The Electric Vehicle Fluids Market Size was valued at USD 741.46 million in 2022, and expected to reach USD 6.43 billion by 2030, and grow at a CAGR of 31.0% over the forecast period 2023-2030.
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.
Get E-PDF Sample Report on Electric Vehicle Fluids Market - Request Sample Report
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
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.
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
.png)
Get Customized Report as Per Your Business Requirement - Request For Customized Report
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
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).
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 741.46 Million |
| Market Size by 2030 | US$ 6.43 Billion |
| CAGR | CAGR of 31% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| 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 |
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
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
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
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
The Biocomposites Market was valued at USD 32.59 billion in 2023 and is supposed to reach USD 105.38 billion by 2031. It is expected to grow at a CAGR of 15.8% over the forecast period 2024-2031.
Hydrocolloids Market size was valued at USD 12.07 billion in 2023 and is expected to grow to USD 18.82 billion by 2031 and grow at a CAGR of 5.8% over the forecast period of 2024-2031.
The Polyurea Coatings Market Size was valued at USD 1.46 billion in 2022, and is expected to reach USD 3.75 billion by 2030, and grow at a CAGR of 12.5 % over the forecast period 2023-2030.
The Hydrogen Fluoride Gas Detection Market Size was valued at USD 783 million in 2023 and is expected to reach USD 1.20 billion by 2031 and grow at a CAGR of 5.5% over the forecast period 2024-2031.
The Allulose Market Size was valued at USD 250.53 million in 2023 and is expected to reach USD 486.28 million by 2031 and grow at a CAGR of 8.5% over the forecast period 2024-2031.
The Lubricant Additives Market size was valued at USD 17.2 billion in 2022. It is expected to grow to USD 23.54 billion by 2030 and grow at a CAGR of 4% over the forecast period of 2023-2030.
Hi! Click one of our member below to chat on Phone
© 2024 All Rights Reserved by SNS Insider Pvt Ltd
