According to IMARC Group’s latest report, titled “Transmission Fluids Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global transmission fluids market reached a value of US$ 7.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 9.6 Billion by 2027, exhibiting a CAGR of 4% during 2022-2027. Transmission fluids refer to lubricants that are generally extracted from crude oils, which are utilized for lubricating vehicle’s components for delivering optimum performance. They are generally resistant to extreme pressure conditions and act as a hydraulic fluid to produce fictional properties that safeguard the automobile and its metal surfaces and gaskets from heat while facilitating smooth and consistent shifts. In comparison to traditional lubricants, these fluids exhibit superior viscosity index and oxidation and corrosion-resistant properties. The demand for transmission fluid is increasing across the globe due to the easy product availability via online and offline organized retail channels.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Market Trends and Drivers:
The global transmission fluids market is primarily driven by the rising demand across the automotive industry. This is supported by the changing consumer preferences and the increasing demand for improved vehicle performance and reliability. Along with this, the growing manufacturing and selling of automobiles is significantly supporting the product demand. Moreover, the widespread adoption of advanced machinery across the industrial sector on account of rapid industrialization is providing a boost to the market growth. In line with this, the rising infrastructural development projects, including urban rail, waterways and highways, across the developing economies are creating a positive market outlook. Besides this, an enhanced focus on sustainable development among the masses and the implementation of stringent rules by the governments of numerous countries have led to the launch of bio-based transmission fluids, which is acting as a major growth-inducing factor. Other factors, including the escalating adoption of off-road vehicles and extensive research and development (R&D) activities conducted by key players, are also favorably impacting the market.
Transmission Fluids Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the ethanol bus market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Amsoil Inc.
- BASF SE
- BP P.L.C.
- Chevron Corporation
- Exxon Mobil Corporation
- Fuchs Petrolub SE
- Lubrizol Corporation
- PetroChina Company Limited (China National Petroleum Corporation)
- Petroliam Nasional Berhad
- Royal Dutch Shell Plc
- TotalEnergies SE
Key Market Segmentation:
The report has segmented the global transmission fluids market on the basis of type, base oil, application and region.
Breakup by Type:
- Automatic Transmission Fluid
- Manual Transmission Fluid
Breakup by Base Oil:
- Mineral Oil
- Synthetic Oil
- Semi-synthetic Oil
Breakup by Application:
- Passenger and Commercial Vehicles
- Off-Road Vehicles
Breakup by Region:
- North America
- Latin America
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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