The Electric Vehicle Revolution Set to Create an Annual $5.7bn Revenue Opportunity for Fluids and Lubricants Manufacturers Globally by 2029
According to a premium market intelligence report, titled “Fluids and Lubricants Market for Electric Vehicles - Global and Regional Analysis: 2019-2029”, the global fluids and lubricants market for electric vehicles (EV) is expected to create an annual revenue opportunity of $5.7 billion by 2029.
With an expected rise in the demand for electric vehicles, automotive OEMs have put in motion ambitious plans to introduce new EV models into their target markets. Companies across the traditional automotive supply chain are looking for ways to maintain their relevance in this fast-changing automotive industry. Further, leading lubricant manufacturers and oil & gas companies, to stay relevant in this industry, are planning to introduce fluids and lubricants for electric vehicles.
According to Ajeya Saxena, Lead Analyst, “With more and more automotive OEMs driving EVs into their markets, a need to improve the range and performance of these vehicles has become a priority. This, combined with an increasing size of batteries and increasing number of electronic components in EVs, it is necessary to develop and adopt fluids and lubricants that are dielectric in nature while ensuring the cooling as well as lubrication of critical vehicle components.”
As a deep dive, some key questions answered in this report are:
- Which are the major trends that will shape the future of electric vehicles industry?
- Which are the key factors that impact the demand for fluids and lubricants in the electric vehicle industry?
- Which are the key strategies adopted by market players to ensure their market positioning?
- Which are the opportunities that suppliers of lubricants and fluids must capitalize upon to grow their market presence?
- How does the supply chain function in the global fluids market for electric vehicles?
- How is the supply-demand scenario expected to pan out for fluids and lubricants for electric vehicles?
- Which type of fluid and lubricant provides an attractive investment opportunity in terms of current revenue generation and volume sales along with their future growth potential from 2019-2029?
- Which are the key application areas for different types of fluids and lubricants and which application area would help foster the future demand for different types of fluids and lubricants?
- Which types of electric vehicles generate maximum demand for fluids and lubricants and how is the demand expected to grow in terms of value and volume over 2019-2029?
- Which are the players that are catering to the demand for different EV fluids and how are they benchmarked against each other in different regions and countries?
- What are the key offerings of the prominent companies in the market for fluids for electric vehicles?
- Which regions and countries offer attractive opportunities to suppliers of fluids and lubricants for electric vehicles?
- How do the different products, their applications, and the consumption by different types of EVs vary with regions and countries?
- What are the new application areas for EV fluids?
- What are the key attributes of consumers in various regions for EV fluids?
This report is a good compilation of research on more than 60 players in the global fluids and lubricants market for electric vehicles. It draws upon the insights from in-depth interviews with key opinion leaders of more than 50 leading companies, market experts, and vendors.
The report also profiles 19 suppliers and key ecosystem participants in the fluids and lubricants market for electric vehicles. ExxonMobil, Total, Shell, Castrol, Valvoline, and Lubrizol are some of the leading players profiled in the market study. Engineered Fluids, M&I Materials, and Dober are some of the emerging private companies in this field and have also been profiled in the study.