The global electric vehicle fluids and lubricants market size reached USD 1,178.8 Million in 2020 and is expected to register CAGR of 18.7%, during the forecast period, according to latest analysis by Emergen Research. The new research report titled ‘Global Electric Vehicle Fluids and Lubricants Market’, published by Emergen Research, proffers a comprehensive study of the Electric Vehicle Fluids and Lubricants industry, while estimating the overall market size and the size and share of the key regional segments of the global market over historical period of 2017-2018, as well as the projected timeline of 2020-2027.
The latest study provides readers with a granular analysis of the major developmental elements of the global market, potential business avenues, and the overall market dynamics. The report has been specially curated to offer a deep understanding of the competitive terrain of the global market, highlighting the leading market rivals, their market positions, product portfolios, gross revenue shares, profit margins, pricing analysis, sales network & distribution channels, and financial standing.
Read more @ https://www.emergenresearch.com/industry-report/electric-vehicle-fluids-and-lubricants-market
Some Key Highlights in the Report
- Grease segment revenue is expected to expand at a significant CAGR during the forecast period. Increasing use of grease in electric vehicles for lubricating door locks, hinges, and powertrain is expected to boost revenue growth of this segment.
- Increasing adoption of BEVs globally is expected to drive revenue growth of the battery electric vehicles segment during the forecast period.
- Factors such as increasing adoption of electric vehicles due to stringent regulations implemented by government in countries in North America to reduce carbon emissions, adopt more environment-friendly and renewable energy resources and vehicles, and rising focus on reducing dependence on fossil fuels among others, are driving growth of the market in the region.
- Key players in the market include 3M, Castrol, Royal Dutch Shell, Total Lubricants, Valvoline Inc., Motul, Fuchs Petrolub SE, Engineered Fluids Inc, Exxon Mobil Corporation, and Lubrizol Corporation.
- In September 2019, Valvoline Inc. launched electric vehicle-specific product offerings with the introduction of EV Performance Fluids. The global product line includes EV drive system fluid, EV heat transfer fluid, EV grease, and EV brake fluid which is designed to meet the distinctive requirements of electric vehicles.
