U.S. Gear Oil Prices 2025, Size, Trend, Graph, Chart and Forecast
North America
The North American Gear Oil market remained relatively stable during Q4 2024, in stark contrast to the volatility of the previous quarter. While minor price fluctuations occurred, overall market dynamics stayed balanced.
In October, Gear Oil prices saw a slight uptick, primarily driven by rising upstream Crude Oil costs, which led to higher manufacturing expenses. Additionally, increased demand from the automotive sector contributed to greater market activity. Preliminary sales data from major automakers, including GM, Stellantis, and Tesla, indicated robust growth in the automotive sector. A total of 1,327,307 units were sold, reflecting a significant 12.8% month-over-month increase.
However, this upward momentum was short-lived. By December, demand from the downstream lubricants sector had weakened, leading to softer consumer sentiment. Additionally, the consistent stability in base oil feedstock prices kept manufacturing costs unchanged, reinforcing market steadiness.
Get Real time Prices for Gear Oil: https://www.chemanalyst.com/Pricing-data/gear-oil-1570
APAC
The APAC Gear Oil market experienced price stability in Q4 2024 compared to the previous quarter, with only minor fluctuations throughout the period. In October, a slight increase in Gear Oil prices was recorded, driven by higher Crude Oil costs, which subsequently raised production expenses. Demand from the downstream automotive sector also strengthened, leading to a modest rise in inquiries.
According to the Federation of Automobile Dealers Associations, October saw a sharp rise in vehicle sales, reaching 4,083,159 units—a substantial 75.3% increase from the previous month. However, this growth trend did not persist into December, as demand from the lubricants sector declined, dampening overall market sentiment. Furthermore, a steady drop in base oil feedstock prices throughout November contributed to lower manufacturing costs.
Europe
The European Gear Oil market exhibited a downward trend in Q4 2024 compared to the previous quarter, despite some minor price fluctuations. In October, Gear Oil prices saw a marginal increase, mainly due to higher Crude Oil prices, which drove up manufacturing costs. A surge in demand from the automotive sector also led to a slight rise in product inquiries.
However, this upward trend was short-lived. By November, demand from the downstream lubricants sector weakened, leading to a slowdown in market activity. In December, new passenger car registrations in Germany declined, with 224,721 new vehicles registered—an 8.1% decrease from the prior month, according to data from the KBA. Additionally, falling base oil feedstock prices throughout November played a crucial role in lowering production costs for Gear Oil manufacturers.
Get Real time Prices for Gear Oil: https://www.chemanalyst.com/Pricing-data/gear-oil-1570
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