BIS Research Study Highlights Electric Vehicle Fluids & Lubricants Market to Reach $17.41 Billion by 2031

FREMONT, Calif., June 16, 2022 /PRNewswire/ — The global electric vehicle fluids and lubricants market is expected to reach $17.41 billion in terms of revenue by 2031, at a CAGR of 28.81%, suggests BIS Research’s premium study.

The growing fields of application of new fluids for electric vehicles have led to an increase in demand for various types of coolants and lubricants used in automobiles. Automotive OEMs have partnered with various fluid suppliers to source fluids for their electric vehicles to enhance the driving experience.

As governments around the world begin to implement plans to increase electric vehicle sales and phase out combustion engine vehicles in their respective countries, the market for fluids in electric vehicles is also set to grow.

The research study aims to present a clear picture of the current consumption and future growth potential of the Electric Vehicle Fluids market.

The detailed study is a compilation of 225 market data tables and 104 figures spread over 316 pages and an in-depth TOC on “Electric Vehicle Fluids and Lubricants Market – Analysis and Forecast, 2022-2031″

Reasons to buy this report

This exclusive Global Electric Vehicle Fluids and Lubricants Market Report will help you in the following ways:

  • An in-depth comparative analysis of the top 19 players (including point and multiple solution companies) has been performed to provide a comprehensive view of the Electrical Fluids market.
  • Market ranking analysis based on product portfolio, recent developments and regional breakdown.
  • Analysis of startups with an overview and an analyst’s point of view has been provided.

Demand – Drivers and Limits

The following are the demand drivers for the electric vehicle fluids and lubricants market:

  • Need for corrosion-resistant solutions in electric vehicle batteries
  • Rising demand to further extend the range of electric vehicles
  • Rapid adoption of immersive cooling for electric vehicle batteries
  • Improving Powertrain Durability in Electric Vehicles
  • The growing need for improved electrification components

The market is also expected to face some limitations owing to the following challenges:

  • Higher cost of ev fluids
  • The challenges of energy efficiency
  • Developing fluids for electric vehicles that respect the environment

Market analyst’s perspective

According Girish Jambale, Senior Research Associate, BIS Research, “The market for fluids and lubricants for electric vehicles has evolved rapidly and is expected to continue to grow at the same pace in the coming years. Companies are offering innovative solutions and launching new products in the market. Collaborations and product launches are key strategies that are contributing to the market growth A growing fleet of EVs is expected to increase the consumption of EV fluids and lubricants in the aftermarket Several solution providers are expected to dominate the market due to their expertise in developing of fluids and their extensive distribution network.

See the report in the market for fluids and lubricants for electric vehicles

Key Companies Operating in the Market and Competitive Landscape

The companies profiled have been selected based on input collected from primary experts and analysis of company coverage, product portfolio and market penetration.

Public companies are leaders in the market for fluids and lubricants for electric vehicles. For the base year 2021, market private companies capture about 5% market share, while market public companies capture about 95% market share in the global electric vehicle fluids and lubricants market .

Some of the most prominent established names in this market are:

Business Type 1: Private Businesses

  • Afton Chemicals
  • Technical fluids
  • dober
  • Infineum International Limited
  • Klüber lubrication
  • M&I Materials Limited
  • Panolin SA

Company type 2: Public companies

  • CASTROL Limited
  • 3M
  • Motul
  • Electrolube
  • ExxonMobil Corporation
  • The company Lubrizol
  • Petronas
  • PolySi Technologies Inc.
  • Shell plc
  • TotalEnergies SE
  • Valvoline Inc.

Companies that are not part of the previously mentioned pool have been well represented in the various sections of the report (where applicable).

Who should buy this report?

EV fluid manufacturers and EV OEMs should buy this report.

Request a sample of this report

Key Questions Answered by the Report

  • What are the key drivers and challenges in the global electric vehicle fluids and lubricants market?
  • What are the main patents filed by companies active in the electrical fluids market?
  • Do electric cars use oil for lubrication?
  • How does the supply chain work in the global electric vehicle fluids and lubricants market?
  • Which EV fluid type segment is expected to experience maximum demand growth in the global electric vehicle fluids and lubricants market in 2021-2031?
  • What are the major application areas for which different types of fluids are likely to see high demand during the forecast period 2021-2031?
  • For a new company looking to enter the EV fluids market, what areas could it focus on to stay ahead of the competition?
  • What type of new strategies are being adopted by existing market players to strengthen their market position in the industry?
  • What are the key business opportunities in the Electric Vehicle Fluids and Lubricants market?

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About BIS Research

BIS Research is a global B2B market intelligence and advisory firm focused on deep technologies and related emerging trends that may disrupt market dynamics in the near future. We publish over 200 market intelligence studies annually that focus on multiple deep technology verticals.

Our strategic market analysis emphasizes market estimates, technology analysis, high growth emerging applications, deeply segmented country-level granular market data, and other significant market parameters helpful in making strategic decision making for senior management.

BIS Research offers group studies as well as custom studies and expert consultations to companies, providing them with specific and actionable insights into new technology markets, business models and the competitive landscape.

BIS Healthcare vertical offers health technology market insights for medical devices, digital health, life sciences, robotics and imaging, information technology, precision medicine and other emerging health technologies, spanning the entire industry spectrum. Over the past 5 years, BIS Healthcare has published over 50 reports under the Precision Medicine banner. Additionally, BIS Research has successfully nominated the top 25 precision medicine voices on its Insight Monk platform for the past two years.

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Paul N. Strickland