chemical and material

Global Transmission Fluids Market Recent Study Including Growth Factors CAGR of 4.3% by 2026

Businesses can achieve practical and enduring results which are driven by accurate and timely research. Transmission Fluids Market report evaluates the growth rate and the market value based on market dynamics and growth inducing factors. It also provides the list of major competitors along with the strategic insights and analysis of the key factors influencing the Chemical and Material industry. Global Transmission Fluids Market report provides in-depth market data and forecast by analyzing key business trends and identifying potential growth avenues across the entire value chain. This Transmission Fluids Market report has been formed with the vigilant efforts of innovative, enthusiastic, knowledgeable and experienced team of analysts, researchers, industry experts, and forecasters.

Global Transmission Fluids Market is expected to registering a substantial CAGR of 4.3% in the forecast period of 2019-2026.

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Market Definition: Global Transmission Fluids Market

Transmission fluid is one of the fluids used in vehicles for manual as well as automatic transmissions during locomotion of the engine. It is generally available in red or green color and is dyed in order to distinguish it from other fluids and motor oils, which are used in vehicles. The application of transmission fluids used in vehicles is for gear lubrication, valve operation, torque converter and for brake band friction. It possesses significant properties such as excellent thermal stability, anti-wear protection for hydraulic and transmission systems, better fuel economy, compatibility with seal materials, and high level of torque capacity for excellent power transfer and acceleration.

Market Drivers:

  • Increase in consumer preference for less carbon emission control vehicle
  • Rising awareness about the benefits of industrially advanced lubricants is another factor driving the market growt
  • Expansion in automotive and construction industries is another factor driving the market growth

Market Restraints:

  • Can cause serious injuries in the case of hydraulic line burs
  • Sometimes these fluids are less corrosive as compared to others

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Segmentation: Global Transmission Fluids Market

By Product Type

  • Automatic
  • Manual
  • Dual Clutch
  • Continuously variable

By Base Fluid

  • Mineral
  • Synthetic
  • Semi-Synthetic

By Application

  • Automotive
  • Off Road Vehicle

Key Developments in the Market:

  • In June 2019, the Royal Dutch Shell has launched a new range of fluids which is made for the battery electric vehicles. These products provide better performance and are more convenient than battery EVs
  • In 2015, the new formulation for transmission fluids has been introduced which have lower viscosities and over a wide range of operating conditions

Competitive Analysis:

Global Transmission Fluids Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Transmission Fluids market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

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