Electric Vehicle Lubricants Market Share

APAC Market Forecast

The Asia Pacific electric vehicle fluids market is projected to hold the largest revenue share of about 32% by the end of 2037. The market's expansion may be largely due to the increase in the number of registrations for electric vehicles in the Asia Pacific region, which is supported by favorable national government legislation. For example, it was expected that by 2020, there will have been approximately 1300 thousand registrations of electric cars, up from 1000 thousand in 2019.

European Market Statistics

The electric vehicle fluids market in the Europe region is anticipated to have a significant share of about 25% in the year 2037. The fast-growing infrastructure of electric vehicle charging stations is significantly responsible for the market's expansion. It is anticipated that France, Germany, the Netherlands, Norway, and the United Kingdom will be the top nations for the growth of electric car production and sales volume. For instance, the EU planned in 2021 to build approximately three million electric vehicle charging stations by the year 2029, up from just over a million by 2024.