"The electric vehicle (EV) fluid market in the United States is a growing sector driven by the increasing adoption of electric vehicles across the country. As more consumers embrace electric mobility, there is a rising demand for specialized fluids designed to support the unique requirements of electric vehicles. These fluids play crucial roles in ensuring the efficient operation, performance, and longevity of various components within electric vehicles.With ambitions to release a wide range of electric models in the upcoming years, American automakers are actively investing in the electrification of vehicles. Because of this push towards electrification, there is a sizable market for EV fluids as automakers look for fluids that can satisfy the specific needs of their electric vehicle models. In order to create customised fluid solutions, collaborations between automakers and fluid manufacturers are essential.For sustainability and resource preservation, proper EV battery disposal and recycling are essential. Recycling is the process of removing useful components from old batteries and reusing them. It may be necessary to use particular fluid handling and recycling procedures in order to recycle EV batteries, which could have an impact on the market for EV fluids in terms of specialised recycling services and fluid management procedures.The EV fluid market places a lot of importance on environmental sustainability. Manufacturers are creating fluids that have less of an adverse effect on the environment, including less emissions and the utilisation of renewable and biodegradable resources. Eco-friendly EV fluid solutions are becoming more popular due to environmental factors, which also correspond with the industry's broad sustainability objectives. According to the report titled ""United States Electric Vehicle Fluid Market Overview, 2027"", published by Bonafide research electric vehicle fluid market of US is expected to grow at more than 27% CAGR during the forecasted period. The Lubricants and Fluids market is further bifurcated in to segments based on product types, propulsion types and vehicle types. Traditional fluids of Internal Combustion Engines are not considered suitable for Electric vehicles as they cause problems such as corrosion of parts in electric vehicles and other viscosity related problems which affect the life of the product and degrades its value. The electric vehicle fluids such as heat transfer fluid based on product type is used for controlling the temperature of Electric vehicle’s battery and power electronics. The grease fluids and brake fluids are used as a sealant to minimize leakage and to improve reliability and performance of hydraulic brakes in Electric vehicle respectively. The drive system fluids are used for efficient transmission and energy loss reduction in drivetrain systems. The heat transfer fluids are leading the market segment with over 75% market share are forecasted to retain its dominant position in the future years. The drive system fluids are expected to remain second dominant after heat transfer fluids with over 20% market share in 2021. According to the report, the fluid market is divided in to Battery Electric Vehicles (BEV), Plug-in Hybrid Electric Vehicles (PHEV) and Hybrid Electric Vehicles (HEV). BEVs are having dominant position in the market share capturing about 47% of market share in 2021 and they are expected to retain its dominant position during the forecasted period with over 58% market share. The reasons attributable to this are government initiatives and subsidies towards environmental concern arising from traditional engine-based fuel vehicles. BEVs fully operate on electrical battery and motors rather than any engine which supports zero emission policy of government. Though the end performance and range are not available in BEVs but constant efforts are being made in that direction to improve the efficiencies of BEVs and developing necessary charging stations infrastructure for it. As BEVs do not use combustion engines, they have very less requirement of fluids and their adoption rate among majority of the population is very high. HEVs have both engine as well as battery source, so fluid requirement in these types of Electric vehicles is high in comparison to others which is the major factor behind the growth of Electric vehicle fluids market in recent years. The Electric vehicle fluid market based on vehicle type is segregated in to passenger and commercial type of electric vehicles. Passenger vehicle have penetrated early in to the market so they have significant amount of market share of around 91% and has a dominant position in the market. It is expected to retain its dominant position during the forecasted period also. The Commercial sector consists of public transport facilities to promote environmental footprints and it consists of vehicle types such as EV trucks and buses which has increased its market share growth during the forecasted period. The considerable growth in Electric Vehicle fluid market is attributable to the reasons such as rising demand for efficient and durable fluids specifically targeted for electric vehicles. Generally, various components of an electric vehicle generate a lot of heat during the operation of the vehicle, such as the battery system and the e-motors. This has further led to the need for better thermal management in these vehicles. The new EV fluids have added additives and dielectric properties which makes them suitable for application in electric vehicle components. As this market is in nascent stage, there are various challenges such as high cost and viability of developing immersion cooling battery systems which are hindering the growth of this segment. Due to this, Automotive OEMs have partnered with various fluid providers for sourcing fluids for their electric vehicles to improve the driving experience, which in turn, can increase the electric vehicle sales, which is expected to drive the market growth during the forecast period. For example, Valvoline incorporation of United States has launched XEV, the brand’s first China-based release of hybrid, plug-in hybrid, and pure electric vehicle products. XEV' is a suite of EV and hybrid fluids – including battery protection fluid, motor oil, brake and transmission fluids. Most of the OEMs are developing active thermal management systems with e-thermal or cooling fluids for next-generation EVs such as future BEV models from Audi will have an active liquid thermal management system. Toyota will adopt the active cooling strategy for its high-capacity hybrid segment post-2022. The global automotive supply industry is heavily impacted by the COVID-19 crisis, as both the production and sales of EVs came to a sudden halt in most of the regions. These work stoppages led to a loss in the production of millions of vehicles across the world. According to the OICA, automobile production declined by around 23% in the first nine months of 2020 compared to the same period in 2019. This negatively affected the demand for lubricants in 2020.During the covid-19 pandemic when whole world was at standstill due to lock-downs and rigid protocols, traditional fuel-based automobile industry faced a sharp decline in their sales but in electric vehicle segment though the significant growth was not observed but its position not deteriorated so badly in comparison to other segments and same is the case with inter related segment Electric vehicles fluid market. Now from the last few months as the world is recovering from this pandemic, the electric vehicles fluid market is expected to grow at a very good rate due to large adoption of Electric vehicles by the people. Considered in this report. • Geography: United States • Historical year: 2016 • Base year: 2021 • Year of forecast: 2027 Aspects covered in this report • United States 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 in the report • Grease fluids • Brake fluids • Heat-transfer fluids • Drive-system fluids By Propulsion Type in the Report • Battery Electric Vehicles • Plug-in Hybrid Electric Vehicles • Hybrid Electric Vehicles By the vehicle type in the report. • 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, analyzing 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. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to EV 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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