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South America Electric Vehicle Fluids Market Size, Share: By Propulsion Type: Battery Electric Vehicle, Hybrid Electric Vehicle, Plug-In Hybrid Electric Vehicle; By Vehicle Type: On-Highway Electric Vehicle, Off-Highway Electric Vehicle; By Fill Type: First Fill, Service Fill; By Product Type; Regional Analysis; Competitive Landscape; 2024-2032
South America Electric Vehicle Fluids Market Outlook
The South America electric vehicle fluids market size reached approximately USD 76.77 million in 2023. The market is further projected to grow at a CAGR of 22.0% between 2024 and 2032, reaching a value of USD 474.47 million by 2032.
Key Trends in the Market
Electric vehicle fluids efficiently and effectively help in enhancing the performance of the electric vehicles and are specifically engineered for powertrains of electric vehicles. These fluids stabilise the temperature of power electronics and batteries and are also responsible for cooling transmission systems.
- The rising efforts by various governments in the region to reduce emissions and promote green technologies by adopting commercial electric vehicles is supporting the South America electric vehicle fluids market growth.
- The increasing awareness about the necessity of using electric vehicle fluids for ensuring the long life and smooth functioning of vehicles is supporting the market expansion. These fluids provide thermal management and proper lubrication and are essential for optimising energy efficiency.
- The growing adoption of electric vehicles by the regional population owing to their relatively cost-efficient operational costs and rising environmental concerns is providing lucrative growth opportunities to the market. These fluids improve EV transmission efficiency and reduce energy losses.
South America Electric Vehicle Fluids Market Analysis
On the basis of propulsion type, the market is divided into battery electric vehicle, hybrid electric vehicle, and plug-in hybrid electric vehicle. Based on vehicle type, the market is bifurcated into on-highway electric vehicle and off-highway electric vehicle.
On the basis of fill type, the market is segregated into first fill and service fill. Based on product type, the market is classified into coolants, engine oils, transmission fluids, and greases, among others. On the basis of country, the South America electric vehicle fluids market segmentation includes Brazil, Mexico, and Argentina, among others.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Shell Plc
- TotalEnergies SE
- Valvoline Inc.
- Exxon Mobil Corp.
- Castrol Ltd.
- Petroliam Nasional Berhad (PETRONAS)
- ENEOS Holdings, Inc.
- Afton Chemical
- Repsol, S.A.
- The Lubrizol Corporation
- Others
Market Share by Product Type
Engine oils are expected to account for a significant South America electric vehicle fluids market share. This growth can be attributed to the ability of the engine oils to reduce wear and minimise friction. Low levels of the oil in the vehicle can have negative effects upon its performance and reduce its lifespan. Clean oil ensures the prevention of sludge buildup, the buildup can clog the narrow oil passages of the engine.
Market Share by Country
Brazil is anticipated to witness significant growth over the coming years. This growth can be attributed to the increasing investments by various manufacturers in the region towards the development of electric vehicles and enhancement of electric vehicle fluids functioning. The imposition of movement restrictions on vehicles operating on traditional fuels are bolstering the adoption of electric vehicles and propelling the South America electric vehicle fluids market demand.
Competitive Landscape
Exxon Mobil Corp., headquartered in Texas, United States, is a multinational oil and gas corporation that was founded in 1882. The company specialises in chemical, oil and gas, and petroleum, among others.
Castrol Ltd. is known for providing high performance electric vehicle fluids and lubricants for industrial, aerospace, marine, and automotive sectors. The company was founded in 1899 and is headquartered in Berkshire, United Kingdom.
Petroliam Nasional Berhad (PETRONAS) is one of the leading global energy companies that is committed towards powering the progress of the society in a sustainable and responsible manner. The company was founded in 1974 and is headquartered in Kuala Lumpur, Malaysia.
Other South America electric vehicle fluids market key players include Shell Plc, TotalEnergies SE, Valvoline Inc., ENEOS Holdings, Inc., Afton Chemical, Repsol, S.A., and The Lubrizol Corporation, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Propulsion Type |
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| Breakup by Vehicle Type |
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| Breakup by Fill Type |
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| Breakup by Product Type |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Electric Vehicle Fluids Market Overview
8.1 Key Industry Highlights
8.2 Global Electric Vehicle Fluids Historical Market (2018-2023)
8.3 Global Electric Vehicle Fluids Market Forecast (2024-2032)
9 South America Electric Vehicle Fluids Market Overview
9.1 Key Industry Highlights
9.2 South America Electric Vehicle Fluids Historical Market (2018-2023)
9.3 South America Electric Vehicle Fluids Market Forecast (2024-2032)
10 South America Electric Vehicle Fluids Market by Propulsion Type
10.1 Battery Electric Vehicle
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Hybrid Electric Vehicle
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Plug-In Hybrid Electric Vehicle
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
11 South America Electric Vehicle Fluids Market by Vehicle Type
11.1 On-Highway Electric Vehicle
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Off-Highway Electric Vehicle
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 South America Electric Vehicle Fluids Market by Fill Type
12.1 First Fill
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Service Fill
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
13 South America Electric Vehicle Fluids Market by Product Type
13.1 Coolants
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Engine Oils
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Transmission Fluids
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Greases
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 South America Electric Vehicle Fluids Market by Country
14.1 Brazil
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
14.2 Mexico
14.2.1 Historical Trend (2018-2023)
14.2.2 Forecast Trend (2024-2032)
14.3 Argentina
14.3.1 Historical Trend (2018-2023)
14.3.2 Forecast Trend (2024-2032)
14.4 Others
15 Market Dynamics
15.1 SWOT Analysis
15.1.1 Strengths
15.1.2 Weaknesses
15.1.3 Opportunities
15.1.4 Threats
15.2 Porter’s Five Forces Analysis
15.2.1 Supplier’s Power
15.2.2 Buyer’s Power
15.2.3 Threat of New Entrants
15.2.4 Degree of Rivalry
15.2.5 Threat of Substitutes
15.3 Key Indicators of Demand
15.4 Key Indicators of Price
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Shell Plc
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 TotalEnergies SE
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Valvoline Inc.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Exxon Mobil Corp.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Castrol Ltd.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Petroliam Nasional Berhad (PETRONAS)
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 ENEOS Holdings, Inc.
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Afton Chemical
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 Repsol, S.A.
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 The Lubrizol Corporation
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Electric Vehicle Fluids Market: Key Industry Highlights, 2018 and 2032
2. South America Electric Vehicle Fluids Market: Key Industry Highlights, 2018 and 2032
3. South America Electric Vehicle Fluids Historical Market: Breakup by Propulsion Type (USD Million), 2018-2023
4. South America Electric Vehicle Fluids Market Forecast: Breakup by Propulsion Type (USD Million), 2024-2032
5. South America Electric Vehicle Fluids Historical Market: Breakup by Vehicle Type (USD Million), 2018-2023
6. South America Electric Vehicle Fluids Market Forecast: Breakup by Vehicle Type (USD Million), 2024-2032
7. South America Electric Vehicle Fluids Historical Market: Breakup by Fill Type (USD Million), 2018-2023
8. South America Electric Vehicle Fluids Market Forecast: Breakup by Fill Type (USD Million), 2024-2032
9. South America Electric Vehicle Fluids Historical Market: Breakup by Product Type (USD Million), 2018-2023
10. South America Electric Vehicle Fluids Market Forecast: Breakup by Product Type (USD Million), 2024-2032
11. South America Electric Vehicle Fluids Historical Market: Breakup by Country (USD Million), 2018-2023
12. South America Electric Vehicle Fluids Market Forecast: Breakup by Country (USD Million), 2024-2032
13. South America Electric Vehicle Fluids Market Structure
Key Questions Answered in the Report
The market reached a value of approximately USD 76.77 million in 2023.
The market is projected to grow at a CAGR of 22.0% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 474.47 million by 2032.
The major market drivers include rising efforts by various governments in the region to reduce emissions and adopt green technologies and growing adoption of electric vehicles by the regional population.
The key trends fuelling the growth of the market include increasing awareness about the necessity of using electric vehicle fluids for ensuring the long life and smooth functioning of vehicles and increasing investments by various manufacturers in the region towards the enhancement of electric vehicle fluids functioning.
What are the major countries in the market for electric vehicle fluids, according to the EMR report?
The major countries in the market are Brazil, Mexico, and Argentina, among others.
The significant product types include coolants, engine oils, transmission fluids, and greases, among others.
The key players in the market are Shell Plc, TotalEnergies SE, Valvoline Inc., Exxon Mobil Corp., Castrol Ltd., Petroliam Nasional Berhad (PETRONAS), ENEOS Holdings, Inc., Afton Chemical, Repsol, S.A., and The Lubrizol Corporation, among others.
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