Heavy-duty vehicles are expected to remain the dominant application with over 51% of the volume share in
2016. Heavy-duty vehicles such as tractors also require high-performance lubricants that deliver desired
output for long-term agricultural activities. These require specialized manual transmission fluids (MTF), which
are directly sourced to the gearbox and axles of heavy-duty vehicles.
Further key findings from the report suggest:
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The global transmission fluids demand is anticipated to grow from 2.56 million tons in 2016 at 2.3%
CAGR from 2017 to 2025
Passenger vehicles are witnessing rapid growth in emerging economies on account of rising consumer
disposable income and shift in perception from viewing cars as necessities rather than luxuries
ATF emerged as the leading product type owing to the increasing demand for automatic vehicles.
Heavy-duty and agriculture machinery & equipment are also utilizing vast amounts of ATF in order to
prolong vehicle lifespans.
MTF is utilized only in specific manual vehicles, and innovation in this segment has been a critical factor
owing to numerous complexities associated with these fluids. A major concern is fuel efficiency
enhancement and suppressing transmission noise to enable a smooth transmission.
Growing consumer awareness towards lower vehicular emissions have encouraged OEMs to
collaborate with lubricant manufacturers in order to achieve the optimum fuel efficiency levels. BASF is
one such company that has tie-ups with numerous OEMs and suppliers to develop specific products for
each automobile type.
Large companies such as BASF SE, Chevron Corporation, Exxon Mobil Corporation and Royal Dutch
Shell with extensive global presence dominate the industry. Widespread distribution network along
with innovative product portfolio is a major factor driving their success. These companies are also
recognized for their extensive R&D operations which lead them to cater all kinds of application sectors
globally.
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Table Of Content
Chapter 1 Methodology and Scope
1.1 Research methodology
1.2 Research scope and assumptions
1.3 List of data sources
1.4 List of abbreviations
Chapter 2 Executive Summary
2.1 Market Summary
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