Market Size of 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-Major_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?
Electric Vehicle (EV) Fluids Market Analysis
The South American electric vehicle (EV) fluids market is expected to register a CAGR of over 20%, during the forecast period.
The market was hampered by the COVID-19 pandemic, as lockdowns, social distances, and trade sanctions triggered massive disruptions to global supply chain networks. The automotive industry, including sales and manufacturing of electric vehicles,witnessed a decline due to the halt in activities. However, the condition was expected to recover in 2021, which could benefit the market during the forecast period.
- Major factors driving the market studied are the increasing demand for electric vehicles among consumers in Brazil.
- The high cost of purchasing an electric vehicle is expected to hinder the growth of the market studied.
- Increasing government initiatives to promote the sale of EVs is likely to act as an opportunity in the future.
