According to a recent market study published by Growth Market Reports titled, “Global Automotive Brake Fluid Market by product types, fluid types, vehicle types, distribution channel and region: Size, Share, Trends and Opportunity Analysis, 2017-2027”, the market was valued at USD 2,690.4 million in 2019 and is expected to grow at a growth rate of around 2.0% by the year 2027.

Brake fluid performs a pivotal vital role in the functioning of the car, which helps the braking system generate the hydraulic force required for operation. Brake lines are mechanical components in the braking system that transfer the brake fluid from the main hydraulic cylinder to the brake calipers or wheel cylinders. When the brake is applied, the brake fluid in the brake lines forces the brake pad to press against the rotor, ensuring that the vehicle is decelerated safely and comfortably.

Request a free sample copy: https://growthmarketreports.com/request-sample/117

The global brake fluid market is driven by factors such as growing number of automotive original equipment manufacturers (OEMs) and car service providers, product innovations in automotive brake fluids, increasing demand for commercial vehicles, and emerging vehicle financing. Conversely, frequent need to change automotive brake fluid and replacement of traditional hydraulic braking systems by brake-by-wire are likely to restrain the market. Increasing consumer disposable income and growing demand for vehicles in developing countries is creating growth prospects for the market. Increased vehicle production and increased demand for lightweight vehicles are projected to boost the market for automotive brake fluids during the forecast period. The increase in demand for vehicles with advanced braking systems is also a key factor expected to drive the automotive brake fluid market during the forecast period. Strong standards on the automotive industry with regard to safety concerns by global regulators are expected to increase the market for automotive brake fluids.

As per Growth Market Reports industry analysts Rajat Verma, “The global automotive brake fluid market is anticipated to witness significant growth during forecast period 2021-2027. The rising demand for vehicles in countries such as China and India are expected to drive growth in the automotive brake fluid market. Several companies such as BASF are investing on production sites in these regions in order to meet local demand”.

Key Takeaways from the Study:

  • Based on fluid types, the automotive brake fluid market is bifurcated into petroleum-based and non-petroleum-based. The non-petroleum-based segment is expected to hold a significant share of the market and is projected to expand at a significant CAGR during the forecast period. The non-petroleum-based automotive brake fluid is preferred for most of the vehicles, as they have a high boiling point, has hygroscopic nature, and is widely available globally.
  • Based on fluid types, the automotive brake fluid market is bifurcated into petroleum-based and non-petroleum-based. The non-petroleum-based segment is expected to hold a significant share of the market and is projected to expand at a significant CAGR during the forecast period. The non-petroleum-based automotive brake fluid is preferred for most of the vehicles, as they have a high boiling point, has hygroscopic nature, and is widely available globally.
  • Based on sales channels, the automotive brake fluid market is classified as master distributors, warehouse distributors, auto parts stores, and others. The master distributors segment is expected to hold a significant share of the market, while the auto parts stores segment is projected to expand at a substantial CAGR during the forecast period. Manufacturers are focusing on marketing and tackling the shortcomings of their conventional franchised-dealer sales platforms. Manufacturers continue to increase their presence in the life-cycle supply chain of consumers to boost profitability and share in markets that are largely stagnant.
  • The global automotive brake fluid market is moderately consolidated in nature with the presence of key manufacturers located in North America, Europe and Asia Pacific. The threat of new entrants is expected to remain moderate during the forecast period. Opportunities for new players is moderate, as they need to adhere to a series of regulatory standards and inspections before product establishment.

Report Scope:

Report Metric

Details

Market Value in 2019

USD 2,690.4 Million

Market Growth Rate (from 2020 to 2027)

2.0%

Historical Data

2017 & 2018

Base Year

2019

Forecast Period

2020 - 2027

Units Considered

Value (USD Million) & Volume (Thousand Liter)

Market Segments

By Product Types, By Fluid Types, By Vehicle Types, By Distribution Channel, By Region

Regional Scope

North America, Europe, Asia Pacific, China, Latin America, Middle East & Africa (MEA)

Country Scope

U.S., Canada, Germany, France, Italy, U.K, Spain, Russia, Rest of Europe, China, Japan, South Korea
India, Australia, South East Asia (SEA), Rest of the Asia Pacific Brazil, Mexico, Rest of Latin America, GCC, Iran, South Africa, Rest of Middle East & Africa

Key Companies Profiled

BASF SE, Exxon Mobil Corporation, Chevron Corporation, China FAW Group Co., Ltd., China National Petroleum Corporation, Robert Bosch GmbH, Lubrication Engineers, COPTON Technology Co.,Ltd, Guangdong Delian Group Co., ltd., China Petrochemical Corporation, Kuwait Petroleum Corporation, Honda Motor Co., Inc, Prestone Products, DuPont, Gulf Oil L.P., Clariant, Motul, Castrol Limited, Knorr-Bremse AG

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience:

  • Supply-side: Automotive brake fluid manufacturers, raw material suppliers, primary respondents, and distributors.
  • Demand Side: Vehicle distributors, vehicle Suppliers, vehicle Rental Companies and auto parts store companies.
  • Regulatory Side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies.
  • Associations and Industry Bodies: International Standards Organization (ISO), Society of Automotive Engineers (SAE), Federal Motor Vehicle Safety Standards (FMVSS).