Transmission Fluids Market Transmission Fluids Market is estimated to grow at a CAGR of 4.1% to 2021 View Full

Introduction The report "Transmission Fluids Market by Type (Automatic Transmission Fluid/ATF, Manual Transmission Fluid/MTF, CVT, DCT), Base Oil (Mineral, Synthetic, Semi-Synthetic), End-Use Industry (Automotive, Off-Road Vehicle) - Global Forecast to 2021", The global market for transmission fluids is estimated to be valued at USD 6.88 Billion in 2016 and is projected to grow at a CAGR of 4.1% to reach USD 8.43 Billion by The growing automotive industry in the Asia-Pacific region is expected to boost the transmission fluids market during the forecast period. View Full

Market Dynamics Drivers Growing Automotive Industry in Asia-Pacific region Technological advancements in the passenger vehicle segment Restraints Market saturation of passenger vehicles in north America Opportunities Industrial growth in Middle East & Africa View Full

Industry Insights  The transmission fluids market is classified into Automatic Transmission Fluid (ATF), Manual Transmission Fluid (MTF), and others based on type.  The market is led by the ATF segment in terms of value, mainly because of the longer operational life of the automatic transmission system, better fuel efficiency, and ease of gearless shifting that it provides.  The transmission fluids market is classified into mineral, synthetic, and semi-synthetic by base oil. Mineral base oil is the major type of transmission fluid that accounted for the maximum share of the market in 2015, in terms of value.  The off-road vehicle end-use industry is expected to grow at the highest CAGR in terms of value, during the forecast period due to increasing construction activities. Government initiatives in the Asia-Pacific region and Middle East & Africa, to boost infrastructure development is leading to the growth of the transmission fluids industry. View Full

Regional Insights o The Asia-Pacific region is projected to be the fastest growing market in terms of value, during the forecast period because of the rapidly growing automotive industry, in countries such as Japan, India, and South Korea. o Increasing infrastructural developments are primarily responsible for the high demand for transmission fluids. o New construction activities, along with the rehabilitation of older structures is leading to an increasing use of heavy construction machinery, thereby increasing the demand for transmission fluids used in this machinery. o China is the largest automobile manufacturer in the Asia-Pacific region and is among the leaders in the global automotive market. View Full

Key Players  Some of the key players in the transmission fluids market are, BP PLC (U.K.), Royal Dutch Shell Plc. (Netherlands), Exxon Mobil Corporation (U.S.), Chevron Corporation (U.S.), Lukoil (Russia), and Total S.A. (France). ExxonMobil and Shell are among the top players leading the transmission fluids market.  ExxonMobil has been mainly focusing on expansions as a part of its strategic development activity. In December 2015, the company announced the start of its onshore central processing facility at the Banyu Urip field, Indonesia resulting in an increase in overall oil production capacity by 130,000 barrels per day. View Full

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