FREMONT, Calif., June 16, 2022 /PRNewswire/ — The global fluids and lubricants market for electric vehicles is projected to reach $17.41 billion in terms of revenue by 2031, at a CAGR of 28.81%, suggests the premium market intelligence study by BIS Research.
The increasing application areas for new ev fluids have led to the surge in the demand for various types of coolants and lubricants used in automobiles. Automotive OEMs have partnered with various fluid providers to source fluids for their electric vehicles to improve the driving experience.
As governments across the world are starting to implement plans for increasing electric vehicle sales and phasing-out IC engine vehicles in their respective countries, the market for fluids in electric vehicles is also bound to expand.
The research study focuses on putting forward a clear picture of the current consumption and future growth potential of electric vehicle fluids market.
The detailed study is a compilation of 225 market data tables and 104 figures spread through 316 pages and in-depth TOC on “Fluids and Lubricants Market for Electric Vehicles – Analysis and Forecast, 2022-2031”
Reasons to Buy This Report
This exclusive report on the global fluids and lubricants market for electric vehicles will help you in the following ways:
- Extensive competitive benchmarking of the top 19 players (including point and multiple solution companies) has been done to offer a holistic view of the ev fluids market.
- Market ranking analysis based on product portfolio, recent developments, and regional spread.
- Startups analysis with an overview and analyst viewpoint has been provided.
Demand – Drivers and Limitations
Following are the demand drivers for the fluids and lubricants market for electric vehicles:
- Need for corrosion resistant solutions in the electric vehicle batteries
- Increasing demand to further extend the range of the electric vehicles
- Rapid adoption of immersive cooling for the electric vehicle batteries
- Improved durability of powertrain in electric vehicles
- The growing need for enhanced electrification components
The market is expected to face some limitations too due to the following challenges:
- Higher cost of ev fluids
- Energy efficiency challenges
- Developing environment-friendly electric vehicle fluids
Analyst’s Take on the Market
According to Girish Jambale, Senior Research Associate, BIS Research, “The fluids and lubricants market for electric vehicles evolved rapidly and is anticipated to continue to spur with the same pace in the following years. Businesses are coming up with innovative solutions and launching new products in the market. Collaborations and product launches are key strategies that assist the market’s growth. An increasing electric vehicle fleet is anticipated to push the aftermarket consumption of electric vehicle fluids and lubricants. Multiple solution providers are expected to dominate the market owing to their expertise in fluid development and widespread distribution network.”
View the report on Fluids and Lubricants Market for Electric Vehicles
Key Companies Operating in the Market and Competitive Landscape
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.
Public companies are leading in the fluids and lubricants market for electric vehicles. For base year 2021, private companies in the market capture around 5% of the market share, whereas public companies in the market capture around 95% of the market share in the global fluids and lubricants market for electric vehicles.
Some of the prominent names established in this market are:
Company Type 1: Private Companies
- Afton Chemicals
- Engineered Fluids
- Infineum International Limited
- Klüber Lubrication
- M&I Materials Limited
- Panolin AG
Company Type 2: Public Companies
- CASTROL Limited
- Exxon Mobil Corporation
- The Lubrizol Corporation
- PolySi Technologies Inc.
- Shell plc
- TotalEnergies SE
- Valvoline Inc.
Companies that are not a part of the previously-mentioned pool have been well represented across different sections of the report (wherever applicable).
Who Should Buy This Report?
Electric vehicle fluids manufacturers and electric vehicle manufacturers should buy this report.
Key Questions Answered in the Report
- What are the key drivers and challenges in the global fluids and lubricants market for electric vehicles?
- What are the major patents filed by the companies active in the ev fluids market?
- Do electric cars use oil for lubrication?
- How does the supply chain function in the global fluids and lubricants market for electric vehicles?
- Which EV fluid type segment is expected to witness the maximum demand growth in the global fluids and lubricants market for electric vehicles during 2021-2031?
- Which are the key application areas for which different fluid types may experience high demand during the forecasted period, 2021-2031?
- For a new company looking to enter the electric vehicle fluids market, which areas could it focus upon to stay ahead of the competition?
- What kind of new strategies are being adopted by the existing market players to strengthen their market position in the industry?
- What are the key business opportunities in the fluids and lubricants market for electric vehicles?
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About BIS Research
BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends which can disrupt the market dynamics in the near future. We publish more than 200 market intelligence studies annually that focus on several deep technology verticals.
Our strategic market analysis emphasizes on market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
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