Surging Electric Vehicle Demand Fueling Growth Of Electric Vehicle Fluids Market: A Significant Driver Propelling The Electric Vehicle Fluids Market In 2025

The Electric Vehicle Fluids Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Electric Vehicle Fluids Market Size and Projected Growth Rate?
The marketplace for electric vehicle fluids has expanded rapidly in the past few years. The market, valued at $2.19 billion in 2024, is projected to reach $2.81 billion in 2025, representing a compound annual growth rate (CAGR) of 28.3%. The noteworthy growth during the historic period is due to factors such as the increased adoption and sales of electric vehicles (ev), encouragement and regulations from the government, concerns about the environment and targets for reducing emissions, consumer preference for easy charging solutions, and significant investments in evs by the automotive sector.

The market size for electric vehicle fluids is set to experience massive growth in the coming years. It's estimated to reach $8.07 billion by 2029 with a compound annual growth rate (CAGR) of 30.2%. The expansion in the predicted period is due to the ever-increasing ev charging networks, standardisation of charging connectors, growth in international markets, global adoption of ev, and the rise in both public and private charging stations. Upcoming advancements in this timeframe involve the manufacturing of specific EV fluids, environmentally friendly and biodegradable solutions, partnerships with original equipment manufacturers (OEMs), improvements in thermal management, and fluid monitoring and upkeep.

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What Are the Major Segments in the Electric Vehicle Fluids Market?
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

Subsegments:
1) By Engine Oil: Fully Synthetic Engine Oil, Semi-Synthetic Engine Oil, Mineral Engine Oil, Low-Viscosity Engine Oil
2) By Coolants: Ethylene Glycol-based Coolants, Propylene Glycol-based Coolants, Organic Acid Technology (OAT) Coolants, Hybrid Organic Acid Technology (HOAT) Coolants
3) By Transmission Fluids: Automatic Transmission Fluids (ATF), Manual Transmission Fluids, Continuously Variable Transmission (CVT) Fluids
4) By Greases: Lithium-based Greases, Calcium-based Greases, Synthetic Greases, Biodegradable Greases

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What Are The Driving Electric Vehicle Fluids Market Evolution?
The escalating demand for electric vehicles is anticipated to fuel the expansion of the electric vehicle fluids market. Electric vehicles (EVs), which are either entirely or partially powered by electricity and store the electric power needed for motor operation in a battery pack, are perceived as the main propellant of this increasing demand. Fluids in these vehicles are critical components that improve fuel efficiency and facilitate the reduction of carbon footprints, thereby, making them essential as electric vehicle production and sales grow. For example, Bloomberg New Energy Finance (BNEF) predicts that EVs will make up 10% of worldwide passenger vehicle sales by 2025, ascend to 28% by 2030 and escalate to 58% by 2040. Consequently, the surging demand for electric vehicles is projected to stimulate the expansion of the electric vehicle fluids market.

Which Firms Dominate The Electric Vehicle Fluids Market Segments?
Major companies operating in the electric vehicle fluids market include Castrol Limited, ExxonMobil Corporation, Fuchs Petrolub SE, The 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, Petro-Canada Lubricants Inc., Phillips 66 Company, Quaker Chemical Corporation, Sinopec Lubricant Company Limited, SK Lubricants Co. Ltd., Total Lubrifiants SA, Amalie Oil Company, AMSOIL INC., Bardahl Manufacturing Corporation, CHS INC., Chemtool Incorporated, Eni S.p.A., Houghton International Inc., JXTG Nippon Oil & Energy Corporation, Lubrication Engineers Inc.

What Trends Are Expected to Dominate the Electric Vehicle Fluids Market in the Next 5 Years?
Leading entities in the electric vehicle fluids market are concentrating their efforts on creating inventive solutions like performance fluids to augment the effectiveness and lifespan of electric vehicle parts. Performance fluids are unique lubricants, coolants, and additional liquids crafted to improve the efficiency, durability, and overall performance of mechanical and electrical systems in vehicles, particularly electric vehicles (EVs). Take for example, Valvoline Inc., a retail automotive services company from the US, which in January 2023, introduced its EV Performance Fluids, a distinct line of products engineered for electric vehicles (EVs). This recent lineup offers heat transfer fluids for maximum battery temperature control, drive system fluids for multi-speed transmissions, advanced brake fluids with high boiling points, and grease designed specifically for EV motors and seal bearings. Each product caters to unique problems encountered by EVs, covering aspects like temperature control, powertrain performance, and corrosion avoidance.

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Which Is The Largest Region In The Electric Vehicle Fluids Market?
Europe was the largest region in the electric vehicle fluids market in 2024. Asia-Pacific is expected to be the fastest-growing region in the electric vehicle fluids market during the forecast period. The regions covered in the electric vehicle fluids market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Electric Vehicle Fluids Market?
2. What is the CAGR expected in the Electric Vehicle Fluids Market?
3. What Are the Key Innovations Transforming the Electric Vehicle Fluids Industry?
4. Which Region Is Leading the Electric Vehicle Fluids Market?

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