Driveline Additives Market Revenue to Hit US$ 10 Bn Mark in 2025
The automotive industry is undergoing a multitude of technology-enabled transformations. Over the years, gasoline and diesel powertrains have been characterizing the industry. As government mandates are becoming more stringent, automotive manufacturers are shifting towards transportation that is efficient in terms of fuel, and, in turn, cost. This diversifying powertrain portfolio is boding well for the driveline additives market, which would exceed US$ 10 Bn by 2025 end, according to a new FMI study.
Frequently Asked Question about Driveline Additives Market
How will the driveline additives market fare in the future?
The global market is estimated to grow at a significant rate, owing to increasing application of driveline additives in end-use industries such as automotive, mining, agriculture, and construction. Rising consumer inclination towards enhancing the fuel efficiency of vehicles is further estimated to drive market growth.
Will volatile raw material prices affect the future trajectory of the driveline additives market?
Yes, the prices of driveline additives have increased substantially over the last couple of years, due to volatility in the supply of raw materials, along with the general impact of higher crude oil prices, which is expected to affect the growth of the market in the foreseeable future.
Which product type holds potential growth opportunities for market players?
The transmission fluid type of driveline additives is expected to provide sustainable opportunities for key players in the global market. Growing demand for increased fuel efficiency from OEMs, along with rising adoption of innovative technologies such as dual clutch technology (DCT), is poised to drive the demand for transmission fluid additives over the forecast period.
What is the degree of competition in the driveline additives market?
The driveline additives market shows a highly competitive structure, with the presence of a large number of regional and local market players. Key market players such as The Lubrizol Corporation, BASF SE, and Chevron Oronite Company, LLC account for a major market share in the global driveline additives market.
Which region will lead the global sales of driveline additives?
APEJ remains at the forefront of the global driveline additives market, with significant market potential in the growing markets of China and India. China is dominating the market, owing to rapid industrialization and the growing automotive industry. Also, stringent government regulations pertaining to volatile organic content (VOC) emissions from automobiles in the region are projected to fuel market growth in APEJ.
Transmission Fluid Additives Continue to Lead the Way
Transmission fluid additives have been maintaining a leading share in the driveline additives market, a trend that will accelerate through 2029. New technology developments such as dual-clutch transmission (DCT) call for powertrain fluids with better fuel efficiency, and thus, manufacturers are widening their focus on transmission fluid additives. Moreover, increasing demand for high-performance fuels are further compelling OEMs to retool every facet of their approach, which is again boosting the adoption of transmission fluid additives.
APEJ’s High Market Share Remains Intact Through 2029
Uptight CO2 regulations in a majority of countries would be critical in shaping the driveline additives market, in both, developed and developing regions. Asia Pacific (excluding Japan), capturing over a quarter of overall market share, continues to offer opportunities for growth and disruption. Moreover, driveline additives market activity in North America and Europe is also strong, with tech-intense locations such as the U.S. and Germany playing an instrumental role in pushing the revenue pool of these developed regional markets.
* This data is only a representation. Actual data may vary and will be available in report.
Dual Clutch Transmission (DCT) - Tipping Point in Market Landscape
Dual clutch transmission (DCT) improves power, efficiency, and assures smooth transmission with low carbon emissions and superior fuel efficacy. This novel technology is likely to help reduce the fuel consumption of vehicles by 25-30%, thereby curbing environmental deterioration. DCT runs on advanced transmission, which requires specially formulated additives to attain its full potential. Market players must focus on leveraging this opportunity to manufacture specialized driveline additives based on advanced technologies, and formulate superior quality lubricants complying with DCT specifications.
Transmission fluid additives stay high in demand
Gear oil additives to see moderate demand growth
Passenger cars to show highest CAGR
Adoption in commercial vehicles vehicles rises gradually
How Growth will Unfold
The driveline additives market will witness maximum revenue development from passenger and commercial vehicles, with both accounting for a collective share of nearly 90% of total market value. This revenue growth is a result of upsurge in the on-road vehicle fleet as well as private vehicle ownership, especially in developing regions. Manufacturers targeting both these vehicle types will be better placed to retain customers through better services and products, and, as such, would be rewarded with bigger margins in the global driveline additives market.
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
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Driveline Additives Market Analysis 2019-2029
A recent market report published by Future Market Insights on the driveline additives market includes the global industry analysis of 2014-2018 and opportunity assessment for 2019-2029, and delivers a comprehensive assessment of the most important market dynamics. Our analysts conduct thorough research on the historical as well as current growth parameters of the market to obtain growth prospects with maximum precision.
Driveline Additives Market Taxonomy
- Transmission Fluid Additives
- Gear Oil Additives
- Passenger Cars
- Commercial Vehicles
- Off-highway Vehicles
- North America
- Latin America
- Western Europe
- Eastern Europe
The report begins with the executive summary of the driveline additives market, which includes a summary of the key findings and statistics of the market. It also includes the demand & supply-side trends pertaining to the driveline additives market.
In this chapter, readers can find the definition and a detailed taxonomy of the driveline additives market, which will help them understand basic information about the driveline additives market. Along with this, comprehensive information about driveline additives is provided in this section. This section also highlights the inclusions and exclusions to help readers understand the scope of the driveline additives market report.
The driveline additives market report provides key market trends that are expected to significantly impact market growth during the forecast period.
This section explains the global market value analysis and forecast for the driveline additives market for the forecast period of 2019-2029. This chapter includes a detailed analysis of the historical driveline additives market, along with an opportunity analysis of the future. Readers can also find the absolute $ opportunity for the current year (2019), and an incremental $ opportunity for the forecast period (2019-2029). Along with this, pricing analysis of the driveline additives market at the regional level has been provided in this section. This section also explains the global market volume analysis and forecast for the driveline additives market in the forecast period of 2019-2029.
This chapter explains key macroeconomic factors that are expected to influence the growth of the driveline additives market over the forecast period. Along with the macroeconomic factors, this section also highlights the value chain, supply chain, and value chain analysis for the driveline additives market. Moreover, in-depth information about the market dynamics and their impact analysis on the market have been provided in the successive section.
Based on product type, the driveline additives market is segmented into transmission fluid additives and gear oil additives. In this chapter, readers can find information about the key trends and developments in the driveline additives market and market attractiveness analysis based on product type.
This chapter provides details about the driveline additives market based on application and has been classified into passenger cars, commercial vehicles, and off-highway vehicles. In this chapter, readers can understand the market attractiveness analysis based on application.
This chapter explains how the driveline additives market is expected to grow across various geographic regions such as North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, and the Middle East & Africa (MEA).
This chapter includes a detailed analysis of the growth of the North America driveline additives market, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find the pricing analysis, regional trends, and market growth based on application and countries in North America.
This chapter provides the growth scenario of the driveline additives market in Latin American countries such as Brazil, Mexico, Argentina, and the Rest of Latin America. Along with this, an assessment of the market across target segments is provided in this chapter.
Important growth prospects of the driveline additives market based on its end users in several countries such as Germany, France, the U.K., Spain, and the Rest of Western Europe are included in this chapter.
This chapter highlights the growth of the driveline additives market in Russia and the Rest of Eastern Europe. This section also helps readers understand the key factors that are responsible for the growth of the driveline additives market in Eastern Europe.
This chapter highlights the growth of the driveline additives market in APEJ by focusing on China, India, ASEAN, Oceania, and the Rest of APEJ. This section also helps readers understand the key factors that are responsible for the growth of the driveline additives market in APEJ.
This chapter highlights the growth of the driveline additives market in Japan. This section also helps readers understand the key factors that are responsible for the growth of the driveline additives market in Japan.
This chapter provides information about how the driveline additives market is anticipated to grow in major countries in the MEA region such as GCC countries, South Africa, and the Rest of MEA, during the forecast period of 2019-2029.
In this chapter, readers can find detailed information about the tier analysis and market concentration of key players in the driveline additives market, along with their market presence analysis by region and product portfolio.
In this chapter, readers can find a comprehensive list of prominent stakeholders in the driveline additives market, along with detailed information about each company, which includes company overview, revenue shares, strategic overview, and recent company developments. Some of the market players included in the report are Lubrizol Corporation, BASF SE, Afton Chemical Corporation, and Chevron Oronite Company, LLC.
This chapter includes a list of acronyms and assumptions that provides a base to the information and statistics included in the driveline additives market report.
This chapter help readers understand the research methodology followed to obtain various conclusions, as well as important qualitative and quantitative information, about the driveline additives market.
How the research was conducted?
- C - Level Executives
- Marketing Directors
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- Procurement Heads
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- Raw Material Suppliers
- Industry Experts
- End Users
- Current market dynamics and challenges
- Yesteryear trends
- Market characteristics
- Market performance and growth quadrants
- Competition structure and market structure
- Strategic growth initiatives
- Near-term and long-term market growth prospects
- Market segment splits and authenticity
- Opinions on market projections and validity of assumptions
- Industry Publications
- Industry Associations
- Company Press Releases
- Annual Reports and Investor Presentations
- Research Papers
- Government Websites and Publications
- Trade Websites
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