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North America Electric Vehicle Fluid Market Outlook, 2027

North America Electric Vehicle Fluid Market Outlook, 2027

Electric vehicle is one of the fastest growing transportation technologies in the automotive industry. North America Government policies for reducing carbon dioxide emissions and fuel dependency are driving factors for higher adoption of electric vehicle. North America automakers have announced their intentions to introduce more than 200 new electric vehicle models in the next few years. ‘North America electric vehicle’ (electric vehicle manufacturer) is a team of automotive experts that specializes in designing electric vehicles. Recently, company has launched ‘H1EV’ powered by Tesla with approximate 750 mile range and over 1200 horsepower. Traditionally, fluids were not concerning element for conventional vehicles. But for electric vehicle industry, specially engineered fluids play vital role to improve the performance of vehicle. Electric vehicle fluids manage proper lubrication with thermal management and electrical qualities with various electric vehicle components (e-motors, gearboxes, clutches, bearings etc). Electric vehicle fluids are also effective to provide optimized energy efficiency and longer range. In North America, electric vehicle industry is witnessing various technological developments; with that fluids continue to encounter new obstacles. Fluid design for e-motor and battery cooling also offers greater potential to electric vehicle.

According to the research report “North America Electric Vehicle Fluids Market Outlook, 2027" published by Bonafide Research, electric vehicle fluids market is projected to have increasing market growth with 27.40% CAGR by 2027. The growing population of electric vehicles, increase in life-time of lubricants and stringent environmental regulations are key factors for growing electric vehicle fluids market. North America electric vehicle fluids market is segmented into three major countries which are United States of America, Canada and Mexico. Among these countries, United States of America is anticipated to lead the electric vehicle fluids market with higher market share during the forecast period. The USA is the largest market in North America region and third largest market worldwide for e-mobility. E-mobility is a general term referring developments of electric powered drivetrains which are specifically designed to reduce carbon emissions. Many industries present in United States of America have announced their goal to have 40% to 50% production of electric vehicle and essential fluids by 2030.

According to the report, North America electric vehicle fluids market is segmented into four major fluid types which are grease, brake fluid, heat transfer fluid and drive system fluid. In North America region, a heat transfer fluid segment is projected to lead the market share with more than 85%. Since the mass-introduction of electric vehicle, battery fire incidents are major constraints for electric vehicle market growth. In Merida, Mexico there had been a plug-in hybrid electric vehicle fire incident in October 2013. Heat transfer fluid is an essential component to overcome this threat. Heat transfer fluid segment is utilized to keep the battery temperature at a particular state and optimizes overall vehicle temperature. Grease, brake fluid and drive system fluid segments are also anticipated to have increasing growth during the forecast period. Further electric vehicle fluids market in North America is segmented into passenger type and commercial type of vehicles. Passenger type of electric vehicle is forecasted to have maximum market share by 2027. Major population across the country is directed towards the passenger/personal type of vehicle. It provides convenience to the customers and trust factor is higher for passenger type of vehicles in North America. Based on the propulsion type, North America electric vehicle fluids market is bifurcated into battery electric vehicle, plug-in hybrid electric vehicle and hybrid electric vehicle. Among these segments, battery electric vehicle is projected to have maximum market share with more than 50% during the forecast period. North America population prefers battery electric vehicle more than other segments as it is easy to adapt technology and easy to maintain vehicle type. In addition to that, higher petroleum fluid price is also a restraining factor for plug-in hybrid electric vehicle and hybrid electric vehicle.

Impact of Covid-19 on North America Electric Vehicle Fluids market:
The North America region was heavily affected by the Covid-19 pandemic. The production of electric vehicles and electric vehicle fluids were significantly affected by due to disruption in the supply chain processes for North America region. North America fluids market witnessed change in customer preference due to Covid-19 outbreak. Though, this effect varies from country to country. Major countries like USA and Canada continued their production by the end of 2020 with more advancement. Many companies and industries initiated production of electric vehicle fluids at a higher pace in North America region. Increasing awareness about carbon emissions and need for clean and efficient energy tends the overall market towards the electric vehicle fluids.

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: North America
• Base year: 2021
• Estimated year: 2022
• Forecast year: 2027

Aspects covered in this report
• North 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
• United States of America
• Canada
• Mexico

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.

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. North 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. US Electric Vehicle Fluid Market Outlook
6.3.1. Market Size by Value
6.3.2. Market Share
6.4. Canada Electric Vehicle Fluid Market Outlook
6.4.1. Market Size by Value
6.4.2. Market Share
6.5. Mexico Electric Vehicle Fluid Market Outlook
6.5.1. Market Size by Value
6.5.2. Market Share
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. TETRA technologies Inc.
9.17. Gulf Oil
10. Strategic Recommendations
11. Disclaimer

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: North America Electric Vehicle Fluid Market Size By Value 2016 to 2027F (In USD Million)
Figure 5: North America Electric Vehicle Fluid Market Share By Propulsion Type (2016, 2021&2027F)
Figure 6: North America Electric Vehicle Fluid Market Share By Vehicle Type (2016, 2021&2027F)
Figure 7: US Electric Vehicle Fluid Market Size By Value2016 to 2027F (In USD Million)
Figure 8: US Electric Vehicle Fluid Market Share By Propulsion Type (2016, 2021&2027F)
Figure 9: Canada Electric Vehicle Fluid Market Size By Value 2016 to 2027F (In USD Million)
Figure 10: Canada Electric Vehicle Fluid Market Share By Propulsion Type (2016, 2021&2027F)
Figure 11: Mexico Electric Vehicle Fluid Market Size By Value 2016 to 2027F (In USD Million)
Figure 12: Mexico Electric Vehicle Fluid Market Share By Propulsion Type (2016, 2021&2027F)
Figure 13: Market Attractiveness Index, 2021
Figure 14: Market Attractiveness Index, 2027F


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: North America Electric Vehicle Fluid Market Share By Country (2016, 2021&2027F)
Table 9: North America Electric Vehicle Fluid Market Share By Product Type (2016 - 2021&2022E–2027F)
Table 10: US Electric Vehicle Fluid Market Share By Product Type (2016 - 2021&2022E–2027F)
Table 11: Canada Electric Vehicle Fluid Market Share By Product Type (2016 - 2021&2022E–2027F)
Table 12: Mexico 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 ChemicalsCorporation
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 TETRA technologies Inc.
Table 29: Key Facts of Gulf Oil

Report Title: North America Electric Vehicle Fluid Market Outlook, 2027


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