The global electric vehicle fluids and lubricants market size reached USD 1,178.8 Million in 2020 and is expected to register a CAGR of 18.7%, during the forecast period, according to latest analysis by Emergen Research. Increasing demand for effective and reliable electric vehicle fluids and lubricants is one of the key factors expected to drive global electric vehicle fluids and lubricants market growth during the forecast period. Rising adoption of electric vehicles and increasing government support in the form of subsidies and incentives to increase adoption of electric vehicles are other key factors expected to augment growth of the global electric vehicle fluids and lubricants market going ahead.
The report also covers the influence of the COVID-19 pandemic on the Electric Vehicle Fluids and Lubricants market. The pandemic has dynamically affected all aspects of life on a global scale along with drastic changes in the economy and market conditions. The report covers the currently fluctuating market scenario along with present and future assessment of the COVID-19 impact. The report encompasses the historical data, company overview, financial standing, and necessary information about the new and key players of the market. The latest and updated research report on the Global Electric Vehicle Fluids and Lubricants Market covers a comprehensive overview of the Electric Vehicle Fluids and Lubricants market, future economic condition, competitive landscape mapping, supply and demand trends, and production and consumption analysis.
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Some Key Highlights in the Report
- Increasing adoption of BEVs globally is expected to drive revenue growth of the battery electric vehicles segment during the forecast period.
- Factors such as increasing adoption of electric vehicles due to stringent regulations implemented by government in countries in North America to reduce carbon emissions, adopt more environment-friendly and renewable energy resources and vehicles, and rising focus on reducing dependence on fossil fuels among others, are driving growth of the market in the region.
- In September 2019, Valvoline Inc. launched electric vehicle-specific product offerings with the introduction of EV Performance Fluids. The global product line includes EV drive system fluid, EV heat transfer fluid, EV grease, and EV brake fluid which is designed to meet the distinctive requirements of electric vehicles.
- Grease segment revenue is expected to expand at a significant CAGR during the forecast period. Increasing use of grease in electric vehicles for lubricating door locks, hinges, and powertrain is expected to boost revenue growth of this segment.
The report offers a comprehensive overview of the competitive landscape and covers company profiles, production and manufacturing capacity, product portfolio, expansion strategies, and business initiatives such as mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches and brand promotions among others.
Prominent Players Analyzed in the Report:
3M, Castrol, Royal Dutch Shell, Total Lubricants, Valvoline Inc., Motul, Fuchs Petrolub SE, Engineered Fluids Inc, Exxon Mobil Corporation, and Lubrizol Corporation.
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Furthermore, the report divides the Electric Vehicle Fluids and Lubricants market into key segments and sub-segments to offer an analysis of the product type and application spectrum of the industry. It also offers predictions about the segments expected to show significant growth during the projected timeline.
Emergen Research has segmented the global electric vehicle fluids and lubricants market on the basis of product type, distribution channel, propulsion type, and region:
Product Type Outlook (Revenue, USD Million; 2018–2028)
- Grease
- Brake Fluid
- Heat Transfer Fluid
- Drive System Fluid
Distribution Channel Outlook (Revenue, USD Million; 2018–2028)
- OEMs
- Aftermarket
Propulsion Type Outlook (Revenue, USD Million; 2018–2028)
- Battery Electric Vehicles (BEVs)
- Hybrid Electric Vehicles (HEVs)/Plug-In Hybrid Electric Vehicles (PHEVs)
The report offers a comprehensive breakdown of the regional analysis of the market and subsequent country-wise analysis. The regional analysis of the market comprises of production volume information, consumption volume and patterns, revenue, and growth rate for the forecast period of 2020-2028. According to the regional analysis, the market is primarily spread over key geographical regions as follows:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The report covers key points of the market, including the standards, regulations, and policy changes applied by the government on the industry for the coming years. The report encompasses thorough research carried out by the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to pinpoint the growth trends and patterns. Factors likely to influence the growth of the market, current trends, opportunities, restraining factors, and business landscape are discussed in-depth in the market study.
Overview of the Electric Vehicle Fluids and Lubricants Market Report:
- Introduction, Product Scope, Market Overview, and Opportunities
- Analysis of the Manufacturers with sales, revenue, and price analysis
- Comprehensive analysis of the competitive landscape
- Extensive profiling of the key competitors along with their business strategies and market size
- Regional analysis of the market along with sales, revenue, market share, and global position
- Country-wise analysis of the market along with types, applications, and manufacturing
- Strategic recommendations to established players as well as new entrants
- In-depth analysis of the risks, restraints, and limitations in the Electric Vehicle Fluids and Lubricants industry
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