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Electric vehicle (EV) fluids are crucial for the efficient operation and longevity of EVs. These specialized fluids include coolants, lubricants, and thermal management solutions designed specifically for electric powertrains and batteries. As the demand for electric vehicles grows, so does the need for advanced EV fluids that enhance performance and sustainability. In this article, we highlight the top 10 companies leading the electric vehicle fluids market, providing insights into their headquarters, growth rates, and recent revenues.
The latest research study on the global Electric Vehicle Fluids market finds that the global Electric Vehicle Fluids market reached a value of USD 1162.4 million in 2023. It’s expected that the market will achieve USD 20470.02 million by 2030, exhibiting a CAGR of 50.65% during the forecast period.
Global Growth Insights unveils the top Global Electric Vehicle Fluids Companies:
1. Afton Chemicals
Headquarters: Richmond, Virginia, USA
CAGR: 5.8%
Revenue (Past Year): $2.4 billion
Afton Chemicals is a global leader in the production of high-performance additives and fluids for various industries, including automotive. Their innovative EV fluid solutions are designed to meet the specific needs of electric vehicles, ensuring optimal performance and protection.
2. Petronas
Headquarters: Kuala Lumpur, Malaysia
CAGR: 6.1%
Revenue (Past Year): $50 billion
Petronas is a major player in the global energy sector, offering a range of advanced lubricants and fluids for electric vehicles. Their products are engineered to provide superior thermal management and efficiency, contributing to the overall performance of EVs.
3. ExxonMobil Corporation
Headquarters: Irving, Texas, USA
CAGR: 5.9%
Revenue (Past Year): $413.7 billion
ExxonMobil Corporation is a global leader in energy and chemical products. Their EV fluids are designed to enhance the efficiency and longevity of electric powertrains, ensuring reliable performance under various operating conditions.
4. Engineered Fluids Inc.
Headquarters: Seattle, Washington, USA
CAGR: 6.3%
Revenue (Past Year): $150 million
Engineered Fluids Inc. specializes in the development of advanced dielectric coolants for electric vehicles. Their innovative solutions provide efficient thermal management, ensuring optimal battery performance and safety.
5. FUCHS Petrolub AG
Headquarters: Mannheim, Germany
CAGR: 5.7%
Revenue (Past Year): $3.0 billion
FUCHS Petrolub AG is a leading independent manufacturer of lubricants and related specialty products. Their EV fluid solutions are designed to meet the specific requirements of electric vehicles, providing superior protection and efficiency.
6. M&I Materials
Headquarters: Manchester, UK
CAGR: 6.4%
Revenue (Past Year): $120 million
M&I Materials specializes in advanced materials and fluids for various industries, including electric vehicles. Their innovative thermal management solutions ensure efficient cooling and protection of EV powertrains and batteries.
7. Shell plc
Headquarters: London, UK
CAGR: 5.5%
Revenue (Past Year): $381.3 billion
Shell plc is a global energy leader, offering a range of advanced fluids and lubricants for electric vehicles. Their products are designed to enhance the performance and reliability of EVs, contributing to sustainable mobility solutions.
8. Castrol Limited
Headquarters: Swindon, UK
CAGR: 5.6%
Revenue (Past Year): $9.0 billion
Castrol Limited, a subsidiary of BP, is renowned for its high-performance lubricants and fluids. Their EV fluid solutions are engineered to provide superior thermal management and efficiency, ensuring optimal performance of electric powertrains.
9. Dober
Headquarters: Woodridge, Illinois, USA
CAGR: 6.0%
Revenue (Past Year): $200 million
Dober specializes in advanced chemical solutions for various industries, including automotive. Their innovative EV fluids are designed to meet the unique needs of electric vehicles, providing efficient cooling and protection.
10. Freudenberg Chemical Specialities SE & Co. KG
Headquarters: Munich, Germany
CAGR: 5.7%
Revenue (Past Year): $2.5 billion
Freudenberg Chemical Specialities SE & Co. KG offers a range of advanced lubricants and fluids for electric vehicles. Their products are designed to enhance the performance and longevity of EV powertrains, ensuring reliable and efficient operation.
Conclusion
The electric vehicle fluids market is essential for the advancement of sustainable mobility solutions. The top 10 companies highlighted in this article are leading the way in providing innovative and high-performance fluids that meet the specific needs of electric vehicles. As the demand for EVs continues to grow, these companies are well-positioned to drive future advancements and set new standards in the industry.