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South America Electric Vehicle Fluids Market Report and Forecast 2024-2032

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    Report

  • 153 Pages
  • April 2024
  • Expert Market Research
  • ID: 5960638
According to this report, the South America electric vehicle fluids market size reached a value of USD 76.77 million in 2023. Aided by the burgeoning adoption of electric vehicles across the region, the market is projected to further grow at a CAGR of 22.0% between 2024 and 2032 to reach a value of USD 474.77 million by 2032.

The South America electric vehicle fluids market growth in South America is primarily fueled by the increasing sales of electric vehicles, which is supported by a growing awareness of environmental issues among consumers and governments alike. Countries like Brazil, Argentina, and Chile are leading the charge, with various incentives such as tax reductions, green vehicle subsidies, and investments in EV infrastructure to encourage the adoption of electric vehicles.

As per the South America electric vehicle fluids market analysis, urbanisation and the consequent need for sustainable urban mobility solutions have prompted cities across South America to consider electric buses and taxis, which further drives the demand for EV fluids. The region is witnessing a shift towards electric public transportation systems to reduce urban air pollution and decrease dependency on imported oil.

Innovation is a key trend in the South America electric vehicle fluids market. Manufacturers are focusing on developing advanced fluid technologies that offer enhanced thermal management, better electrical properties, and reduced wear and corrosion for EV components. These innovations are critical for improving the efficiency and range of electric vehicles operating in the diverse climates found across South America, from the humid Amazon rainforest to the arid Andes mountains.

Biodegradable and environmentally friendly fluids are also gaining traction in the market. As per the South America electric vehicle fluids market outlook, as environmental regulations become stricter and consumer preferences shift towards sustainable products, fluid manufacturers are increasingly investing in green formulations that minimise ecological impact without compromising performance.

As the EV market expands in South America, there is a growing trend towards local production of EV fluids to reduce costs, improve supply chain resilience, and meet specific regional needs. This shift is driven by the potential cost savings on import tariffs and the ability to rapidly respond to local market demands.

Advanced diagnostics and monitoring technologies are being integrated into EV fluids in the electric vehicle fluids market in South America to provide real-time data on fluid conditions and performance. This integration helps in predictive maintenance, extending the life of EV components and ensuring optimal performance. Sensors that monitor viscosity, temperature, and contamination levels are becoming more common.

With the diverse climate conditions across South America, from tropical to temperate, there is an increasing demand for EV fluids that offer superior thermal management. Manufacturers are focusing on developing fluids that can operate efficiently in a wide range of temperatures and environmental conditions, enhancing battery performance and vehicle reliability.

Geographically, Brazil holds the largest South America electric vehicle fluids market share due to its sizeable automotive sector and ambitious government initiatives aimed at promoting electric vehicle adoption. Argentina and Chile are also notable markets, with both countries making significant strides in integrating EVs into their national transportation systems.

Market Segmentation

The market can be divided based on propulsion type, vehicle type, fill type, product type, and country.

Market Breakup by Propulsion Type

  • Battery Electric Vehicle
  • Hybrid Electric Vehicle
  • Plug-In Hybrid Electric Vehicle

Market Breakup by Vehicle Type

  • On-Highway Electric Vehicle
  • Off-Highway Electric Vehicle

Market Breakup by Fill Type

  • First Fill
  • Service Fill

Market Breakup by Product Type

  • Coolants
  • Engine Oils
  • Transmission Fluids
  • Greases
  • Others

Market Breakup by Country

  • Brazil
  • Mexico
  • Argentina
  • Others

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the South America electric vehicle fluids market. Some of the major players explored in the report are as follows:
  • 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

Table of Contents

1 Preface2 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 Snapshot7 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

Companies Mentioned

  • 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

Methodology

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