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. Lubricating an electric vehicle is very different from lubricating a conventional internal combustion (IC) engine vehicle. In IC engine vehicles, oils are used to decrease engine friction.