Transmission Fluids Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Transmission Fluids Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Report Format: PDF+Excel | Report ID: SR112023A3500
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Market Overview 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. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Transmission fluid refers to a lubricant to facilitate speed and torque conversions from the engine to the wheels for optimum performance. The fluid lubricates the bearings and metallic components in the gearbox of the automobile and prevents them from wear and tear. Some of the commonly used transmission fluids include automatic, manual, specialty and synthetic transmission fluids. In comparison to the traditionally used lubricants, transmission fluids offer superior oxidation, thermal stability, minimal deposit formation, high viscosity index, resistance against rust and corrosion and compatibility with elastomers. As a result, they find extensive applications in passenger cars, construction vehicles and agricultural machinery to deliver optimum on-road performance and provide wear protection to transmission components.

 

 
 

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The growing automotive industry across the globe represents one of the key factors creating a positive outlook on the market. Furthermore, shifting consumer preferences, along with the increasing demand for improved vehicle performance and reliability, is also driving the market growth. In line with this, transmission fluids are also used in off-road vehicles for improved valve operation, brake band friction and torque conversion. Additionally, various product innovations, such as the development of environment-friendly transmission fluids fortified with anti-wear additives and stable viscosity enhancers, are acting as other growth-inducing factors. These additives prevent oil film breakdown, provide a seamless gear shift mechanism and optimize the fuel economy of the vehicle. Other factors, including the rising expenditure capacities of the consumers, along with the utilization of transmission fluids as coolants in automobiles with automatic transmission, are anticipated to drive the market further.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global transmission fluids market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, base oil and application.

Breakup by Type:

 

 
 

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  • Automatic Transmission Fluid
  • Manual Transmission Fluid
  • Others
     

Breakup by Base Oil:

  • Mineral Oil
  • Synthetic Oil
  • Semi-synthetic Oil
     

Breakup by Application:

  • Passenger and Commercial Vehicles
  • Off-Road Vehicles
     

Breakup by Region:

 

 
 

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  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Amsoil Inc., BASF SE, BP P.L.C., Chevron Corporation, Exxon Mobil Corporation, Fuchs Petrolub SE, Lubrizol Corporation, LukOil, PetroChina Company Limited (China National Petroleum Corporation), Petroliam Nasional Berhad, Royal Dutch Shell Plc and Total SE.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Type, Base Oil, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Amsoil Inc., BASF SE, BP P.L.C., Chevron Corporation, Exxon Mobil Corporation, Fuchs Petrolub SE, Lubrizol Corporation, LukOil, PetroChina Company Limited (China National Petroleum Corporation), Petroliam Nasional Berhad, Royal Dutch Shell Plc and Total SE
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
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Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Transmission Fluids Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027
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