As per the recent market research report on Global Fluids and Lubricants Market for Electric Vehicle, offered by Precise Market Intelligence, the market was estimated to be at $1,098.7 million in 2020. The market is projected to grow at a CAGR of 19.6% during forecast period 2020-2027, and to reach $3,618.9 million by 2027.
The market growth is attributed to the unmistakable sorts of liquids which are being received for upgraded application in electric vehicles are oils, heat move liquids, driver framework liquids, and brake liquids. The use of these sorts of liquids is in different segments, for example, e-engines, battery frameworks, course, consistent speed joints, power gadgets, gears, and the stopping mechanism of electric vehicles.
The growing market for electric vehicles (EV) has significantly impacted the transmission lubricant industry. Automotive original equipment manufacturers (OEMs) are making massive investments in developing EV technology. EV requirements are diverse and often unique to traditional lubrication challenges. New fluids and development approaches are required to address future needs.
What Does This Report Offers?
- This report provides pin point analysis for changing competitive dynamics
- It provides a forward-looking perspective on different factors driving or restraining market growth
- It provides a Seven-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product as well as Distribution Channel segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in depth analysis of market segments
- It provides distinctive graphics and exemplified analysis of major market segments
This market research study provides detailed qualitative and quantitative analyses of the global fluids and lubricants market for electric vehicle. Additionally, the report provides a comprehensive review of the major market drivers, restraints, opportunities in global fluids and lubricants market for electric vehicle. Moreover, the study highlights current market trends and provides forecast from 2020 to 2027.
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The Report Encapsulates the Detailed Market Segmentation
The market has been segmented based on product type, application, end user and region.
- By Product Type
- Heat Transfer Fluids
- Drive System Fluids
- Brake Fluids
- By Application
- Power Electronics
- By End User
- By Region
- North America (U.S., Canada)
- Europe (U.K., France, Germany, Italy, Spain, and rest of Europe)
- Asia Pacific (China, Japan, India, and Rest of Asia Pacific)
- South America (Brazil, Mexico, and Rest of South America)
- Middle East & Africa (Saudi Arabia, UAE, South Africa, and Rest of Middle East & Africa)
The data compiled in this report has been gathered on the basis of insights derived from studying the various key players operating in the market. Some of these players include 3M, Afton Chemicals, Engineered Fluids, Dober, FUCHS, Infineum International Limited, Klüber Lubrication, M&I Materials Limited, Motul, PANOLIN International Inc., Castrol, Electrolube, Exxon Mobil Corporation, Lubrizol, PolySi Technologies Inc., Valvoline Inc., Petronas and others.
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