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Electric Vehicle Fluids and Lubricants Market Forecast, Research Overview and Key Companies Analysis by 2028

September 1, 2021

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. The report provides detailed insights into Electric Vehicle Fluids and Lubricants market size, market trends, industry trends, consumer trends, market forecast, revenue share growth, along with ranging impacts of each driver on market size. It also provides analysis of various factors expected to restrain or limit potential growth in Electric Vehicle Fluids and Lubricants market size over the forecast period, 2020–2028. The report includes profiles of major players in the Electric Vehicle Fluids and Lubricants market, strategies being employed/deployed, mergers, acquisitions, recent developments, agreements, contracts, new product development and launches, segment revenue, investment details as well as financials. 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. However, high cost of electric vehicle fluids and lubricants is expected to hamper global electric vehicle fluids and lubricants market growth to a certain extent during the forecast period.

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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. Global Electric Vehicle Fluids and Lubricants market size expansion is significantly supported by contribution from major segments and increasing deployment in a range of applications. While conducting primary research, the researchers observed that the rapid growth of the Electric Vehicle Fluids and Lubricants Market through the forecast duration is driven by the niche and emerging opportunities for the producers engaged in the worldwide Electric Vehicle Fluids and Lubricants market. The worldwide Electric Vehicle Fluids and Lubricants market has been categorized as product, end-user, and major geographic regions.

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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)

Regional Outlook (Revenue, USD Million; 2018–2028)
- North America
  1. U.S.
  2. Canada
  3. Mexico
- Europe
  1. Germany
  2. U.K.
  3. France
  4. Italy
  5. Spain
  6. BENELUX
  7. Rest of Europe
- Asia Pacific
  1. China
  2. India
  3. Japan
  4. South Korea
  5. Rest of APAC
- Latin America
  1. Brazil
  2. Rest of LATAM
- Middle East & Africa
  1. Saudi Arabia
  2. UAE
  3. South Africa
  4. Turkey
  5. Rest of MEA

In terms of Electric Vehicle Fluids and Lubricants market share and revenue contribution to the global Electric Vehicle Fluids and Lubricants market, North America is expected to maintain its dominance over other regional markets over the forecast period. Presence of major companies in countries in the region is a key factor supporting rapid increase in Electric Vehicle Fluids and Lubricants market share.

The market intelligence report on the Electric Vehicle Fluids and Lubricants Industry also includes an extensive investigation of the competitive landscape. It assesses the business and marketing strategies expected to be present in the market through the forecast years. It also includes an investigation of the recent advancements and other factors driving the growth of the overall market to help comprehend the progress of the companies in the coming years.

Region wise performance of the Electric Vehicle Fluids and Lubricants industry

In terms of Electric Vehicle Fluids and Lubricants market size, North America is expected to remain dominant among the other regional markets over the forecast period. Presence of major companies in countries in the region is a key factor supporting Electric Vehicle Fluids and Lubricants market size growth.

Asia Pacific Electric Vehicle Fluids and Lubricants market size is expected to remain steady, and register fastest revenue growth rate between 2020 and 2028. Rapid revenue growth rate in countries such as China and India is attributable to rapid growth in Electric Vehicle Fluids and Lubricants market size in Asia Pacific, and the trend is expected to continue going ahead.

Continuous developments in countries in Europe is expected to support growth in regional market size over the forecast period.

Geographically, this report studies the key regions, focuses on product sales, value, market share and growth opportunity in these regions, covering:

United States
Europe
China
Japan
Southeast Asia
India

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Some Key Highlights in the Report

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.
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.
Key players in the market include 3M, Castrol, Royal Dutch Shell, Total Lubricants, Valvoline Inc., Motul, Fuchs Petrolub SE, Engineered Fluids Inc, Exxon Mobil Corporation, and Lubrizol Corporation.

The research provides answers to the following key questions:

What will be the growth rate and the market size of the Electric Vehicle Fluids and Lubricants industry for the forecast period 2020-2027?
What are the major driving forces expected to impact the development of the Electric Vehicle Fluids and Lubricants market across different regions?
Who are the major driving forces expected to decide the fate of the Electric Vehicle Fluids and Lubricants industry worldwide?
Who are the prominent market players making a mark in the Electric Vehicle Fluids and Lubricants market with their winning strategies?
Which Electric Vehicle Fluids and Lubricants industry trends are likely to shape the future of the industry during the forecast period 2020-2027?
What are the key barriers and threats believed to hinder the development of the industry?
What are the future opportunities in the Electric Vehicle Fluids and Lubricants market?

Table of Content

Chapter 1. Methodology & Sources

1.1. Electric Vehicle Fluids and Lubricants Market Definition

1.2. Research Scope

1.3. Methodology

1.4. Research Sources

1.4.1. Primary

1.4.2. Secondary

1.4.3. Paid Sources

1.5. Electric Vehicle Fluids and Lubricants Market Estimation Technique

Chapter 2. Executive Summary

2.1. Summary Snapshot, 2024-2028