Electric Vehicle Fluids Market by Product Type, Vehicle Type, Propulsion Type, Fill Type and Region – Global Forecast to 2030 – Yahoo Finance

DUBLIN, Nov. 8, 2021 /PRNewswire/ — The “Electric Vehicle Fluids Market by Product Type (Engine oil, Coolants, Transmission Fluids, and Greases), Vehicle type (On-highway vehicle, Off-highway vehicle), Propulsion Type (Hybrid EV, Battery EV), Fill Type, and Region – Global Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.

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The Electric Vehicle Fluids market is projected to reach USD 8,644 million by 2030, at a CAGR of 31.2% from USD 749 million in 2021.

The major factor driving the demand for electric vehicle fluids is an increase in electric vehicle production. With the growing concern over tailpipe emissions and their harmful effects on the environment, stringent standards for carbon dioxide and pollutants such as nitrogen oxide, unburned hydrocarbons, and particulates have been put in place, resulting in hybrid and full EVs no longer being seen as uncommon, but the standard for the future. A specific fluid requirement in EVs is also one of the other driving factors for electric vehicle fluids as an ICE’s motor differs greatly from EV motors and thus, needs fluids, which cater to totally different functions than that in the n the ICEs.

Stringent mandates by governments

Stringent mandates by governments are a major opportunity for electric vehicle fluids manufacturers. Emission of carbon from ICE vehicles is now treated as a significant threat by governments in many countries. Thus, the gradual tightening of fuel economy and tailpipe CO2 standards have augmented the role of EVs to meet the standards. Government initiatives pertaining to EVs, such as investment in infrastructure, tax rebates, and others, also act as a major opportunity for the growth of the electric vehicles and the electric vehicle fluids markets.

The hybrid EV segment accounted for the larger market share in 2020; however, the Battery EV segment is expected to account for the larger share by 2030. Battery EVs do not require a gasoline engine, which requires fuel and routine maintenance. Though battery EVs require less EV fluids than the hybrid ones, the large-scale production of battery EVs in comparison to Hybrid EVs is expected to lead to the demand for EV fluids during the forecast period. The prices of batteries for EVs are decreasing due to the advancements in technology, which are expected to result in the reduced overall prices of BEVs.

Coolants is estimated to be the largest product type in electric vehicle fluids market between 2021 and 2026.

Coolants, which are used for regulating the temperature of the battery pack and other electronic components, are expected to be the fastest-growing product type for electric vehicles during the forecast period. The engine oil segment is expected to lead the overall electric vehicle fluids market during the forecast period. This is due to the high demand for engine oil in hybrid electric vehicles during first, and service fills. Engine oil has far less replacement interval in comparison to other electric vehicle fluids, which leads to its large-scale consumption. High market share in terms of volume and high prices of engine oil in comparison to other EV fluids will result in the largest market share of engine oil during the forecast period.

APAC is expected to be the fastest-growing electric vehicles fluid market during the forecast period, in terms of volume.

APAC accounted for the largest share of 47.8% of the global electric vehicle fluids market, in terms of volume, in 2020. The market is projected to grow at a CAGR of 31.4% during the forecast period. Large-scale production and consumption of electric vehicles in the region presents a large base for electric vehicle fluids. Thus, APAC had the largest share in electric vehicle fluids market in 2020. Europe is the second-largest market for electric vehicle fluids globally, accounting for a share of 40.5%, in terms of volume, of the global electric vehicle fluids market in 2020.

High demand for electric vehicles in Europe due to government regulations and investments, subsidies, tax rebates, and others are supporting the growth of electric vehicle fluids in the region. North America is the third-largest region in the global electric vehicle fluids market, in terms of volume. The US is the largest market in North America and accounts for nearly 95% of the market in the region. High sales in comparison to other North American countries and presence of the world’s largest EV producer, in the country make the US the largest market for electric vehicle fluids in North America.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities for Electric Vehicle Fluid Manufacturers
4.2 Electric Vehicle Fluids Market, by Region
4.3 Electric Vehicle Fluids Market, by Product Type, 2020
4.4 APAC: Electric Vehicle Fluids Market, by Product Type and Country, 2020
4.5 Global Electric Vehicle Fluids Market Attractiveness

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers Increasing Demand for Electric Vehicles Specific Fluid Requirement for Electric Vehicles
5.2.2 Restraints Initial High Cost of Purchasing Ev Lack of Public Charging Facilities
5.2.3 Opportunities Stringent Mandates by Governments Government Initiatives Pertaining to Evs
5.2.4 Challenges Lack of Awareness of Benefits of Using Ev Fluids Over Regular Fluids for Electric Vehicles Need for Standardized Technologies in the Driveline
5.3 Porter’s Five Forces Analysis
5.3.1 Threat of Substitutes
5.3.2 Bargaining Power of Suppliers
5.3.3 Bargaining Power of Buyers
5.3.4 Threat of New Entrants
5.3.5 Rivalry Among Existing Competitors
5.4 Macroeconomic Indicators
5.4.1 GDP Trends and Forecast of Major Economies
5.4.2 Oil & Gas Industry
5.5 COVID-19 Impact
5.5.1 Introduction
5.5.2 COVID-19 Health Assessment
5.5.3 COVID-19 Economic Assessment COVID-19 Impact on the Economy-Scenario Assessment
5.6 Impact of COVID-19: Customer Analysis

6 Industry Trends
6.1 Supply Chain Analysis
6.1.1 Raw Material
6.1.2 Blending
6.1.3 Distribution
6.1.4 End-Use Industries
6.2 Connected Market: Ecosystem
6.3 Trends/Disruptions Impacting Customer Businesses
6.4 Technology Analysis
6.5 Case Study Analysis
6.5.1 Case Study on Jaguar Racing Formula E Team with Castrol’s Ev Fluids
6.5.2 Audi Launches Audi E-Tron That Uses Liquid Cooling
6.6 Electric Vehicle Fluids Market: Realistic, Pessimistic, Optimistic, and Non-Covid-19 Scenarios
6.6.1 Non-Covid-19 Scenario
6.6.2 Optimistic Scenario
6.6.3 Pessimistic Scenario
6.6.4 Realistic Scenario
6.7 Trade Data
6.7.1 Import Scenario of Electric Vehicles
6.7.2 Export Scenario of Electric Vehicles
6.8 Average Selling Prices of Electric Vehicle Fluids
6.9 Future Industry Trends
6.9.1 800V Vehicles
6.9.2 Battery Thermal Management
6.10 Development in Motor Engines Impact the Electric Vehicle Fluids Market
6.10.1 New Demand for E-Mobility Electrical Interactivity Lower Viscosities New Materials Diverse Operating Temperatures New Friction Requirements
6.11 New Technologies Developed by Top Oems and Tier-1 Manufacturers and Their Stage of Development with Technology Partners
6.12 Operational Data
6.12.1 Evs Across the World
6.12.2 Upcoming Electric Vehicle Models, 2021-2025
6.12.3 Top Selling Ev Model Sales Worldwide, 2020 (Thousand Units)
6.12.4 Europe: Ev Sales, by Electric Car Segment, 2019 and 2020
6.12.5 Electric Vehicle Market Share Analysis of Top 5 Players, 2020
6.13 Cost Comparison of Ev Vs. Ice
6.14 Regulatory Landscape
6.14.1 Netherlands
6.14.2 Germany
6.14.3 France
6.14.4 UK
6.14.5 China
6.14.6 US
6.15 COVID-19 Impact on Electric Vehicle Production
6.15.1 Impact of COVID-19 on Electric Vehicle Production

7 Electric Vehicle Fluids Market Size, by Fill Type
7.1 Introduction
7.2 First Fill
7.2.1 Rise in Electric Vehicle Production to Boost Demand
7.3 Service Fill
7.3.1 Rise in On-Road Electric Vehicles and Fixed Maintain Ace Intervals to Propel the Market

8 Electric Vehicle Fluids Market Size, by Propulsion Type
8.1 Introduction
8.2 Battery Electric Vehicles
8.2.1 Plugin Battery Electric Vehicles (Bevs) Increase in Vehicle Range Per Charge to Boost the Demand for Bevs
8.2.2 Fuel Cell Electric Vehicles (Fcevs) Demand for Zero-Emission Vehicles to Uplift the Demand for Electric Vehicle Fluids
8.3 Hybrid Electric Vehicles
8.3.1 Government Provision of Tax Benefits and Incentives to Enhance the Demand

9 Electric Vehicle Fluids Market Size, by Vehicle Type
9.1 Introduction
9.2 On-Highway Electric Vehicles
9.2.1 Passenger Cars (Pcs) Growing Emission Norms to Support Market Growth
9.2.2 Commercial Vehicles (Cvs) Growth of E-Commerce and Logistics to Boost Demand for Commercial Vehicles
9.3 Off-Highway Electric Vehicles
9.3.1 Rising Demand from Agriculture, Mining, and Construction Industries to Boost the Demand for Off-Highway Vehicles

10 Electric Vehicle Fluids Market Size, by Product Type
10.1 Introduction
10.2 Engine Oil
10.2.1 Demand from Hybrid Vehicles and Lower Fill Interval to Boost the Market for Engine Oil
10.3 Coolants
10.3.1 Temperature Regulation in Electric Vehicle Battery Packs and the Other Electronic Components to Contribute to Market Growth
10.4 Transmission Fluids
10.4.1 Higher Consumption in Hybrid Electric Vehicles to Favor Market Growth
10.5 Greases
10.5.1 Rise in Electric Vehicle Production to Boost the Market
10.6 Others

11 Electric Vehicle Fluids Market, by Region

12 Competitive Landscape
12.1 Introduction
12.2 Strategies Adopted by Key Players
12.3 Market Share Analysis
12.3.1 Ranking of Key Market Players
12.3.2 Market Share of Key Players, 2020 Royal Dutch Shell plc. Exxonmobil Corporation Bp plc. Fuchs Petrolub Se Totalenergies Se
12.3.3 Revenue Analysis of Key Market Players, 2019-2020
12.4 Company Product Footprint Analysis
12.5 Company Evaluation Quadrant
12.5.1 Stars
12.5.2 Emerging Leaders
12.5.3 Participants
12.6 Competitive Situations and Trends
12.6.1 New Product Launches
12.6.2 Deals

13 Company Profiles
13.1 Major Players
13.1.1 Royal Dutch Shell plc
13.1.2 Valvoline Inc.
13.1.3 Totalenergies Se
13.1.4 Exxonmobil Corporation
13.1.5 Bp plc.
13.1.6 Fuchs Petrolub Se
13.1.7 Petronas
13.1.8 Ptt Public Company Limited
13.1.9 Repsol S.A
13.1.10 Eneos Corporation

14 Adjacent & Related Markets

15 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/dcq1iv?

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source: Electric Vehicle Fluids Market by Product Type, Vehicle Type, Propulsion Type, Fill Type and Region – Global Forecast to 2030 – Yahoo Finance

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