As the electric vehicle market and hybrid vehicles penetration are gaining momentum, thus, there are implications for lubricant product markets, including lubricants for light vehicles, which could see a fall in the European countries and North America region by 2030.
The Client wanted to understand in detail how the increasing penetration of electric vehicles will impact on fuels and lubricant additive market and its manufacturers:
The main objective of the engagement was to understand the developments & penetration of electrical vehicles (FCV, hybrid vehicles, battery electric vehicles) and their impact on lubricant business, and automotive OEMs strategy in this space.
The implementation approach began with the engagement by acquiring an in-depth understanding of the company’s innovation reality, leveraging the framework. This helped us understand the context and prioritise the main gaps, and challenges, which were complemented by external benchmarks.
Client’s success details
This engagement helped the Client to understand the business impact of the increasing penetration of electric vehicles, changes in engine design innovations, divesting from ICEs, and upcoming regulations in this space. The following benefits and outcomes were delivered to the Client:
- Helped the Client in understanding the penetration rate of electric vehicles that would be a significant impact on the lubricant market as