conclusion of the research study is provided.

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