The Electric Vehicle Fluids Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).


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According to The Business Research Company’s Electric Vehicle Fluids Global Market Report 2024, The electric vehicle fluids market size has grown exponentially in recent years. It will grow from $1.71 billion in 2023 to $2.2 billion in 2024 at a compound annual growth rate (CAGR) of 28.6%. The growth in the historic period can be attributed to electric vehicle (ev) adoption and sales growth, government incentives and regulations, environmental concerns and emissions reduction goals, consumer demand for convenient charging, and automotive industry investment in evs
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The electric vehicle fluids market size is expected to see exponential growth in the next few years. It will grow to $6.13 billion in 2028 at a compound annual growth rate (CAGR) of 29.2%. The growth in the forecast period can be attributed to expansion of ev charging networks, standardization of charging connectors, international market growth, global ev adoption, and growing public and private charging stations. Major trends in the forecast period include development of specialized ev fluids, biodegradable and eco-friendly formulations, collaboration with oems, thermal management, and fluid monitoring and maintenance.

An increase in demand for electric vehicles is expected to propel the growth of the electric vehicle fluids market. An electric vehicle (EV) is a vehicle that runs entirely or partially on electricity and stores the electrical energy that drives the motor in a battery pack. The increase in electric vehicle manufacturing and sales drives the demand for electric vehicle fluids because fluid is the key part of a vehicle that enhances fuel efficiency and helps reduce carbon footprints in vehicles. For instance, according to Bloomberg New Energy Finance (BNEF), EVs are expected to hit 10% of global passenger vehicle sales by 2025, rising to 28% in 2030 and 58% in 2040. Therefore, the increase in demand for electric vehicles is predicted to drive the growth of the electric vehicle fluids market.

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The electric vehicle fluids market covered in this report is segmented –

1) By Product Type: Engine oil, Coolants, Transmission fluids, Greases
2) By Vehicle Type: Passenger Vehicle, Commercial Vehicle
3) By EV Type: BEV, PHEV, HEV
4) By Application: Driveline, Battery Coolant, Grease

An Increase in research and development is shaping the electric vehicle fluids market. Research and development are done in the market for the development, introduction, and optimization of products and processes. For instance, in 2021, Gulf Oil, an India-based manufacturer of automobile lubricants and greases, launched a new range of e-fluids for hybrid and electric (EV) passenger cars. These e-fluids are formulated to enhance the performance and safety of the vehicle, along with other applications, including improving braking performance and preventing corrosion, while Elec coolant keeps electric vehicle batteries cool in high temperatures.

The electric vehicle fluids market report table of contents includes:
1. Executive Summary
2. Electric Vehicle Fluids Market Characteristics
3. Electric Vehicle Fluids Market Trends And Strategies
4. Electric Vehicle Fluids Market - Macro Economic Scenario
5. Global Electric Vehicle Fluids Market Size and Growth
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31. Global Electric Vehicle Fluids Market Competitive Benchmarking
32. Global Electric Vehicle Fluids Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Electric Vehicle Fluids Market
34. Electric Vehicle Fluids Market Future Outlook and Potential Analysis
35. Appendix


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