Need help finding what you are looking for?
Contact Us
PUBLISHER: Grand View Research | PRODUCT CODE: 1474990
PUBLISHER: Grand View Research | PRODUCT CODE: 1474990
Electric Vehicle Fluids Market Size, Share & Trends Analysis Report By Product, (Engine Oil, Coolant, Transmission Fluids, Greases), By Vehicle Type, By Propulsion Type, By Region, And Segment Forecasts, 2024 - 2030
PUBLISHED:
PAGES: 90 Pages
DELIVERY TIME: 2-10 business days
SELECT AN OPTION
Electric Vehicle Fluids Market Growth & Trends:
The global electric vehicle fluids market size is anticipated to reach USD 4,028.7 million by 2030, registering a CAGR of 28.6% from 2024 to 2030, according to a new report by Grand View Research, Inc. The growth is majorly attributed to the increasing adoption of EVs worldwide. As more consumers shift toward EVs due to environmental concerns, government incentives, and advancements in EV technology, the demand for specialized fluids to maintain and optimize EVs' performance grows proportionally. Ongoing R&D efforts are leading to technological advancements in EV fluid formulations. Manufacturers are continually innovating to develop fluids with superior properties, such as higher thermal conductivity, improved lubrication, and enhanced compatibility with EV components.
The expansion of charging infrastructure for EVs is also contributing to industry growth. With a more extensive network of charging stations, the adoption of EVs is likely to accelerate, leading to increased demand for EV fluids for maintenance and servicing purposes. The global product market displays a moderate level of fragmentation, characterized by the presence of numerous small- and large-scale players. This competitive landscape encourages firms to adopt various strategies, such as product differentiation, mergers, acquisitions, and R&D to gain a competitive edge. For example, in August 2022, Shell Lubricants launched heat transfer fluids specifically designed for the unique climates and geographies of India, tailored for use in EV motors.
Asia Pacific was the dominant regional market in 2023 and accounted for a revenue share of 45.30%, which is attributed to the increased product demand from countries like China and India. China's EV market is experiencing rapid growth, as reported by the China Association of Automobile Manufacturers. In December 2022, the production of New Energy Vehicles in China increased by 96.9% compared to the previous year. Furthermore, in 2023, the country saw EV sales reach 8.0 million units, marking a significant 33% increase over the previous year's sales, according to the International Energy Agency. Consequently, the growing electric vehicle market is anticipated to drive up the demand for EV fluids in China.
Electric Vehicle Fluids Market Report Highlights:
- The engine oil segment dominated the market with the highest revenue share of 55.0% in 2023 owing to the increasing number of vehicles on the road
- Engine oil is classified under two main headers, which include viscosity-based (Society of Automotive Engineers) classification and performance-based (European Automobile Manufacturers' Association and American Petroleum Institute) classification
- Coolant fluids play a crucial role in regulating the temperature of electric drivetrains and battery systems, which are prone to heat generation during operation
- The Hybrid Electric Vehicles (HEVs)/Plug-in Hybrid Electric Vehicles (PHEVs) segment dominated the market with the highest revenue share of 74.6% in 2023
- The growth of this segment can be attributed to the rising use of vehicle fluids in HEVs and PHEVs as compared to battery EVs
Product Code: GVR-4-68040-257-0
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Sources & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. Data Validation & Publishing
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segment Snapshot
- 2.3. Competitive Landscape Snapshot
Chapter 3. Electric Vehicle Fluids Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Global Electric Vehicle Market Outlook
- 3.2. Industry Value Chain Analysis
- 3.2.1. Manufacturing/ Technology Trends
- 3.2.2. Sales Channel Analysis
- 3.2.3. List of Potential End-Users
- 3.3. Regulatory Framework, By Regions
- 3.4. Price Trend Analysis, 2018 - 2030
- 3.4.1. Factors Influencing Prices
- 3.5. Market Dynamics
- 3.5.1. Market Driver Analysis
- 3.5.2. Market Restraint Analysis
- 3.5.3. Industry Challenges
- 3.5.4. Industry Opportunities
- 3.6. Industry Analysis Tools
- 3.6.1. Porter's Five Forces Analysis
- 3.6.2. Macro-environmental Analysis
Chapter 4. Electric Vehicle Fluids Market: Product Estimates & Trend Analysis
- 4.1. Product Movement Analysis & Market Share, 2023 & 2030
- 4.2. Engine Oil
- 4.2.1. Electric Vehicle Fluids Market Estimates & Forecast, by Engine Oil, 2018 to 2030 (USD Million) (Kilotons)
- 4.3. Coolant
- 4.3.1. Electric Vehicle Fluids Market Estimates and Forecasts, By Coolant, 2018 - 2030 (USD Million) (Kilotons)
- 4.4. Transmission Fluids
- 4.4.1. Electric Vehicle Fluids Market Estimates and Forecasts, By Transmission fluids, 2018 - 2030 (USD Million) (Kilotons)
- 4.5. Greases
- 4.5.1. Electric Vehicle Fluids Market Estimates and Forecasts, By Greases, 2018 - 2030 (USD Million) (Kilotons)
Chapter 5. Electric Vehicle Fluids Market: Propulsion Type Estimates & Trend Analysis
- 5.1. Propulsion Type Movement Analysis & Market Share, 2023 & 2030
- 5.2. Battery Electric Vehicle (BEV's)
- 5.2.1. Battery Electric Vehicle (BEV's) Fluids Market Estimates & Forecast, 2018 - 2030 (USD Million) (Kilotons)
- 5.3. Hybrid Electric Vehicle (HEV's)/ Plug-in Hybrid Electric Vehicle (PHEV's)
- 5.3.1. Hybrid Electric Vehicle (HEV's) Fluids Market Estimates and Forecasts, 2018 - 2030 (USD Million) (Kilotons)
Chapter 6. Electric Vehicle Fluids Market: Vehicle Type Estimates & Trend Analysis
- 6.1. Vehicle Type Movement Analysis & Market Share, 2023 & 2030
- 6.2. Passenger E-Vehicle
- 6.2.1. Electric Vehicle Fluids Market Estimates & Forecast, by Passenger E-Vehicle 2018 to 2030 (USD Million) (Kilotons)
- 6.3. Commercial E-Vehicle
- 6.3.1. Electric Vehicle Fluids Market Estimates & Forecast, in Commercial E-Vehicle 2018 - 2030 (USD Million) (Kilotons)
Chapter 7. Electric Vehicle Fluids Market: Regional Estimates & Trend Analysis
- 7.1. Regional Movement Analysis & Market Share, 2023 & 2030
- 7.2. North America
- 7.2.1. North America Electric Vehicle Fluids Market Estimates & Forecast, 2018 - 2030 (USD Million) (Kilotons)
- 7.2.2. U.S.
- 7.2.2.1. Key country dynamics
- 7.2.2.2. U.S. Electric Vehicle Fluids Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 7.2.3. Canada
- 7.2.3.1. Key country dynamics
- 7.2.3.2. Canada Electric Vehicle Fluids Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 7.2.4. Mexico
- 7.2.4.1. Key country dynamics
- 7.2.4.2. Mexico Electric Vehicle Fluids Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 7.3. Europe
- 7.3.1. Europe Electric Vehicle Fluids Estimates & Forecast, 2018 - 2030 (USD Million) (Kilotons)
- 7.3.2. Germany
- 7.3.2.1. Key country dynamics
- 7.3.2.2. Germany Electric Vehicle Fluids Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 7.3.3. UK
- 7.3.3.1. Key country dynamics
- 7.3.3.2. UK Electric Vehicle Fluids Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 7.3.4. France
- 7.3.4.1. Key country dynamics
- 7.3.4.2. France Electric Vehicle Fluids Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 7.3.5. Italy
- 7.3.5.1. Key country dynamics
- 7.3.5.2. Italy Electric Vehicle Fluids Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 7.3.6. Spain
- 7.3.6.1. Key country dynamics
- 7.3.6.2. Spain Electric Vehicle Fluids Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 7.4. Asia Pacific
- 7.4.1. Asia Pacific Electric Vehicle Fluids Market Estimates & Forecast, 2018 - 2030 (USD Million) (Kilotons)
- 7.4.2. China
- 7.4.2.1. Key country dynamics
- 7.4.2.2. China Electric Vehicle Fluids Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 7.4.3. India
- 7.4.3.1. Key country dynamics
- 7.4.3.2. India Electric Vehicle Fluids Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 7.4.4. Japan
- 7.4.4.1. Key country dynamics
- 7.4.4.2. Japan Electric Vehicle Fluids Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 7.4.5. South Korea
- 7.4.5.1. Key country dynamics
- 7.4.5.2. South Korea Electric Vehicle Fluids Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 7.5. Central & South America
- 7.5.1. Central & South America Electric Vehicle Fluids Market Estimates & Forecast, 2018 - 2030 (USD Million) (Kilotons)
- 7.5.2. Brazil
- 7.5.2.1. Key country dynamics
- 7.5.2.2. Brazil Electric Vehicle Fluids Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 7.5.3. Argentina
- 7.5.3.1. Key country dynamics
- 7.5.3.2. Argentina Electric Vehicle Fluids Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 7.6. Middle East & Africa
- 7.6.1. Middles East & Africa Electric Vehicle Fluids Market Estimates & Forecast, 2018 - 2030 (USD Million) (Kilotons)
- 7.6.2. Saudi Arabia
- 7.6.2.1. Key country dynamics
- 7.6.2.2. Saudi Arabia Electric Vehicle Fluids Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
- 7.6.3. South Africa
- 7.6.3.1. Key country dynamics
- 7.6.3.2. South Africa Electric Vehicle Fluids Market estimates & forecast, 2018 - 2030 (USD Million) (Kilotons)
Chapter 8. Electric Vehicle Fluids Market - Competitive Landscape
- 8.1. Recent Developments & Impact Analysis, By Key Market Participants
- 8.2. Company Categorization
- 8.3. Company Market Share/Position Analysis, 2023
- 8.4. Company Heat Map Analysis
- 8.5. Strategy Mapping
- 8.6. Company Profiles
- 8.6.1. Exxon Mobil Corporation
- 8.6.1.1. Participant's overview
- 8.6.1.2. Financial performance
- 8.6.1.3. Product benchmarking
- 8.6.1.4. Recent developments
- 8.6.2. BP p.l.c.
- 8.6.2.1. Participant's overview
- 8.6.2.2. Financial performance
- 8.6.2.3. Product benchmarking
- 8.6.2.4. Recent developments
- 8.6.3. Shell plc
- 8.6.3.1. Participant's overview
- 8.6.3.2. Financial performance
- 8.6.3.3. Product benchmarking
- 8.6.3.4. Recent developments
- 8.6.4. FUCHS
- 8.6.4.1. Participant's overview
- 8.6.4.2. Financial performance
- 8.6.4.3. Product benchmarking
- 8.6.4.4. Recent developments
- 8.6.5. TotalEnergies
- 8.6.5.1. Participant's overview
- 8.6.5.2. Financial performance
- 8.6.5.3. Product benchmarking
- 8.6.5.4. Recent developments
- 8.6.6. Petroliam Nasional Berhad (PETRONAS)
- 8.6.6.1. Participant's overview
- 8.6.6.2. Financial performance
- 8.6.6.3. Product benchmarking
- 8.6.6.4. Recent developments
- 8.6.7. Saudi Arabian Oil Co.
- 8.6.7.1. Participant's overview
- 8.6.7.2. Financial performance
- 8.6.7.3. Product benchmarking
- 8.6.7.4. Recent developments
- 8.6.8. Repsol
- 8.6.8.1. Participant's overview
- 8.6.8.2. Financial performance
- 8.6.8.3. Product benchmarking
- 8.6.8.4. Recent developments
- 8.6.9. ENEOS Corporation
- 8.6.9.1. Participant's overview
- 8.6.9.2. Financial performance
- 8.6.9.3. Product benchmarking
- 8.6.9.4. Recent developments
- 8.6.10. Gulf Oil International Ltd
- 8.6.10.1. Participant's overview
- 8.6.10.2. Financial performance
- 8.6.10.3. Product benchmarking
- 8.6.10.4. Recent developments
- 8.6.1. Exxon Mobil Corporation
Product Code: GVR-4-68040-257-0
List of Tables
- Table 1. List of Potential End-Users
- Table 2. Regulatory Framework, by Regions
- Table 3. U.S. Macroeconomic Outlay
- Table 4. Canada Macroeconomic Outlay
- Table 5. Mexico Macroeconomic Outlay
- Table 6. Germany Macroeconomic Outlay
- Table 7. UK Macroeconomic Outlay
- Table 8. France Macroeconomic Outlay
- Table 9. Italy Macroeconomic Outlay
- Table 10. Spain Macroeconomic Outlay
- Table 11. China Macroeconomic Outlay
- Table 12. India Macroeconomic Outlay
- Table 13. Japan Macroeconomic Outlay
- Table 14. South Korea Macroeconomic Outlay
- Table 15. Brazil Macroeconomic Outlay
- Table 16. Argentina Macroeconomic Outlay
- Table 17. Saudi Arabia Macroeconomic Outlay
- Table 18. South Africa Macroeconomic Outlay
- Table 19. Participant's Overview
- Table 20. Financial Performance
- Table 21. Product Benchmarking
- Table 22. Company Heat Map Analysis
- Table 23. Key Strategy Mapping
List of Figures
- Fig. 1 Electric Vehicle Fluids Market Segmentation
- Fig. 2 Information Procurement
- Fig. 3 Data Analysis Models
- Fig. 4 Market Formulation and Validation
- Fig. 5 Data Validating & Publishing
- Fig. 6 Electric Vehicle Fluids Market Snapshot
- Fig. 7 Electric Vehicle Fluids Market Segmental Outlook, 2023 (USD Million)
- Fig. 8 Electric Vehicle Fluids Market: Competitive Insights
- Fig. 9 Global Electric Vehicle Fluids Market, 2023 (USD Million) (Kilotons)
- Fig. 10 Global Electric Vehicle Fluids Market Value Chain Analysis
- Fig. 11 Electric Vehicle Fluids Market Dynamics
- Fig. 12 Electric Vehicle Fluids Market: Porter's Analysis
- Fig. 13 Electric Vehicle Fluids Market: Pestel Analysis
- Fig. 14 Electric Vehicle Fluids Market Analysis & Segment Forecast, By Product, 2018 - 2030 (USD Million) (Kilotons)
- Fig. 15 Electric Vehicle Fluids Market Analysis & Segment Forecast, By Engine Oil 2018 - 2030 (USD Million) (Kilotons)
- Fig. 16 Electric Vehicle Fluids Market Analysis & Segment Forecast, By Coolant, 2018 - 2030 (USD Million) (Kilotons)
- Fig. 17 Electric Vehicle Fluids Market Analysis & Segment Forecast, By Transmission fluids, 2018 - 2030 (USD Million) (Kilotons)
- Fig. 18 Electric Vehicle Fluids Market Analysis & Segment Forecast, By Greases, 2018 - 2030 (USD Million) (Kilotons)
- Fig. 19 Electric Vehicle Fluids Market Analysis & Segment Forecast, By Propulsion Type, 2018 - 2030 (USD Million) (Kilotons)
- Fig. 20 Battery Electric Vehicle (BEV's) Fluids Market Analysis & Segment Forecast, 2018 - 2030 (USD Million) (Kilotons)
- Fig. 21 Hybrid Electric Vehicle (HEV's) Fluids Market Analysis & Segment Forecast, 2018 - 2030 (USD Million) (Kilotons)
- Fig. 22 Electric Vehicle Fluids Market Analysis & Segment Forecast, By Vehicle Type, 2018 - 2030 (USD Million) (Kilotons)
- Fig. 23 Electric Vehicle Fluids Market Analysis & Segment Forecast, in Passenger E-Vehicle, 2018 - 2030 (USD Million) (Kilotons)
- Fig. 24 Electric Vehicle Fluids Market Analysis & Segment Forecast, in Commercial E-Vehicle, 2018 - 2030 (USD Million) (Kilotons)
- Fig. 25 Electric Vehicle Fluids Market, By Region, 2023 & 2030 (%)
- Fig. 26 North America Electric Vehicle Fluids Market Analysis & Segment Forecast, 2018 - 2030 (USD Million) (Kilotons)
- Fig. 27 U.S. Electric Vehicle Fluids Market Analysis & Segment Forecast, 2018 - 2030 (USD Million) (Kilotons)
- Fig. 28 Canada Electric Vehicle Fluids Market Analysis & Segment Forecast, 2018 - 2030 (USD Million) (Kilotons)
- Fig. 29 Mexico Electric Vehicle Fluids Market Analysis & Segment Forecast, 2018 - 2030 (USD Million) (Kilotons)
- Fig. 30 Europe Electric Vehicle Fluids Market Analysis & Segment Forecast, 2018 - 2030 (USD Million) (Kilotons)
- Fig. 31 Germany Electric Vehicle Fluids Market Analysis & Segment Forecast, 2018 - 2030 (USD Million) (Kilotons)
- Fig. 32 UK Electric Vehicle Fluids Market Analysis & Segment Forecast, 2018 - 2030 (USD Million) (Kilotons)
- Fig. 33 France Electric Vehicle Fluids Market Analysis & Segment Forecast, 2018 - 2030 (USD Million) (Kilotons)
- Fig. 34 Italy Electric Vehicle Fluids Market Analysis & Segment Forecast, 2018 - 2030 (USD Million) (Kilotons)
- Fig. 35 Spain Electric Vehicle Fluids Market Analysis & Segment Forecast, 2018 - 2030 (USD Million) (Kilotons)
- Fig. 36 Asia Pacific Electric Vehicle Fluids Market Analysis & Segment Forecast, 2018 - 2030 (USD Million) (Kilotons)
- Fig. 37 China Electric Vehicle Fluids Market Analysis & Segment Forecast, 2018 - 2030 (USD Million) (Kilotons)
- Fig. 38 India Electric Vehicle Fluids Market Analysis & Segment Forecast, 2018 - 2030 (USD Million) (Kilotons)
- Fig. 39 Japan Electric Vehicle Fluids Market Analysis & Segment Forecast, 2018 - 2030 (USD Million) (Kilotons)
- Fig. 40 South Korea Electric Vehicle Fluids Market Analysis & Segment Forecast, 2018 - 2030 (USD Million) (Kilotons)
- Fig. 41 Central & South America Electric Vehicle Fluids Market Analysis & Segment Forecast, 2018 - 2030 (USD Million) (Kilotons)
- Fig. 42 Brazil Electric Vehicle Fluids Market Analysis & Segment Forecast, 2018 - 2030 (USD Million) (Kilotons)
- Fig. 43 Argentina Electric Vehicle Fluids Market Analysis & Segment Forecast, 2018 - 2030 (USD Million) (Kilotons)
- Fig. 44 Middle East & Africa Electric Vehicle Fluids Market Analysis & Segment Forecast, 2018 - 2030 (USD Million) (Kilotons)
- Fig. 45 Saudi Arabia Electric Vehicle Fluids Market Analysis & Segment Forecast, 2018 - 2030 (USD Million) (Kilotons)
- Fig. 46 South Africa Electric Vehicle Fluids Market Analysis & Segment Forecast, 2018 - 2030 (USD Million) (Kilotons)
- Fig. 47 Electric Vehicle Fluids Market: Company Categorization
- Fig. 48 Electric Vehicle Fluids Market: Company Market Share Analysis
- Fig. 49 Electric Vehicle Fluids Market: Company Market Positioning Analysis
Have a question?
SELECT AN OPTION
Have a question?
Questions? Please give us a call or visit the contact form.