Electric Vehicle Fluids Market is Forecasted to Reach US$ 9.1 Billion in 2032, Says Stratview Research

The global electric vehicle fluids market is projected to witness a growth rate of 18.7% annually from 2024 to 2032, with an anticipated size of US$ 9.1 billion by 2032, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global electric vehicle fluids market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights:
Market Size in 2032: US$ 9.1 billion
Growth (CAGR): 18.7% during 2024-2032
Forecast Period: 2024-2032
Trend Period: 2018-2022
Base Year: 2023
Number of Segments Covered: 5
Number of Tables & Graphs: 100+

Segment Insights on the Electric Vehicle Fluids Market:

The global Electric Vehicle Fluids market is segmented based on Product type, Vehicle type, Propulsion type, Fill type, and Region.

Based on product type - The electric vehicle fluids market is segmented into engine oil, coolants, transmission fluids, and greases. Coolants are expected to remain the dominant product type in the market during the forecast period. Electric vehicles heavily rely on batteries for power, and effective thermal management is crucial for their performance and longevity. Coolants play a vital role in maintaining optimal battery temperatures, ensuring efficient operation, and prolonging battery life. Electric motors also generate heat during operation, and proper cooling is essential to prevent overheating and maintain performance. Coolants are utilized to dissipate heat from electric motors, thereby preserving their efficiency and reliability. Increasing regulations regarding emissions and vehicle efficiency drive the adoption of electric vehicles. Coolants aid in meeting these regulatory standards by facilitating the efficient operation of electric vehicle components, contributing to overall vehicle performance and compliance.

Based on vehicle type - The market is segmented into battery electric vehicles and hybrid electric vehicles. On-highway electric vehicles are expected to remain the dominant vehicle type in the market during the forecast period. On-highway electric vehicles, mainly electric passenger cars, are rapidly gaining popularity globally due to factors like government incentives, environmental awareness, and technological advancements. As the electric car market expands, the demand for electric vehicle fluids such as coolant, lubricants, and brake fluids will rise, solidifying the dominance of on-highway electric vehicles in the electric vehicle fluids market. Infrastructure development is key for electric vehicle adoption. Heavy investments in charging infrastructure by governments and private sectors, especially in urban and highway areas, encourage consumers to choose electric vehicles. This boosts demand for electric vehicle fluids to support maintenance and operation.

To know the most attractive segments, visit:
https://www.stratviewresearch.com/3743/electric-vehicle-fluids-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

In terms of region, Europe is expected to remain the largest market for electric vehicle fluids during the forecast period. Europe has been at the forefront of implementing stringent emissions regulations and promoting electric vehicle adoption through various incentives and subsidies. These policies drive the demand for electric vehicles, consequently increasing the demand for associated fluids. Government support creates a conducive environment for the growth of the electric vehicle fluids market in Europe. Europe has been investing significantly in electric vehicle charging infrastructure, addressing one of the key concerns for EV adoption. The availability of charging stations across the region encourages consumers to consider electric vehicles, thereby bolstering the market for electric vehicle fluids. With a robust charging infrastructure in place, the demand for electric vehicles and their associated fluids is expected to remain high in Europe.

European consumers and policymakers prioritize environmental sustainability, driving the adoption of electric vehicles as a cleaner alternative to traditional internal combustion engine vehicles. Electric vehicle fluids play a crucial role in maintaining the environmental benefits of EVs by ensuring their efficient and sustainable operation. This heightened environmental awareness further supports the dominance of Europe in the electric vehicle fluids market.

Electric Vehicle Fluids Market Drivers:
Some of the key drivers listed in the report are given below.
• Thermal management complexities in high-voltage battery systems demand specialized dielectric fluids capable of efficient heat transfer while maintaining electrical isolation.
• EV manufacturers' pursuit of extended range creates demand for lower-viscosity transmission fluids that reduce energy losses and maximize efficiency.
• Unique requirements of electric motors necessitate specialized coolants that provide optimal heat dissipation while protecting against copper corrosion.
• Direct-cooled battery systems adoption creates a substantial new market for immersion cooling fluids with precisely engineered electrical properties.
• Increasing fast-charging capabilities drive the development of advanced thermal management fluids capable of handling extreme heat loads during rapid charging cycles.

Top Companies in the Electric Vehicle Fluids Market:
Stratview Research has identified the following companies as the top market players.
• Royal Dutch Shell plc
• ExxonMobil Corporation
• BP plc.
• TotalEnergies SE
• FUCHS Petrolub AG
• Petronas
• ENEOS Corporation
• Repsol S.A.
• Valvoline Inc.
• PT
Note: The above list does not necessarily include all the top players in the market.

What Unique Insights Does This Report Offer?

This report provides comprehensive insights into the Electric Vehicle Fluids Market, answering critical questions like:

• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.

Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.

This release was published on openPR.