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According to the report title “Global Electric Vehicle Fluid Market Outlook, 2027”, publish by Bonafide Research electric vehicle fluid market is anticipated to grow at CAGR of more than 25% in value terms in forecast period. The electric vehicle fluid is designed to effectively and efficiently meet a broad range of performance requirements and is engineered specifically for the high-tech powertrains of electrified vehicles. With the rise in penetration of battery electric vehicles and hybrid electric vehicles, the automotive industry is going through a profound shift. Global electric vehicle fluid market is likely to capture higher growth in forecast period alongside the market of Global electric vehicle market and Global electric vehicle battery market.
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Lubricants and fluids have not been a major concern in electric vehicle design until now, but nowadays manufacturers are looking for new products to help electric vehicles to keep up with changing requirements. Electric vehicle fluids are not only essential for lubricating and cooling of powertrains and transmission systems, but they are also needed to stabilize the temperature of the vehicle’s battery and power electronics. According to the report, fluid market is segregated into four major type of products i.e. Grease, Brake fluid, Heat transfer fluid and Drive system fluid. Heat transfer fluid segment is leading the market with more than 80% of value market share and likely to capture higher market share in forecast period. Follow by the drive system fluids having more than 10% of market share. As demand of EV battery is increasing day by day correspondingly the demand of heat transfer fluid which is used for stabilize the temperature of EV battery is also likely to increase in future.
There are various types of e-fluid are present in the market for different E-mobility. Drive system fluid and heat transfer fluid are used in battery electric vehicle and plug-in hybrid electric vehicles. E-grease is designed to counter noise, vibration, and harness (NVH) levels within the electric vehicles. According to the report, by propulsion type, fluid market is segregated into three major types i.e. Battery electric vehicle (BEV), hybrid electric vehicle (HEV) and Plug-in hybrid electric vehicle (PHEV). Battery electric vehicle is leading the market with more than 45% of value market share and likely to captured higher market share in forecast period.
Global momentum towards zero-emissions road transport has accelerated significantly as electric vehicle sales portrayed an increasing trend in previous years. According to the report, Region wise, electric vehicle fluid market is segregated into five major regions i.e. North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. Asia Pacific region is dominating the market with more than 45% value market share. Follow by Europe region. By country, china is leading the EV fluid market with more than 25% of market share. There are many prominent companies in EV fluid market which are leading the market with more than 55% market share. The companies are Shell Plc, Valvoline Inc., Totalenergies Se, Exxonmobil Corporation, Fuchs Petrolub Se, And Petroliam Nasional Berhad (Petronas).
As the Covid-19 pandemic unfolded in early 2020 and lockdowns were implemented in various countries around the world, global electric vehicle fluid market experienced an unprecedented drop alongside the electric vehicle market. However the EV fluid market recovered rapidly in previous year and likely to capture higher growth in future. Governments around the world remain committed to provide incentive on the sale of EVs and are focusing on new projects and ambitious policies for EVs. As the world recovers from COVID-19, new regulatory reforms to curb carbon emissions, expansion of EV battery market, and support for indigenous production of EVs is expected to drive the growth of the electric vehicle fluid market and opportunity for electric vehicle fluids manufacturers.
Major Companies present in the market:
Shell Plc, Valvoline Inc., Totalenergies Se, Exxonmobil Corporation, Fuchs Petrolub Se, And Petroliam Nasional Berhad (Petronas), Repsol S.A, Castrol Limited, Afton Chemicals, Motul, Dober, Infineum International Limited, Eneos Corporation, The Lubrizol Corporation, Engineered Fluids Inc.
Considered in this report
• Geography: Global
• Base year: 2021
• Estimated year: 2022
• Forecast year: 2027
Aspects covered in this report
• Global Electric Vehicle Fluid market with its value and forecast along with its segments
• Region-wise electric vehicle fluid market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation
Regions covered in the report
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa
Types of Product in the report:
• Grease
• Braking Fluid
• Heat Transfer Fluid
• Drive System Fluid
Type of Propulsion in the report:
• Battery Electric Vehicle (BEV)
• Plug-In Hybrid Electric Vehicle (PHEV)
• Hybrid Electric Vehicle (HEV)
By Vehicle Type:
• Passenger Vehicle
• Commercial Vehicle
Table of Contents
1. Executive Summary
2. Report Methodology
3. Market Structure
3.1. Market Considerate
3.2. Market Definition
4. Economic /Demographic Snapshot
5. Global Electric Vehicle Fluid Market Outlook
5.1. Market Size By Value
5.2. Market Share
5.2.1. By Region
5.2.2. By Product Type
5.2.3. By Propulsion Type
5.2.4. By Vehicle Type
5.2.5. By Company
5.2.6. By Country
…continue
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