Summary

Electric Vehicle Fluids Market Size
The global electric vehicle fluids market size was valued at $2.76 billion in 2025 and is projected to reach $11.04 billion by 2031, growing at a CAGR of 26.0% during the forecast period.

Electric Vehicle Fluids Market Overview
Electric Vehicle (EV) fluids are specialized lubricants designed to meet the unique needs of electric powertrains, which differ significantly from traditional internal combustion engines. These fluids include thermal fluids for battery cooling, transmission fluids, greases, and brake fluids, all engineered to enhance performance, efficiency, and longevity of EV components.
Companies like Castrol and Shell are actively developing these fluids to optimize electric vehicle operations; for instance, Castrol has partnered with Williams Advanced Engineering to create high-performance EV thermal fluids that support motorsport and other electrification projects, while Shell's E-Fluids are tailored for commercial vehicles, offering low conductivity and compatibility with high-voltage systems. The market for EV fluids is projected to grow substantially, driven by increasing demand for electric vehicles and the need for tailored lubricants that can withstand the operational challenges of electrification. By investing in R&D and collaborating with vehicle manufacturers, companies can not only enhance their product offerings but also position themselves as leaders in a rapidly evolving automotive landscape, ultimately benefiting from the anticipated growth in the electric vehicle market.

Electric Vehicle Fluids Market Dynamics
The electric vehicle fluids market is expected to witness significant growth in the future due to the increased demand for electric vehicles, advancements in battery technology, and partnerships between automotive OEMs and fluid suppliers. However, the high initial costs of electric vehicles compared to traditional combustion engine vehicles, lack of standardized specifications and testing for electric vehicle fluids, and limited consumer awareness regarding the benefits of specialized EV fluids are restraining the growth of the market.

Furthermore, innovation in fluid formulations to meet evolving needs of electric vehicle technology, expansion of manufacturing units for electric vehicles, and rising government regulations aimed at creating a sustainable EV environment are the key trends propelling the electric vehicle fluids market.

Increased Demand for Electric Vehicles is Driving the Electric Vehicle Fluids Market
The increased demand for electric vehicles is significantly impacting the electric vehicle fluids market, by prompting companies to innovate and launch specialized products tailored for the unique requirements of EV technology.
• For instance, in 2019, Shell introduced its E-Fluids line, which includes E-Transmission Fluids and E-Thermal Fluids specifically designed to optimize battery electric vehicles' performance and efficiency.
This initiative aligns with the rising number of automotive manufacturers producing EVs, as Shell aims to meet the growing demand for effective lubricants that enhance vehicle lifespan and reduce lifecycle emissions.
Government initiatives also play a crucial role; for example, various countries are implementing stricter emissions regulations and providing incentives for EV adoption, which further drives the need for specialized fluids that can enhance vehicle efficiency and performance. As the market for electric vehicles continues to expand projected to reach 280 million by 2040 according to the International Energy Agency companies are increasingly investing in R&D for EV fluids to capitalize on this growth opportunity.

By Propulsion Type, the Hybrid Electric Vehicles (HEVs) Segment is projected to be the Largest Segment in the Electric Vehicle Fluids Market
Hybrid Electric Vehicles (HEVs) is the largest segment in the electric vehicle fluids market, driven by the increasing adoption of hybrid technology, which combines traditional internal combustion engines with electric propulsion systems. This duality necessitates specialized fluids that can effectively manage the unique requirements of HEVs, such as temperature control and lubrication for both electric and mechanical components.
• For example, in June 2021, Castrol launched its Castrol ON range of advanced e-Fluids designed specifically for electric mobility, including e-Thermal Fluids and e-Transmission Fluids that enhance performance and efficiency in hybrid applications.
• Similarly, Valvoline introduced its EV Performance Fluids in early 2023, which include heat transfer fluids and drive system fluids specifically formulated to address common issues in HEVs, such as battery temperature management and powertrain performance.
• Additionally, Total launched its Total Quartz EV Fluid line in 2021, targeting both electric and hybrid vehicles with products designed to meet the cooling and lubrication needs of high-speed engines.
These initiatives reflect a broader trend supported by government incentives and regulations aimed at promoting hybrid technology as a transitional solution towards full electrification, further fueling the demand for specialized fluids that optimize vehicle performance and longevity in the rapidly expanding HEV market.

By Geography, Asia-Pacific Holds the Largest Share in the Market Revenue
Asia-Pacific holds the largest share of the electric vehicle fluids market, driven by the rapid adoption of electric and hybrid vehicles, supported by government initiatives and a strong manufacturing base. China, as the largest market, has implemented various policies to promote electric mobility, such as the New Energy Vehicle (NEV) mandate introduced in 2018, which aims to have 20% of all new vehicle sales be electric by 2025. This push has led to significant investments in EV production and infrastructure, creating a robust demand for specialized fluids that enhance vehicle performance and efficiency.
• Japan is also a key player, with companies like Toyota and Honda actively developing hybrid technologies and corresponding fluid formulations to optimize performance.
Furthermore, India's EV market is gaining momentum, with a reported 9% growth in the two-wheeler segment in 2024 due to increased availability of advanced models and government incentives aimed at reducing carbon emissions.
• The collaboration between Gulf Oil Lubricants India Ltd and Piaggio Vehicles Pvt Ltd, announced in September 2022, exemplifies the industry's response to this growing demand by providing a range of EV fluids tailored for hybrid applications.
Overall, the combination of supportive government policies, technological advancements, and increasing consumer awareness about sustainability is driving the substantial growth of the Electric Vehicle Fluids market in the Asia-Pacific region.

Key Target Audience:
• Automotive OEMs
• Fluid Suppliers
• Government Agencies
• Research and Development Institutions
• Consumers

List of the Key Players Profiled in the Report Includes:
• Royal Dutch Shell plc
• ExxonMobil Corporation
• BP plc.
• TotalEnergies SE
• FUCHS Petrolub AG
• Petronas
• ENEOS Corporation
• Repsol S.A.
• Valvoline Inc.
• PTT
Recent Developments:
• In April 2025, Royal Dutch Shell plc announced plans to install 50,000 on-street electric vehicle charging stations across the UK by 2025, supporting the infrastructure for electric vehicles and complementing its development of specialized electric vehicle fluids such as Shell E-Fluids designed for electric powertrains, including synthetic base oils and thermal fluids for batteries and motors.
• In January 2023, Valvoline Inc. launched its EV Performance Fluids product line tailored for electric vehicles, featuring heat transfer fluids for battery temperature management, drive system fluids for multi-speed transmissions, advanced brake fluids, and grease for EV motors and seal bearings, addressing key challenges like temperature regulation and corrosion prevention in EVs.

Market Segmentation:
The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:
Market by, Product Type:
• Engine oil
• Coolants
• Transmission fluids
• Greases

Market by, Vehicle Type:
• On-highway Electric Vehicles
• Off-highway Electric Vehicles
• Commercial
• Passenger

Market by, Propulsion Type:
• Battery Electric Vehicles
• Hybrid Electric Vehicles

Market by, Fill Type:
• First fill
• Service fill

Market by, Geography:
The electric vehicle fluids market report also analyzes the major geographic regions and countries of the market. The regions and countries covered in the study include:
• North America (The United States, Canada, Mexico), Market Estimates, Forecast & Opportunity Analysis
• Europe (Germany, France, UK, Italy, Spain, Rest of Europe), Market Estimates, Forecast & Opportunity Analysis
• Asia Pacific (China, Japan, India, South Korea, Australia, New Zealand, Rest of Asia Pacific), Market Estimates, Forecast & Opportunity Analysis
• South America (Brazil, Argentina, Chile, Rest of South America), Market Estimates, Forecast & Opportunity Analysis
• Middle East & Africa (UAE, Saudi Arabia, Qatar, Iran, South Africa, Rest of Middle East & Africa), Market Estimates, Forecast & Opportunity Analysis

The report offers insights into the following aspects:
• Analysis of major market trends, factors driving, restraining, threatening, and providing opportunities for the market.
• Analysis of the market structure by identifying various segments and sub-segments of the market.
• Understand the revenue forecast of the market for North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
• Analysis of opportunities by identification of high-growth segments/revenue pockets in the market.
• Understand major player profiles in the market and analyze their business strategies.
• Understand competitive developments such as joint ventures, alliances, mergers and acquisitions, and new product launches in the market.

ページTOPに戻る

Table of Contents

1 Market Introduction
1.1 Market Definition
1.2 Research Scope and Segmentation
1.3 Stakeholders
1.4 List of Abbreviations

2 Executive Summary

3 Research Methodology
3.1 Identification of Data
3.2 Data Analysis
3.3 Verification
3.4 Data Sources
3.5 Assumptions

4 Market Dynamics
4.1 Market Drivers
4.2 Market Restraints
4.3 Market Opportunities
4.4 Market Challenges

5 Porter's Five Force Analysis
5.1 Bargaining Power of Suppliers
5.2 Bargaining Power of Buyers
5.3 Threat of New Entrants
5.4 Threat of Substitutes
5.5 Competitive Rivalry in the Market

6 Global Electric Vehicle Fluids Market by, Product Type
6.1 Overview
6.2 Engine oil
6.3 Coolants
6.4 Transmission fluids
6.5 Greases

7 Global Electric Vehicle Fluids Market by, Vehicle Type
7.1 Overview
7.2 On-highway Electric Vehicles
7.3 Off-highway Electric Vehicles
7.4 Commercial
7.5 Passenger

8 Global Electric Vehicle Fluids Market by, Propulsion Type
8.1 Overview
8.2 Battery Electric Vehicles
8.3 Hybrid Electric Vehicles

9 Global Electric Vehicle Fluids Market by, Fill Type
9.1 Overview
9.2 First fill
9.3 Service fill

10 Global Electric Vehicle Fluids Market by, Geography
10.1 Overview
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 France
10.3.3 UK
10.3.4 Italy
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.2 Japan
10.4.3 India
10.4.4 South Korea
10.4.5 Australia
10.4.6 New Zealand
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Brazil
10.5.2 Argentina
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 UAE
10.6.2 Saudi Arabia
10.6.3 Qatar
10.6.4 Iran
10.6.5 South Africa
10.6.6 Rest of Middle East & Africa

11 Key Developments

12 Company Profiling
12.1 Royal Dutch Shell plc
12.1.1 Business Overview
12.1.2 Product/Service Offering
12.1.3 Financial Overview
12.1.4 SWOT Analysis
12.1.5 Key Activities
12.2 ExxonMobil Corporation
12.3 BP plc.
12.4 TotalEnergies SE
12.5 FUCHS Petrolub AG
12.6 Petronas
12.7 ENEOS Corporation
12.8 Repsol S.A.
12.9 Valvoline Inc.
12.10 PTT