Electric Vehicle Fluid Market: Industry Size and Share Expected to Grow Rapidly by 2028

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Exploring Opportunities in the Electric Vehicle
Fluid Market Industry Market Size and Growth
Projections
According to a TechSci Research report titled
"Electric Vehicle Fluid Market- Global Industry
Size, Share, Trends, Competition, Opportunity,
and Forecast, 2018-2028F," the global market for
electric vehicle fluids is experiencing rapid
growth due to increased adoption of green vehicle
technology and rising demand for thermal
stability management in electric vehicles. The
market is expanding due to improvements in
efficiency and range. Developing lubricants for
EVs is challenging as each original equipment
manufacturer has a unique electric motor design
that requires a specific lubricant for optimal
performance. Although electric vehicles are still
in the developmental phase for mass
manufacturing, electric vehicle fluids are
projected to experience strong growth in the
upcoming years. As modern electric vehicle
batteries become more energy-dense to exceed the
range of the vehicle, battery system overheating
has become a significant challenge for battery
producers. Liquid cooling is employed in electric
vehicles
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to regulate thermal energy, and new forms of
coolants are distributed throughout the battery
system to reduce the temperature in the battery
cells. These liquid cooling fluids are
considered more effective at transferring heat in
battery systems than air-cooling systems. The
market for electric vehicle fluids is also
experiencing growth due to the development of
numerous techniques and fluids. However, the
cost of EV fluids has increased with the
development of new technology, posing a
significant challenge to the growth of the
electric vehicle fluid market. Many
organizations are investing in reducing costs
while maintaining the quality and specification
of the fluids. The application of new fluids in
multiple areas of electric vehicles has led to an
upsurge in demand. With largest number of
electric vehicles on the road, the Asia-Pacific
region leads the market, followed by Europe and
North America. Additionally, several governments
throughout the world have imposed tough standards
and regulations for carbon emissions, which has
increased demand for electric vehicles.
Therefore, lubricant manufacturers are investing
in research and development of fluids for
electric vehicles. Based on propulsion type,
hybrid electric vehicles has more shares due to
large number of vehicles on road followed by
battery electric vehicles. Based on vehicle
types, majorities of share is captured by
passenger car segment followed by light
commercial vehicles. In Product types, heat
transfer fluids dominate the market which is
followed by drive system fluids, then
grease. Browse more than XX market data Figures
spread through XX Pages and an in- depth TOC on
"Global Electric Vehicle Fluid Market" -
https//www.techsciresearch.com/report/electric-ve
hicle-fluid- market/14259.html The global
Electric Vehicle Fluid Market can be segmented
based on propulsion type, vehicle type, product
type, distribution channel, region, and by
company. Based on propulsion type, it is divided
into Battery Electric Vehicles (BEVs), Hybrid
Electric Vehicles (HEVs), and Plug-In Hybrid
Electric Vehicles (PHEVs). Based on vehicle type,
the market is segmented into Passenger Car,
Light Commercial Vehicle, and Medium Heavy
Commercial Vehicle. Based on product type, the
Electric Vehicle Fluid Market is divided into
Grease, Heat Transfer Fluids, and Drive System
Fluid. Based on distribution channel is
it further divided into OEM and Aftermarket.
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• Some of the major companies operating in the
  global Electric Vehicle Fluid Market include
• Afton Chemicals
• Dober
• Engineered Fluids Inc.
• ExxonMobil Corporation
• FUCHS Petrolub AG
• Castrol Limited
• Freudenberg Chemical Specialities SE Co. KG
• MI Materials
• Petronas
• Shell plc.
• These are the key players developing advanced
  technologies and launching new products to stay
  competitive in the market. Other competitive
  strategies include mergers with tech firms, new
  product developments, and marketing activities
  to increase customer outreach.
• The maximum number of electric vehicle sales
  were made in the Asia-Pacific, which propelled
  this region to be at the top of the worldwide
  electric car market. As China plans to convert
  20 of its domestic market to electric vehicles
  by 2025, and 60 by 2030, the demand for electric
  vehicle fluid will
• rise in upcoming years. said Mr. Karan Chechi,
  Research Director with TechSci
• Research, a research-based global management
  consulting firm.
• Electric Vehicle Fluid Market- Global Industry
  Size, Share, Trends, Competition, Opportunity,
  and Forecast, 2017-2027 has evaluated the future
  growth potential of global Electric Vehicle
  Fluid Market and provides statistics
  information on market size, structure, and future
  market growth. The report intends to provide
  cutting-edge market intelligence and help
  decision makers take sound investment decisions.
  Besides, the report also identifies and

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analyzes the emerging trends along with essential
drivers, challenges, and opportunities in the
global automotive battery management system
market. Download Free Sample Report -
https//www.techsciresearch.com/sample-
report.aspx?cid14259
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