Automotive Transmission Fluid Market Growth Factors, Top Players and Research Report
29 May 2019, Global automotive
transmission fluid market is expected to witness rapid growth in the
years to come owing to the developing automotive sector in emerging regions;
which has resulted in high use of lubricants. Transmission fluid is essentially
used to lubricate a car’s components to offer optimum performance. It cleans
& guard wear and tear of metal surfaces, improves the cooling, and
decreases operation of high temperatures and enhances temperature range and
rotational speed. Owing to these benefits and attractions of newer technologies
in the automotive segment, automotive transmission fluid market is expected to
grow at a CAGR of 4.30%.
The factors that drive this market
include rising attraction and adoption of transmission at the global scale;
which has resulted in better consumer experience, growing use of automotive
transmission fluid, environment-friendly ATF, and rise in number of zero-carbon
emission vehicles. However, low awareness among the emerging economies is
expected to hamper the market growth.
Rising attraction toward the
advantages offered by technologically improved products is expected to bring
opportunities to the automotive transmission fluid market. Moreover, rise in
demand for heavy-duty vehicles that are used for building and agriculture
activities are the trends observed in automotive transmission fluid market.
Get Sample Copy of this Report @
https://www.millioninsights.com/industry-reports/automotive-transmission-fluid-market/request-sample
The market is categorized on the basis of product types,
classification, application, and geography. On the basis of product types,
market is divided into manual transmission fluid, continuously variable
transmission fluid, automatic transmission fluid, dual clutch transmission
fluid, and others. The market is expected to grow at a faster rate since they
offer better comfort and are increasingly adopted by manufacturers.
Based on classification, market is divided into mineral
oil, synthetic oil and others. Synthetic oil segment is gaining attraction by
manufacturers and are being highly adopted. Based on application, market is
bifurcated into automotive (commercial and passenger vehicle) and off-road
vehicles (construction, mining, agriculture). Automotive segment leads
automotive transmission fluid market due to increase in demand for passenger
vehicles from emerging as well as developed economies.
Geographically, market is segmented as North America,
Latin America, Europe, Asia Pacific and Middle East & Africa. Asia Pacific
is anticipated to dominate the market owing to increase in demand for the
automotive and developing automotive sector. The major players in automotive
transmission fluid market comprise BP, Shell, Chevron, Exxon Mobil and
Valvoline.
Browse Related Category Market
Reports @
Comments
Post a Comment