PRESS RELEASE
Published on March 2, 2023
Global industry analysis
Transmission fluid is a specialized lubricant used in automatic and manual transmissions to reduce friction, prevent wear, and cool the transmission system. It is a critical component in the operation of a vehicle and any problem with the transmission fluid can lead to expensive repairs. The global transmission fluid market has been growing steadily in recent years, driven by increasing demand for passenger and commercial vehicles and increasing adoption of automatic transmission systems.
Transmission fluid is used in vehicles for transmission with special requirements such as gear lubrication, valve operation, torque converter and brake band friction. However, it is also used as a hydraulic fluid in power steering systems for lubrication. Transmission fluid contains a variety of chemical compounds to provide fluid specifications, most transmission fluid contains combined additives that can increase its lubricating qualities.
Click the link for a sample report: https://www.persistencemarketresearch.com/samples/18754
Transmission fluid is the synthetic fluid with high performance and high film resistance that helps reduce heat generation. Transmission fluid offers important properties that make it popular, such as excellent thermal stability, anti-wear protection for hydraulic and transmission systems, better fuel economy, compatibility with any sealing material, consistently maintaining a high level of capacity of torque for excellent power transfer and acceleration.
Market dynamics: Transmission fluid market
The transmission fluid market gains traction in the market during the forecast period due to its significant drivers such as significant innovation and use of fluid processing technologies, introduction of efficient fuel and low carbon emissions are the Driving Factors of Transmission Fluids Market. In addition, there are other factors that are also expected to drive the demand for transmission fluids, such as the growth in the fleet of automobiles for on-road and off-road use and the industrial sector in emerging and developed regions .
Increasing awareness about the benefits of industrially advanced lubricants is expected to gain traction in the global transmission fluid market industry. Manufacturers have a great opportunity to introduce innovative fluids that are being manufactured to meet consumers’ transitioning demands for high-performance, fuel-efficient vehicles.
Automotive and construction industries are expected to fuel the demand for transmission fluid between the forecast period. The trend in the transmission fluid market is the increase in demand for heavy vehicles used for agriculture and construction activities, it is also expected that the increase in population worldwide is in line with this growing expenditure in infrastructure create a new trend in the growth of the industry. According to the application, the heavy vehicle segment is expected to remain dominant with more than half of the market value and volume share in 2016.
The major manufacturers in the transmission fluid market having a wide presence globally dominating the market with their extensive distribution network along with their innovative product portfolio is a key factor for the growth of the transmission fluid market. Growing consumer preferences for vehicles with less carbon control have encouraged manufacturers to achieve minimal fuel efficiency, and to continue, manufacturers have tied up with OEMs to develop automotive-specific products.
Market segmentation: Transmission fluid market
| Basics of product types |
|
| Classification bases |
|
| Application base |
|
Regional perspectives: Transmission fluid market
The growing automotive sector in Europe is expected to grow at a healthy CAGR during the forecast period, in Europe countries such as Germany, Russia, are the growing countries and are expected to gain strength during the forecast period . After Europe, Asia Pacific and North America are expected to gain a healthy market share in the transmission fluid market.
Some of the main players in the polyurethane additives market are:
- The Lubrizol Corporation
- BASF
- Exxon Mobil Corporation
- Pennzoil
- Sinopec Limited
- Total S.A
- Evonik Industries
- Royal Dutch Shell PLC
Click the link for a customized report: https://www.persistencemarketresearch.com/request-customization/18754
The report includes depletion analysis on:
- Market segments
- Market dynamics
- Market Size
- Supply and demand
- Current trends/problems/challenges
- Competition and companies involved
- technology
- value chain
The regional analysis includes:
- North America (USA, Canada)
- Latin America (Mexico, Brazil)
- Western Europe (Germany, Italy, France, United Kingdom, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia and New Zealand)
- Japan
- Middle East and Africa (GCC countries, South Africa, North Africa)
Highlights of the report:
- Detailed overview of parent market
- Change in market dynamics in the sector
- In-depth market segmentation
- Historical, current and projected size of the market in terms of volume and value
- Trends and recent developments in the sector
- Competitive landscape
- Strategies of key players and products offered
- Potential segments and niches, geographical regions showing promising growth
- A neutral perspective on market performance
- Essential information for market players to maintain and improve their market footprint
Click the link to pre-order the report: https://www.persistencemarketresearch.com/checkout/18754
Related Reports –
About us:
Persistence Market Research’s chemicals and materials division provides differentiated and timely analysis on the chemicals and materials industry. Chemical product coverage extends from commodities, bulk, specialty and petrochemicals to advanced materials, composites and nanotechnology, in particular with special emphasis on ‘green alternatives’, recycling and renewable technology developments, the assessment of supply, demand and trade. Chemical manufacturers, research institutions, channel partners and government bodies refer to our research studies for development: ‘The way forward’.
Contact with us:
Persistence market research
Address: 305 Broadway, 7th Floor, New York,
NY 10007 United States
USA PhD – +1-646-568-7751
Toll Free US-Canada – +1 800-961-0353
sales – [email protected]
This press release has been written with the intention of providing accurate market information to enable our readers to make informed strategic investment decisions. If you notice any issues with this content, please feel free to contact us [email protected]
Gerald
Xherald is passionate about providing comprehensive coverage of global business news. Dedicated to creating each participant’s notification, it reaches its own reader. Daily, our experts deliver fresh, relevant information on what’s really happening in the markets and business. Our headlines are actually fast paced and extensive. Our distributor directory connects you with new products or services and their market situation from the most effective companies around the planet. Xherald is powered by its more than 500 contributors from around the world. Xherald provides local and global market intelligence coverage across sectors ranging from healthcare, IOT, chemicals and 17 other sectors. Our updates are fast and detailed. The news we present is actually a mix of authentic content, community contributions and ads from curated headlines. All updates provided by our company must pass a strict criteria of authenticity, relevance and meaning to our readers.
