About Electric Vehicle Fluids
Electric vehicle (EV) fluids are a specific type of lubricant and coolant designed for the unique needs of electric cars and other electric vehicles. Unlike traditional gasoline-powered cars that rely on engine oil and other fluids, EVs have different requirements due to their electric motors and battery packs. These fluids play a crucial role in ensuring the optimal performance, efficiency, and lifespan of various EV components. The electric vehicle fluids market is a dynamic and growing sector with a bright future. Companies that can innovate, adapt, and compete effectively will be well-positioned to capitalize on the opportunities that this market presents.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key players are adopting numerous strategies to gain market attention and to increase their market share, this strategy can be listed as increasing product portfolio, making partnerships to adopt certain technologies, and acquiring small players to finish the competition in the future. As well as investing money in the R&D sector to make technical upgrades to the product. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Electric Vehicle Fluids market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Shell plc. (United Kingdom), CASTROL LIMITED (United Kingdom), Gulf Oil International Ltd. (United States), Exxon Mobil Corporation (United States), TotalEnergies (France), Idemitsu Kosan Co., Ltd. (Japan), Valvoline Global Operations (United States), FUCHS (Germany), PTT Lubricants (Indonesia) and Motul (France) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Liqui Moly (Germany), AMSOIL INC. (United States), Repsol S.A. (Spain), ENEOS USA INC. (United States) and Petroliam Nasional Berhad (Malaysia).
Segmentation Overview
AMA Research has segmented the market of Global Electric Vehicle Fluids market by Type (EV Transmission Oil, EV Greases, EV Thermal Fluid, Coolant, Brake Fluid, Axle Fluid and Others) and Region.
On the basis of geography, the market of Electric Vehicle Fluids has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Vehicle, the sub-segment i.e. Passenger Vehicle will boost the Electric Vehicle Fluids market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Fill, the sub-segment i.e. First Fill will boost the Electric Vehicle Fluids market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. OEM will boost the Electric Vehicle Fluids market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Propulsion , the sub-segment i.e. Plug-In EV will boost the Electric Vehicle Fluids market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Demand for Environmentally Friendly and Biodegradable Fluids
Market Growth Drivers:
Rising Demand for EVs and Growing Awareness of the Benefits of EVs
Challenges:
Lack of Standardization
Restraints:
Competition from Alternative Technologies
Opportunities:
Increasing Investment in EV Infrastructure and Government Incentives and Subsidies
Market Leaders and their expansionary development strategies
In December 2022, Gulf Oil Lubricants India Ltd formed a partnership with Altigreen, an India-based manufacturer of commercial EVs, for the supply of EV fluids including brake and gear oils for five years.
In November 2022, TotalEnergies launched global range of EV Fluids in India, the new product ranges - Quartz EV Fluid for cars and Hi-Perf EV Fluid for bikes have been developed specifically for drivetrain reducers, e-motors, e-transmissions and batteries in electric and hybrid vehicles.
Key Target Audience
Manufacturer, Potential Investors, Suppliers & Distributors, Research Center, Government Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.