China Taiwan Crises
Electric Vehicle Fluids Market

Electric Vehicle Fluids Market Size and Segment By Product Type (Engine oil, Coolants, Transmission fluids, Greases) By Vehicle Type (On-highway Electric Vehicles, Off-highway Electric Vehicles) By Propulsion Type (Battery electric vehicles, Hybrid electric vehicles) By Fill Type (First fill, Service fill), by Regions and Global Forecast 2022-2028

Report Id: SNS/C&M/2656 | July 2022 | Region: Global | 126 Pages

Report Scope & Overview:

Electric Vehicle Fluids Market Size was valued at USD 566 million in 2021, and expected to reach USD 5073.71 million by 2028, and grow at a CAGR of 31.0% over the forecast period 2022-2028.

The global electric vehicle fluid market is growing because more and more people want fluids for electric vehicles that work well and last a long time. Most of the time, the battery system and e-motors in an electric vehicle make a lot of heat when they are working. New lubricants for electric vehicles have additives and dielectric properties added to them to make them work well with electric vehicles. Grease, heat transfer fluid, fluid for the drive system, and brake fluid are the main types of fluid that are used to make electric vehicles work better. When electric vehicles are used, the battery system and electric motor make heat. It is expected that more efficient thermal cooling systems will help the market grow in the future.

Electric Vehicle Fluids Market Revenue Graph

Market Dynamics:

Drivers:

  • Electric cars are becoming more popular.

  • Specific Fluid Requirement for Electric Vehicles

Restraints:

  • The price of buying an EV was high at first.

  • Lack of places to charge in public

Opportunity:

  • Governments' strict rules and regulations

  • Initiatives by the government about Evs

Challenge:

  • People don't know how much better EV fluids are than regular fluids for electric vehicles.

  • There needs to be standardisation in the driveline.

Impact of Covid-19:

As the global market for cars changes to accommodate electric vehicles (EVs), the market for fluids for EVs is becoming the new blue ocean. Since EVs are getting better at what they do, they need to use lubricants that are made just for them.

EV fluids are important parts of the power train because they improve performance and the driving experience. E-fluids are a type of product that includes greases, brake fluids, heat transfer fluids, and drive system fluids. Compared to traditional lubricants for internal combustion engines, e-fluids keep e-motors and gears cool and keep electric current from going through them. Also, they make each electric motor part last longer and increase the range of EVs by making machines more efficient.

Before the crisis, the market for electric vehicles (EVs) was booming. Sales in China were the main driver, followed by sales in other European and North American countries. In the early stages of their growth, EVs were heavily pushed by the government, which led to regulations with strict levels of pollution reduction and a lot of financial support and incentives.

Key Players:

Valvoline Inc. (US), ExxonMobil Corporation (US), ENEOS Corporation (Japan), Royal Dutch Shell plc (Netherlands), TotalEnergies SE (France), Petronas (Malaysia), BP plc. (UK), Repsol S.A. (Spain), FUCHS Petrolub AG (Germany) and PTT (Thailand)

Market Segmentation:

By Product Type

  • Engine oil

  • Coolants

  • Transmission fluids

  • Greases

By Vehicle Type

  • On-highway Electric Vehicles

  • Off-highway Electric Vehicles

By Propulsion Type

  • Battery electric vehicles

  • Hybrid electric vehicles

By Fill Type

  • First fill

  • Service fill

Electric Vehicle Fluids Market Segment Pie Chart

Regional Analysis:

Electric vehicle fluids are about to become a very profitable market in Asia and the Pacific.

Even though Europe is still the biggest market for selling fluids for electric vehicles, research from the beginning shows that Asia-Pacific is the next biggest. But this is likely to change by the end of 2022, when the Asia-Pacific market is likely to take over the European market. This prediction is based on the fact that China is the leader in the electric vehicle (EV) industry, which is well supported by the government programmes that encourage people to buy EVs through a mix of regulations and financial incentives. The Chinese government has said that it will spend a huge US$360 Bn on EV infrastructure by 2025. This is a big step forward for the electric vehicle industry in China and Asia as a whole. This is likely to change how EV manufacturers balance supply and demand, but it is also likely to lower the overall cost of production and make EVs more affordable across the region. The situation in the region is also expected to be good for the fluids used in electric vehicles. On the other hand, the EV industry in India shows strong growth potential, which is another good sign of strong market growth in India as well.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

 

Electric Vehicle Fluids Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 566 Million
Market Size by 2028 US$ 5073.71 Billion
CAGR CAGR of 31% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Product Type (Engine oil, Coolants, Transmission fluids, Greases)
• By Vehicle Type (On-highway Electric Vehicles, Off-highway Electric Vehicles)
• By Propulsion Type (Battery electric vehicles, Hybrid electric vehicles)
• By Fill Type (First fill, Service fill)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Valvoline Inc., ExxonMobil Corporation, ENEOS Corporation, Royal Dutch Shell plc, TotalEnergies SE, Petronas, BP plc, Repsol S.A., FUCHS Petrolub AG and PTT
Key Drivers • Electric cars are becoming more popular.
• Specific Fluid Requirement for Electric Vehicles
RESTRAINTS • The price of buying an EV was high at first.
• Lack of places to charge in public


Frequently Asked Questions (FAQ) :

Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.

Ans: On-highway Electric Vehicles and  Off-highway Electric Vehicles are the sub-segments of by Vehicle segment.

 

Ans: EV fluids are important parts of the power train because they improve

performance and the driving experience. E-fluids are a type of product that

includes greases, brake fluids, heat transfer fluids, and drive system fluids.

Compared to traditional lubricants for internal combustion engines, e-fluids keep

e-motors and gears cool and keep electric current from going through them. Also,

they make each electric motor part last longer and increase the range of EVs by

making machines more efficient.

Ans: People don't know how much better EV fluids are than regular fluids for electric vehicles and There needs to be standardisation in the driveline are the challenges faced by the Electric Vehicle Fluids Market.

Ans: Electric Vehicle Fluids Market Size was valued at USD 566 million in 2021, and expected to reach USD 5073.71 million by 2028, and grow at a CAGR of 31.0 %over the forecast period 2022-2028.


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

4.2 Impact of Ukraine-Russia War

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

 

8.Electric Vehicle Fluids Market Segment, By Product Type

8.1 Engine oil

8.2 Coolants

8.3 Transmission fluids

8.4 Greases

 

9.Electric Vehicle Fluids Market Segment, By Vehicle Type

9.1 On-highway Electric Vehicles

9.2 Off-highway Electric Vehicles

 

10.Electric Vehicle Fluids Market Segment, By Propulsion Type

10.1 Battery electric vehicles

10.2 Hybrid electric vehicles

 

11.Electric Vehicle Fluids Market Segment, By Fill Type

11.1 First fill

11.2 Service fill

 

12. Regional Analysis

12.1 Introduction

12.2 North America

12.2.1 USA

12.2.2 Canada

12.2.3 Mexico

12.3 Europe

12.3.1 Germany

12.3.2 UK

12.3.3 France

12.3.4 Italy

12.3.5 Spain

12.3.6 The Netherlands

12.3.7 Rest of Europe

12.4 Asia-Pacific

12.4.1 Japan

12.4.2 South Korea

12.4.3 China

12.4.4 India

12.4.5 Australia

12.4.6 Rest of Asia-Pacific

12.5 The Middle East & Africa

12.5.1 Israel

12.5.2 UAE

12.5.3 South Africa

12.5.4 Rest

12.6 Latin America

12.6.1 Brazil

12.6.2 Argentina

12.6.3 Rest of Latin America

 

13. Company Profile

13.1 Valvoline Inc. (US)

13.1.1 Financial

13.1.2 Products/ Services Offered

13.1.3 SWOT Analysis

13.1.4 The SNS view

13.2 ExxonMobil Corporation (US),

13.3 ENEOS Corporation (Japan),

3.4 Royal Dutch Shell plc (Netherlands),

13.5 TotalEnergies SE (France),

13.6 Petronas (Malaysia),

13.7 BP plc. (UK),

13.8 Repsol S.A. (Spain),

13.9 FUCHS Petrolub AG (Germany),

13.10 PTT (Thailand), 

 

14.Competitive Landscape

14.1 Competitive Benchmark

14.2 Market Share analysis

14.3 Recent Developments

 

15. Conclusion

 

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Secondary Research

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