E-fluids Market Research Report‚ÄĒGlobal Forecast till 2030

E-fluids Market Research Report Information By Product Type (Coolants, Brake Fluid, Transmission Fluids, Greases) Vehicle Type (On-highway Vehicle, Off-highway Vehicle) Propulsion (Hybrid EV, Battery EV) Fill Type (First Fill, Service Fill) Forecast 2030

ID: MRFR/CnM/9574-HCR | 110 Pages | Author: Priya Nagrale | December 2023         

E-fluids Market Overview

The E-fluids market is projected to be worth USD 8.83 billion by 2030, registering a CAGR of 27.08% during the forecast period (2022–2030). The market was valued at USD 1.04 billion in 2021.

The enormously lucrative automotive oils, fluids, and lubricants sector is being negatively impacted by the decline in sales of internal combustion engine (ICE) vehicles. Traditional lubricants and hydraulic fluids have seen a precipitous decline in demand, leaving the lubricant industry and its aftermarket scrambling to diversify their revenue streams. But don't go writing their obituary just yet; electrified vehicles, such as hybrids, electrics, and fuel cell-powered ones, are on the rise as a powerful new lifeblood.

By 2030, it is predicted that 50% of all new automobile sales will be electric models. Not surprisingly, the lubricants business is expanding into e-fluids that claim to improve electric vehicle (EV) performance, range, and durability to cash in on this trend. Even if the fortunes of e-fluids improve, not all participants or products will share in this boon.

COVID-19 Impact on the e-fluids Market:

Since the COVID-19 (C-19) pandemic, the globe has been through unprecedented health crises and economic, social, and political upheaval. The international community is currently busy digesting a plethora of viewpoints on the immediate impact of C-19 on every sector. Sales of electric vehicles (EVs) were rising before the financial crisis, led by China and other industrialized countries in Europe and North America. Regulatory frameworks have been put in place that require significant emissions reductions. Governments have provided substantial financial support and incentives to get people to switch to EVs in the early phases of their expansion.

The global market for electric vehicles, except in China and Europe, shifted as consumers favored affordable products in the face of the COVID-19 pandemic. This resulted in a revival of conventional vehicle production. The possible shift influenced manufacturers' investment and production decisions in consumer preferences. In the end, the recovery of demand, the activation of supply chains, and the availability of labor were crucial to the resumption of production levels for both conventional and electric vehicles. Manufacturers in India slowed the production of electric vehicles (EVs). At the same time, they focused on restoring demand and making BS-VI vehicles, while EV production was further interrupted by restrictions on Chinese components. Lower disposable earnings and a trend toward cash saving dampened short-term demand for EVs.

Market Dynamics


  • Escalation in demand for Electric Vehicles

The market for electric vehicle fluids is anticipated to expand as the number of electric vehicles on the road rises. A battery pack holds the electricity used to power the electric vehicle's motor. Motors in electric vehicles benefit from the heat dissipation capabilities of the fluids used in their engines. Consequently, having a cold engine improves efficiency. In addition, fluids can be used to control the temperature to prolong a vehicle's service life.

Additionally, the number of electric vehicles in use worldwide was expected to reach 10 million in 2020, a 43% increase from 2019. It has been predicted that by 2040, electric vehicles will account for 58% of all passenger car sales worldwide, up from 28% in 2030. Besides, the California Air Resources Board (CARB) has released a program that mandates the creation and distribution of emission-free vehicles (ZEVs). Consequently, using fluids designed for electric vehicles helps ensure the longevity of their engines. As a result, the market for electric vehicle fluids is expected to expand as the number of electric vehicles on the road rises.


  • The higher initial cost of purchasing an electric vehicle

Currently available electric automobiles have a higher asking price than regular gasoline or diesel vehicle. This price premium may hamper their entry into the market. The prices at which EVs currently sell are still greater than those of conventionally-powered equivalents. The costly battery pack is a major factor, but the lack of economies of scale also plays a role. Increasing annual output from 10,000 vehicles to 500,000 can reduce per-unit production costs. Currently, PHEVs have even higher entry prices than non-hybrids due to the inclusion of a battery pack in addition to the traditional internal combustion engine and the electric engine. Hybrid electric vehicles save money because the conventional engine in them is smaller. Automobiles lose value as they age. The first few years of a car's existence are when depreciation hits the hardest. Vehicles' depreciation rates change for several reasons, not just the type of fuel or powertrain they use.


  • Stringent mandates made by the government are boosting R&D investment

Policy and regulation regarding EVs from governments around the world are dynamic. As a result, the proportion of hybrids, EVs, and ICEs with improved efficiency will change during the next decade. The market for fluids used in electric vehicles is evolving in response to increased investment in R&D. Development, introduction, and improvement of products. Processes are the goals of market-based R&D. Example: in 2021, Gulf Oil, an Indian producer of automotive lubricants and greases, introduced a new line of e-fluids for Hybrid and Electric (EV) passenger vehicles. These e-fluids are designed to boost the vehicle's efficiency and safety in various ways, such as by enhancing braking performance and reducing corrosion; besides, coolant is used to maintain a cool temperature in the batteries of electric vehicles.


  • Decarbonization and spread of zero-emission technologies

The commercial vehicle (CV) industry is making rapid strides toward decarbonization, driving the spread of low and zero-emission technologies. For many CV uses, electrification is still a practical choice. Since electric CVs' performance requirements for the various fluids utilized are different from those used in traditional Internal Combustion Engine (ICE) cars, the electrification of CVs will spur technological innovation. Electric vehicles will usher in a new subset of the lubricants market catered to the unique requirements of EVs in the business world. Electric vehicle fluids and lubricants are expanding due to massive investments in subsidies and infrastructure development by government and federal agencies to promote electric vehicles to reduce carbon dioxide emissions. The market for electric vehicle fluids and lubricants is expected to grow as 54 manufacturers in North America provide over 100 models of electric heavy commercial vehicles by 2022, as reported by CALSTART's Zero-Emission Technology Inventory. Fluid and lubricant sales will rise as heavy electric commercial vehicle sales increase. Heavy commercial vehicles have a greater need for repairs and replacement parts than regular electric cars, which could increase demand for aftermarket services.


By Product Type

  • Coolants

  • Brake Fluid

  • Transmission Fluids

  • Greases

By Vehicle Type

  • On-highway Vehicle

  • Off-highway Vehicle

By Propulsion

  • Hybrid EV

  • Battery EV

By Fill Type

  • First Fill

  • Service Fill

Regional Analysis

North America, Europe, Asia-Pacific, the Middle East, Africa, and Latin America make up the five main geographical segments of the e-fluids market. Recent estimates suggest that by 2025, eight countries (Germany, France, the United Kingdom, Norway, the Netherlands, China, the United States, and Japan) with the highest EV penetration levels will have sold a combined total of nearly 40 million liters of e-transmission fluids, e-thermal fluids, and e-greases.

With a value share of over 45%, Asia-Pacific is the market's clear frontrunner. The regional government has implemented incentives for the auto industry, battery and fluid suppliers, and supporting businesses to boost the region's electric car and electric vehicle component supply chain. By the Paris Accord of 2015, the European area plans to achieve net-zero carbon emissions by 2050. It is predicted that by 2030, half of all vehicles manufactured in Europe will be electric vehicles. European battery alliance, Charge anywhere, Wireless charging for electric vehicles, etc., are only a few initiatives launched by European governments.

Large-scale EV adoption may be seen in the North American market, where automakers have pledged to launch over 200 new EV models over the next few years. To illustrate how rapidly automotive performance is improving, Tesla has introduced the 'H1EV,' a vehicle with a range of approximately 750 miles and over 1200 horsepower that will likely contribute to the future expansion of the EV market. Discounts on purchase, environmental and import tariffs, and revenue-neutral 'feebates' that penalize polluting automobiles and reward clean ones are only some of the incentives for electric vehicles in many Latin American countries. Several Latin American firms have begun mass-producing cutting-edge fluids that can improve the performance and efficiency of electric and hybrid vehicles.

Competitive Landscape

The global e-fluids market is expected to showcase healthy growth throughout the forecast period. The global e-fluids market is fragmented, with several organized and unorganized players operating. Players in the e-fluids business are optimistic about their prospects because there is strong evidence that electric vehicle sales will continue to increase as economies improve. No one is more indicative of this than the oil corporations working around the clock to switch their conventional lubrication clients over to e-fluids to cash in on the burgeoning demand for these products. This is in turn a huge opportunity for producers of conventional motor oils, fluids, and lubricants, who are looking for alternatives to the declining traditional internal combustion engine (ICE) lubricant business.

Companies that specialize in lubricants have high hopes for the future of e-fluids. Many companies are broadening their lubricant products to include e-fluids in response to the rising number of electric vehicles on the road. Unlike Shell, Castrol, and ExxonMobil, which offer just e-transmission fluids, Total also provides e-thermal fluids, and Fuchs provides only e-transmission fluids at present.

Some key players operating in the global e-fluids market include Royal Dutch Shell Plc, ExxonMobil Corporation, BP Plc., TotalEnergies SE, FUCHS Petrolub AG, Repsol S.A., ENEOS Corp., Valvoline Inc., PTT, and Petronas.

Some of the key developments include:

  • In October 2020, Shell collaborated with commercial vehicle manufacturers to develop fluids tailored to each model's unique electric drivetrain. Shell's specialized fluids portfolio, Shell e-fluids, has been expanded to support battery electric (BEV) and fuel cell electric (FCEV) powertrains for commercial light, medium, and heavy cargo trucks.

  • In October 2021, Gulf Oil introduced many types of e-fluids designed for use in hybrid and electric vehicles. The Hinduja-group-owned company is introducing these products to the Indian market after they were initially released to overseas markets like Europe, the Middle East, and China earlier this year.

  • In September 2021, Infineum, a specialty chemical company, announced the release of a comprehensive range of dedicated e-mobility fluids explicitly designed for every form of electrified transmission application and covering all of the key models of hybrid and full battery electric vehicles.

  • July 2023 BP PLC announced that it is partnering with Virta Energy to develop a network of e-fluids dispensing stations in Europe.

Report Overview:

The report segments the e-fluids market by type, product type, vehicle type, propulsion, fill type, and region. In terms of insights, this report has focused on various levels of analysis such as market dynamics, value chain analysis, Porter's five forces, competitive landscape, and company profiles—all of which comprise and discuss views on the global e-fluids emerging and fast-growing segments, regions, and countries.

Objectives of the Study

  • To get a comprehensive overview of the global e-fluids market

  • To get wide-ranging information about the key factors driving the market and market opportunities

  • To gain information regarding the key players in the industry, their product portfolio, strategies, and key developments

  • To gain insights into the key country/region in which the market is growing

Intended Audience

  • Automotive Companies

  • E-Vehicle Manufacturers

  • Oil & gas Companies

  • Lubricant Manufacturers

  • Research Institutes

  • Academic Institutes

  • Government Organizations

Report Scope:

Report Attribute/Metric Details
  Market Size    2030: USD 8.83 Billion
  CAGR    27.08% CAGR (2022-2030)
  Base Year    2021
  Forecast Period    2022-2030
  Historical Data    2019, 2020
  Forecast Units    Value (USD Million) & Volume (Kilotons)
  Report Coverage    Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Product Type, Vehicle Type, Propulsion, and Fill Type.
  Geographies Covered   North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa
  Key Vendors   Royal Dutch Shell Plc, ExxonMobil Corporation, BP Plc., TotalEnergies SE, FUCHS Petrolub AG, Repsol S.A., ENEOS Corp., Valvoline Inc., PTT, and Petronas.
¬†¬†Key Market Opportunities ¬†¬†‚ÄĘ Escalating Sales of EVs across geographies To Generate Increased Revenues in the Mid-term Forecast Period
¬†¬†Key Market Drivers ¬†¬†‚ÄĘ An increase in application areas for new fluids in an EV ‚ÄĘ The need for electric vehicles will spur continuous innovation in related industries. ‚ÄĘ Blend of organic & inorganic strategies adopted by players to pull demand

Frequently Asked Questions (FAQ) :

The global e-fluids market would register a growth of 27.08%.

Growing EV sales will play a prominent role in taking the market forward.

The prices at which EVs currently sell are still greater than those of conventionally-powered equivalents. The costly battery pack is a major factor, but the lack of economies of scale also plays a role in restraining the market growth

Asia-Pacific would enjoy the upper hand in the e-fluids market, poised to grow rapidly.

China is poised to set the trend in the E-fluids market, with its ever-growing end-user industries present in the country.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players‚Äô financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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