The global Transmission Fluids Market was valued at USD 7.5 Bn in 2021 and is anticipated to grow at a CAGR of 3.9% and is expected to reach USD 10.58 Bn by 2030.
The surging consumer awareness for implementing high-level innovations, especially in off-road vehicles facilitates the need for quality transmission fluids. Thus, the availability of modern ATF such as corrosion inhibitors, anti-wear additives, anti-foam additives, viscosity index improvers, petroleum dye, and others bolster the market growth during the forecast period.
Transmission fluids, typically referred to as automotive transmission fluid (ATF), ensure uninterrupted operation, and performance along with the protection of automatic transmission. Multiple features of transmission fluids such as gear durability, anti-wear, thermal stability, and heat resistance aid the proper maintenance of the engine and transmission of the vehicles. Additionally, the transmission fluids play a crucial role in the maintenance of the internal components of the car by providing hydraulic pressure and friction as per the car’s requirement.
Transmission Fluids Market Research Report” was just released by Market Research Community. It is divided into several categories, including By Type (Automatic Transmission Fluid, Manual Transmission Fluid, Dual Clutch Transmission Fluids, Others), Application (Automotive and Off Road Vehicle), Base Oil (Mineral Oil, Synthetic Oil and Semi-Synthetic Oil), and companies (PetroChina Company Limited (China National Petroleum Corporation), Petroliam Nasional Berhad, Royal Dutch Shell Plc, Total SE, Amsoil Inc., BASF SE, BP P.L.C., Chevron Corporation, Exxon Mobil Corporation, Fuchs Petrolub SE, Lubrizol Corporation nad LukOil.), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 3.9%, over the forecast period of 2022–2030
|Report Attributes||Report Details|
|Market Size in 2030 (USD Billion)||10.58 Billion|
|By Type||Automatic Transmission Fluid, Manual Transmission Fluid, Dual Clutch Transmission Fluids, Others|
|By Application||Automotive and Off Road Vehicle|
|Base Oil||Mineral Oil, Synthetic Oil and Semi-Synthetic Oil|
|By Geography||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Key Players||PetroChina Company Limited (China National Petroleum Corporation), Petroliam Nasional Berhad, Royal Dutch Shell Plc, Total SE, Amsoil Inc., BASF SE, BP P.L.C., Chevron Corporation, Exxon Mobil Corporation, Fuchs Petrolub SE, Lubrizol Corporation nad LukOil.|
The COVID-19 pandemic has had a substantial negative influence on the Transmission Fluids market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
PetroChina Company Limited (China National Petroleum Corporation), Petroliam Nasional Berhad, Royal Dutch Shell Plc, Total SE, Amsoil Inc., BASF SE, BP P.L.C., Chevron Corporation, Exxon Mobil Corporation, Fuchs Petrolub SE, Lubrizol Corporation nad LukOil.
Market Segment Analysis:
- Dual Clutch Transmission Fluids
- Continuously Variable Transmission Fluids
- Automatic Transmission Fluids
- Manual Transmission Fluids
- Off-Road Vehicles
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2021, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Transmission Fluids industries in the region.
Key Transmission Fluids Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Transmission Fluids Market segments.
– Largest Market Share Held by Industry to Industry for Transmission Fluids
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Transmission Fluids Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
Table of Content
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