Menu ×


Open Gear Lubrication Market Segmentation By Type (Asphaltic, Semi-fluid greases, Semi-fluid greases cutback, Gel/polymer-thickened types, High-viscosity synthesis); By Grade (Low, Medium, and High); By End-use (Construction, Mining, and Power generation) - Global Demand Analysis & Opportunity Outlook 2027

  • Text Size:

Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

Request Insights

Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

Read More

Market Overview

Open gear drives are used widely in applications that require high load carrying capacity and sustained service life under tremendous shock load condition. Due to these characteristics open gear drives are also known as heavy duty gear drives. Gear drives have been categorized into two types. Type 1 utilizes a rack whereas Type 2 utilizes a gear or series of gears. Type 1 is primarily used on the cable hoist drums, swing motion drives; drag drives of mining shovels, draglines and excavators. Type 2 is mainly used to power stationary or semi-stationary equipment such as kilns, rotary furnaces, finishing mills, dryers, debarkers, grinding mills, rubber mills, and paper mills.

Open gear lubricants are primarily utilized to reduce wear and provide shock load protection during typical operations. There are various characteristics for the selection of open gear lubricants, which include suitability of the lubricant for the existing gear design, production equipment, existing application unit, and process.

Open gear lubrication must possess certain characteristics to sustain higher loads and work efficiently like excellent adhesive property, resistance to water washout, load-carrying capability to protect against friction, protection of the gears against wear and corrosion, vibration reduction, no build up in the roots of the gear teeth, drainable for ease of removal from guards.

Market Size and forecast

The global open gear lubricant market is anticipated to witness a steady growth as mining industry is following a significant growth. The mining industry across the globe depends upon the performance of various down-stream end-use sectors. This makes the mining industry correlated with the overall global economic scenario. Political turmoil, slow economic growth, growing protectionism, etc., are some of the factors which have led to decreased commodity demand and weakened investor confidence, in turn, resulting into subdued growth of the global mining industry in the recent past.

Moreover, developing countries are pushing the demand of open gear lubricants due to high level of construction & increasing impetus of government on machinery industry. Rise in demand of open gear lubricants is due to increasing requirement from manufacturing units, automobiles and construction machines, to carry out smoother working and increase the durability of the equipment. The increasing number of vehicles and machinery in the manufacturing facilities, mining and construction is likely to bring about an upswing in the growth trajectory of this sector.

Considering different regions, Asia pacific is expected to lead with highest growth rate. APAC is facing a rapid expansion of the industrialization, construction & mining that are pushing the overall demand for the open gear lubricants. A considerable amount of investments are done by the major players in the region that is leading to growth prospects in the open gear lubricants market. China dominates APAC with several industrial activities on-going in the country.

Moreover, the demand upsurge in the Indian industrial lubricants market is also evident. North American market would grow at moderate rate due to saturation of market. Europe would follow the same path as market conditions are more or less similar to North American market. Latin America is expected to grow at a significant rate over the estimated period, due to increasing investments in the mining industry across countries like Brazil, Peru, and Chile. Middle East & Africa is expected to account for a small share in the global open gear lubricant market, and is further expected to grow at a slow rate in the near future. CLICK TO DOWNLOAD SAMPLE REPORT

Market Segmentation

Our in-depth analysis segmented the global open gear lubricant market in the following segments:

By Type

  • Asphaltic
  • Semi-fluid greases
  • Semi-fluid greases cutback
  • Gel/polymer-thickened types
  • High-viscosity synthesis

By Grade

  • Light
  • Medium
  • Heavy

By End User

  • Mining
  • Construction
  • Power Generation
  • Other

By Region

Global open gear lubricant market is further classified on the basis of region as follows:

  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis.
  • Latin America (Brazil, Peru, Chile, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX, Turkey Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (GCC, Israel, North Africa, South Africa, Rest of Middle East) Market size, Y-O-Y growth & Opportunity Analysis

Growth Drivers

Growing urbanization in developing countries

The global open gear lubrication market is expected to grow at constant rate for the forecasted period. If the political turmoil stabilizes end user industries are bound to perform better. Urbanization & industrialization in the emerging economies such as India, Brazil, Mexico, and China requires the end- user applications in industrial machinery to use gear oil in more quantities which is expected to foster the growth of this sector at a global level. Also, the rising spending on construction activities in Asia-Pacific and South America is a major driver for the growth of this industry. Rising investments in public transportation and increasing construction renovation activities in the region are expected to open new avenues for the market growth over the projected period.


Political instability will hinder the market growth    

Political turmoil will hamper the growth of industries. Political instability will slow down the economic growth. Industries like construction, mining would be severely impacted and this would affect the market for open gear lubricants.

Key Players

  • Exxon Mobil Corporation
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Lubrication Engineers
  • Bel-Ray Company
  • ROCOL (ITW Division)
  • Texas Refinery Corp.
  • Molygraph
  • Ipol
  • Brugarolas

Related Reports

Disclaimer | Privacy Policy | Terms & Conditions | LOB

Copyright © 2022 Research Nester. All Rights Reserved