Electric Vehicle Fluids and Lubricants Market Size to Reach USD 4,606.2 Million in 2028 | Global Analysis, Industry Statistics, Revenue, Demand and Trend Analysis Research Report by Emergen Research

Electric Vehicle Fluids and Lubricants Market Size to Reach USD 4,606

Vancouver, British Columbia, March 18, 2021 (GLOBE NEWSWIRE) — The global electric vehicle fluids and lubricants market size reached USD 1,178.8 Million in 2020 and is expected to register a CAGR of 18.7% during the forecast period, according to latest analysis by Emergen Research. Factors such as favorable government policies towards adoption of more environment-friendly and renewable energy resources and vehicles and increasing competition in the electric vehicle market to leverage opportunities emerging as a result of the steady shift towards EVs are some key factors driving market growth. In addition, rising focus on developing, manufacturing, and introducing more efficient and affordable EVs in the global market are other key factors expected to drive market growth going ahead.Claim Your FREE Sample Copy with Table of content@ https://www.emergenresearch.com/request-sample/557Battery systems and e-motors used in electric vehicle generate heat while the vehicle is being used, and development of more efficient thermal cooling systems is expected to support market growth going ahead.  Furthermore, increasing focus on manufacture of electric vehicles by automakers in developing countries is expected to further augment market growth in the near future. For instance, Volkswagen Group declared its plan in 2018 to manufacture 22 million Electric vehicles by 2026, half of which will be manufactured in China.However, challenges regarding feasibility of developing immersion cooling batteries during thermal management is expected to hamper growth of the global electric vehicle fluids and lubricants market to a certain extent over the forecast period.Some Key Highlights in the ReportRising use of coolant fluid for thermal management systems in electric vehicles is driving growth of the heat transfer fluids segment, which is expected to register significant CAGR over the forecast period.In terms of revenue, the OEMs segment is expected to register significant growth over the forecast period due to increasing collaborations between automotive OEMs and major fluid suppliers to supply fluids for their electric vehicles to improve driving experience.In terms of market share, hybrid electric vehicles (HEVs)/plug-in hybrid electric vehicles (PHEVs) segment is expected to register significant growth during the forecast period due to rising adoption of HEVs in developed and developing countries to reduce carbon emissions.In terms of revenue, Asia Pacific is expected to register a significantly rapid CAGR during the forecast period due to increasing demand for electric vehicles in countries 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, Exxon Mobil Corporation launched Mobil EV offering, which includes fluids and greases developed to address evolving needs in battery electric vehicles.Check Our Prices@ https://www.emergenresearch.com/select-license/557
Emergen Research has segmented the global electric vehicle fluids and lubricants market on the basis of product type, distribution channel, propulsion type, and region:
Product Type Outlook (Revenue, USD Million; 2018–2028)GreaseBrake FluidHeat Transfer FluidDrive System FluidDistribution Channel Outlook (Revenue, USD Million; 2018–2028)OEMsAftermarketPropulsion Type Outlook (Revenue, USD Million; 2018–2028)Battery Electric Vehicles (BEVs)Hybrid Electric Vehicles (HEVs)/Plug-In Hybrid Electric Vehicles (PHEVs)Click to access the Report Study, Read key highlights of the Report and Look at Projected Trends:   https://www.emergenresearch.com/industry-report/electric-vehicle-fluids-and-lubricants-marketRegional Outlook (Revenue, USD Million; 2018–2028)North AmericaU.S.CanadaMexicoEuropeGermanyU.K.FranceItalySpainBENELUXRest of EuropeAsia PacificChinaIndiaJapanSouth KoreaRest of APACLatin AmericaBrazilRest of LATAMMiddle East & AfricaSaudi ArabiaUAESouth AfricaTurkeyRest of MEATake a Look at our Related Reports:Spherical graphite market size was valued at USD 2,435.8 Million in 2019 and is forecasted to reach USD 9,598.8 Million by 2027 at a CAGR of 18.6%. The spherical graphite market is observing a double-digit growth attributed to its increasing usage in lithium-ion battery production.Sodium dichromate market size was valued at USD 759.2 Million in 2019 and is forecasted to reach USD 1,242.4 Million by 2027 at a CAGR of 6.3%. The sodium dichromate market is observing high demand attributed to its increasing application in pigment, metal finishing, chromium compounds preparation, leather tanning, and wood preservative.Acoustic insulation market size was valued at USD 12.94 Billion in 2019 and is forecasted to reach USD 19.64 Billion by 2027 at a CAGR of 5.3%. The acoustic insulation market is observing high demand attributed to its increasing application in building & construction, automotive, aerospace, and manufacturing.About Emergen ResearchEmergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.Contact Us:Eric LeeCorporate Sales SpecialistEmergen Research | Web: www.emergenresearch.comDirect Line: +1 (604) 757-9756E-mail: sales@emergenresearch.comFacebook | LinkedIn | Twitter | BlogsRead Full Press Release: https://www.emergenresearch.com/press-release/global-electric-vehicle-fluids-and-lubricants-market

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