MarkNtel Advisors recently published a detailed industry analysis of the Fluid and Lubricants for Electric Vehicle Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Insights and Analysis of the Fluid and Lubricants for Electric Vehicle Market (2024-2030)
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.
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What is driving the Fluid and Lubricants for Electric Vehicle Market?
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.
What segments define the Fluid and Lubricants for Electric Vehicle Market from 2024 to 2030? How do these segments contribute to market dynamics and growth?
By Product Type
(Engine Oil, Greases, Heat Transfer Fluid, Coolants, Others (Transmission Fluids, Brake Fluids, etc.)),
By Demand Type
(OEM, Aftermarket),
By Vehicle Type,
(Passenger Vehicle, Commercial Vehicle, [Light Commercial Vehicle, Medium & Heavy Commercial Vehicle], Others (Two-Wheeler Vehicle, Three-Wheeler Vehicle, etc.)),
By Propulsion Type
(Battery Electric Vehicles (BEVs), Hybrid Electric Vehicles (HEVs), Plug-In Hybrid Electric Vehicles (PHEVs))
By Regions
North America, South America, Europe, The Middle East & Africa, Asia Pacific
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Who are the leading key players shaping the Fluid and Lubricants for Electric Vehicle Market landscape?
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
Questions Addressed in this Study
1.What factors are driving the Fluid and Lubricants for Electric Vehicle Market growth?
2.How is the Fluid and Lubricants for Electric Vehicle Market expected to grow over the next five years?
3.What are the key insights into the current trends in the Fluid and Lubricants for Electric Vehicle Market?
4.What is the current size of the Fluid and Lubricants for Electric Vehicle Market, and how is it projected to change in the future?
6.What is the future outlook for the Fluid and Lubricants for Electric Vehicle Market in terms of technological advancements and market expansion?
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Why MarkNtel Advisors?
MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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