The global electric vehicle fluid market is projected to reach USD 25.84 billion by 2034, expanding from USD 2.17 billion in 2025, at a robust CAGR of 31.80% during 2025–2034. The expansion is driven by the increasing adoption of electric vehicles, government initiatives supporting EV infrastructure, and technological advancements in EV components.
EV fluids, including engine oil, coolants, and transmission fluids, are crucial for improving performance, reducing wear, and extending the lifespan of electric and hybrid vehicles. Growing demand for eco-friendly and bio-based EV fluids is creating new opportunities for market players.
Key Highlights
-
Asia Pacific leads the global market, driven by strong EV adoption in China, India, Japan, and South Korea.
-
Europe is set to record significant growth due to government subsidies and strong luxury EV demand.
-
Hybrid Electric Vehicles (HEVs) dominate the propulsion segment in 2025, while Battery Electric Vehicles (BEVs) will grow at a notable CAGR.
-
Passenger EVs hold the largest market share, while commercial EVs are witnessing rapid adoption.
-
Engine oil remains the leading product segment, while coolants are expected to grow significantly.
Download a Sample of Our Market Intelligence: https://www.towardsautomotive.com/download-sample/1393
Market Trends in 2025
Partnerships
Leading lubricant companies are forming alliances with automotive manufacturers to co-develop specialized EV fluids.
Business Expansions
Players are investing in new production facilities to enhance manufacturing capacity and meet global EV demand.
Government Initiatives
Countries including the U.S., China, Germany, and Singapore are rolling out subsidies, incentives, and EV infrastructure support programs.
Propulsion Type Insights
-
Hybrid Electric Vehicles (HEVs): Dominated the market in 2025 due to increasing adoption in Germany, Norway, and Singapore. Synthetic oils and advanced coolants play a critical role in their performance.
-
Battery Electric Vehicles (BEVs): Expected to expand rapidly with increasing adoption in India, China, and the U.S., supported by government initiatives and advances in battery technology.
Vehicle Type Insights
-
Passenger EVs: Largest segment, fueled by rising fuel costs and customer preference for eco-friendly cars.
-
Commercial EVs: Growing at a robust pace due to increased adoption of electric buses and fleet electrification.
Product Insights
-
Engine Oil: Largest segment in 2025, boosted by demand for synthetic oils in hybrid vehicles.
-
Coolants: Expected to grow significantly due to their vital role in battery and drivetrain temperature management.
Regional Insights
-
Asia Pacific: Market leader with China recording over 6.4 million BEV sales in 2024. Supported by strong government backing and petrochemical industry investment.
-
Europe: Significant growth potential due to EV adoption incentives and the presence of global lubricant brands.
-
North America: Growing steadily with supportive policies and rising EV adoption in the U.S. and Canada.
Invest in Our Premium Strategic Solution: https://www.towardsautomotive.com/price/1393
Top Companies in the Electric Vehicle Fluid Market
1. Shell Plc
About: A global leader in oil, gas, and lubricants with growing investments in EV-specific fluids.
Products: Shell Helix, EV greases, and coolants.
Market Cap: Approximately USD 260 billion (2025).
2. BP Plc
About: A British multinational energy company with a strong focus on sustainability and EV fluids.
Products: Castrol ON EV fluids, lubricants, and thermal management solutions.
Market Cap: Approximately USD 110 billion (2025).
3. Exxon Mobil Corp.
About: One of the largest oil and gas companies, actively investing in EV lubrication solutions.
Products: Mobil EV thermal fluids, engine oils, and greases.
Market Cap: Approximately USD 500 billion (2025).
4. TotalEnergies
About: A French energy giant with diversified EV fluid offerings.
Products: Quartz EV fluids, transmission oils, and coolants.
Market Cap: Approximately USD 170 billion (2025).
5. PETRONAS (Petroliam Nasional Berhad)
About: Malaysia’s state-owned energy corporation with a strong global lubricant presence.
Products: PETRONAS Iona EV fluids, hybrid oils, and greases.
Market Cap: Estimated at USD 70 billion (2025).
6. ENEOS Corp.
About: Japan’s largest oil company focusing on innovation in EV lubricants.
Products: EV coolants, transmission fluids, and greases.
Market Cap: Approximately USD 35 billion (2025).
7. FUCHS Petrolub SE
About: A German lubricant specialist with a strong focus on EV-specific formulations.
Products: EV lubricants, greases, and coolants.
Market Cap: Around USD 15 billion (2025).
8. Repsol
About: A Spanish multinational energy company expanding its EV fluid product line.
Products: Repsol EV thermal fluids, lubricants, and greases.
Market Cap: Approximately USD 25 billion (2025).
9. Gulf Oil International Ltd
About: A global brand in lubricants and fluids with a growing EV product portfolio.
Products: Gulf EV Fluids, coolants, and greases.
Market Cap: Around USD 10 billion (2025).
FAQs
Q1. What is the size of the electric vehicle fluid market in 2025?
The market size is estimated at USD 2.17 billion in 2025.
Q2. Which region dominates the electric vehicle fluid market?
Asia Pacific dominates due to strong EV sales in China, India, and Japan.
Q3. Which product segment leads the market in 2025?
Engine oil holds the largest share, followed by coolants.
Q4. What factors are driving the market growth?
Key drivers include EV adoption, government initiatives, partnerships, and advancements in bio-based fluids.
Q5. Who are the top players in the EV fluid market?
Major players include Shell, BP, Exxon Mobil, TotalEnergies, PETRONAS, ENEOS, FUCHS, Repsol, and Gulf Oil.
Source : https://www.towardsautomotive.com/insights/electric-vehicle-fluid-market-sizing
Access our exclusive, data-rich dashboard dedicated to the respective market built specifically for decision-makers, strategists, and industry leaders. The dashboard features comprehensive statistical data, segment-wise market breakdowns, regional performance shares, detailed company profiles, annual updates, and much more. From market sizing to competitive intelligence, this powerful tool is one-stop solution to your gateway.
Access Now: https://www.towardsautomotive.com/contact-us
Become a Valued Research Partner with Us – Schedule a meeting: https://www.towardsautomotive.com/schedule-meeting
Request a Custom Case Study Built Around Your Goals: sales@towardsautomotive.com
About Us
Towards Automotive is a leading research and consulting firm specializing in the global automotive industry. We deliver actionable insights across key segments such as electric vehicles (EVs), autonomous driving, connected cars, automotive software, aftermarket services, and more. Our expert team supports both global enterprises and start-ups with tailored research on market trends, technology, and consumer behavior. With a focus on accuracy and innovation, we empower clients to make informed decisions and stay competitive in a rapidly evolving landscape.
Stay Connected with Towards Automotive:
- Find us on Social Platforms: LinkedIn | Twitter | Instagram
- Subscribe to Our Newsletter: Towards AutoTech
- Read Our Printed Chronicle: Automotive Web Wire
- Visit Towards Automotive for In-depth Market Insights: Towards Automotive
- APAC: +91 9356 9282 04 | Europe: +44 778 256 0738 | North America: +1 8044 4193 44
Get ahead of the trends – follow us for exclusive insights and industry updates: