Insight by Abdul Wasay, Chief Operating Officer at The Business Research Company
In response to fluctuating tariffs and geopolitical trade developments, the Electric Vehicle Fluids Market Outlook 2025 analyses how businesses are adapting through supply chain diversification and strategic sourcing.
What Is the Projected Market Size of the Electric Vehicle Fluids Industry in 2024 and 2025?
The market size for electric vehicle fluids has seen significant growth recently. It is projected to increase from $2.19 billion in 2024 to $2.77 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 26.6%. The historical growth trend of this market has involved rapid expansion.
What Is the Projected Market Size of the Electric Vehicle Fluids Market in 2029?
The Electric Vehicle Fluids market is projected to reach a size of $7.87 billion by 2029, growing at a Compound Annual Growth Rate (CAGR) of 29.8%.
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What Are the Key Drivers of Electric Vehicle Fluids Market Growth?
The key Drivers in the electric vehicle fluids market are:
• Rising demand for electric vehicles globally
• Expansion of electric vehicle manufacturing and sales operations
• Higher need for vehicle efficiency and carbon reduction
• Importance of fluids in enhancing vehicle performance and longevity
What Are the Primary Segmentation Categories in the Electric Vehicle Fluids Market?
The electric vehicle fluidsmarket 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
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What Are the Major Trends Shaping the Electric Vehicle Fluids Market in 2025 and Beyond?
The key trends in the electric vehicle fluids market are:
• Companies are turning their focus to create innovative solutions like performance fluids to increase the efficiency and longevity of electric vehicle components.
• The use of performance fluids, specialized lubricants, coolants, and other liquids, is being explored to enhance the durability and overall functioning of electric vehicle systems.
• Solutions such as heat transfer fluids for battery temperature management, drive system fluids for multi-speed transmissions, and advanced brake fluids are being developed.
• Anti-corrosion grease for EV motors and seal bearings to address specific challenges faced by electric vehicles is another emerging trend.
Who Are the Emerging Players in the Electric Vehicle Fluids Market?
The key players in the electric vehicle fluids market are:
• 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.
Which Regions Are Leading the Growth in the Global Electric Vehicle Fluids Market?
Europe was the largest region in the electric vehicle fluids market in 2024
