Transmission Fluid Market Outlook - 2027
Transmission fluids are the oils that lubricate transmission components of a vehicle to supply optimum performance. These fluids help in maintaining a lubrication film to keep gears and bearings from wear. Transmission fluid is generally dyed in red color just to distinguish it from other fluids and other oils used in vehicles. The transmission fluid is used in vehicles for transmission on special requirements, such as gear lubrication, valve operation, and torque converter and for brake band friction. Transmission fluid is a type of synthetic fluid with high performance as well as high film power, which helps to decrease heat generation. Transmission fluid consists base oil and some chemicals that increase lubricating qualities. It is also used as hydraulic fluid in the power assisted steering systems for lubrication. It possesses significant properties, which makes it popular like excellent thermal stability, anti-wear protection for hydraulic and transmission systems, better fuel budget, compatibility with any seal materials.
COVID-19 scenario analysis:
- The global market for transmission fluids is severely impacted by the outbreak of the COVID-19 pandemic.
- The COVID-19 pandemic led to a decline in the economic growth in almost all major countries, thus affecting consumer spending patterns.
- Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap.
- Thus, insufficiency in raw material supply is expected to hamper the production rate of transmission fluids, which negatively impact the market growth.
Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
Huge development and utilization of fluid processing technologies, introduction of eco-friendly, low carbon emanation are the driving components of the transmission liquid market. Furthermore, there are others factors, which are expected to drive growth of transmission liquid, such as rise in fleet of automotive for on-road and off-road use and industrial sector in rising and developed regions. Market saturation of passenger vehicles is considered as obstacle for the growth of this market.
The pattern in the transmission liquid market is increment in demand for heavy vehicles used for farming and building exercises, rising populace over the world in accordance with this developing spending on infrastructure is additionally expected to make new pattern in the industry development.
New product launches to flourish the market
ExxonMobil Lubricants Pvt. Ltd. has launched 'Mobil Super Moto Synthetic Technology 15W-50' engine oil which is precisely for four-stroke motorcycle engines, according to the company. The advanced engine oil provides 57% better protection against wear for prolonged engine life, claims the ExxonMobil Lubricants. The company also says that the additives that are present in the oil help in keeping the engine protected from any deposit formation in the hot spots, ensuring cleaner running engine for very longer period.
The oil is introduced to further improve the performance of the engine by offering improved low-and high-temperature viscosity performance at different temperature limits.
Surge in use in industrial applications
Transmission fluids are broadly utilized in the automotive sector to expanding demand for automatic transmission motors in a growing business sector. Vehicle up gradations and the steady requirement for new and innovative lubricants is likewise liable to stay a key driving variable.
The transmission arrangement of heavy vehicles differs from sports and traveler vehicles, in this way requiring particular lubricants for efficient transmission just as to guarantee vehicle condition and efficient driving. These lubricants are continuous in use in construction sites and thus directly boost growth of construction industry. Heavy motor-works such as tractors, sprayers, harvesters, and other such big machines need constant lubrication during field applications. These tractors function in harsh and diverse weather conditions, under heavy-load conditions and thus require high performance lubricants to achieve optimal performance.
Key benefits of the report:
- This study presents the analytical depiction of the global transmission oil industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global transmission oil market.
- The current market is quantitatively analyzed to highlight the global Transmission Oil market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global transmission oil market analysis based on competitive intensity and how the competition will take shape in coming years.
Transmission Fluid Market Report Highlights
By End- use Industry
Key Market Players
BASF, Chevron Corporation (U.S.), BP PLC (U.K.), The Lubrizol Corporation, Sinopec Limited, Pennzoil, Exxon Mobil Corporation (U.S.), Royal Dutch Shell Plc. (Netherlands), Total S.A., Royal Dutch Shell PLC, Evonik Industries