Market Size of North America Electric Vehicle (EV) Fluids Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 20.00 % |
| Market Concentration | Medium |
Major Players_Fluids_Market-_Key_Players.webp)
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
North America Electric Vehicle (EV) Fluids Market Analysis
The North American electric vehicle (EV) fluids market is estimated to register a CAGR of a over 20% during the forecast period.
The COVID-19 pandemic had a detrimental effect on the market as the demand for automobiles decreased substantially, thus decreasing the need for electric vehicles as well. However, the industry has picked up pace in the post-pandemic era and is expected to grow exponentially during the forecast period.
- Due to their low carbon emissions and excellent energy efficiency, electric vehicles are becoming increasingly popular, which is one of the key factors propelling the market ahead.
- The market being studied, however, is expected to be hampered by the initial high costs of electric vehicles compared to conventional petrol and diesel automobiles.
- Nevertheless, government policies to raise awareness and encourage the usage of electric vehicles will probably present opportunities for the industry under study.
- The United States accounted for the highest market share in the North American region and is expected to continue doing so in the forecast period.
