automotive brake fluid market. The global Automotive Brake Fluid Market is expected to witness ~5.0% CAGR during the period, 2018–2023.
Market Highlights
Automotive brake fluids are the basis, on which hydraulic braking systems work. These braking systems have witnessed increased applications in modern vehicles, in comparison with mechanical brake systems. Automotive brake fluids are characterized by extreme boiling and freezing points, in order to maintain their flexibility in all weather conditions. While doing so, special care is taken so that the rubber components in the braking system are not damaged.
Growing production and sales of Sports Utility Vehicles (SUVs) and crossovers have resulted in an increase in demand for brake fluids. These vehicles, due to their robust nature, require frequent replacement of brake fluids, resulting in an increase in demand for fluids. This phenomenon is particularly observed in China, where a tremendous rise in the number of SUVs has been witnessed. However, the lack of brake and vehicle safety protocols in some countries and negligence regarding periodic maintenance could pose a serious threat to the growth of this market, over the forecast period.
Drivers: Automotive Brake Fluid
Market Research Analysis
In terms of region, the global market for automotive brake fluid is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. Europe is expected to command a significant share in the global automotive brake fluid market. This region, dominated by countries, such as Germany and France, are considered automotive hubs. Major brake fluid players, such as Robert Bosch GmbH, Castrol, Royal Dutch Shell plc, and Total S.A. are headquartered in this region.
The market in Asia-Pacific is projected to witness the highest growth over the next five years. Countries such as China and India are two of the largest automobile markets, in terms of sales in this region. These countries are expected to be at the forefront of the growth in this region, over the forecast period.
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Scope of the Report
This study provides an overview of the global automotive brake fluid market, tracking five market segments across four geographic regions. The report studies key players and provide a five-year annual trend analysis, which highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the Rest of the World. The report also provides a forecast, which focuses on the market opportunities for the next five years for each region. The scope of the study segments the global automotive brake fluid market by fluid type, product type, vehicle type, sales channel, and region.
By Fluid Type
- Petroleum
- Non-petroleum
By Product Type
- Castor Oil-based
- Glycol-based
- Silicone-based
By Vehicle type
- Passenger Car
- Commercial Vehicle
- Off Road Vehicle
By Sales Channel
- OEM
- Aftermarket
By Regions
- North America
- Asia-Pacific
- Europe
- Rest of the World
Key Players
The prominent players in the global automotive brake fluid market are Robert Bosch GmbH (Germany), The China National Petroleum Corporation (China), Castrol (UK), Exxon Mobil Corporation (U.S.), Fuchs Petrolub SE (Germany), Royal Dutch Shell plc (the Netherlands), China Petroleum & Chemical Corporation (China), Total S.A. (France), Chevron Corporation (U.S.), and Qingdao Copton Technology Company Limited (China).
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