Electric Cars are the future of Automotive Industry. They do not
require petroleum fuel and hence environment friendly as there is less gas
emission or zero emission. That is why these are also termed as green vehicles
sometimes. A consumer can choose from different types of electric vehicles such
as hydrogen, Plug-In Hybrid Electric
Vehicle (PHEV) and Hybrid Electric
Vehicle (HEV). Hydrogen cars use hydrogen fuel cells which create
electricity to drive the motor.
Plug-in hybrid cars combine an
electric battery with gasoline engine; the cars can go up to 30 to 35 miles
with the help of battery and then switches to internal combustion engine. On
the other hand, the fully battery powered electric vehicle can go up to 100
miles with 8 hours of charging. Despite having huge popularity these vehicles
have some drawbacks such as the charging time, battery weight & space,
cost and others.
Electric vehicles do not have any
internal combustion engine; their system is based on electric motor. There is
nothing much to lubricate as there is no piston in the vehicle. This creates an
uncertainty for the automotive lubricants industry and poses a question on the
future of lubricants and additives manufacturers. Engine oil is the major
lubricant used in gasoline and diesel engine vehicles for efficient
functionality of the internal combustion engine. Electric vehicles do not
require engine oil and this has created panic for big oil companies which
manufacture engine oil and its additives. Currently Global Engine Oil Additives Market is valued at $9.9 Billion, which can be dropped down
in future if the sales of electric vehicles continue to rise. According to
European Automobile Manufacturers Association (ACEA), electrically chargeable
vehicle share can reach up to 8% by 2025 in the global market. In U.S., the
sales of electric vehicles growing at an annual growth rate of 36.2% with
501,369 numbers (including PHEVs and HEVs) of vehicle sold in 2013.
The only satisfaction to the
lubricants manufacturers is that, it will take long time for this new age
vehicle to capture significant share in the automotive industry. Also the
electric vehicles require grease for its rotating devices, so the opportunity
or competition will exist on other lubricants like grease. Many lubricant
manufacturers are investing on research and development to bring changes in the
lubrication technology which can lower the emission of hazardous gases in the
environment. However, in the longer term, they have to discover other
opportunities in the market to save their presence.
For More Info on “Engine Oil Additives Market”, Follow the Below Link:
CONTACT:
Sanjay Matthews
Sales Manager
#: +1-614-588-8538 (Ext: 101)
