Press release
The Automotive Industry Fuels Growth In The Transmission Fluids Market: Transformative Forces Shaping the Transmission Fluids Market Landscape in 2025
Transmission Fluids
What Will the Transmission Fluids Industry Market Size Be by 2025?
The market size for transmission fluids has seen swift expansion in the past few years. An upsurge is projected, moving from $9.35 billion in 2024 to $10.3 billion in 2025, with a compound annual growth rate (CAGR) of 10.1%. The historical growth can be attributed to factors such as the development of the automotive industry, maintenance and aftermarket requirements, and regulatory standards.
What's the Long-Term Growth Forecast for the Transmission Fluids Market Size Through 2029?
In the coming years, the transmission fluids market is predicted to experience swift expansion. It's slated to reach a value of $15.1 billion in 2029, with a compound annual growth rate (CAGR) of 10.0%. This growth through the forecast period can be credited to factors such as the rise of electric vehicles, advancements made in fluid technology, the international spread of automobile production, and the extended lifespan of vehicles. The trending developments during this period are expected to involve a move towards synthetic fluids, smart fluids and condition monitoring, adaptation for a variety of applications, and strategic collaborations and partnerships.
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What Are the Key Growth Drivers Fueling the Transmission Fluids Market Expansion?
The expansion of the automobile industry is predicted to fuel the progression of the transmission fluids market. The swift rise of the global automotive sector is likely to escalate the adoption of transmission fluids as they prevent hydraulic pump degradation and the gear from getting stuck in neutral, which can cause vehicle immobility. Furthermore, quickly adapting consumer patterns and their desire for superior vehicle efficiency and overall dependability are leading to an uptick in the usage of transmission fluids globally. As per the India Brand Equity Foundation (IBEF), the automotive industry in India is projected to hit $300 billion by 2026. Consequently, the fast-paced development of the automotive industry is anticipated to drive the demand for transmission fluids throughout the predicted period.
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What Are the Key Trends Driving Transmission Fluids Market Growth?
The emergence of advanced technologies is emerging as a major trend in the transmission fluids market. To gain an upper hand over their rivals, primary industry participants are focused on the creation of novel products. For example, in August 2024, Castrol, a firm from the UK specializing in oil and gas, introduced Castrol ON EV Transmission Fluid W2 and W5. These products are crafted for electric vehicles with wet e-motors and they provide low-viscosity solutions that give rise to decreased electrical conductivity and enhanced e-motors protection. These fluids offer better cooling and operational effectiveness and proficiently handle the high torque outputs produced by electric motors. This ensures top-tier performance and longevity across a range of vehicle applications.
How Is the Transmission Fluids Market Segmented?
The transmission fluids market covered in this report is segmented -
1) By Type: Automatic Transmission Fluid (ATF), Manual Transmission Fluid (MTF), CVT Fluid, DCT Fluid
2) By Base Oil: Mineral, Synthetic, Semi-Synthetic
3) By End User Industry: Automotive Industry, Construction, Mining, Industrial Machinery, Agriculture, Other End-User Industries
Subsegments:
1) By Automatic Transmission Fluid (ATF): Dexron Series, Mercon Series, Multi-Vehicle ATF
2) By Manual Transmission Fluid (MTF): Gear Oil, Synthetic MTF, Conventional MTF
3) By CVT Fluid: CVT Fluid For Passenger Vehicles, CVT Fluid For Commercial Vehicles
4) By DCT Fluid: DCT Fluid for Passenger Vehicles, DCT Fluid for High-Performance Vehicles
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Which Companies Are Leading the Charge in Transmission Fluids Market Innovation?
Major companies operating in the transmission fluids market include BP PLC, Shell PLC, Exxon Mobil Corporation, Chevron Corporation, The PJSC Lukoil Oil Company, Afton Chemical Corporation, Amalie Oil Company, AMSOIL Inc., Ashland Global Holdings Inc., China National Petroleum Corporation, CITGO Petroleum Corporation, ConocoPhillips Company, FUCHS PETROLUB SE, Gazprom Neft PJSC, Gulf Oil International Limited, Idemitsu Kosan Co. Ltd., Indian Oil Corporation Ltd., JXTG Nippon Oil & Energy Corporation, The Lubrizol Corporation, Morris Lubricants, Motul S. A., Neste Oyj, PetroChina Company Limited, Petronas Lubricants International Sdn Bhd, The Phillips 66 Company, SK Lubricants Co. Ltd., TotalEnergies SE, Valvoline Inc., Warren Oil Company Inc., ZF Friedrichshafen AG
Which Regions Are Leading the Global Transmission Fluids Market in Revenue?
Asia-Pacific was the largest region in the transmission fluids market in 2024 and is expected to be the fastest-growing region in the forecast period. The regions covered in the transmission fluids market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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