The global transmission fluid market was valued at $10.32 billion in 2021 and is expected to reach $13.96 billion by 2027.

Transmission Fluid Market to Reach $13.96 Billion by 2026. Development of Eco-friendly Transmission Fluids to Boost Market Growth

According to Arizton's latest research report, the transmission fluid market is expected to grow at a CAGR of 5.15% during 2022-2027. Governments work closely with environmental agencies and NGOs to lay down stringent emission regulations to reduce the impact of harmful gases on the environment and human health. These regulations push lubricant manufacturers to develop eco-friendly transmission fluids that comply with emission regulations.

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DEVELOPMENT OF NEW ENGINES & TRANSMISSION ASSEMBLIES
High R&D investments help the automobile industry to develop new engines and transmission assemblies that run on ethanol, CNG, biodiesel, hydrogen fuel, and hybrid technologies. The development of new engines and transmission assemblies positively affects the demand for alternate powertrains as they deliver better engine performance and are more fuel-efficient. Therefore, the global demand for new and efficient vehicles is high.
Alternate powertrain-based vehicles are environment friendly. Various laws and incentives are provided by the government to promote the use and production of alternate powertrain vehicles, and NGOs run various awareness campaigns to educate people about the long-term impact of conventional fuel vehicles on the environment and human health. Governments globally lay down strict restrictions on vehicle emissions. Therefore, the demand for alternate powertrains increased over the past few years.
Applications
• Passenger Car
• Commercial Vehicle
• Heavy Vehicles
• Others
Oil Type
• Fully Synthetic Oil
• Mineral Oil
• Semi-Synthetic Oil
Region
• North America
o US
o Canada
• Europe
o Germany
o France
o UK
o Spain
o Italy
o Russia
o Rest Of Europe
• APAC
o China
o India
o Japan
o South Korea
o Indonesia
o Rest of APAC
• Latin America
o Brazil
o Mexico
o Rest Of Latin America
• Middle East & Africa
o Iran
o Saudi Arabia
o South Africa
o UAE
o Rest of MEA

Key Vendors
• Castrol Limited
• Chevron Corporation
• ExxonMobil
• Shell PLC
• TotalEnergies
Other Prominent Vendors
• Bharat Petroleum Corporation Limited
• BP PLC
• FUCHS
• Gazpromneft - Lubricants Ltd
• GS Caltex Corporation
• Gulf Oil International limited
• Hindustan Petroleum Corporation Limited
• Idemitsu Kosan Co., Ltd.
• Indian Oil Corporation Limited
• Kuwait Dana Lubes Company
• Liqui Moly
• Motul
• Pennzoil
• Petro-Canada Lubricant Inc.
• Petroliam Nasional Berhad (PETRONAS)
• Phillips 66
• Ravensberger Schmierstoffvertrieb GmbH (Ravenol)
• Repsol
• Sinopec
• Valvoline Inc.

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This release was published on openPR.