The recent analysis by Markntel Advisors (a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals) on Fluid and Lubricants for Electric Vehicle Market describes factors using drivers, Challenges, Opportunities, and Trends, that propel the market growth and expansion. Using this report, the readers can better understand various consumer types, purchasing intentions, wants and preferences, viewpoints on the product/service, how they react to a specific product that is currently on the market, and much more with the accurate and current information provided in this research report. The study also provides a thorough analysis of the measures that important stakeholders might take to lessen and avoid different economic repercussions.
Fluid and Lubricants for Electric Vehicle Market Growth Insights with Opportunities, Trends, Drivers, and Challenges for 2024-2030
According to the most recent analysis, The Global Fluid and Lubricants for Electric Vehicle Market size is estimated to grow at a CAGR of around 30.4% during the forecast period, i.e., 2024-30. The stakeholders will gain in-depth knowledge about the market dynamics and competitive landscape from past, present, and future perspectives, enabling them to use this information to guide their use of money and resources. The Fluid and Lubricants for Electric Vehicle Market offers an overall analysis of the market size and development trends over the next five years (2024-2030) using both quantitative and qualitative methods.
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Market Report Scope:
Base year of the Analysis: 2023
Historic Period: 2019
Forecast Period: 2024-2030
Report Delivery Format: PDF, Excel, and PowerPoint formats, within 24 hours of the payment being successfully received
Global Fluid and Lubricants for Electric Vehicle Market Driver:
Expansion of Electric Vehicle Manufacturing Units to Boost Market Growth – Over the past few years, the adoption of electric automobiles increased substantially owing to the growing greenhouse emissions & the incentives provided for the purchase of electric automobiles. As per the statistics by the IEA, global electric car sales in 2023 reached around 14 million, an increase of about 35% compared to 2022. This mounting electric vehicle demand is necessitating the top companies to ramp up their production capabilities and expand their manufacturing units. Thus, generating a demand for the necessary fluids & lubricants directly from the original equipment manufacturers and enlarging the market size.
Further, authorities across the globe are also easing corporate taxes & providing favorable business environments. Owing to this, several market players are actively constructing their EV manufacturing units. In 2023, PMI Electro announced to setting up of a commercial EV manufacturing plant in Maharashtra, India. These rising establishment of EV production units would continue to boost the demand for Fluids, engine oils, and other lubricants, uplifting the market growth in the forthcoming years.
Fluid and Lubricants for Electric Vehicle Market - Competitive and Segmentation Analysis:
The market is divided into key segments based on various categories. Analyzing the growth within these segments will highlight areas of limited growth in the industry and provide valuable insights and an overview to assist users in making informed strategic decisions for identifying core market opportunities.
By Product Type
-Engine Oil
-Greases
-Heat Transfer Fluid
-Coolants
-Others (Transmission Fluids, Brake Fluids, etc.)
By Demand Type
-OEM
-Aftermarket
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By Vehicle Type
-Passenger Vehicle
-Commercial Vehicle
--Light Commercial Vehicle
--Medium & Heavy Commercial Vehicle
-Others (Two-Wheeler Vehicle, Three-Wheeler Vehicle, etc.)
- the passenger vehicle segment in the electric vehicle (EV) product category commands a significant market share
By Propulsion Type
-Battery Electric Vehicles (BEVs)
-Hybrid Electric Vehicles (HEVs)
-Plug-In Hybrid Electric Vehicles (PHEVs)
By Region
-North America
-South America
-Europe
-Middle East & Africa
-Asia-Pacific
- Asia-Pacific holds a considerable market share due to a cultural shift towards a more environmentally conscious lifestyle in response to rising CO2 emissions from rapidly growing cities and industries in developing countries like India, China, and Malaysia.
Who Are the Leaders in the Fluid and Lubricants for Electric Vehicle Market?
The competitive landscape of the market offers insights into various competitors, including company overviews, financial performance, revenue generation, market potential, and investment in research and development. It also highlights new market initiatives, production sites and facilities, production capacities, as well as the strengths and weaknesses of each company. Additionally, the analysis covers product launches, product range, and application dominance. These data points specifically focus on the companies' strategies and positioning within the market.
3M, Exxon Mobil Corporation, Valvoline Inc., Afton Chemicals, Dober, Infineum International Limited, Klüber Lubrication, M&I Materials Limited, Motul, FUCHS, Engineered Fluids, PolySi Technologies Inc., Lubrizol, Castrol, Panolin International Inc., Petronas, Royal Dutch Shell, Total Lubricants, and others
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