What is Transmission Oils Market Scope?
Transmission oil is used to increase the efficiency of transmission for optimum performance. Currently, transmission oil is mostly used in heavy-duty vehicles and a passenger vehicle. It also increases the life of the engine. Additionally, increasing demand from Asian countries such as India and China and increasing popularity for sports bikes and sports cars across the globe have been supplementing the overall growth of the market. However, the high initial investment for producing transmission oil and high equipment and maintenance cost increases the overall cost of the product are considered as major limiting factors in the operating market. Moreover, increasing research and development activities by established key players to improve the efficiency of transmission oil can overcome the challenges in the coming years.
The Transmission Oils market study is being classified by Type (Mineral Oil, Synthetic Oil and Semi-Synthetic Oil), by Application (On Road Vehicle (Passenger Vehicle, Commercial Vehicle) and Off-Road Vehicle (Construction & Mining, Agriculture)) and major geographies with country level break-up.
The Manufacturers having a strong hold in the market are BP PLC, Royal Dutch Shell Plc., Exxon Mobil Corporation, Chevron Corporation, Lukoil, Total S.A.. Analysts at AMA predicts that Manufacturers from United States will contribute to the maximum growth of Global Transmission Oils market throughout the predicted period.
BP PLC (United Kingdom), Royal Dutch Shell Plc. (Netherlands), Exxon Mobil Corporation (United States), Chevron Corporation (United States), Lukoil (Russia), Total S.A. (France), Afton Chemical Corporation (United States), Amsoil Inc. (United States), Gulf Oil Corporation (India) and Idemitsu Kosan Co. Ltd. (Japan) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Millers Oil (United Kingdom), Pennzoil (United States) and PetroChina Company Limited (China).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Transmission Oils market by Type, Application and Region.
On the basis of geography, the market of Transmission Oils has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
On September 21, 2016, Tata Motors has announced its new agreement with Castro. The main aim of the agreement to strengthen the partnership and to supply a range of lubricants including engine oils, gear oils, transmission fluids, and ancillary products.
“The Bureau of Land Management (BLM) has jurisdiction over almost all leasing, exploration, development, and production of oil and gas on federal and Native American lands. BLM rules and standards for drilling and production19 require all operations on federal land to comply with state and local regulations and protect life, property, and environmental quality. As of 2018, some federal drilling and production regulations enacted, revised, or proposed since 2008 are being re-evaluated or rescinded by the current Administration.” and “The National Park Service regulates the small amount of oil and gas activity in National Parks (roughly 550 active wells in 201521), where the federal government owns the land surface but not the underlying oil, natural gas, or mineral resources.”
Influencing Market Trend
- Increasing Technological Advancement in Passenger Vehicles
Market Drivers
- Growing Use Transmission Oil in Heavy Duty Vehicle
- Increasing Demand from Asian Countries such as India and China
- Increasing Popularity for Sports Bikes and Sports Cars across the Globe
Opportunities
- Increasing Funding from Many Regional Governments for Developing Transportation Infrastructure
- Increasing Research and Development Activities by Established Key players to Improve Efficiency of Transmission Oil
Restraints
- High Initial Investment for Producing Transmission Oil
- Growing Market of Electric Vehicle across the Globe
Challenges
- High Equipment and Maintenance Cost Increases Overall Cost of the Product
- High Pricing Competitive Environment in the Operating Market
Key Target Audience
Transmission Oil Producers, Raw Material Suppliers, Distributors and Suppliers, Potential Investors, Government Associations and Agencies, Private Research Organization and Others
Customization available in this Study:
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also include significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets , To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.