Electric Vehicle Lubricants Market Size

Electric Vehicle Fluids Market size was valued at USD 1.55 billion in 2024 and is set to reach USD 27.38 billion by the end of 2037, registering around 24.5% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of electric vehicle fluids is assessed at USD 1.86 billion.

In order to obtain fluids for their electric vehicles and improve the driving experience, automotive OEMs have formed agreements with a number of fluid suppliers. This increase in sales of electric vehicles is predicted to drive market growth throughout the projection period. For instance, electric car sales increased to 6.6 million across the globe in the year 2022.

In addition to these, market trends like development of autonomous vehicles and escalating competition in the market for electric vehicles to seize opportunities brought about by the steady shift towards EVs are some significant factors anticipated to propel the market growth during the forecast period.

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of electric vehicle fluids is assessed at USD 1.86 billion.

The electric vehicle fluids market size was valued at USD 1.55 billion in 2024 and is set to reach USD 27.38 billion by the end of 2037, registering around 24.5% CAGR during the forecast period i.e., between 2025-2037. Growing automotive industry boosts the market growth and growing government initiatives to support electric car manufacturing will boost the market growth.

Asia Pacific industry is poised to hold largest revenue share of about 32% by 2037, impelled by increase in the number of registrations for electric vehicles in the region.

The major players in the market include 3M Company, Castrol Limited, Electrolube Limited, Kluber Lubrication MÃƒÂ¼nchen GmbH & Co. KG, M&I Materials Limited, PANOLIN Distribution AG, Valvoline Inc., Afton Chemical Corporation, Infineum International Limited.

Electric Vehicle Lubricants Market Size