London, UK: Massive changes are set to take place over the next decade that will rock the lubricants industry, according to a new report from Interact Analysis. Electric vehicles have less need for lubricants as they have fewer moving parts, so the market will get smaller over time.
But new lubricants and formulations will be needed to optimise the performance of new fuel vehicles, providing fresh opportunities for the future. Interact Analysis’ new report is called, Global Truck, Bus and Off-highway Vehicle Electrification and Alternative Fuel: How will electrification and alternative fuels shape the commercial vehicle fuel and lubricant markets?
The report says that a rapid uptake of battery electric trucks and buses is going to reduce demand for diesel fuel.
Tailored e-lubricants could provide a potential new market for manufacturers, with products that enhance the performance and longevity of moving parts, with some companies already entering the arena or developing new formulations. With the importance of reducing friction and energy consumption even more important for new fuel vehicles, in order to conserve battery life or reduce time between refueling, there are very real opportunities for those companies that create new formulations for zero emission vehicles.
Hydrogen could provide more opportunities too, as there is a greater need for lubricants, and the engines are more similar to conventional diesel engines.
