The global electric vehicle fluids market is anticipated to grow at a considerable CAGR of 21.9% during the forecast period (2022-2028). 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.
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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.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Global 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)
Global Electric Vehicle Fluids Market Report Segment by Region
North America
- US
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global electric vehicle fluids market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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