South Korea Fluids and Lubricants for Electric Vehicles Market was valued at USD 0.2 Billion in 2022 and is projected to reach USD 0.6 Billion by 2030, growing at a CAGR of 16.9% from 2024 to 2030.
The Fluids and Lubricants for Electric Vehicles Market has witnessed significant growth as the demand for electric vehicles (EVs) continues to rise globally, including in South Korea. With an increasing number of consumers making the switch to electric vehicles, the need for high-quality, efficient fluids and lubricants tailored to EVs has become crucial. These specialized fluids are essential for the effective operation of electric drivetrains, batteries, and cooling systems in electric vehicles. But what exactly are the different types of fluids and lubricants required by the automotive industry, and why are they so important for the performance and longevity of electric vehicles?
The Fluids and Lubricants for Electric Vehicles Market is primarily driven by the necessity for high-performance coolants, battery thermal management fluids, and lubricants designed for the unique needs of EVs. While traditional vehicles rely heavily on engine oil, electric vehicles require specialized fluids that ensure smooth operation without the complications of combustion engines. For example, EVs use advanced cooling fluids to regulate the temperature of batteries, preventing overheating and extending battery life. These fluids must maintain thermal stability even in extreme conditions, which is crucial for EV performance.
In addition to cooling fluids, lubricants are essential for the moving parts of the electric motor and transmission system. The lack of traditional engine oil doesn’t mean EVs don’t require lubrication. Instead, specialized lubricants are used to reduce friction, prevent wear, and ensure the longevity of components in the drivetrain. The Fluids and Lubricants for Electric Vehicles Market also sees a demand for gear oils and transmission fluids that help optimize the power delivery of electric motors.
Industries involved in the production of electric vehicles, such as automotive manufacturers, suppliers of vehicle components, and aftermarket service providers, have all recognized the importance of these fluids and lubricants. The market continues to expand as manufacturers work to develop new, more efficient formulations. South Korean industries are at the forefront of this transformation, investing in cutting-edge technologies to create high-performance fluids and lubricants that meet the stringent requirements of the EV sector. As the number of electric vehicles on the road increases, the demand for specialized fluids and lubricants will continue to grow, fueling the market’s expansion in South Korea and beyond.
Get an In-Depth Research Analysis of the South Korea Fluids and Lubricants for Electric Vehicles Market Size And Forecast [2025-2032]
3M
Afton Chemicals
Engineered Fluids
Dober
Fuchs Petrolub
Infineum
Klüber Lubrication
M&I Materials Ltd
Motul
Panolin
Castrol
Electrolube
ExxonMobil
Lubrizol
Petronas
PolySi Technologies
Royal Dutch Shell
Total Lubricants
Valvoline
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Fluids and Lubricants for Electric Vehicles Market
Cooling Fluids
Transmission Fluids
Brake Fluids
Lubricating Oils
Greases
Hydraulic Fluids
Electric Motor
Battery Systems
Battery Electric Vehicles (BEVs)
Plug-in Hybrid Electric Vehicles (PHEVs)
Hybrid Electric Vehicles (HEVs)
Fuel Cell Electric Vehicles (FCEVs)
Automotive
Transportation and Logistics
Public Transport
Government and Defense
Automotive Parts Stores
Supermarkets and Hypermarkets
Specialty Stores
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Fluids and Lubricants for Electric Vehicles Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Fluids and Lubricants for Electric Vehicles Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Fluids and Lubricants for Electric Vehicles Market, By Type
6. South Korea Fluids and Lubricants for Electric Vehicles Market, By Application
7. South Korea Fluids and Lubricants for Electric Vehicles Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Fluids and Lubricants for Electric Vehicles Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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