Growing Automotive Industry Dominating Transmission Fluid Market
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 2021. The growing automotive industry in the Asia-Pacific region is expected to boost the transmission fluids market during the forecast period.
Browse 120 tables and 42 figures spread through 149 Pages and in-depth TOC on "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".
To Purchase Report@ https://www.marketsandmarkets.com/Purchase/purchase_reportNew.asp?id=120501631
ATF to be the largest transmission fluid type during the forecast period
ATF constitutes the major share of the overall transmission fluids market in terms of value. These are specialized fluids having lower temperature fluidity and higher frictional properties than engine oils or gear oils. ATF performs various functions in the transmission system, including lubrication, clutch application, cooling, and providing a link between the transmission and engine through a hydraulic coupling or torque converter. Due to the versatile nature, ATF is largely being used in the automobile industry and is expected to constitute a major share of the transmission fluids market from 2016 to 2021.
Semi-synthetic base oil to register the highest CAGR in the transmission fluids market from 2016 to 2021
The transmission fluids market is segmented into different base oil categories, namely, mineral, synthetic, and semi-synthetic. The semi-synthetic base oil segment is expected to grow at the highest CAGR in the transmission fluids market from 2016 to 2021. The demand for semi-synthetic base oil is gaining momentum due to its added advantages over conventional mineral based transmission fluids. They are cheaper than purely synthetic base transmission fluids, and offer better drain intervals than mineral oil base transmission fluids.
Off-road vehicle to be the fastest-growing end-use industry for transmission fluids during the forecast period
Automotive and off-road vehicle are the two broadly classified end-use industries of the transmission fluids market. The off-road vehicle industry shows tremendous growth potential in the Middle East & Africa and the Asia-Pacific region. Thus, the transmission fluids market is expected to grow at the fastest rate for the off-road vehicle industry.
Asia-Pacific to be the fastest-growing market for transmission fluids during the forecast period
The growth of the transmission fluids market in the Asia-Pacific region is attributed to the rising population due to which, there is an increasing demand for additional residential construction. This growth pattern signifies an increase in construction activities, thereby leading to an increase in the consumption of transmission fluids for heavy vehicles used in the construction industry. Also, rising disposable incomes and improved standards of living are leading to consumers opting for new vehicles for their comfort, thus, leading to a rise in vehicle sales.
Currently, the global transmission fluids market is led by various market players such as Total S.A. (France), BP PLC (U.K.), Royal Dutch Shell Plc. (Netherlands), Chevron Corporation (U.S.), Lukoil (Russia), and Exxon Mobil Corporation (U.S.).
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
No comments:
Post a Comment