Global Transmission Fluids Market 2024, Forecast To 2033
26 Feb, 2024
The transmission fluids market has experienced rapid growth, surging from $8.56 billion in 2023 to $9.42 billion in 2024, achieving a 10.1% CAGR. Historical growth is linked to automotive industry expansion, maintenance and aftermarket demand, and regulatory standards. The forecasted expansion envisions a market size of $13.84 billion in 2028, with a 10.1% CAGR. This growth is attributed to electric vehicle expansion, advancements in fluid technology, globalization of automotive production, and increasing vehicle lifespan. Key trends include a shift towards synthetic fluids, smart fluids and condition monitoring, customization for diverse applications, and collaborations and partnerships.
Global Transmission Fluids Market Key Driver
The growing automotive industry fuels the transmission fluids market's growth. The global automotive industry is poised to reach $300 billion in India by 2026, contributing to increased transmission fluid utilization. Consumer demand for better vehicle performance and reliability further supports the growth of the transmission fluids market.
Get A Free Sample Of The Global Transmission Fluids Market ReportGlobal Transmission Fluids Market Segments
The transmission fluids market covered in this report is segmented –
1) By Type: Automatic Transmission Fluid (ATF), Manual Transmission Fluid (MTF), CVT Fluid, DCT Fluid
2) By Base Oil: Mineral, Synthetic, Semi-Synthetic
3) By End User Industry: Automotive Industry, Construction, Mining, Industrial Machinery, Agriculture, Other End-User Industries
By Geography: The regions covered in the template market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
Asia-Pacificwas the largest region in the transmission fluids market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the transmission fluids market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Transmission Fluids Industry Players
BP PLC; Shell PLC; Exxon Mobil Corporation; Chevron Corporation; The PJSC Lukoil Oil Company; Afton Chemical Corporation; Amalie Oil Company; AMSOIL Inc.; Ashland Global Holdings Inc.; China National Petroleum Corporation; CITGO Petroleum Corporation; ConocoPhillips Company; FUCHS PETROLUB SE; Gazprom Neft PJSC; Gulf Oil International Limited; Idemitsu Kosan Co. Ltd.; Indian Oil Corporation Ltd.; JXTG Nippon Oil & Energy Corporation; The Lubrizol Corporation; Morris Lubricants; Motul S. A.; Neste Oyj; PetroChina Company Limited; Petronas Lubricants International Sdn Bhd; The Phillips 66 Company; SK Lubricants Co. Ltd.; TotalEnergies SE; Valvoline Inc.; Warren Oil Company Inc.; ZF Friedrichshafen AG
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Transmission Fluids Market Overview
Transmission fluids are oils that are used in automatic transmissions to lubricate the components of a car’s transmission for optimum performance.
Transmission Fluids Global Market Report 2023 provides data on the global transmission fluids market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The transmission fluids market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.