The study involved four major activities in estimating the market size for transmission fluids. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Post that, the market breakdown and data triangulation procedures were used to estimate the market size of the segments and subsegments.
Secondary Research
Secondary sources used in this study included annual reports, press releases, and investor presentations of companies; white papers; certified publications; articles from recognized authors; and gold standard & silver standard websites such as Factiva, ICIS, Bloomberg, and others. The findings of this study were verified through primary research by conducting extensive interviews with key officials such as CEOs, VPs, directors, and other executives. The breakdown of profiles of the primary interviewees is illustrated in the figure below:
Primary Research
The Transmission fluids market comprises several stakeholders, such as raw material suppliers, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of this market is characterized by the automotive, medical, construction and others. The supply side is characterized by advancements in technology and diverse application industries. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative informations.
Breakdown of Primary Participants
Note: Tier 1, Tier 2, and Tier 3 companies are classified based on their market revenue in 2023 available in the public domain, product portfolios, and geographical presence.
Other designations include consultants and sales, marketing, and procurement managers.
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COMPANY NAME |
DESIGNATION |
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Exxon Mobil Corporation |
Senior Manager |
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Shell plc |
Innovation Manager |
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BP P.L.C. |
Vice-President |
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Chevron Corporation |
Production Supervisor |
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TotalEnergies SE |
Sales Manager |
Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the Transmission fluids market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
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The key players in the industry have been identified through extensive secondary research.
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The supply chain of the industry has been determined through primary and secondary research.
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All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
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All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
Transmission fluids Market: Bottom-Up and Top-Down Approach
Data Triangulation
After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the transmission fluids industry.
Market Definition
According to the European Automobile Manufacturers' Association, transmission fluids are the fluids that lubricate the transmission components of the vehicle to deliver optimum performance. They help in protecting the gears and bearings from wear and tear. Even in extreme pressure conditions, it acts as a hydraulic fluid to enable shifting, provides frictional properties to safeguard smooth, consistent shifts, and manages heat. Transmission fluids are specially formulated for use in variable temperature conditions and heavy load carrying machines used in construction, agriculture, and mining. These fluids play an essential role in helping the transmission system to operate efficiently throughout its life cycle and thereby improving the gear life, synchronizer life, and shift quality.
Stakeholders
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Transmission fluids Manufacturers
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Transmission fluids Traders, Distributors, and Suppliers
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End-use Market Participants of Different Segments of Transmission fluids
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Government and Research Organizations
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Associations and Industrial Bodies
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Research and Consulting Firms
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R&D Institutions
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Environment Support Agencies
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Investment Banks and Private Equity Firms
Report Objectives
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To define, describe, and forecast the transmission fluids market in terms of value and volume
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To provide detailed information regarding the drivers, opportunities, restraints, and challenges influencing market growth
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To estimate and forecast the market size by type, base oil, end-use industry, and region
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To forecast the size of the market for five main regions: Asia Pacific, Europe, North America, South America, and the Middle East & Africa, along with their key countries
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To strategically analyze micromarkets1 with respect to their growth trends, prospects, and contribution to the overall market
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To analyze opportunities in the market for stakeholders and provide a competitive landscape for market leaders
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To analyze competitive developments, such as deals and expansions, in the market
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To analyze the impact of the recession on the market
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To strategically profile key players and comprehensively analyze their growth strategies
HIGHEST CAGR MARKET IN 2024-2029
SOUTH AFRICA FASTEST GROWING MARKET IN THE REGION
Growth opportunities and latent adjacency in Transmission Fluids Market