You are currently viewing Global Automotive Brake Fluid Market to be Driven by the Increasing Sales of Commercial and Passenger Automobiles in the Forecast Period of 2023-2028

Global Automotive Brake Fluid Market to be Driven by the Increasing Sales of Commercial and Passenger Automobiles in the Forecast Period of 2023-2028

The new report by Expert Market Research titled, ‘Global Automotive Brake Fluid Market Price, Report and Forecast 2023-2028’, gives an in-depth analysis of the global automotive brake fluid market, assessing the market based on its segments like fluid types, product types, applications, and major regions.

The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

Automotive Brake Fluid Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast

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The key highlights of the report include:

Market Overview (2018-2028)

• Forecast CAGR (2023-2028): 2.40%

The demand for automotive brake fluid is likely to be fuelled by the increasing sales of commercial and passenger automobiles owing to the rising disposable income and rapid urbanisation. In addition to this, the rising number of accidents and growing incidences of reckless driving are anticipated to propel the demand for efficient braking system, thereby, invigorating the automotive brake fluid market.

Moreover, the increasing investments by the automobile users towards the maintenance of their vehicle are anticipated to boost the demand for automotive brake fluids owing to the fact that they can absorb significant amount of moisture over a period of time, thereby, downgrading the quality of the braking system.

Geographically, North America accounts for a significant share in the market owing to the advanced automotive infrastructure in the United States of America and Canada.

Automotive Brake Fluid Industry Definition and Major Segments

Automotive brake fluid is defined as a type of hydraulic fluid which is applied in the hydraulic brakes in an automobile. Automotive brake fluid transfers the force applied by the driver on the brake pedal into pressure in order to amplify the braking force. Brake fluid is important for an automobile as the incompressibility of the liquid makes the stopping process of an automobile effective, timely, and efficient.

Moreover, the performance of brake fluid is inversely proportional to the amount of moisture it gets due to aging. Brake fluids containing more moisture are called hygroscopic.

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On the basis of fluid type, the market can be segmented into:

• Petroleum
• Non-Petroleum

The different product types, based on which the market has been segmented include:

• DOT 3
• DOT 4
• DOT 5
• DOT 5.1

Based on application, the market has been classified into:

• Light Commercial Vehicles
• Passenger Cars
• Others

The regional markets for automotive brake fluid include:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Automotive Brake Fluid Market Trends

The key trends in the global automotive brake fluid market include the technological advancements in the automotive industry aimed towards enhancing the braking systems in order to provide security and comfort to the passengers. Meanwhile, the stringent government regulations to bolster the safety of automobile consumers and to enhance the reliability of the public transport system is likely to be another key trend in the market.

Furthermore, the growing R&D activities by the major automotive manufacturers to manufacture vehicles equipped with advanced braking system, are anticipated to provide impetus to the market in the forecast period. Hence, these developments are likely to contribute to the market growth in the coming years.

Key Market Players

The major players in the market are:

  • BASF SE
  • Chevron Corporation
  • The Dow Chemical Company
  • Exxon Mobil Corporation
  • Valvoline Inc
  • Others

The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

About Us:

Expert Market Research (EMR) is leading market research company with clients across the globe. Through comprehensive data collection and skillful analysis and interpretation of data, the company offers its clients extensive, latest, and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium scale enterprises.

EMR customises syndicated reports according to clients’ requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.

Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective and intelligent business strategies and ensure their leadership in the market.

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Expert Market Research

Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally. At Expert Market Research, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.