Global Electric Vehicle Fluids Market Outlook, Opportunities And Strategies
Learn about the global electric vehicle fluids market through The Business Research Company, which provides information on electric vehicle fluids market size, electric vehicle fluids market drivers and restraints, electric vehicle fluids market players, the COVID-19 impact on the electric vehicle fluids market, and more.
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The global electric vehicle fluids market size is expected to grow from $1.04 billion in 2021 to $1.32 billion in 2022 at a compound annual growth rate (CAGR) of 27.1%. The change in the electric vehicle fluids market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic. The EV fluids market is expected to reach $3.39 billion in 2026 at a CAGR of 26.5%.
Increasing demand for electric vehicles is expected to drive innovation in electric vehicle fluids manufacturing, thus driving the market during the forecast period.
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The electric vehicle fluids market consists of sales of electric vehicle fluids by entities (organizations, sole traders, and partnerships) that aid in the reduction of energy losses in the drivetrain system and the enhancement of EV Transmission efficiency. Electric vehicle fluids offer insulation to stop any arcing due to close contact with the electrical components of the vehicle. They help in cooling e-motors and gears and provide insulation to electric current, along with extending the lifetime of each electric motor part, and the mileage of EVs by improving machine efficiency.
Global Electric Vehicle Fluids Market Segments Include:
By Product Type: Engine Oil, Coolants, Transmission Fluids, Greases
By Vehicle Type: Passenger Vehicle, Commercial Vehicle
By EV Type: BEV, PHEV, HEV
By Application: Driveline, Battery Coolant, Grease
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Europe was the largest region in the electric vehicles fluids market in 2021.
Increasing research and development is shaping the electric vehicle fluids market. Research and development in the market are done for the development, introduction, and optimization of products and processes.
TBRC’s electric vehicle fluids market report covers:
Major Market Players: Castrol Limited, ExxonMobil Corporation, FUCHS Lubricants, Lubrizol Corporation, Petronas Nasional Bhd, Royal Dutch Shell plc, Gulf Oil, BP plc, ENEOS Corporation, PTT Public Company Limited, Repsol S.A, TotalEnergies SE, Valvoline Inc, and Shell.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)
The Electric Vehicle Fluids Global Market Report 2021: Market Size, Trends, And Global Forecast 2022 – 2026 is one of a series of new reports from The Business Research Company that provides electric vehicle fluids market overviews, analyses and forecasts market size, share, electric vehicle fluids market players, electric vehicle fluids market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s electric vehicle fluids market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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