Asia-Pacific Electric Vehicle Fluid Market Outlook, 2027

Asia-Pacific electric vehicle fluids market will grow with 30.05% CAGR by the forecast period. China is ruling the market with more than 50% of the market share.

Featured Companies

  • 1. 3M Company
  • 2. Shell plc
  • 3. BP p.l.c.
  • 4. Valvoline Inc.
  • 5. Totalenergies SE
  • 6. Exxonmobil Corporation
  • More...

Electric vehicles are expected to become mainstream transportation by the forecast period. The Asia-Pacific government has supported the zero-emission electric vehicle market with generous direct subsidies to offset higher electric vehicle costs. To enhance the production of electric vehicle, government has introduced industry incentive. Industry incentives are focused on vehicle manufacturers, battery & fluid producers and ancillary companies to encourage the production of electric vehicle and component parts of electric vehicle value chain. Another significant Asian government incentive is charging infrastructure which includes financial incentives, spatial planning and regulatory framework to support the development of charging stations reducing range anxiety. Electric vehicle fluids are essential element of electric vehicle to improve the vehicle performance. Automotive original equipment manufacturers (OEMS) present in Asia-Pacific region are making massive investments in developing electric vehicle technology that needs lubricant formulators to meet the requirements. Electric vehicle fluids must balance e-module lubrication with thermal management and electrical properties. Increasing developments into electric vehicle industry directs towards the rising adoption of electric vehicle which further propels the EV fluids market.

According to the research report “Asia-Pacific Electric Vehicle Fluids Market Outlook, 2027" published by Bonafide Research, electric vehicle fluids market is forecasted to have significant market growth with 30.05% CAGR. The rising shift of Asia-Pacific consumers towards environment-friendly lifestyles due to the alarming rate of carbon emissions is expected to drive the market. Asia-Pacific electric vehicle fluids market is segmented into five major countries which are China, India, Japan, Australia and South Korea. Among these countries, China is anticipated to have maximum market share with more than 50%. In China, rising government initiatives to provide subsidies for electric vehicle and rapid penetration of electric vehicles into the automotive industry are responsible for increasing market growth. Electric vehicle fluids are majorly segmented into four types which are grease, brake fluid, heat transfer fluid and drive system fluid. In Asia-Pacific electric vehicle fluids market, heat transfer fluid segment is expected to lead the market during the forecast period. Increasing adoption of EVs in Asia-Pacific region directs towards the rising demands for electric vehicle battery. This creates prominent growth for heat transfer fluid in Asia-Pacific region as it is essential component to optimize the temperature of battery and electric vehicle.

According to the report, Asia-Pacific electric vehicle fluids market is segmented into three major types which are battery electric vehicle, plug-in hybrid electric vehicle and hybrid electric vehicle. Among these propulsion types, battery electric vehicle type is anticipated to lead the market with more than 55% during the forecast period. Presence of major market players in this region drives the overall market in Asia-Pacific region. Population across the region have adopted battery electric vehicle widely due to easy to adapt technology. Higher petroleum prices and lack of charging stations are restraining factors for adoption of hybrid electric vehicle. Further, electric vehicle fluids market is segmented into passenger type and commercial type of vehicles. Passenger type of vehicle is forecasted to lead the market with more than 80% market share. With that commercial type of vehicles are anticipated to have prominent market growth during the forecast period.

Impact of Covid-19 on Asia-Pacific Electric Vehicle Fluids market:
The Covid-19 pandemic severely impacted several sectors including automotive sector in Asia-Pacific region. Major manufactures were shutting down their operations completely or operating at reduced capacities. Complete lockdowns and quarantines have heavily affected electric vehicle and electric vehicle fluids market. Uncertainty regarding the duration of lockdown situations and supply chain disruption made it more difficult. Though, pandemic had reshaped the urban transport access in Asia-Pacific region. Pandemic helped region to focus on clean energy transport and zero-emission vehicles. This implies towards the increasing market growth for electric vehicle fluids market during the forecast period.

Major Companies present in the market:
Shell Plc, Valvoline Inc., Totalenergies Se, Exxonmobil Corporation, Fuchs Petrolub Se, And Petroliam Nasional Berhad (Petronas), Repsol S.A, Castrol Limited, Afton Chemicals, Motul, Dober, Infineum International Limited, Eneos Corporation, The Lubrizol Corporation, Engineered Fluids Inc.

Considered in this report
• Geography: Asia-Pacific
• Base year: 2021
• Estimated year: 2022
• Forecast year: 2027

Aspects covered in this report
• Asia-Pacific Electric Vehicle Fluid market with its value and forecast along with its segments
• Country-wise electric vehicle fluid market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Regions covered in the report
• China
• India
• Japan
• Australia
• South Korea

Types of Product in the report:
• Grease
• Braking Fluid
• Heat Transfer Fluid
• Drive System Fluid

Type of Propulsion in the report:
• Battery Electric Vehicle (BEV)
• Plug-In Hybrid Electric Vehicle (PHEV)
• Hybrid Electric Vehicle (HEV)

By Vehicle Type:
• Passenger Vehicle
• Commercial Vehicle

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to electric vehicle fluid industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry

What's Inside a Bonafide Research`s industry report?

Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globally

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Companies Mentioned

  • 3M Company
  • Shell plc
  • BP p.l.c.
  • Valvoline Inc.
  • Totalenergies SE
  • Exxonmobil Corporation
  • Petroliam NasionalBerhad (PETRONAS)
  • Repsol S.A
  • Eneos Corporation
  • Castrol Limited
  • The Lubrizol Corporation
  • Afton Chemicals Corporation
  • Motul
  • Infineum International Limited
  • Fuchs Petrolub SE
  • TETRA Technologies, Inc.
  • Klüber Lubrication
  • Gulf Oil

Table of Contents

  • Table of Contents
  • 1. Executive Summary
  • 2. Report Methodology
  • 3. Market Structure
  • 3.1. Market Considerate
  • 3.2. Market Definition
  • 4. Economic /Demographic Snapshot
  • 5. Global Electric Vehicle Fluid Market Outlook
  • 5.1. Market Size by Value
  • 5.2. Market Share
  • 5.2.1. By Region
  • 5.2.2. By Product Type
  • 5.2.3. By Propulsion Type
  • 5.2.4. By Vehicle Type
  • 5.2.5. By Company
  • 5.2.6. By Country
  • 6. Asia-Pacific Electric Vehicle Fluid Market Outlook
  • 6.1. Market Size by Value
  • 6.2. Market Share
  • 6.2.1. By Country
  • 6.2.2. By Product Type
  • 6.2.3. By Propulsion Type
  • 6.2.4. By Vehicle Type
  • 6.3. China Electric Vehicle Fluid Market Outlook
  • 6.3.1. Market Size by Value
  • 6.3.2. Market Share
  • 6.3.2.1. By Product Type
  • 6.3.2.2. By Propulsion Type
  • 6.4. Japan Electric Vehicle Fluid Market Outlook
  • 6.4.1. Market Size by Value
  • 6.4.2. Market Share
  • 6.4.2.1. By Product Type
  • 6.4.2.2. By Propulsion Type
  • 6.5. India Electric Vehicle Fluid Market Outlook
  • 6.5.1. Market Size by Value
  • 6.5.2. Market Share
  • 6.5.2.1. By Product Type
  • 6.5.2.2. By Propulsion Type
  • 6.6. Australia Electric Vehicle Fluid Market Outlook
  • 6.6.1. Market Size by Value
  • 6.6.2. Market Share
  • 6.6.2.1. By Product Type
  • 6.6.2.2. By Propulsion Type
  • 6.7. South Korea Electric Vehicle Fluid Market Outlook
  • 6.7.1. Market Size by Value
  • 6.7.2. Market Share
  • 6.7.2.1. By Product Type
  • 6.7.2.2. By Propulsion Type
  • 7. Market Dynamics
  • 7.1. Key Drivers
  • 7.2. Key Challenges
  • 8. Market Trends and Developments
  • 8.1. XXXX
  • 8.2. XXXX
  • 8.3. XXXX
  • 8.4. XXXX
  • 8.5. XXXX
  • 9. Company Profiles
  • 9.1. Shell Plc Formerly Royal Dutch Shell Plc
  • 9.2. Valvoline Inc.
  • 9.3. Totalenergies SE
  • 9.4. Exxonmobil Corporation
  • 9.5. Petroliam Nasional Berhad (PETRONAS)
  • 9.6. Repsol S.A
  • 9.7. Eneos Corporation
  • 9.8. Castrol Limited
  • 9.9. The Lubrizol Corporation
  • 9.10. Afton ChemicalsCorporation
  • 9.11. Motul
  • 9.12. Infineum International Limited
  • 9.13. Fuchs Petrolub SE
  • 9.14. BP Plc.
  • 9.15. 3M
  • 9.16. CARL BECHEM GMBH
  • 9.17. TETRA technologies Inc.
  • 9.18. Kluber Lubrication
  • 9.19. Gulf Oil
  • 10. Strategic Recommendations
  • 11. Disclaimer

List of Tables
Table 1: Top 10 Counties Economic Snapshot 2020
Table 2: Economic Snapshot of Other Prominent Countries 2020
Table 3: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 4: Global Electric Vehicle Fluid Market Share By Region (2016, 2021&2027F)
Table 5: Global Electric Vehicle Fluid Market Share By Product Type (2016 - 2021&2022E–2027F)
Table 6: Global Electric Vehicle Fluid Market Share By Company (2020)
Table 7: Global Electric Vehicle Fluid Market Share By Country (2016, 2021&2027F)
Table 8: Asia-Pacific Electric Vehicle Fluid Market Share By Country (2016, 2021&2027F)
Table 9: Asia-Pacific Electric Vehicle Fluid Market Share By Product Type (2016 - 2021&2022E - 2027F)
Table 10: China Electric Vehicle Fluid Market Share By Product Type (2016 - 2021&2022E - 2027F)
Table 11: Japan Electric Vehicle Fluid Market Share By Product Type (2016 - 2021&2022E - 2027F)
Table 12: India Electric Vehicle Fluid Market Share By Product Type (2016 - 2021&2022E - 2027F)
Table 13: Australia Electric Vehicle Fluid Market Share By Product Type (2016 - 2021&2022E - 2027F)
Table 14: South Korea Electric Vehicle Fluid Market Share By Product Type (2016 - 2021&2022E - 2027F)
Table 15: Key Facts of Shell Plc Formerly Royal Dutch Shell Plc
Table 16: Key Facts of Valvoline Inc.
Table 17: Key Facts of Totalenergies SE
Table 18: Key Facts of Exxonmobil Corporation
Table 19: Key Facts of Petroliam Nasional Berhad (PETRONAS)
Table 20: Key Facts of Repsol S.A
Table 21: Key Facts of Eneos Corporation
Table 22: Key Facts of Castrol Limited
Table 23: Key Facts of The Lubrizol Corporation
Table 24: Key Facts of Afton ChemicalsCorporation
Table 25: Key Facts of Motul
Table 26: Key Facts of Infineum International Limited
Table 27: Key Facts of Fuchs Petrolub SE
Table 28: Key Facts of BP Plc.
Table 29: Key Facts of 3M
Table 30: Key Facts of CARL BECHEM GMBH
Table 31: Key Facts of TETRA technologies Inc.
Table 32: Key Facts of Kluber Lubrication
Table 33: Key Facts of Gulf Oil

List of Figures
Figure 1: Global Electric Vehicle Fluid Market Size By Value 2016 to 2027F (In USD Million)
Figure 2: Global Electric Vehicle Fluid Market Share By Propulsion Type (2016, 2021&2027F)
Figure 3: Global Electric Vehicle Fluid Market Share By Vehicle Type (2016, 2021&2027F)
Figure 4: Asia-Pacific Electric Vehicle Fluid Market Size By Value 2016 to 2027F (In USD Million)
Figure 5: Asia-Pacific Electric Vehicle Fluid Market Share By Propulsion Type (2016, 2021&2027F)
Figure 6: Asia-Pacific Electric Vehicle Fluid Market Share By Vehicle Type (2016, 2021&2027F)
Figure 7: China Electric Vehicle Fluid Market Size By Value2016 to 2027F (In USD Million)
Figure 8: China Electric Vehicle Fluid Market Share By Propulsion Type (2016, 2021&2027F)
Figure 9: Japan Electric Vehicle Fluid Market Size By Value 2016 to 2027F (In USD Million)
Figure 10: Japan Electric Vehicle Fluid Market Share By Propulsion Type (2016, 2021&2027F)
Figure 11: India Electric Vehicle Fluid Market Size By Value2016 to 2027F (In USD Million)
Figure 12: India Electric Vehicle Fluid Market Share By Propulsion Type (2016, 2021&2027F)
Figure 13: Australia Electric Vehicle Fluid Market Size By Value 2016 to 2027F (In USD Million)
Figure 14: Australia Electric Vehicle Fluid Market Share By Propulsion Type (2016, 2021&2027F)
Figure 15: South Korea Electric Vehicle Fluid Market Size By Value2016 to 2027F (In USD Million)
Figure 16: South Korea Electric Vehicle Fluid Market Share By Propulsion Type (2016, 2021&2027F)
Figure 17: Market Attractiveness Index, 2021
Figure 18: Market Attractiveness Index, 2027F

Feed Phosphate Market Research FAQs

On the basis of vehicle type, Asia-Pacific EV fluids market is segmented into two types which are passenger vehicle and commercial vehicle.

Asia-Pacific EV fluids market is anticipated to grow at 30.05% CAGR y 2027.

Electric vehicle fluids are especially engineered and designed to meet the requirements for enhanced performance of vehicle.

Electric vehicles experience significant fluctuations in power flows and high motor speeds of up to 15,000 revolutions a minute. They can require several fluids: oil for the gear reducer, which is the EV's transmission, and an oil specifically for the electric motor if the automaker is trying to improve cooling.

China is forecasted to have higher market share during the forecast period.
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Asia-Pacific Electric Vehicle Fluid Market Outlook, 2027

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