Global Electric Vehicle Fluids and Lubricants Market Outlook to 2031 – Players include Afton Chemicals, Infineum International, and Dober, among others

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Global fluids and lubricants market

Global fluids and lubricants market

Global fluids and lubricants market

Dublin, June 22, 2022 (GLOBE NEWSWIRE) — The “Electric Vehicle Fluids and Lubricants Market – A Global and Regional Analysis: Focus on Product Types and Applications, Vehicle Type, Propulsion Type, Channel distribution and countries – Analysis and Forecast, 2022-2031″ report has been added to from ResearchAndMarkets.com offer.

Electric Vehicle Fluids & Lubricants Market was estimated at USD 1,387.7 Million in 2021 which is expected to grow with a CAGR of 28.81% and reach USD 17,412.9 Million by 2031. of the fluids and lubricants market for electric vehicles should be driven by the increase in sales of electric vehicles worldwide.

Market life cycle stage

The electric vehicle fluids and lubricants market is in its infancy and growing rapidly. Ongoing research and development activities in the manufacture of efficient, anti-wear and temperature-optimal fluids are expected to drive key market development activities.

The market for fluids and lubricants for electric vehicles is in a growth phase. A growing fleet of electric vehicles (EV) consumes more and more EV fluids. As a result, the electric vehicle fluids and lubricants market is expected to flourish during the forecast period 2022-2031.

Impact

  • Huge investments in the form of subsidies and infrastructure development by the government and federal agencies to promote electric vehicles to reduce carbon dioxide emissions are propelling the growth of electric vehicle fluids and lubricants.

  • According to CALSTART’s Zero-Emission Technology Inventory, the North American market will have 54 manufacturers offering more than 100 electric heavy-duty vehicle models by 2022, which will drive the market for electric vehicle fluids and lubricants. Sales of electric heavy-duty vehicles will lead to increased consumption of fluids and lubricants. Compared to normal electric cars, heavy-duty vehicles require more maintenance, which can boost aftermarket sales.

Impact of COVID-19

The impact of the COVID-19 pandemic on the electric vehicle fluids and lubricants market has been negligible. Despite the pandemic, the consumption of fluids and lubricants for electric vehicles has increased slightly. COVID-19 has heightened environmental awareness. For this reason, more and more people are considering buying durable vehicles. This will propel the electric vehicle fluids and lubricants market.

Recent Developments in the Electric Vehicle Fluids and Lubricants Market

  • In March 2022, Afton invested approximately $400 million in the Singapore chemical additive manufacturing plant as part of the Phase 3 expansion to expand its GPA blending capabilities.

  • In November 2021, the FUCHS Group unveiled a new design for automotive lubricants that offers improved orientation, handling and resource conservation.

  • In September 2021, Infineum International Ltd announced the launch of a broad portfolio of fluids dedicated to electric mobility, covering all major models of hybrid and full battery electric vehicles.

  • In February 2020, Kluber Lubrication launched specialty lubricants for electric vehicles.

  • In November 2021, Petronas unveiled its line of next-generation electric vehicle fluid solutions at its Global Research and Technology Center in Turin, Italy.

Demand – Factors and Limitations

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

  • Need for corrosion resistant solutions in electric vehicle batteries

  • Increase in demand to further extend the range of electric vehicles

  • Rapid adoption of immersive cooling for electric vehicle batteries

  • Improving Powertrain Durability in Electric Vehicles

  • Increased demand for high performance grease in HEVs

  • 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

  • Energy efficiency challenges

  • Developing fluids for electric vehicles that respect the environment

  • Lack of EV/HEV performance optimized to improve thermal conductivity

Key Market Players and Competition Summary

The companies profiled have been selected based on input gathered 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

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.

  • FUCHS

Main topics covered:

1 Markets
1.1 Industry Outlook
1.1.1 Trends: current and future
1.1.2 Supply Chain/MAP Network
1.1.3 Industry attractiveness
1.1.3.1 Threat from new entrants (low to moderate)
1.1.3.2 Bargaining power of buyers (low to 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 Fluid Additives in Electric Vehicle Batteries
1.1.7 Ecosystem/Ongoing Programs
1.1.7.1 Consortia, associations and regulatory bodies
1.1.7.2 Government programs and initiatives
1.1.7.3 Programs by research institutes and universities
1.2 Commercial dynamics
1.2.1 Commercial factors
1.2.1.1 Need for corrosion resistant solutions in electric vehicle batteries
1.2.1.2 Increase demand to further extend the range of electric vehicles
1.2.1.3 Rapid adoption of immersive cooling for electric vehicle batteries
1.2.1.4 Improving Powertrain Durability in Electric Vehicles
1.2.1.5 Increase in demand for high performance grease in HEVs
1.2.1.6 Growing need for improved 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 environmentally friendly fluids for electric vehicles
1.2.2.4 Lack of optimized EV/HEV performance to improve thermal conductivity
1.2.3 Business strategies
1.2.3.1 Product developments
1.2.3.2 Market evolution
1.2.4 Business 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 the development of autonomous vehicles
1.2.5.3 Strict regulations by government agencies for sustainable EV environment

2 Application
2.1 Global Electric Vehicle Fluids and Lubricants Market- 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 duty vehicles
2.1.2 Demand Analysis (by Propulsion Type), Value and Volume Data, 2021- 2031
2.1.2.1 Battery Electric Vehicles (BEV)
2.1.2.2 Hybrid electric vehicles (HEVs)
2.1.2.3 Plug-in hybrid electric vehicles (PHEV)
2.2 Benchmarking of Fluids and Lubricants Applications in Electric Vehicles
2.2.1 Applications for fluids: internal combustion engine vehicle vs HEV vs PHEV vs BEV
2.2.2 Emerging new application areas through the adoption of electric vehicles
2.2.3 Analyst view on market cannibalization

3 Products
3.1 Global Electric Vehicle Fluids and Lubricants Market – 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 Electric Vehicle Fluids and Lubricants Market – 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 Electric 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 line cooling
3.2.1.2.2 Electric 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 Electric 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 OEM
3.2.2.2 Secondary market
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 Delivery Channel
3.4 Patent Analysis
3.5 Overall Price Analysis
3.6 Technology roadmap

4 Region

5 Markets – Competitive Benchmarking and 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 Presentation of the company
5.3.1.1.2 Role of Afton Chemicals in the electric vehicle fluids and lubricants market
5.3.1.1.3 Product portfolio
5.3.1.1.4 Production sites and R&D analysis
5.3.1.1.5 Commercial strategies
5.3.1.1.6 Company Strengths
5.3.1.1.7 Analyst view for Afton Chemicals
5.3.1.2 Technical 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 SA
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 company
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

6 Research methodology

For more information about this report visit https://www.researchandmarkets.com/r/j93ehv

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