The global demand for Electric Vehicle Fluids Market is presumed to reach the valuation of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of 25% under the study period of 2022 - 2028.
EV fluids are an engineered lubricant used in electric vehicles to improve the performance. Currently, these fluids have become important as they can assist in regulating EV’s battery temperature and power electronics. Apart from this, another main function of EV fluids is lubricating transmission and powertrain. According to research, EV sales are expected to grow exponentially in the coming decade. As per Shell statement, about half of the vehicles produced are projected to be electrified vehicles by 2031. Apart from this, few car manufactures have already announced that they plan to stop manufacturing diesel models.
The market is primarily driven by increasing environmental concern and implementation of government regulation. These factors are forcing companies to constantly innovate the new technology to reduce the carbon-footprint and managing consumer expectation for performance and quality. Apart from this, decreasing prices of batteries as battery cost have depreciated 75% over the past five years, pushing the companies to launch EV on roads is another factor that propel the demand. Rising R&D activities and rising adoption of electric vehicle is expected to drive the market.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of electric vehicle fluids.
The entire electric vehicle fluids market has been sub-categorized into vehicle type, application, EV type. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
By Vehicle Type
- Passenger Car
- Commercial Vehicle
By EV Type
- Battery Coolant
This section covers regional segmentation which accentuates on current and future demand for electric vehicle fluids market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Electric Vehicle Fluids Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the electric vehicle fluids market include Royal Dutch Shell PLC, Total S.A., Castrol Limited, FUCHS Lubricants, ExxonMobil Corporation, Lubrizol Corporation, Petronas Nasional Bhd. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
In case you have any custom requirements, do write to us. Our research team can offer a customized report as per your need.