List of Figures
Figure 1: Japan Electric Vehicle Fluids Market Size – By Value 2016 to 2027F (In USD Million)
Figure 2: Japan Electric Vehicle Fluids Market Share By Product Type (2016, 2021 & 2027F)
Figure 3: Japan Electric Vehicle Fluids Market Share By Propulsion Type (2016, 2021 & 2027F)
Figure 4: Japan Electric Vehicle Fluids Market Share By Vehicle Type (2016, 2021 & 2027F)
Figure 5: Market Attractiveness Index, By Product Type
Figure 6: Market Attractiveness Index, By Propulsion Type
Figure 7: Market Attractiveness Index, By Vehicle Type
Figure 8: Porter's Five Forces Meter of Electric Vehicle Fluids Industry in Japan
List of Table
Table 1: Japan Electric Vehicle Fluids Market Size of Grease (2016 to 2027F) in USD Million
Table 2: Japan Electric Vehicle Fluids Market Size of Brake Fluid (2016 to 2027F) in USD Million
Table 3: Japan Electric Vehicle Fluids Market Size of Heat Transfer Fluid (2016 to 2027F) in USD Million
Table 4: Japan Electric Vehicle Fluids Market Size of Drive System Fluid (2016 to 2027F) in USD Million
Table 5: Japan Electric Vehicle Fluids Market Size of BEV (2016 to 2027F) in USD Million
Table 6: Japan Electric Vehicle Fluids Market Size of PHEV (2016 to 2027F) in USD Million
Table 7: Japan Electric Vehicle Fluids Market Size of HEV (2016 to 2027F) in USD Million
Table 8: Japan Electric Vehicle Fluids Market Size of Passenger Vehicles (2016 to 2027F) in USD Million
Table 9: Japan Electric Vehicle Fluids Market Size of Commercial Vehicles (2016 to 2027F) in USD Million
Table 10: Key Facts of Company 1
Table 11: Key Facts of Company 2
Table 12: Key Facts of Company 3
Table 13: Key Facts of Company 4
Table 14: Key Facts of Company 5
Table 15: Key Facts of Company 6
Table 16: Key Facts of Company 7
Table 17: Key Facts of Company 8
The recent developments in the electric vehicle industry show that e-mobility is going nowhere, but rather it is going to stay as the issues regarding reliability, speeds, dependability, and driving ranges have been resolved to the satisfaction of the increasing number of electric vehicle users. With constant efforts in research and development, improvements and technology developments, market demand for electric vehicles is shifting in favour of electric vehicles over ICE vehicles. As one of the two cars sold by 2030 will be electrified globally as forecasted, the lubricant industry involved with the vehicles is moving to capitalize on this opportunity by diversifying into the E-fluids segment. E-fluids are the terms used for fluids and lubricants developed specifically for electric vehicles and are promoted with the value proposition of increasing the batteries and components' performance, durability, and range, which leads to improved performance of the electric vehicles. Japan has one of the largest automotive industries in the world and it is growing at an unprecedented rate after China, Europe, and the US in electric vehicles and their related industries such as electric vehicle batteries, electric vehicle charging infrastructure, and electric vehicle fluids. Light duty plug-in electric vehicles in Japan totalled over 3,00,000 vehicles legally registered in circulation at the end of 2020, with 1,56,000 being electric passenger cars, 1,36,000 being plug-in hybrids, and 9900 being light commercial vehicles. The Government of Japan (GOJ) has plans to increase the share of next generation vehicles in new vehicle sales to around 60% by 2030, of which BEVs and PHEVs account for nearly 30%, and HEVs should account for 30%.
According to the report titled "Japan Electric Vehicle Fluids (Heat Transfer, Break, Greece, Drive System) Market Overview, 2027", published by Bonafide Research, the market size for the electrical vehicle lubricant market in Japan is forecasted to grow at a CAGR of 23% during the predicted period. The electric vehicle fluids market is further divided on the various basis such as on the basis of product types, it is divided in to E-greases which are used as a sealant to keep the unwanted particles such as contaminants out of the parts of the electric vehicles and are used to control Noise, Vibration and Harness (NVH) levels in the electric vehicle, brake fluids which are used as a type of hydraulic fluids for asserting pressure and enhancing the braking forces during the application of the brakes. Nissan leaf which is largest selling electric car in Japan calls for using Genuine Nissan Super Heavy Duty Brake fluid or equivalent DOT-3 fluids which are also used in Tesla Cars. The remaining types are heat-transfer fluids or E-thermal fluids, which are further divided into three sub sections, which are air cooling, found in the Toyota Prius and Nissan Leaf with no e-thermal fluid, liquid cooling with e-thermal fluid in glycol-water based solutions found in Audi, BMW, and Tesla models, and immersion based (di-electric fluids), with oil-based solutions having minimum adoption because of their higher costs. The last ones are drive-system fluids, which are used in the reduction of energy losses in the drive-train system and the enhancement of the transmission efficiency of electric vehicles.
The electric vehicle market is further subdivided based on propulsion type into Battery Electric Vehicles (BEVs), which include a battery and an electric motor but no internal combustion engines.This results in a successful resolution of the environmental concerns raised by traditional fuel-powered vehicles.These BEVs have significantly low ranges for a single charge, but with advancements in the technology, they are improving over period of time. The other ones are plug-in hybrid electric vehicles (PHEVs) and hybrid electric vehicles (HEVs), which both have a battery as well as an ICE engine to power the battery. In PHEVs, the battery is used for short ranges and after the power is depleted, the engine is used. In HEVs, to obtain the best fuel economy, the battery is powered by the engine simultaneously during its function and energy is generated by brake fluids for hydraulic brakes in the absence of regenerative brakes, which is used to charge the battery. The fluid requirements are less in these vehicles due to their propulsion types in comparison to ICE-based conventional vehicles. For example, in BEVs, on an average, only 20 litres of fluid are required, which is almost one-third to one-fourth less than that of ICE-based vehicles' requirements of around 60-80 litres. But despite their differences, to one degree or another, they all rely on electric powertrains. It includes the fluids in them. The automotive industry knows how crucial they are because, once added to the sealed environments in these vehicles, they need to perform at optimum levels over the vehicle’s lifetime.
The market is further subdivided based on the type of electric vehicle, with passenger electric vehicles accounting for the majority of the market share, accounting for more than 93% of the market share in 2021.On the other hand, the commercial vehicle segment, including public transport such as EV buses and trucks, is expected to have increased market growth during the forecast period. The growth of the fluids market in Japan is attributable to recent developments with advances in technology by major lubricant industry players such as JXTG. Nippon Oil & Energy Corporation is pleased to announce the development of a new ENEOS EV FLUID series, which is specialized to suit the requirements of the various drive systems of electric and hybrid vehicles. These EV fluids are ENEOUS EV FLUID gear protection, HV AT, motor cooling, energy saving, isolation, and battery cooling fluids that are targeted specifically to improve the life of EVs and improve their performance.
In the manufacturing sector, supply chain disruption affects almost every segment of the industry, most especially automotive manufacturing, which accounts for 20% of the total export value in Japan. Most Japanese assembly manufacturers face difficulties in production operations for their factories both in China and in Japan because of the staggering disruptions to their supply chains, along with various restrictions on people’s movements. During the year 2020, due to the COVID-19 lockdowns all over the world, major automotive industries had to rework on their plans as there was an economic crisis, which led to the higher cost of electric vehicles and their products and services of the related industries. However, there has been positive news on EV adoption by new customers and citizens, due to increasing awareness regarding emission control. The Government of Japan (GOJ) along with other the governments of other countries of the world were adamant and committed to provide incentives on the sale of EVs and are now focusing on new ambition policies to promote further the sale of EVs.
Considered in this report
• Geography: Japan
• Historical year: 2016
• Base year: 2021
• Year of forecast: 2027
Aspects covered in this report
• Japan electric vehicle fluid market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Five force models.
• Top-profiled companies
• Strategic recommendation
By product type
• Grease fluids
• Brake fluids
• Heat-transfer fluids
• Drive-system fluids
By propulsion type
• Battery Electric Vehicle (BEVs)
• Plug-in Hybrid Electric Vehicles (PHEVs)
• Hybrid Electric Vehicles (HEVs)
By the vehicle type
• Passenger Vehicle type
• Commercial Vehicle type
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 list out the companies that are present in it. The secondary research consists of third-party sources such as press releases and annual reports of companies, analysing government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. After this, we have started making primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to electric vehicle fluids 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.