- The widespread application of automotive brake fluid continues to prompt manufacturers towards product innovation.
- Demand for automotive brake fluid is witnessing an upward trend also owing to its increased use in Sports Utility Vehicles.
- The APAC automotive brake fluid market is projected to remain highly attractive over the next couple of years.
Automotive brake fluid is an extremely essential element in modern vehicles. Market Research Future (MRFR) projects that the global automotive brake fluid market will exhibit a steady growth over next several years. As the name suggest, automotive brake fuel is used for maintaining the health of brakes – one of the most important components in a vehicle. Brake Fluids Continue to Find Widespread Application in Modern Vehicles.
Global Automotive Brake Fluid Market: Competition Analysis
Some of the top-notch companies profiled in the MRFR’s report include The China National Petroleum Corporation (China), Exxon Mobil Corporation (U.S.), Royal Dutch Shell plc (the Netherlands), Total S.A. (France), Qingdao Copton Technology Company Limited (China), Chevron Corporation (U.S.), Robert Bosch GmbH (Germany), China Petroleum & Chemical Corporation (China), Fuchs Petrolub SE (Germany) and Castrol (UK).
Increased Vehicle Sales Influencing the Global Automotive Brake Fluid Market
Automotive brake fluid is importance to keep a level of efficiency of brakes. Moreover, it ensures a seamless functioning of brakes. However, they are not permanent and require periodical changing. All modern vehicles require some sort of break fluid. Some of the advantages of brake fluids include superior lubrication, long brake lifecycle and increased braking efficacy of the brakes. However, most brake fluid that are currently used absorb moisture a drawback that can hamper parts and components that come in contact with such fluid. Not that market players are not aware of the issues, which is why several companies including Bosch, BASF and Castrol are investing in R&D to overcome the issue.
The widespread application of automotive brake fluid continues to prompt manufacturers towards product innovation. Over the years, a wide range of the brake fluids have come up. Latest brake fluid variants are highly efficient are capable of functioning in extreme freezing and boiling points. Introduction of all-weather brake fluid has made a positive impact on the market. These fluid variants are developed keeping in mind the impact they have on other automotive components and parts.
- 3(21) Investment Advisor – Fiduciary Services – Flat Fee of $50 / Hour of Consulting
- A beautiful, well-written article that seamlessly promotes your business
- Professional Fiduciary Services – $100 for 2 hours
- Publish 3 Press Releases Over 2 weeks for $21
- Publish 2 Press Releases for $16 – Best PR Deal on the Internet?
- Publish Your Press Release on Google & Communal News for Just $11!
- Social Media Management – Business Brand Basic Package
- 401k Plans Fiduciary Review Services – 4 Hour Consult
- Build 5 Page WordPress Website for only $199
- Excel Spreadsheets & Automation VBA/Macros
Demand for automotive brake fluid is witnessing an upward trend also owing to its increased use in Sports Utility Vehicle (SUVs) and crossovers. The vehicles fall under high-performance vehicle category that require frequent change of brake fluids. SUVs and crossovers have become extremely popular in recent years owing to their superior functionality. However, low product penetration in maintenance negligence somewhat hinders the market growth.
Global Automotive Brake Fluid Market: Segmental Analysis
The segmental analysis of the market has been conducted based on product type, fluid type, vehicle type, sales channel and region. Based on product type, the market has been segmented into silicone-based, glycol-based and castor oil-based. Based on fluid type, the market has been segmented into non-petroleum and petroleum. Based on vehicle type, the market has been segmented into off-road vehicle, commercial vehicle and passenger car. Based on sales channel, the market has been segmented into aftermarket and OEM.
Global Automotive Brake Fluid Market: Regional Analysis
On the basis of region, the market has been segmented into Asia Pacific (APAC), Europe, North America, and the Rest of the World (RoW). The APAC automotive brake fluid market is projected to remain highly attractive over the next couple of years. China’s increasing dominance in automotive manufacturing is boding well for market players in the region. Cost-benefits have continued to attract carmakers to China. Several leading car brands have established their manufacturing units in the country. Apart from China, countries such as South Korea and India are also joining the race. Widespread availability of human resource and favourable regulations makes Asia a suitable destination for manufacturers. Economic factors such as increased disposable income and changing lifestyle are also influencing market the APAC automotive brake fluid market.