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Global Fluids and Lubricants Market for Electric Vehicle Worth US$ 3,618.9 Million by 2027 | Precise Market Intelligence Study
As per the recent market research report on Global Fluids and Lubricants Market for Electric Vehicle, offered by Precise Market Intelligence, the market was estimated to be at $1,098.7 million in 2020. The market is projected to grow at a CAGR of 19.6% during forecast period 2020-2027, and to reach $3,618.9 million by 2027.

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The market growth is attributed to the unmistakable sorts of liquids which are being received for upgraded application in electric vehicles are oils, heat move liquids, driver framework liquids, and brake liquids. The use of these sorts of liquids is in different segments, for example, e-engines, battery frameworks, course, consistent speed joints, power gadgets, gears, and the stopping mechanism of electric vehicles.

The growing market for electric vehicles (EV) has significantly impacted the transmission lubricant industry. Automotive original equipment manufacturers (OEMs) are making massive investments in developing EV technology. EV requirements are diverse and often unique to traditional lubrication challenges. New fluids and development approaches are required to address future needs.