Transmission Fluids Market by 2022 Global Research, Analysis and Forecast
The Global Transmission Fluids Market accounted for USD 6.50 billion in 2016 and is projected to grow at a CAGR of 4.3% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Market Definition:
Transmission fluid is used in vehicles with self-shifting or automatic transmissions. It is typically colored red or green to distinguish it from motor oil and other fluids in the vehicle. The latest trend in this market is growing automotive industry in Asia-Pacific and technological advancements in this sector.
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Major Market Drivers and Restraint:
- Growing automotive industry in Asia-Pacific
- Technological advancements in the passenger vehicles sector
- Market saturation of passenger vehicles in North America
Major Market Competitors:
Some of the major players in transmission fluids market include Afton Chemical Corporation, Amsoil Inc., BASF SE, BP PLC., Chevron Corporation, Evonik Industries AG, Exxon Mobil Corporation, Fuchs Petrolub SE, Gulf Oil Corporation, Idemitsu Kosan Co. Ltd., Lukoil, Millers Oil, Pennzoil, Petrochina Company Limited, Petroliam Nasional Berhad, Royal Dutch Shell PLC., Sinopec Limited, The Lubrizol Corporation, Total S.A., Valvoline (U.S.) and many more.
Market Segmentation:
On The Basis Of Type: - automatic transmission fluid, manual transmission fluid and others.
On The Basis Of Base Oil: - mineral oil, synthetic oil, and semi-synthetic oil.
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On The Basis Of End-User: - automotive and off-road vehicle. The automotive is sub segmented into Passenger Vehicle, Commercial Vehicle. The off-road vehicle is sub segmented into construction & mining and agriculture.
On The Basis Of Geography, the transmission fluids market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, Asia-Pacific is expected to dominate the market.
Competitive Landscape:
The global transmission fluids market is highly fragmented with the presence of a large number of players across different regions. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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