Global Automotive Brake Fluid Market Size, Shares, Growth, Segments, Industry Analysis & Outlook 2018-2024

Our latest research report entitled Automotive Brake Fluid Market (by fluid types (petroleum and non-petroleum), vehicle type (passenger cars, SUVS, motorcycles), product type (into castor oil-based (pre-DOT, DOT 2), glycol-based (DOT 3, 4, 5.1) and silicone-based (DOT 5)) provides complete and deep insights into the market dynamics and growth of Automotive Brake Fluid. Latest information on market risks, industry chain structure Automotive Brake Fluid cost structure and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential Automotive Brake Fluid growth factors.

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Automotive Brake Fluids Market: Industry Insight

The automotive brake fluids are solutions that are used to aid the movement of the brake pedal to actuate the brake pads at the wheels. Brake fluid also lubricates and provides resistance to corrosion. The brake fluids maintain and enhances the performance of the breaking systems in the vehicles. These fluids are used in vehicle systems such as passenger cars, utility vehicles, SUVs, motorcycles, trucks, buses, and trailers. The global automotive brake fluid market is estimated to reach a value of USD 1,038.6 Million with a CAGR of 3.09% during the forecast period of 2018-2024.

Automotive Brake Fluids Market: Drivers and Restraints

The rise in the global vehicle sales owing to the growing urbanization in several developing nations and the increasing spending power of the consumers is the primary factor that driving the growth of automotive brake fluids market. Furthermore, high demand for vehicles coupled with the increased adoption of the advanced braking system over the globe is augmenting the growth of the market. However, fluctuation in the price of the raw material is likely to restrain the growth of automotive brake fluid market. Moreover, the expansion of the automotive industry in several emerging economies drives the growth of the automotive brake fluids market.

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Automotive Brake Fluids Market: Segmentation

The report on global automotive brake fluid market is segmented into fluid types, vehicle type, and product type.

The fluid type is further categorized into petroleum and non-petroleum. Among these fluid types, the non-petroleum-based fluids accounted for the largest share of 78.10 % in the global automotive brake fluid market. These products are vastly consumed in the automotive industry as it maintains a low level of compressibility even with varying temperatures, to accommodate different environmental conditions.

The vehicle type is further categorized into passenger cars, utility vehicles, SUVs, motorcycles, trucks and buses, and trailers. Among these vehicle types, passenger cars segment holds the largest share of 56% in the total addressable market while sport utility vehicles are the fastest growing segment. The high sales of passenger vehicles coupled with increased use of automotive brake fluid owing to its benefits such as prevention of corrosion in the brake system, protection against brake failure from vapor lock drive the growth of this segment in the automotive brake fluid market.

The product type is further categorized into castor oil-based (pre-DOT, DOT 2), glycol-based (DOT 3, 4, 5.1) and silicone-based (DOT 5). Among these product types, Glycol-based products emerged as the dominant product type segment in 2017 with 78% market share by value. They protect full metallic components in the braking system from potential system failure and corrosion damage.

Automotive Brake Fluids Market: Regional Insight

Asia-Pacific is the dominant region in the global automotive brake fluid market and is expected to reach a market size of USD 490.1 million by 2024. The Asia-Pacific automotive brake fluid market is anticipated to grow at the highest CAGR of 3.51% from the period of 2018 to 2024 owing to the ongoing urbanization, favorable macroeconomic and demographic trends, a burgeoning consuming class, and supportive regulations and policies. The growing automotive sales in the Asia Pacific region is primarily increasing the demand for the automotive brake fluid. China is already the world’s largest automobile market, with more than 19 million vehicles sold annually. North America is the second largest region in the global automotive brake fluid market owing to the presence of several global vehicle manufacturers and the growth of the ride-sharing industry in this region.

Automotive Brake Fluids Market: Competitive Analysis

The global automotive brake fluid market is highly competitive in nature is characterized by the presence of many global, regional, and local companies. The leading players in the global automotive brake fluid market include BASF, Castrol, Robert Bosch GmbH, Total S.A., Dow Automotive Systems, Delian Group, FUCHS, Exxon Mobil, Copton, Shenzhen Pingchi Industry Co and FAW Group Corporation and Shell.

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Reasons to Buy this Report:

• Comprehensive analysis of global as well as regional markets of the Automotive Brake Fluid.

• Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2024.

• Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.

• Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.

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