Electric vehicle fluids market is anticipated to grow at a considerable CAGR of 21.9% during the forecast period (2023-2029). The primary factor contributing towards the growth of the market is the rising shift of key market players towards e-fluids. Further, the rapidly growing competition among the market, as companies are inclining towards launching their products for electric vehicle fluids owing to the growing electric vehicle demand is another factor supporting the growth of the market. As per the data of the International Energy Agency (IEA) 2020, the sales of EV cars increased by more than 40% as compared to the sales of EV cars in 2019. Such demand has shown a huge potential in the market and has pushed market players to launch their own products.
For instance, in May 2019, Shell launched a new range of fluids specifically designed to work in battery electric vehicles (EVs). These E-Transmission Fluids, E-Thermal Fluids, and E-Greases have made battery EVs perform better and be more efficient. Later, in October 2020, Royal Dutch Shell plc added fluids for light-, medium- and heavy-duty commercial EVs to its existing range of passenger car e-fluids. The newly available fluids were for fuel-cell and battery EVs and included transmission fluids, greases, and battery coolants.
Earlier in 2020, Fuchs Petrolub SE launched a dedicated range of fluid products for EVs called BluEV. The German independent joined a small but growing number of lubricant companies that are formulating fluids optimized for plug-ins and hybrids.
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Market Coverage
- The market number available for – 2022-2029
- Base year- 2022
- Forecast period- 2023-2029
Segment Covered-
- By Product Type
- By Fill Type
- By Vehicle Type
- By Propulsion Type
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape- including BP p.l.c., ExxonMobil, Shell plc, TotalEnergies international group, Valvoline, and others.
Electric Vehicle Fluids Market Report Segment
By Product Type
- Engine Oil
- Coolants
- Transmission Fluids
- Greases
By Fill Type
- First Fill
- Service Fill
By Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
By Propulsion Type
- Hybrid Electric Vehicles (HEV)
- Fuel Cell Electric Vehicles (FCEV)
- Battery Electric Vehicles (BEV)
A full Report of Electric Vehicle Fluids Market is Available @ https://www.omrglobal.com/industry-reports/electric-vehicle-fluids-market
Electric Vehicle Fluids Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East & Africa
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- We cover more than 15 major industries, further segmented into more than 90 sectors.
- More than 120 countries are for analysis.
- Over 100+ paid data sources mined for investigation.
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