The Business Research Company’s report on the Transmission Fluids Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the primary drivers fueling the growth of the transmission fluids market in recent years?
The growing automotive industry is expected to propel the growth of the transmission fluids market. The rapid growth in the automotive industry across the globe is expected to boost the utilization of transmission, as they help in avoiding hydraulic pump wear out and the gear stuck in neutral that leads to the immobility of the vehicles. Additionally, rapidly changing consumer behavior and their need for better vehicle performance and overall reliability are contributing to increased utilization of transmission fluids across the globe. According to the India Brand Equity Foundation (IBEF), the Indian automotive industry is expected to reach $300 billion by 2026.Therefore, the rapid growth automotive industry is expected to demand for transmission fluids during the forecast period.
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What is the projected market size of the transmission fluids industry, and how is it expected to grow?
The transmission fluids market size has grown rapidly in recent years. It will grow from $9.35 billion in 2024 to $10.3 billion in 2025 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to automotive industry growth, maintenance and aftermarket demand, regulatory standards.
The transmission fluids market size is expected to see rapid growth in the next few years. It will grow to $15.1 billion in 2029 at a compound annual growth rate (CAGR) of 10.0%. The growth in the forecast period can be attributed to electric vehicle expansion, advancements in fluid technology, globalization of automotive production, increasing vehicle lifespan. Major trends in the forecast period include shift towards synthetic fluids, smart fluids and condition monitoring, customization for diverse applications, collaborations and partnerships.
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Who are the key players driving competition in the transmission fluids market?
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
What key trends are expected to drive the transformer winding machines market during the forecast period?
Technological developments are a key trend gaining popularity in the transmission fluids market. Major players in the market are focusing on bringing innovative products to obtain an edge in the market against their competitors. For instance, in August 2024, Castrol, a UK-based oil and gas company, launched Castrol ON EV Transmission Fluid W2 and W5. These are designed for electric vehicles with wet e-motors, featuring low-viscosity formulations that deliver low electrical conductivity and enhanced protection for e-motors. These fluids improve cooling and operational efficiency while effectively managing the high torque outputs generated by electric motors, ensuring optimal performance and durability in various vehicle applications.
Which key geographies are driving the growth of the transmission fluids market?
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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Transmission Fluids Market Report 2025, Industry Size and Outlook
What are the key segments driving growth in the transmission fluids market?
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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Transmission Fluids Market Report 2025, Industry Size and Outlook
How is the transmission fluids market defined?
Transmission fluids are oils that are used in automatic transmissions to lubricate the components of a car’s transmission for optimum performance.
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