Transparency Market Research in its new report titled, “Automotive Brake Fluid Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the automotive brake fluid market. The new report anticipates that the increasing production of vehicles and the rising demand for lightweight vehicles will boost the automotive brake fluid market during the forecast period i.e, 2018-2026. As per the report, rise in demand for vehicles with advanced braking system is a key factor that is expected to drive the brake fluid market for automotive during the forecast period. Stringent norms on automotive industries regarding safety concerns by global regulatory bodies is anticipated to augment the brake fluid market for automotive. Brake fluid is responsible for various braking activities such as better braking response, longer life, durability, and flexibility. This is likely to provide lucrative opportunities to the automotive brake fluid market. Changing braking fluid, replacement, high cost, and integration in the vehicle are some restraints of the automotive brake fluid market.
The report has segmented the automotive brake fluid market based on fluid type, product type, sales channel, vehicle type, and region. In terms of fluid type, the automotive brake fluid market is segmented into petroleum and non-petroleum fluid. On the basis of vehicle type, the automotive brake fluid market is divided into passenger vehicles (PVs), commercial vehicles (CVs), and off-road vehicles. The passenger vehicles segment is further sub-segmented into hatchbacks, sedans, multi-purpose vehicles (MPVs), and sport utility vehicles (SUVs). The commercial vehicles segment can be further split into lightweight commercial vehicles (LCVs) and heavy commercial vehicles (HCVs). Off-road vehicles are employed in various applications such as agriculture, mining, and construction. Expansion of these industries makes the off-road vehicle segment highly lucrative for the automotive brake fluid market.
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In terms of product type, the report has segregated the automotive brake fluid market into DOT 3, DOT 4, DOT 5, and DOT 5.1. On the basis of sales channel, the automotive brake fluid market is classified into Original Equipment Manufacturing (OEM) and aftermarket. In terms of regional perspective, the global automotive brake fluid market is segmented into North America, Europe, Asia Pacific, and Rest of World (RoW). Asia Pacific accounts for a dominant share of the global automotive brake fluid market, owing to the high rate of adoption of automotive braking fluid and expansion of the automotive sector in the region, leading to increased production of vehicles with automotive brake fluid, especially in China and India.
Major players operating in the global automotive brake fluid market are included in this report to give a better competitive analysis and these are Robert Bosch GmbH, BASF, Castrol, Delian Group, Total S.A., Dow Automotive Systems, Exxon Mobil, Copton, Pentosin, Shell, Shenzhen Pingchi Industry Co and FAW Group Corporation.
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