As the automotive industry shifts gears towards sustainability and electrification, the demand for fluids and lubricants tailored for electric vehicles (EVs) is on the rise. The Asia-Pacific (APAC) region, being a hotbed for automotive innovation and production, stands at the forefront of this transition.

The APAC fluids and lubricants market for electric vehicles is projected to reach $2,363.8 million by 2031 from $182.8 million in 2022, growing at a CAGR of 32.89% during the forecast period 2022-2031.