Dublin, Aug. 09, 2022 (GLOBE NEWSWIRE) -- The "Transmission Fluid Market - Global Outlook and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global transmission fluid market is expected to grow at a CAGR of 5.15% during 2022-2027.
Transmission fluid is a product that provides lubrication for the transmission assembly which consists of transmission, gearbox, and axle. It helps to reduce the friction and heat generated during the operation. As the gearbox runs at high speed it is necessary to provide good quality lubricant to avoid malfunction of the vehicle. Transmission fluid is essential to improve the vehicle's performance as the transmission transfers the power generated in the engine to the vehicle's wheels.
Therefore, transmission fluid is the critical component offering smooth functioning of the transmission assembly. When transmission assembly is in operation, transmission fluid acts as a lubricant and protects the many moving parts such as clutch, gearbox, propeller shaft, differential and axle, and live axle.
The transmission fluid market changes as the customers demand better-performing lubricants to enhance the fuel economy and deliver better performance. Transmission fluids are manufactured from mineral oils derived from crude oil in the past.
However, as the automotive industry developed, the mineral oil-based transmission fluid could not perform as per the new engine and transmission requirements. Therefore, demand for synthetic oil-based transmission fluid and additives is increasing rapidly. Advancements in technology helped the transmission fluid industry cater to diverse needs such as increasing the shelf life of the transmission, reducing carbon footprint, improving fuel economy, supplying lubricants with low viscosity, and meeting the increasing vehicle emission standards. The growing use of passenger cars in emerging economies has fueled the transmission fluid market. The global transmission fluid market shipment is expected to grow at a CAGR of 4.16% during the forecast period.
Market Dynamics
Market Growth Enablers
- Development of Eco-Friendly Transmission Fluids
- Increased EV Demand
- Urbanization & High Middle-Income Population
Market Restraints
- Mature Passenger Vehicle Market in Developed Economies
- Fluctuations in Crude Oil Prices
Market Opportunities & Trends
- High Demand for Passenger & Commercial Vehicles in Emerging Economies
- Development of New Engines & Transmission Assemblies
TRANSMISSION FLUID MARKET SEGMENT ANALYSIS
Segmentation by Applications
- Passenger Car
- Commercial Vehicle
- Heavy Vehicles
- Others
Segmentation by Oil Type
- Fully Synthetic Oil
- Mineral Oil
- Semi-Synthetic Oil
Segmentation by Region
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
5 Report Assumptions & Caveats
6 Executive Insights
7 Market at a Glance
9 Market Opportunities & Trends
10 Market Growth Enablers
11 Market Restraints
12 Market Landscape
13 Application
14 Oil Type
15 Geography
16 North America
17 Latin America
18 Middle East & Africa
19 Europe
20 Apac
21 Competitive Landscape
22 Key Company Profiles
23 Other Prominent Vendors
24 Report Summary
25 Quantitative Summary
26 Geography
27 Appendix
Companies Mentioned
- Castrol Limited
- Chevron Corporation
- ExxonMobil
- Shell PLC
- TotalEnergies
- Bharat Petroleum Corporation Limited
- BP PLC
- FUCHS
- Gazpromneft - Lubricants Ltd
- GS Caltex Corporation
- Gulf Oil International limited
- Hindustan Petroleum Corporation Limited
- Idemitsu Kosan Co., Ltd.
- Indian Oil Corporation Limited
- Kuwait Dana Lubes Company
- Liqui Moly
- Motul
- Pennzoil
- Petro-Canada Lubricant Inc.
- Petroliam Nasional Berhad (PETRONAS)
- Phillips 66
- Ravensberger Schmierstoffvertrieb GmbH (Ravenol)
- Repsol
- Sinopec
- Valvoline Inc.
For more information about this report visit https://www.researchandmarkets.com/r/gkkae
