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: Middle East & Africa Electric Vehicle Fluid Market Size By Value2016 to 2027F (In USD Million)
Figure 5: Middle East & Africa Electric Vehicle Fluid Market Share By Propulsion Type (2016, 2021&2027F)
Figure 6: Middle East & Africa Electric Vehicle Fluid Market Share By Vehicle Type (2016, 2021&2027F)
Figure 7: UAE Electric Vehicle Fluid Market Size By Value2016 to 2027F (In USD Million)
Figure 8: UAE Electric Vehicle Fluid Market Share By Propulsion Type (2016, 2021&2027F)
Figure 9: Saudi Arabia Electric Vehicle Fluid Market Size By Value 2016 to 2027F (In USD Million)
Figure 10: Saudi Arabia Electric Vehicle Fluid Market Share By Propulsion Type (2016, 2021&2027F)
Figure 11: South Africa Electric Vehicle Fluid Market Size By Value 2016 to 2027F (In USD Million)
Figure 12: South Africa Electric Vehicle Fluid Market Share By Propulsion Type (2016, 2021&2027F)
Figure 13: Market Attractiveness Index, 2021
Figure 14: Market Attractiveness Index, 2027F
Featured Companies
1. 3M Company
2. Shell plc
3. BP p.l.c.
4. Valvoline Inc.
5. Totalenergies SE
More...
Penetration of electric vehicles in automotive industry is expected to disrupt well-established value chain for internal combustion engine vehicles. From engine parts to maintenance practices, electric vehicles vary from conventional vehicles. Several Middle Eastern countries, the respective governments are concentrating on renewable energy, clean transportation technologies, the implementation of economic and energy diversification plans. Tesla’s entry into Middle East & Africa electric vehicle market rattled the automotive industry with its all-electric range of vehicles. UAE and Dubai aim towards their long-term goal of electrification by launching several initiatives over the past few years to encourage sustainable choices. One often overlooked component of this shift involves fluids. Electric vehicles require specially manufactured and designed electric vehicle fluids to perform effectively. These fluid ranges include driveline fluids, coolants, transmission fluids, brake fluids, grease etc. The world of transport is becoming electric and electric vehicle fluids have significant role to play. As for the various ranges of electric vehicle fluids, electric vehicle transmission fluid helps to reduce energy losses in the driveline system and improve electric vehicle transmission effective. It also protects gears and extends the lifespan of electric vehicle. Electric vehicle thermal fluid helps to reduce the maximum temperatures and regulates it to an optimal state.
According to the research report “Middle East & Africa Electric Vehicle Fluids Market Outlook, 2027" published by Actual Market Research, electric vehicle fluids market is projected to have prominent market growth with 31.25% CAGR by 2027. Electric vehicle development in Middle East & Africa is directing towards the need for efficient and clean transportation system with efficient fluid ranges. Middle East & Africa region is segmented into three major countries including United Arab Emirates, Saudi Arabia and South Africa. Among these countries, United Arab Emirates is anticipated to have higher market share in terms of value by the forecast period. United Arab Emirates is one of the early adopters of electric vehicle and electric vehicle fluids. Although countries in Middle East & Africa region are rich in oil, adoption of electric vehicle was increasing at a slower pace. Middle East & Africa region promotes UAE as committed to low-carbon and suitability economy. Region has an ambitious goal to boost the electric vehicle in next 20 years. The electric vehicle revolution is still a difficult threat to the fluids industry. But additive companies are expected to look better placed to meet the challenge. It has been essential factor to reformulate the characteristics of electric vehicles.
According to the report, Middle East & Africa region is segmented into three major vehicle types including battery electric vehicle, plug-in hybrid electric vehicle and hybrid electric vehicle. In Middle East & Africa region, plug-in hybrid electric vehicle segment is expected to register higher market share with more than 50%, followed by battery electric vehicle segment. Middle East & Africa region is rich in oil which can be essential factor for the production of electric vehicle fluids as well as petroleum fluids has wide productivity. Plug-in hybrid electric vehicle consists of battery as well as conventional engine. This implies higher amount of fluids to ensure the enhanced performance and safety of the vehicle. In this region, charging stations are at emerging phase which are expected to witness prominent growth in upcoming years. Middle East & Africa population adopts the plug-in hybrid electric vehicle widely. Based on the vehicle type, electric vehicle fluids market is segmented into passenger vehicle and commercial vehicle. In Middle East & Africa region, passenger vehicle type is forecasted to lead the market with more than 80% market share. Middle East & Africa region has lack of commercial charging stations which is expected to increase by 2027. Due to easy adapt quality of passenger electric vehicle; it is highly adopted in entire region. Increasing awareness about carbon emissions and utilizing efficient fluids for greener technology are key factors for the rising market growth for commercial vehicles.
Impact of Covid-19 on Middle East & Africa Electric Vehicle Fluids market:
As a result of the Covid-19 pandemic and lockdown measures in the region, many fluid developers and manufactures had delayed production. Due to social distancing norms, supply chain for electric vehicle fluids in Middle East & Africa region was highly impacted. Lack of labor and work from home situations have resulted into declining figures for the market growth. By the end of 2020, industries initiated their production for electric vehicle fluids to meet the new and advanced requirements of customers. Covid-19 pandemic has directed the Middle East & Africa automotive industry towards the zero-emissions vehicle technology. Based on this concept, Middle East & Africa electric vehicle fluids market is forecasted to increase with significant market growth.
Major Companies present in the market:
Shell Plc, Valvoline Inc., Totalenergies Se, Exxonmobil Corporation, Fuchs Petrolub Se, And Petroliam NasionalBerhad (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: Middle East & Africa
• Base year: 2021
• Estimated year: 2022
• Forecast year: 2027
Aspects covered in this report
• Middle East & Africa 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 Arab Emirates
• Saudi Arabia
• South Africa
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.
Read More