The report segments the global automotive transmission fluid market by application (passenger car and commercial vehicle) and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global automotive transmission fluid market, according to Technavio automotive researchers:
- Growing demand for SUVs and crossovers: a major market driver
- Growing use of AMT system in commercial vehicles: emerging market trend
- The Americas dominated the global automotive transmission fluid market with 40% share in 2017
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Growing demand for SUVs and crossovers: a major market driver
Growing demand for SUVs and crossovers is one of the major factors driving the global automotive transmission fluid market. The global automotive passenger car market has been dominated by daily commuting vehicles that include small hatchbacks and entry-level sedans. In emerging countries, such as China and India, most of the market share accounts for such vehicles. In developed countries, such as the US or Canada, the larger SUVs and crossovers dominate the regional automotive markets. Even in Europe, there has been growing demand for SUVs and crossovers.
The characteristics associated with an SUV such as high driving position, comfortable ride due to smooth suspension, and off-road capability have been the major drivers resulting in high volume sales. The bulky body styling along with upcoming advanced driving features is also increasing the preference for SUVs. SUVs generally have a larger transmission oil capacity than hatchbacks and sedans. Thus, increase in the sales of SUVs will drive the demand for automotive transmission fluid.
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Growing use of AMT system in commercial vehicles: emerging market trend
Automated manual transmission (AMT) systems are increasingly penetrating M&HCVs weighing between 9 to 16 metric tons due to their comfort of usage and improvements in fuel efficiency. AMT system is a hybrid system between manual and fully automatic transmission. It is like a manual transmission without the clutch pedal but equipped with paddles or shifters. It allows the driver to make quick and undetectable gear shifts.
Moreover, modern automatic transmission systems give fuel efficiency that matches with the fuel efficiency received from experienced drivers, as AMT eliminates the driver behavioral impact on the vehicle. AMT increases the fuel efficiency by 5%-8% as compared to a manual transmission.
According to a senior analyst at Technavio for automotive components research, “OEMs are increasingly focusing on enhancing the fuel efficiency, which is also leading to the demand for AMT in the commercial vehicle segment. As a result, transmission fluid manufacturers are increasingly launching transmission fluids that are compatible with AMT system.”
Global market opportunities
In terms of regional dominance, APAC led the global automotive transmission fluid market, followed by the Americas and EMEA in 2017. APAC is also the fastest growing market with an anticipated growth of close to 3% by 2022. This can be attributed to the rapid growth of the automotive sector in this region.
There different types of transmission fluids such as mineral, synthetic, and semi-synthetic. Currently, the synthetic base transmission fluid is gaining popularity in Europe followed by the Americas and APAC.
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