Press release
Electric Vehicle Fluids Market to Reach USD 9.1 Billion by 2032, Says Stratview Research
Stratview Research
Stratview Research, a global market research firm, has launched a report on the global market, which provides a comprehensive outlook of the global and regional industry forecast, current & emerging market trends, segment analysis, competitive landscape, & more. The report includes detailed segmentation by product type, vehicle type, propulsion type, fill type, and geographic regions, delivering strategic insights for EV OEMs, fluid manufacturers, and investors to understand demand patterns, technology requirements, and competitive dynamics in this emerging market.
Request a free sample report: https://www.stratviewresearch.com/Request-Sample/3743/electric-vehicle-fluids-market.html#form
Market Statistics
• Market size: USD 1.2 billion (2023)
• Forecast value: USD 9.1 billion (2032)
• CAGR: 18.7% (2024-2032)
• Forecast period: 2024-2032
• Base year: 2023
• Total number of segments: 5
• Tables & figures: 100+
• Country-Level Market Assessment: 20
Market Segmentation
• By Product Type: Engine Oil, Coolants, Transmission Fluids, Greases
• By Vehicle Type: On-Highway Electric Vehicles, Off-Highway Electric Vehicles
• By Propulsion Type: Battery Electric Vehicles, Hybrid Electric Vehicles
• By Fill Type: First Fill, Service Fill
• By Region: North America, Europe, Asia-Pacific, Rest of the World
In product type segmentation, coolants remain the dominant segment because electric vehicle batteries and motors require efficient thermal management to maintain performance and longevity, driving fluid demand tailored to heat dissipation needs.
For vehicle type, on-highway electric vehicles represent the largest share as passenger EV adoption accelerates under supportive policies, increasing requirements for associated fluids in high-volume fleets.
In propulsion type, hybrid electric vehicles currently dominate due to their transitional role between combustion and fully electric systems, which necessitates fluids compatible with both propulsion mechanisms and supports broader market uptake.
Regarding fill type, first fill leads as OEMs specify and pre-fill vehicles with dedicated fluids tailored to performance and warranty requirements, reinforcing manufacturer influence over fluid selection and volume.
Regional Insights
Europe is the dominant region in the electric vehicle fluids market, supported by stringent emissions regulations, substantial government incentives for EV adoption, and robust charging infrastructure investments that collectively increase EV sales and fluid demand.
Asia-Pacific is the fastest-growing region driven by rapid urbanization, strong EV manufacturing bases, substantial investments in EV infrastructure, and increasing consumer uptake in major markets such as China, Japan, and India, elevating demand for regionally tailored EV fluids.
Market Drivers
• Global EV adoption growth increases demand for specialized fluids to support battery cooling and electric drivetrain efficiency.
• Regulatory emissions policies and incentives accelerate EV sales, indirectly driving fluid consumption.
• Advancements in battery thermal management technologies expand coolant and dielectric fluid requirements.
• OEM preference for first fill fluids enhances early vehicle lifecycle fluid demand.
• Expansion of charging infrastructure supports broader EV deployment, increasing long-term fluid market potential.
Top Companies in the Market
• Royal Dutch Shell plc
• ExxonMobil Corporation
• BP plc
• TotalEnergies SE
• FUCHS Petrolub AG
• Petronas
• ENEOS Corporation
• Repsol S.A.
• Valvoline Inc.
• PT
FAQs
1.How large is the electric vehicle fluids market today ?
The electric vehicle fluids market was estimated at USD 1.2 billion in 2023, driven by initial adoption of EV-specific thermal and lubricant fluids.
2.What growth rate is expected for the EV fluids market through 2032 ?
The market is projected to grow at a CAGR of 18.7% from 2024 to 2032, reflecting rising EV adoption and fluid requirement expansion.
3.Which product type dominates the electric vehicle fluids market ?
Coolants dominate the product mix because effective thermal management is critical for battery longevity and motor efficiency.
4.Why is Europe leading the electric vehicle fluids market ?
Europe leads due to aggressive emissions reduction policies, EV incentives, and substantial charging infrastructure expansion that bolster EV sales and fluid use.
5.What is driving growth in Asia-Pacific's EV fluids demand ?
Rapid urbanization, strong EV manufacturing growth, and significant investments in infrastructure increase EV production and fluid requirements in Asia-Pacific.
Related Links:
Aircraft Machining Market:
https://community.wongcw.com/blogs/1193715/Precision-and-Innovation-Aircraft-Machining-Market-Insights
Aircraft Turning Market:
https://payrchat.com/blogs/44893/aircraft-turning-marketstratview-research
Aircraft Power Generation MRO Market:
https://logcla.com/blogs/1132799/Aircraft-Power-Generation-MRO-Market-Trends-and-Opportunities
Transportation Thermoset Compounds Market:
https://webyourself.eu/blogs/1718238/Transportation-Thermoset-Compounds-Market-Opportunities-Challenges
Electrical & Electronics Thermoset Compounds Market:
https://ubuntusafa.com/blogs/426953/Electrical-Electronics-Thermoset-Compounds-Market-Opportunities-Challenges
Construction Thermoset Compounds Market:
https://heyhey.icu/blogs/471179/Construction-Thermosets-Market-Insights
Building Finishing Market:
https://twikkers.nl/blogs/469541/Building-Finishing-Market-Poised-for-Strong-Recovery-Through-2031
Electronic Countermeasures Market:
https://livepositively.com/electronic-countermeasures-market-strengthens-amid-modern-warfare-demands/
Ev Battery Enclosures Market:
https://www.omaada.com/blogs/257701/Innovation-Shapes-the-EV-Battery-Enclosures-Market-2025-2030
Pipe Seals Market:
https://www.exoltech.net/blogs/233179/Infrastructure-Growth-Boosts-Pipe-Seals-Demand
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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.
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