Automotive Brake Fluid Market Size
and Growth Rate:
Automotive
Brake Fluid Market was valued at USD 29.06 Billion in 2017 and projected to
reach USD 31.99 Billion by 2025 growing at a CAGR of 1.03% during the forecast
period 2018 to 2025.
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Automotive Brake Fluid Market @ https://www.researchcosmos.com/reports/automotive-brake-fluid-market-analysis-by-product-mineral-oil-synthetic-by-application-passe/21910244
Automotive Brake Fluid Market Growth
Drivers and Restraints:
Growing
production of vehicles and the rising demand for lightweight engines are
projected to boost the automotive brake fluid market during the projected period.
The rise in demand for vehicles with excellent braking system is a key factor
that is anticipated to drive the demand in future. Stringent norms on
automotive industries regarding security concerns by global regulatory bodies
are expected to augment the market. Brake fluid is effective for various
braking activities such as durability, better braking response, longer life,
and flexibility. This is expected to provide lucrative opportunities to the
automotive brake fluid market. Increasing braking fluid, replacement, high
cost, and union in the vehicle are some limitations of the world market.
The
burgeoning demand for vehicles in nations like China and India is projected to
drive growth for the automotive brake fluid market. Companies are building production
sites in these regions so as to satiate the local market. For instance, BASF
opened a manufacturing plant in Pudong, Shanghai to support the market of local
customers; which in turn is making a demand for this fluid in China. However,
the lack of knowledge among end users is restraining the growth of the global
market.
The
central route to this market is via the aftermarket, which holds workshops,
automotive service centers and retailers for supply to DIY (do it yourself) end
users. The local aftermarket includes general & automotive retailers and
petrol forecourts. The resting market for brake fluid is held by OEMs for the
first fill in a vehicle. Therefore, tie-ups with OEMs become an important
driver over all regions since they provide an assured route to the market
through the sale of new cars.
Geographical Analysis of Automotive
Brake Fluid Market:
Based on
geography, the automotive brake fluid market can be divided into North America,
Europe, Asia Pacific, and Rest of World (RoW). The Asia Pacific estimates for a
major share of the global market, owing to the great rate of adoption of
automotive braking fluid and development of the automotive sector in the
region, pointing to increased production of vehicles, particularly in China and
India.
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Key Players of Automotive Brake Fluid
Market:
Important
players operating in the global automotive brake fluid market include Castrol,
Robert Bosch GmbH, BASF, Delian Group, Total S.A., Pentosin, Shell, Dow
Automotive Systems, Exxon Mobil, Compton, Shenzhen Pingchi Industry Co, and FAW
Group Corporation.
Automotive Brake Fluid Market
Segmentation:
By Product:
·
Mineral
Oil
·
Synthetic
By Application:
·
Passenger
Cars
·
Commercial
Vehicles
By Region:
·
North
America
·
South
America
·
Europe
·
Asia
Pacific
·
Middle
East and Africa
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