New York, NY -- (SBWIRE) -- 01/04/2018 -- Introduction: Transmission Fluid Market
Fluid is a substance which does not have a fixed shape and yields easily to external pressure. Transmission fluid is one of the fluids used in vehicles for manual as well as automatic transmissions during locomotion of the engine. Transmission fluid is usually in red or green color dyed in order to distinguish it from other fluid and motor oil used in the vehicle. The transmission fluid is used in vehicles for transmission on a special requirements, such as gear lubrication, valve operation, torque converter and for brake band friction. However, it also used as hydraulic fluid in the power assisted steering systems for lubrication. The transmission fluid contains variety of chemicals compounds for providing fluid specification, most of the transmission fluid contains combination additives which may increase its lubricating qualities. Transmission fluid is the synthetic fluid with high performance as well as high film strength which helps to reduce the heat generation. The transmission fluid offers significant properties which make it popular such as, excellent thermal stability, antiwear protection for hydraulic and transmission systems, better fuel economy, compatibility with any seal materials, constantly maintain high level of torque capacity for excellent power transfer and acceleration.
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Market Dynamics: Transmission Fluid Market
The transmission fluid market gains traction in the market over the forecast period owing to its significant drivers such as, significant innovation and use of fluid processing technologies, introduction of fuel efficient, low carbon emission are the driving factors of the transmission fluid market. Additionally, there are others factors which also expected to drive the demand of transmission fluid such as, growing automotive fleet for on-road as well as off-road use and industrial sector in emerging and developed regions. Increasing awareness about the benefits of industrially advanced lubricants is expected to gain traction in the overall industry of the transmission fluid market. Manufacturers have strong opportunity to introduce innovative fluids which are being manufactured to provide transitioning consumer demands of fuel effective & high-performance vehicles. Automotive and construction industries are expected to fuel the demand of transmission fluid in between the forecast period. The trend in the transmission fluid market is increase in demand of heavy-duty vehicles utilized for agriculture & building activities, rising population across the world in line with this growing spending on infrastructure is also expected to create new trend in the industry growth. On the basis of application, heavy-duty vehicles segment is expected to remain the dominant with more than half of the market value and volume share in 2016.
The major manufacturers in the transmission fluid market which have extensive presence globally dominating the market with their extensive distribution network along with their innovative product portfolio is a key driving factor for the growth of transmission fluid market. Growing consumer preferences towards less carbon emission control vehicles has encouraged the manufacturers to achieve the minimum fuel efficiency and to continue this manufacturers has tie ups with OEM to develop specific product for automotive.
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Regional Outlook: Transmission Fluid Market
Growing automotive sector in Europe is expected to grow with healthy CAGR over the forecast period, In Europe countries like Germany, Russia, are the growing countries and are expected to gain traction in the forecast period. After Europe, Asia Pacific and North America are expected to gain healthy market value share in transmission fluid market.
Some of the key players in the polyurethanes additives market are:
The Lubrizol Corporation
Exxon Mobil Corporation
Royal Dutch Shell PLC