June 22, 2022 07:53 ET | Source: Research and Markets Research and Markets
Dublin, June 22, 2022 (GLOBE NEWSWIRE) -- The "Fluids and Lubricants Market for Electric Vehicles - A Global and Regional Analysis: Focus on Product Types and Their Applications, Vehicle Type, Propulsion Type, Distribution Channel, and Countries - Analysis and Forecast, 2022-2031" report has been added to ResearchAndMarkets.com's offering.
The fluids and lubricants market for electric vehicles was estimated to be at $1,387.7 million in 2021, which is expected to grow with a CAGR of 28.81% and reach $17,412.9 million by 2031. The growth in the fluids and lubricants market for electric vehicles is expected to be driven by increasing sales of electric vehicles around the world.
The fluids and lubricants market for electric vehicles is at an early stage and is growing swiftly. Ongoing research and development activities in manufacturing efficient, anti-wear, and optimal temperature fluids are expected to boost key market development activities.
The fluids and lubricants market for electric vehicles is in the growth phase. A growing fleet of electric vehicles (EVs) is consuming more and more EV fluids. As a result, the fluids and lubricants market for electric vehicles is expected to flourish in the forecast period 2022-2031.
The COVID-19 pandemic impact on the fluids and lubricants market for electric vehicles has been negligible. Despite the pandemic, there was a slight increase in electric vehicle fluids and lubricants consumption. COVID-19 has enhanced awareness of the environment. Because of this, more and more people are planning to purchase sustainable vehicles. This will propel the fluids and lubricants market for electric vehicles.
Recent Developments in Fluids and Lubricants Market for Electric Vehicles
Demand - Drivers and Limitations
Following are the demand drivers for the fluids and lubricants market for electric vehicles:
The market is expected to face some limitations too due to the following challenges:
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.
Public companies are leading in the fluids and lubricants market for electric vehicles. For base year 2021, Private companies in the market capture around 5% of the market share, whereas public companies in the market capture around 95% of the market share in the global fluids and lubricants market for electric vehicles.
Some of the prominent names established in this market are:
1 Markets 1.1 Industry Outlook 1.1.1 Trends: Current and Future 1.1.2 Supply Chain Network/MAP 1.1.3 Industry Attractiveness 1.1.3.1 Threat of New Entrants (Low-Moderate) 1.1.3.2 Bargaining Power of Buyers (Low-Moderate) 1.1.3.3 Bargaining Power of Suppliers (High) 1.1.3.4 Threat of Substitutes (Low) 1.1.3.5 Intensity of Competitive Rivalry (Moderate-High) 1.1.4 Supply and Demand Analysis 1.1.5 Profit Margin Analysis 1.1.6 Additives for Fluids in Electric Vehicle Batteries 1.1.7 Ecosystem/Ongoing Programs 1.1.7.1 Consortiums, Associations, and Regulatory Bodies 1.1.7.2 Government Programs and Initiatives 1.1.7.3 Programs by Research Institutions and Universities 1.2 Business Dynamics 1.2.1 Business Drivers 1.2.1.1 Need for Corrosion Resistant Solutions in the Electric Vehicle Batteries 1.2.1.2 Increasing Demand to Further Extend the Range of the Electric Vehicles 1.2.1.3 Rapid Adoption of Immersive Cooling for the Electric Vehicle Batteries 1.2.1.4 Improved Durability of Powertrain in Electric Vehicles 1.2.1.5 Increasing Demand for High-Performance Grease in HEVs 1.2.1.6 Growing Need for Enhanced Electrification Components 1.2.2 Business Challenges 1.2.2.1 Higher Cost of EV Fluids 1.2.2.2 Energy Efficiency Challenges 1.2.2.3 Developing Environment-Friendly Electric Vehicle Fluids 1.2.2.4 Lack of Optimized EV/HEV Performance for Improving Thermal Conductivity 1.2.3 Business Strategies 1.2.3.1 Product Developments 1.2.3.2 Market Developments 1.2.4 Corporate Strategies 1.2.4.1 Mergers and Acquisitions 1.2.4.2 Partnerships and Joint Ventures 1.2.5 Business Opportunities 1.2.5.1 Coolants for EV Electronics and Charging Port Cables 1.2.5.2 Growing Trend for Development of Autonomous Vehicles 1.2.5.3 Stringent Regulations by Government Bodies for Sustainable EV Environment
2 Application 2.1 Global Fluids and Lubricants Market for Electric Vehicles - Demand Analysis (By Application) 2.1.1 Demand Analysis (by Vehicle Type), Value and Volume Data, 2021-2031 2.1.1.1 Passenger Vehicles 2.1.1.2 Light Commercial Vehicles 2.1.1.3 Heavy Commercial Vehicles 2.1.2 Demand Analysis (by Propulsion Type), Value, and Volume Data, 2021-2031 2.1.2.1 Battery Electric Vehicles (BEVs) 2.1.2.2 Hybrid Electric Vehicles (HEVs) 2.1.2.3 Plug-In Hybrid Electric Vehicles (PHEVs) 2.2 Comparative Analysis of Fluids and Lubricants Applications in Electric Vehicles 2.2.1 Applications for Fluids: IC Engine Vehicle vs. HEV vs. PHEV vs. BEV 2.2.2 Emerging New Application Areas Owing to Electric Vehicle Adoption 2.2.3 Analyst Viewpoint on Market Cannibalization
3 Products 3.1 Global Fluids and Lubricants Market for Electric Vehicles - Products and Specifications 3.1.1 Thermal Fluids 3.1.1.1 Dielectric Fluids 3.1.2 Drive System Fluids 3.1.3 Brake Fluids 3.1.4 Grease 3.2 Global Fluids and Lubricants Market for Electric Vehicles - Demand Analysis (by Product) 3.2.1 Demand Analysis (by Product Type (by Application)), Value and Volume Data, 2021-2031 3.2.1.1 Grease 3.2.1.1.1 E-Motors 3.2.1.1.2 Bearings 3.2.1.1.3 Constant Velocity Joints (CV Joints) 3.2.1.1.4 Others 3.2.1.2 Thermal Fluids 3.2.1.2.1 Batteries 3.2.1.2.1.1 By Technology 3.2.1.2.1.1.1 Immersion Cooling 3.2.1.2.1.1.2 Liquid Piped Cooling 3.2.1.2.2 E-Motors 3.2.1.2.3 Power Electronics 3.2.1.2.4 Others 3.2.1.3 Drive System Fluids 3.2.1.3.1 Gears 3.2.1.3.2 E-motors 3.2.1.3.3 Others 3.2.1.4 Brake Fluids 3.2.2 Demand Analysis (by Distribution Channel), Value, and Volume Data, 2021-2031 3.2.2.1 OEMs 3.2.2.2 Aftermarket 3.3 Product Benchmarking: Growth Rate - Market Share Matrix 3.3.1 Opportunity Matrix (by Region) 3.3.2 Opportunity Matrix (by Product Type) 3.3.3 Opportunity Matrix, by Distribution Channel 3.4 Patent Analysis 3.5 Global Pricing Analysis 3.6 Technology Roadmap
5 Markets - Competitive Benchmarking & Company Profiles 5.1 Competitive Benchmarking 5.2 Product Matrix 5.3 Company Profiles 5.3.1 Type 1 Companies (by Product Offerings): Private Companies 5.3.1.1 Afton Chemicals 5.3.1.1.1 Company Overview 5.3.1.1.2 Role of Afton Chemicals in Fluids and Lubricants Market for Electric Vehicles 5.3.1.1.3 Product Portfolio 5.3.1.1.4 Production Sites and R&D Analysis 5.3.1.1.5 Business Strategies 5.3.1.1.6 Strengths of the Company 5.3.1.1.7 Analyst View for Afton Chemicals 5.3.1.2 Engineered Fluids 5.3.1.3 Dober 5.3.1.4 Infineum International Limited 5.3.1.5 Kluber Lubrication 5.3.1.6 M&I Materials Limited 5.3.1.7 Panolin AG 5.3.2 Type 2 Companies (by Product Offerings): Public Companies 5.3.2.1 CASTROL Limited 5.3.2.2 3M 5.3.2.3 Motul 5.3.2.4 Electrolube 5.3.2.5 Exxon Mobil Corporation 5.3.2.6 The Lubrizol Corporation 5.3.2.7 Petronas 5.3.2.8 PolySi Technologies Inc. 5.3.2.9 Shell plc 5.3.2.10 TotalEnergies SE 5.3.2.11 Valvoline Inc. 5.3.2.12 FUCHS 5.4 Other Key Companies
For more information about this report visit https://www.researchandmarkets.com/r/j93ehv