Electric Vehicle Fluids Global Market Report 2022: Sector to Grow by 21.9% Annually Through 2028 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Electric Vehicle Fluids Market 2022-2028" report has been added to ResearchAndMarkets.com's offering.

The global electric vehicle fluids market is anticipated to grow at a substantial CAGR of 21.9% during the forecast period. One of the major factors that are fueling the market growing awareness and importance of fluids in the functioning of vehicles.

Every vehicle requires a specific number of minimum fluids such as engine oil, lubricants, coolants, and others for proper functioning of the vehicle. Without these fluids, a vehicle cannot perform smoothly. Thus, with the rising demand for electric vehicles (EVs), the demand for EV fluids have also been increased significantly.

For instance, in June 2021, Kixx, a brand of GS Caltex, launched a Kixx EV Fluid, a new brand of advanced fluids designed specifically for EVs to fulfill the demands of these cutting-edge EV. Kixx EV Fluid offers a range of products that includes both e-transmission fluid and e-thermal fluid designed to improve operational efficiency and protect essential components.

The global electric vehicle fluids market is segmented based on the product type, fill type, vehicle type, and propulsion type. Based on the product type, the market is segmented into the engine oil, coolants, transmission fluids, and greases.

Based on the fill type, the market is sub-segmented into the first fill, and service fills.

Based on the vehicle type, the market is sub-segmented into passenger vehicles and commercial vehicles. Based on the propulsion type, the market is segmented into a hybrid electric vehicle, fuel cell electric vehicle, and battery electric vehicle. The above-mentioned segments can be customized as per the requirements.

Among the propulsion type segment, the Hybrid Electric Vehicles (HEV) segment is expected to hold prominent market share of the electric fluid market compared to other sub-segments. HEVs have a higher requirement for fluids owing to the presence of a combustion engine along with a battery system.

Electric vehicles have three main fluids that includes windscreen washer fluid, coolant fluid, and brake fluid. However, HEV requires more transmission fluid that needs to be changed regularly, which may restrain growth of the market.

Geographically market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Europe is anticipated to hold prominent market share of the electric vehicle fluid market, due to the presence of key automotive players across the nations such as Germany, UK, and others. As per the data released by the International Energy Agency (IEA) 2020, Europe has 3.2 million units of EV cars stock while the US has 1.7 million EV cars stock.

Market Segmentation

• Global Electric Vehicle Fluids Market Research and Analysis by Product Type.
• Global Electric Vehicle Fluids Market Research and Analysis by Fill Type.
• Global Electric Vehicle Fluids Market Research and Analysis by Vehicle Type.
• Global Electric Vehicle Fluids Market Research and Analysis by Propulsion Type.

The Report Covers

• Comprehensive research methodology of the global electric vehicle fluids market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the global electric vehicle fluids market.
• Insights about market determinants that are stimulating the global electric vehicle fluids market.
• Detailed and extensive market segments with the regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.

Key Topics Covered:

1. Report Summary

2. Market Overview and Insights

3. Competitive Landscape

4. Market Segmentation

5. Regional Analysis

6. Company Profiles

Companies Mentioned

• The 3M Co.
• Afton Chemical Corp.
• Dober
• Eneos Corp.
• Engineered Fluids, Inc.
• Fuchs Petrolub Se
• Infineum International Ltd.
• Klueber Lubrication Muenchen Kg
• M&I Materials Ltd.
• Motul S.A.
• Panolin AG
• Petronas Lubricants International (Pli)
• Ptt Public Company Ltd. (Ptt)
• Repsol Group
• The Lubrizol Corp.

For more information about this report visit https://www.researchandmarkets.com/r/iew6uw