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市场调查报告书
商品编码
1701684

全球汽车齿轮油市场：产业分析、规模、份额、成长、趋势与预测（2025-2032 年）

Automotive Gear Oil Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2025 - 2032
出版日期: | 出版商: Persistence Market Research | 英文 238 Pages | 商品交期: 2-5个工作天内

价格
简介目录

预计 2025 年全球汽车齿轮油市场规模将达到 158 亿美元，到 2032 年将达到 213 亿美元，预测期内（2025-2032 年）的复合年增长率为 4.4%。

汽车齿轮油市场包括专为汽车变速箱、差速器和分动箱设计的润滑剂，确保在高压和高温下平稳运行和保护。齿轮油在减少磨损、防止腐蚀和提高传动系统部件的性能方面起着至关重要的作用。随着汽车产量的增加和现代传动系统变得越来越复杂，对高性能齿轮油的需求显着增加。此外，电动和混合动力汽车的成长正在重塑润滑油需求，推动製造商采用先进的合成配方和环保解决方案。

全球汽车齿轮油市场的成长主要得益于全球机动车辆数量的增加以及对车辆维护的日益重视，以确保长期性能和耐用性。商用车需求的激增，加上电子商务和物流业的蓬勃发展，导致高性能齿轮油的使用量增加。此外，齿轮油配方（如合成油和半合成油）的进步正在提高热稳定性、延长换油间隔并降低车主的整体维护成本。政府注重减少排放气体和提高燃油效率的法规也促使OEM和车队营运商采用优质润滑油，进一步加速市场扩张。

儘管成长轨迹看好，但汽车齿轮油市场仍面临诸多挑战。由于简化的传动系统结构通常需要更少或不需要传统齿轮油，因此向电动车 (EV) 的转变预计将在长期内减少需求。此外，原油价格的波动会影响矿物齿轮油的成本，导致价格波动。对废旧润滑剂处理的环境担忧以及有关油配方的严格法律规范也给製造商带来了重大障碍。此外，新兴市场中假冒仿冒品齿轮油产品氾滥，这可能会损害品牌信誉并影响用户信任。

面对这些挑战，汽车齿轮油市场提供了无数的成长和创新机会。合成齿轮油以其卓越的润滑性、耐高温性和长寿命而闻名，其日益普及为产品差异化和优质化开闢了新的途径。印度、巴西和东南亚国家等新兴经济体的汽车持有不断增加，为售后市场销售提供了有利的环境。此外，开发环保、生物分解性的齿轮油符合永续性目标，并在环境政策严格的市场中提供竞争优势。与汽车OEM建立战略合作伙伴关係以及对电动传动系统润滑油研发的投资被视为释放未来成长潜力的关键。

本报告研究了全球汽车齿轮油市场，并提供了按产地、传动类型、车辆类型、分销管道、区域趋势和公司概况分類的市场细分的详细资讯。

目录

第一章执行摘要

第二章 市场介绍

第三章 市场背景

  • 宏观经济因素
  • 全球汽车生产状况
  • 全球汽车齿轮油市场：价值链
  • 预测变数
  • COVID-19影响评估
  • 需求和供应分析
  • 波特五力分析
  • 市场动态

第四章 2019-2032 年全球市场分析与展望

第五章 世界市场分析（依来源地）

  • 简介/主要发现
  • 2019 年至 2024 年按产地分類的历史市场规模（十亿美元）和销售量（千公升）分析
  • 2019 年至 2024 年按来源分類的当前和未来市场规模（十亿美元）和产量（千升）分析与预测
    • 合成碱
    • 矿物质基
  • 按产地分析市场吸引力

第六章 全球市场分析（依传动类型）

  • 简介/主要发现
  • 2019 年至 2024 年按传动类型分類的历史市场规模（十亿美元）和销售量（千公升）分析
  • 2019 年至 2024 年按传动类型分類的当前和未来市场规模（十亿美元）和销售（千升）分析与预测
    • 自动变速箱
    • 手排变速箱
  • 按传输类型进行市场吸引力分析

第七章 全球市场分析（按车型）

  • 简介/主要发现
  • 2019 年至 2024 年按车型分類的历史市场规模（十亿美元）和销售量（千公升）分析
  • 2019 年至 2024 年按车型分類的当前和未来市场规模（十亿美元）和销售（千升）分析与预测
    • 搭乘用车
    • 轻型商用车（LCV）
    • 重型商用车（HCV）
    • 越野车
  • 按车型分析市场吸引力

第 8 章按通路分類的全球市场分析

  • 简介/主要发现
  • 2019 年至 2024 年按分销管道分類的历史市场规模（十亿美元）和销售量（千升）分析
  • 2019 年至 2024 年按分销管道分類的当前和未来市场规模（十亿美元）和销售（千升）分析与预测
    • OEM
    • 售后市场
  • 按分销管道进行市场吸引力分析

第九章2019-2032年全球市场分析预测（按地区）

  • 介绍
  • 2019 年至 2024 年各地区历史市场规模（十亿美元）及销售量（千公升）分析
  • 2019 年至 2024 年按地区分類的当前和未来市场规模（十亿美元）和销售（千升）分析与预测
    • 北美洲
    • 拉丁美洲
    • 欧洲
    • 东亚
    • 南亚和太平洋地区
    • 中东和非洲
  • 区域市场吸引力分析

第十章 2019-2032 年北美市场分析与展望

第 11 章。 2019-2032 年拉丁美洲市场分析与预测

第 12 章。 2019-2032 欧洲市场分析与展望

第十三章 2019-2032年东亚市场分析展望

第 14 章。 2019-2032 年南亚太市场分析与展望

第 15 章。 2019-2032 年中东和非洲市场分析与展望

各国市场分析展望，2019-2032 年

  • 美国市场分析
  • 加拿大市场分析
  • 墨西哥市场分析
  • 巴西市场分析
  • 德国市场分析
  • 义大利市场分析
  • 法国市场分析
  • 英国市场分析
  • 西班牙市场分析
  • 比荷卢经济联盟市场分析
  • 俄罗斯市场分析
  • 中国市场分析
  • 日本市场分析
  • 韩国市场分析
  • 印度市场分析
  • 东协市场分析
  • 波湾合作理事会市场分析
  • 土耳其市场分析
  • 南非市场分析

第十七章竞争格局

  • 主要参与企业—市场定位
  • 主要参与企业—市场规模
  • 竞争仪錶板
  • 竞争格局
    • Shell plc
    • Exxon Mobil Corporation
    • China National Petroleum Corporation
    • Hindustan Petroleum Corporation Limited
    • FUCHS LUBRICANTS CO.
    • BP PLC
    • TOTAL SA
    • ZF Friedrichshafen AG
    • Valvoline LLC
    • Chevron Corporation
    • Hengst SE and Co. KG
    • Ferdinand Bilstein GmbH Co. KG
    • Elofic Industries Limited
    • VIEROL AG

第 18 章使用的假设与缩写

第十九章调查方法

简介目录
Product Code: PMRREP2839

Persistence Market Research has recently released a comprehensive report on the global Automotive Gear Oil Market, providing an in-depth analysis of key market dynamics, including driving forces, emerging trends, opportunities, and challenges. This report offers a detailed understanding of the market landscape, helping stakeholders make well-informed decisions.

Key Insights:

  • Automotive Gear Oil Market Size (2025E): USD 15.8 Bn
  • Projected Market Value (2032F): USD 21.3 Bn
  • Global Market Growth Rate (CAGR 2025 to 2032): 4.4%

Automotive Gear Oil Market - Report Scope:

The automotive gear oil market comprises lubricants designed specifically for transmissions, differentials, and transfer cases in vehicles, ensuring smooth operation and protection under high pressure and temperature. Gear oil plays a critical role in reducing wear, preventing corrosion, and enhancing the performance of drivetrain components. With increasing vehicle production and the growing complexity of modern transmission systems, the demand for high-performance gear oils has risen significantly. Additionally, the expansion of electric and hybrid vehicles is reshaping lubricant requirements, pushing manufacturers toward advanced synthetic formulations and eco-friendly solutions.

Market Growth Drivers:

The growth of the global automotive gear oil market is primarily driven by the rising global vehicle parc and increased focus on vehicle maintenance to ensure long-term performance and durability. The surge in demand for commercial vehicles, coupled with the booming e-commerce and logistics sectors, has led to heightened usage of high-performance gear oils. Furthermore, ongoing advancements in gear oil formulations-such as synthetic and semi-synthetic variants-are providing enhanced thermal stability and longer drain intervals, reducing overall maintenance costs for vehicle owners. Government regulations emphasizing emission reduction and fuel efficiency are also pushing OEMs and fleet operators to adopt premium-grade lubricants, further accelerating market expansion.

Market Restraints:

Despite a promising growth trajectory, the automotive gear oil market encounters several challenges. The transition toward electric vehicles (EVs), which often require less or no traditional gear oil due to simpler drivetrain architectures, is expected to dampen demand in the long term. Additionally, fluctuations in crude oil prices impact the cost of mineral-based gear oils, leading to pricing instability. Environmental concerns surrounding the disposal of used lubricants and stringent regulatory frameworks on oil formulations also pose significant hurdles for manufacturers. Moreover, the availability of counterfeit or low-grade gear oil products in emerging markets may hinder brand credibility and affect user confidence.

Market Opportunities:

Amid these challenges, the automotive gear oil market presents numerous opportunities for growth and innovation. The increasing penetration of synthetic gear oils-known for superior lubrication, high temperature resilience, and extended service life-opens new avenues for product differentiation and premiumization. Growing vehicle ownership in emerging economies such as India, Brazil, and Southeast Asian nations offers a lucrative landscape for aftermarket sales. Additionally, the development of eco-friendly, biodegradable gear oils aligns with sustainability goals and presents a competitive edge in markets with stringent environmental policies. Strategic collaborations with automotive OEMs and investments in R&D for electric drivetrain-compatible lubricants will be key to unlocking future growth potential.

Key Questions Answered in the Report:

  • What are the primary factors driving the global automotive gear oil market's growth?
  • Which regions and market segments are experiencing the highest demand for automotive gear oils?
  • How is the shift toward electric mobility influencing gear oil formulations and applications?
  • Who are the key players in the automotive gear oil market, and what strategies are they adopting to stay competitive?
  • What are the emerging trends and future projections for the global automotive gear oil market?

Competitive Intelligence and Business Strategy:

Leading companies in the global automotive gear oil market, such as Exxon Mobil Corporation, TOTAL S.A., Shell PLC, and BP PLC, are actively investing in advanced lubricant technologies to enhance thermal stability and efficiency under extreme conditions. These players are focusing on synthetic and environmentally-friendly gear oil solutions to meet evolving customer expectations and regulatory standards. Strategic partnerships with vehicle manufacturers and expanding distribution channels through online and retail platforms are helping companies strengthen market presence. Moreover, regional players like Hindustan Petroleum Corporation Limited and Elofic Industries Limited are emphasizing cost-effective, high-performance products to tap into high-growth developing economies.

Companies Covered in This Report:

  • Exxon Mobil Corporation
  • TOTAL S.A.
  • Shell PLC
  • BP PLC
  • ZF Friedrichshafen AG
  • FUCHS Petrolub SE
  • China National Petroleum Corporation
  • Valvoline LLC
  • Chevron Corporation
  • Hindustan Petroleum Corporation Limited
  • Hengst SE and Co. KG
  • Ferdinand Bilstein GmbH Co. KG
  • Elofic Industries Limited
  • VIEROL AG

Key Segments Covered in Market Research

By Source Type:

  • Mineral Based Gear Oil
  • Synthetic Based Gear Oil

By Vehicle Type:

  • Passenger Car
  • Light Commercial Vehicle
  • Heavy Commercial Vehicle
  • Off-road vehicle

By Transmission Type:

  • Automatic Transmission
  • Manual Transmission

By Distribution Channel:

  • OEM
  • Aftermarket
  • Retail
  • Filling Stations
  • Online

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia Pacific
  • Middle East and Africa (MEA)

Table of Contents

1. Executive Summary

  • 1.1. Key Findings
  • 1.2. Executive Summary: Market Outlook
  • 1.3. Demand Side Trends
  • 1.4. Supply Side Trends
  • 1.5. PMR Analysis

2. Market Introduction

  • 2.1. Market Coverage/Taxonomy
  • 2.2. Market Definition/Scope/Limitations
  • 2.3. Key Success Factors
  • 2.4. Promotional Strategies

3. Market Background

  • 3.1. Macro-Economic Factors
    • 3.1.1. Global Economic Outlook
    • 3.1.2. Global GDP Per Capita
    • 3.1.3. Global GDP Growth
    • 3.1.4. Global Compact Passenger Vehicles On Road Comparison, 2025
    • 3.1.5. Global Mid-Sized Passenger Vehicles On Road Comparison, 2025
    • 3.1.6. Global Luxury Passenger Vehicles On Road Comparison, 2025
    • 3.1.7. Global SUV Passenger Vehicles On Road Comparison, 2025
    • 3.1.8. Global Light Commercial Vehicles On Road Comparison, 2025
    • 3.1.9. Global Heavy Commercial Vehicles On Road Comparison, 2025
    • 3.1.10. Global Passenger Cars Sales
    • 3.1.11. Global Commercial Vehicle Sales
    • 3.1.12. Global Agricultural Vehicle Sales (Tractors)
  • 3.2. Global Automotive Production Scenario
  • 3.3. Global Automotive Gear Oil Market: Value Chain
  • 3.4. Forecast Factors
  • 3.5. Covid-19 Impact Assessment
  • 3.6. Supply and Demand Analysis
  • 3.7. Porter's Five Forces Analysis
  • 3.8. Market Dynamics
    • 3.8.1. Drivers
    • 3.8.2. Restraints
    • 3.8.3. Opportunities
    • 3.8.4. Trends

4. Global Market Analysis Outlook, 2019-2032

  • 4.1. Global Automotive Gear Oil Market Volume and Y-o-Y Growth Analysis
  • 4.2. Global Automotive Gear Oil Market: Pricing Analysis, 2025
  • 4.3. Global Automotive Gear Oil Market Value and Y-o-Y Growth Analysis

5. Global Market Analysis by Source

  • 5.1. Introduction / Key Findings
  • 5.2. Historical Market Size (US$ Bn) and Volume (Kilo Liters) Analysis by Source, 2019-2024
  • 5.3. Current and Future Market Size (US$ Bn) and Volume (Kilo Liters) Analysis and Forecast by Source, 2025-2032
    • 5.3.1. Synthetic Based
    • 5.3.2. Mineral Based
  • 5.4. Market Attractiveness Analysis by Source

6. Global Market Analysis by Transmission Type

  • 6.1. Introduction / Key Findings
  • 6.2. Historical Market Size (US$ Bn) and Volume (Kilo Liters) Analysis by Transmission Type, 2019-2024
  • 6.3. Current and Future Market Size (US$ Bn) and Volume (Kilo Liters) Analysis and Forecast by Transmission Type, 2025-2032
    • 6.3.1. Automatic Transmission
    • 6.3.2. Manual Transmission
  • 6.4. Market Attractiveness Analysis by Transmission Type

7. Global Market Analysis by Vehicle Type

  • 7.1. Introduction / Key Findings
  • 7.2. Historical Market Size (US$ Bn) and Volume (Kilo Liters) Analysis by Vehicle Type, 2019-2024
  • 7.3. Current and Future Market Size (US$ Bn) and Volume (Kilo Liters) Analysis and Forecast by Vehicle Type, 2025-2032
    • 7.3.1. Passenger Cars
    • 7.3.2. Light Commercial Vehicles (LCV)
    • 7.3.3. Heavy Commercial Vehicles (HCV)
    • 7.3.4. Off Road Vehicles
  • 7.4. Market Attractiveness Analysis by Vehicle Type

8. Global Market Analysis by Distribution Channel

  • 8.1. Introduction / Key Findings
  • 8.2. Historical Market Size (US$ Bn) and Volume (Kilo Liters) Analysis by Distribution Channel, 2019-2024
  • 8.3. Current and Future Market Size (US$ Bn) and Volume (Kilo Liters) Analysis and Forecast by Distribution Channel, 2025-2032
    • 8.3.1. OEM
    • 8.3.2. Aftermarket
      • 8.3.2.1. Retail
      • 8.3.2.2. Filling Station
      • 8.3.2.3. Online
  • 8.4. Market Attractiveness Analysis by Distribution Channel

9. Global Market Analysis Outlook, 2019-2032 , by Region

  • 9.1. Introduction
  • 9.2. Historical Market Size (US$ Bn) and Volume (Kilo Liters) Analysis by Region, 2019-2024
  • 9.3. Current Market Size (US$ Bn) and Volume (Kilo Liters) Analysis and Forecast by Region, 2025-2032
    • 9.3.1. North America
    • 9.3.2. Latin America
    • 9.3.3. Europe
    • 9.3.4. East Asia
    • 9.3.5. South Asia and Pacific
    • 9.3.6. Middle East and Africa
  • 9.4. Market Attractiveness Analysis by Region

10. North America Market Analysis Outlook, 2019-2032

  • 10.1. Introduction
  • 10.2. Historical Market Size (US$ Bn) and Volume (Kilo Liters) Trend Analysis by Market Taxonomy, 2019-2024
  • 10.3. Market Size (US$ Bn) and Volume (Kilo Liters) Forecast by Market Taxonomy, 2025-2032
    • 10.3.1. By Country
      • 10.3.1.1. U.S.
      • 10.3.1.2. Canada
    • 10.3.2. By Source
    • 10.3.3. By Transmission Type
    • 10.3.4. By Vehicle Type
    • 10.3.5. By Distribution Channel
  • 10.4. Market Attractiveness Analysis
    • 10.4.1. By Country
    • 10.4.2. By Source
    • 10.4.3. By Transmission Type
    • 10.4.4. By Vehicle Type
    • 10.4.5. By Distribution Channel

11. Latin America Market Analysis Outlook, 2019-2032

  • 11.1. Introduction
  • 11.2. Historical Market Size (US$ Bn) and Volume (Kilo Liters) Trend Analysis by Market Taxonomy, 2019-2024
  • 11.3. Market Size (US$ Bn) and Volume (Kilo Liters) Forecast by Market Taxonomy, 2025-2032
    • 11.3.1. By Country
      • 11.3.1.1. Brazil
      • 11.3.1.2. Mexico
      • 11.3.1.3. Rest of Latin America
    • 11.3.2. By Source
    • 11.3.3. By Transmission Type
    • 11.3.4. By Vehicle Type
    • 11.3.5. By Distribution Channel
  • 11.4. Market Attractiveness Analysis
    • 11.4.1. By Source
    • 11.4.2. By Transmission Type
    • 11.4.3. By Vehicle Type
    • 11.4.4. By Distribution Channel

12. Europe Market Analysis Outlook, 2019-2032

  • 12.1. Introduction
  • 12.2. Historical Market Size (US$ Bn) and Volume (Kilo Liters) Trend Analysis by Market Taxonomy, 2019-2024
  • 12.3. Market Size (US$ Bn) and Volume (Kilo Liters) Forecast by Market Taxonomy, 2025-2032
    • 12.3.1. By Country
      • 12.3.1.1. Germany
      • 12.3.1.2. Italy
      • 12.3.1.3. France
      • 12.3.1.4. U.K.
      • 12.3.1.5. Spain
      • 12.3.1.6. BENELUX
      • 12.3.1.7. Russia
      • 12.3.1.8. Rest of Europe
    • 12.3.2. By Source
    • 12.3.3. By Transmission Type
    • 12.3.4. By Vehicle Type
    • 12.3.5. By Distribution Channel
  • 12.4. Market Attractiveness Analysis
    • 12.4.1. By Country
    • 12.4.2. By Source
    • 12.4.3. By Transmission Type
    • 12.4.4. By Vehicle Type
    • 12.4.5. By Distribution Channel

13. East Asia Market Analysis Outlook, 2019-2032

  • 13.1. Introduction
  • 13.2. Historical Market Size (US$ Bn) and Volume (Kilo Liters) Trend Analysis by Market Taxonomy, 2019-2024
  • 13.3. Market Size (US$ Bn) and Volume (Kilo Liters) Forecast by Market Taxonomy, 2025-2032
    • 13.3.1. By Country
      • 13.3.1.1. China
      • 13.3.1.2. Japan
      • 13.3.1.3. South Korea
    • 13.3.2. By Source
    • 13.3.3. By Transmission Type
    • 13.3.4. By Vehicle Type
    • 13.3.5. By Distribution Channel
  • 13.4. Market Attractiveness Analysis
    • 13.4.1. By Source
    • 13.4.2. By Transmission Type
    • 13.4.3. By Vehicle Type
    • 13.4.4. By Distribution Channel

14. South Asia and Pacific Market Analysis Outlook, 2019-2032

  • 14.1. Introduction
  • 14.2. Historical Market Size (US$ Bn) and Volume (Kilo Liters) Trend Analysis by Market Taxonomy, 2019-2024
  • 14.3. Market Size (US$ Bn) and Volume (Kilo Liters) Forecast by Market Taxonomy, 2025-2032
    • 14.3.1. By Country
      • 14.3.1.1. India
      • 14.3.1.2. ASEAN
      • 14.3.1.3. Rest of South Asia
    • 14.3.2. By Source
    • 14.3.3. By Transmission Type
    • 14.3.4. By Vehicle Type
    • 14.3.5. By Distribution Channel
  • 14.4. Market Attractiveness Analysis
    • 14.4.1. By Country
    • 14.4.2. By Source
    • 14.4.3. By Transmission Type
    • 14.4.4. By Vehicle Type
    • 14.4.5. By Distribution Channel

15. Middle East and Africa Market Analysis Outlook, 2019-2032

  • 15.1. Introduction
  • 15.2. Historical Market Size (US$ Bn) and Volume (Kilo Liters) Trend Analysis by Market Taxonomy, 2019-2024
  • 15.3. Market Size (US$ Bn) and Volume (Kilo Liters) Forecast by Market Taxonomy, 2025-2032
    • 15.3.1. By Country
      • 15.3.1.1. Turkey
      • 15.3.1.2. Gulf Co-operation Council Countries
      • 15.3.1.3. South Africa
      • 15.3.1.4. Northern Africa
      • 15.3.1.5. Rest of MEA
    • 15.3.2. By Source
    • 15.3.3. By Transmission Type
    • 15.3.4. By Vehicle Type
    • 15.3.5. By Distribution Channel
  • 15.4. Market Attractiveness Analysis
    • 15.4.1. By Country
    • 15.4.2. By Source
    • 15.4.3. By Transmission Type
    • 15.4.4. By Vehicle Type
    • 15.4.5. By Distribution Channel

16. Country Wise Market Analysis Outlook, 2019-2032

  • 16.1. U.S. Market Analysis
    • 16.1.1. By Source
    • 16.1.2. By Vehicle Type
    • 16.1.3. By Transmission Type
    • 16.1.4. By Distribution Channel
  • 16.2. Canada Market Analysis
  • 16.3. Mexico Market Analysis
  • 16.4. Brazil Market Analysis
  • 16.5. Germany Market Analysis
  • 16.6. Italy Market Analysis
  • 16.7. France Market Analysis
  • 16.8. U.K. Market Analysis
  • 16.9. Spain Market Analysis
  • 16.10. BENELUX Market Analysis
  • 16.11. Russia Market Analysis
  • 16.12. China Market Analysis
  • 16.13. Japan Market Analysis
  • 16.14. South Korea Market Analysis
  • 16.15. India Market Analysis
  • 16.16. ASEAN Market Analysis
  • 16.17. Gulf Co-operation Council Countries Market Analysis
  • 16.18. Turkey Market Analysis
  • 16.19. South Africa Market Analysis

17. Competition Landscape

  • 17.1. Key Players - Market Positioning
  • 17.2. Key Players - Market Footprint
  • 17.3. Competition Dashboard
  • 17.4. Competition Deep Drive
    • 17.4.1. Shell plc
      • 17.4.1.1. Overview
      • 17.4.1.2. Product Portfolio
      • 17.4.1.3. Sales Footprint
      • 17.4.1.4. Strategy Overview
        • 17.4.1.4.1. Marketing Strategy
        • 17.4.1.4.2. Product Strategy
        • 17.4.1.4.3. Channel Strategy
    • 17.4.2. Exxon Mobil Corporation
    • 17.4.3. China National Petroleum Corporation
    • 17.4.4. Hindustan Petroleum Corporation Limited
    • 17.4.5. FUCHS LUBRICANTS CO.
    • 17.4.6. BP P.L.C.
    • 17.4.7. TOTAL S.A.
    • 17.4.8. ZF Friedrichshafen AG
    • 17.4.9. Valvoline LLC
    • 17.4.10. Chevron Corporation
    • 17.4.11. Hengst SE and Co. KG
    • 17.4.12. Ferdinand Bilstein GmbH Co. KG
    • 17.4.13. Elofic Industries Limited
    • 17.4.14. VIEROL AG

18. Assumptions and Acronyms Used

19. Research Methodology