Latin America Electric Vehicle Fluid Market Outlook, 2027

Latin America electric vehicle fluids market is to grow with 24.75% CAGR by the forecast period. Brazil is leading the Latin America electric vehicle fluids market.

Featured Companies

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

Current environmental challenges and the regulations are directing the global automotive industry to innovate constantly while considering user expectations for quality and performance of vehicle. Growing awareness over tailpipe emissions implies stricter standards for carbon dioxide and other pollutants across the globe. In Latin America, electric mobility policy is one of the reasons which is responsible for higher adoption of electric vehicle. Numerous countries have incentives for electric vehicles, such as discounts on sale, environmental and import taxes, revenue-neutral ‘feebates’ that tax polluting cars and reward clean once. Traditionally, fluids have not been a key concern in electric vehicles but today manufacturers are aiming to introduce new range of products that can keep up with changing requirements. Electric vehicle fluids are important component to meet the requirements of customers and to improve performance of vehicle. Many industries in Latin America have initiated production of highly innovative fluid ranges that can help to design effective and efficient electric and hybrid vehicles. These high-performance fluid ranges can keep vehicles running smoothly with ensuring safety.

According to the research report “Latin America Electric Vehicle Fluids Market Outlook, 2027" published by Bonafide Research, electric vehicle fluids market is anticipated to have significant market growth with 24.75% CAGR by the forecast period. Sustainable development activities along with customer demand for eco-friendlier transport alternatives drive the Latin America electric vehicle fluids market. Based on the countries, Latin America electric vehicle fluids market is segmented into three major countries which are Brazil, Argentina and Columbia. Brazil is projected to acquire maximum market share during the forecast period. Manufactures present in Brazil investing to focus on the development of electric vehicle and electric vehicle fluids with huge opportunities for technologies. Based on this factor, Brazil electric vehicle fluids market is anticipated to have significant growth in Latin America region. Latin America government policies like tax exemptions and movement restrictions on conventional vehicles are expected to fuel the electric vehicle fluids market in entire region. Latin America has one of the cleanest electricity matrices in the world which enhances the adoption of electric vehicles in the region. Latin America electric vehicle fluids market is segmented into four major parts of fluids including grease, brake fluid, heat transfer fluid and drive system fluid. Among these types, heat transfer fluid is anticipated to lead the market with more than 80% market share during the forecast period. Increasing adoption of electric vehicle and electric vehicle battery in Latin America directs towards the significant market growth for heat transfer fluid. It is an essential component for thermal management of battery and other power electronics.

According to the report, electric vehicle fluids market in Latin America is bifurcated into two parts based on the vehicle type which are passenger vehicle and commercial vehicle. Passenger vehicle type is forecasted to have market share more than 70% by 2027. Due to convenience provided by the vehicle and government policies for passenger electric vehicle, this segment is widely adopted in Latin America region. Latin America government is also aiming to reduce the carbon emissions and rising greener technology. Due to that commercial type of electric vehicle is expected to have increasing market growth during the forecast period. As for the propulsion type of electric vehicle, plug-in hybrid electric vehicle is projected to have maximum market share. Population of Latin America prefers to have compact technology rather than traditional battery electric type of vehicle. Plug-in hybrid electric vehicle consists of battery as well as combustion engine. Comparatively, plug-in hybrid electric vehicle consumes more amount of fluid than battery electric vehicle. Higher adoption of plug-in hybrid electric vehicle in Latin America directs towards the significant growth of electric vehicle fluids market in region.

Impact of Covid-19 on Latin America Electric Vehicle Fluids market:
During the Covid-19 pandemic, most governments moved quickly to provide swift and significant responses to control the outbreak in region. Despite the government’s efforts, Latin America was declared as the epicenter of the Covid-19 pandemic by WHO (World Health Organization). Due to strict regulations of lockdowns and social distancing norms, industries and manufactures had their development at halt. However, Covid-19 situation also directed awareness about carbon emissions across the region. Increasing adoption of electric vehicle and vehicle fluids to reduce the environmental impacts is anticipated to drive the overall growth for Latin America electric vehicle fluids market by 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: Latin America
• Base year: 2021
• Estimated year: 2022
• Forecast year: 2027

Aspects covered in this report
• Latin America 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
• Brazil
• Argentina
• Columbia

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.

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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. Latin America 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. Brazil 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. Argentina 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. Columbia 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
  • 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. Phillips 66 Company
  • 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: Latin America Electric Vehicle Fluid Market Share By Country (2016, 2021&2027F)
Table 9: Latin America Electric Vehicle Fluid Market Share By Product Type (2016 - 2021&2022E - 2027F)
Table 10: Brazil Electric Vehicle Fluid Market Share By Product Type (2016 - 2021&2022E - 2027F)
Table 11: Argentina Electric Vehicle Fluid Market Share By Product Type (2016 - 2021&2022E - 2027F)
Table 12: Columbia Electric Vehicle Fluid Market Share By Product Type (2016 - 2021&2022E - 2027F)
Table 13: Key Facts of Shell Plc Formerly Royal Dutch Shell Plc
Table 14: Key Facts of Valvoline Inc.
Table 15: Key Facts of Totalenergies SE
Table 16: Key Facts of Exxonmobil Corporation
Table 17: Key Facts of Petroliam Nasional Berhad (PETRONAS)
Table 18: Key Facts of Repsol S.A
Table 19: Key Facts of Eneos Corporation
Table 20: Key Facts of Castrol Limited
Table 21: Key Facts of The Lubrizol Corporation
Table 22: Key Facts of Afton Chemicals Corporation
Table 23: Key Facts of Motul
Table 24: Key Facts of Infineum International Limited
Table 25: Key Facts of Fuchs Petrolub SE
Table 26: Key Facts of BP Plc.
Table 27: Key Facts of 3M
Table 28: Key Facts of Phillips 66 Company
Table 29: Key Facts of TETRA technologies Inc.
Table 30: Key Facts of Kluber Lubrication
Table 31: 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: Latin America Electric Vehicle Fluid Market Size By Value 2016 to 2027F (In USD Million)
Figure 5: Latin America Electric Vehicle Fluid Market Share By Propulsion Type (2016, 2021&2027F)
Figure 6: Latin America Electric Vehicle Fluid Market Share By Vehicle Type (2016, 2021&2027F)
Figure 7: Brazil Electric Vehicle Fluid Market Size By Value 2016 to 2027F (In USD Million)
Figure 8: Brazil Electric Vehicle Fluid Market Share By Propulsion Type (2016, 2021&2027F)
Figure 9: Argentina Electric Vehicle Fluid Market Size By Value2016 to 2027F (In USD Million)
Figure 10: Argentina Electric Vehicle Fluid Market Share By Propulsion Type (2016, 2021&2027F)
Figure 11: Columbia Electric Vehicle Fluid Market Size By Value 2016 to 2027F (In USD Million)
Figure 12: Columbia Electric Vehicle Fluid Market Share By Propulsion Type (2016, 2021&2027F)
Figure 13: Market Attractiveness Index, 2021
Figure 14: Market Attractiveness Index, 2027F


Feed Phosphate Market Research FAQs

Latin America region is estimated to grow with 24.75% CAGR during the forecast period.

Electric vehicle fluid is segmented into four parts which are grease, brake fluid, heat transfer fluid and drive system fluid.

Heat transfer fluid type is expected to lead the Latin America EV fluids market.

Brazil is projected to dominate the Latin America electric vehicle fluid market.

Shell Plc, Valvoline Inc., Totalenergies Se, Exxonmobil Corporation, Fuchs Petrolub Se, And Petroliam NasionalBerhad (Petronas), Repsol S.A, Castrol Limited are some of the major players.
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Latin America Electric Vehicle Fluid Market Outlook, 2027

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