Automotive Brake Fluid Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2026
- Transparency Market Research
- Transport & Logistics
The brake fluid plays is a prominent role in the proper functioning of an automobile, which helps the braking system generate the hydraulic force required for operation. Brake lines are mechanical components in the braking system that transfer brake fluid from the hydraulic master cylinder to brake calipers or wheel cylinders. When the brake is applied, brake fluid in the brake lines force the brake pad to press against the rotor, ensuring the vehicle is decelerated safely and comfortably. The force applied by driver is supplied through the brake lines by the brake fluid.
Increasing production of vehicles and the rising demand for lightweight vehicles are projected to boost the automotive brake fluid market during the forecast period. 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 automotive brake fluid market can be segmented based on fluid type, product type, sales channel, vehicle type, and region.
Based on fluid type, the automotive brake fluid market can be segmented into petroleum and non-petroleum fluid.
Based on vehicle type, the automotive brake fluid market can be classified 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.
Based on product type, the automotive brake fluid market can be segregated into DOT 3, DOT 4, DOT 5, and DOT 5.1. DOT 3 is glycol ether-based chemical composition. DOT 4 is borate ester chemical composition. DOT 5 is silicone-based product type. DOT 5.1 is borate ester or glycol ether product type. DOT 3, DOT 4, and DOT 5.1 are glycol fluid and DOT 5 is silicone-based chemical composition. Glycol fluid is majorly utilized for automotive brake fluid.
Based on sales channel, the automotive brake fluid market can be classified into Original Equipment Manufacturing (OEM) and aftermarket.
Based on geography, the global automotive brake fluid market can be segmented into North America, Europe, Asia Pacific, and Rest of World (RoW). Asia Pacific accounts for a major 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.
Key players operating in the global automotive brake fluid market include 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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