Market Analysis
Market
Research Future (MRFR), in a detailed analysis of the global automotive brake fluid market, revealed a possibility for the
market to achieve 5.0% CAGR during the forecast period of 2018 to 2023.
A brake fluid plays a pivotal role in the right functioning
of a car that helps the braking system in generating the hydraulic force needed
for operation. Non-petroleum and petroleum are the different fluid types and
silicone-based, glycol-based, and castor oil-based are the different product
types. Owing to its alluring features and benefits, automotive brake fluid has
wide applications in off-road vehicle, commercial vehicle, and passenger
cars.
Various factors are propelling the automotive brake fluid
market growth. As per the MRFR report, such factors include growing sales and
production of SUVs and crossovers, robust nature, demand for lightweight cars,
and an increase in automotive car service providers.
On the contrary, lack of awareness and understanding, lack of
vehicle and brake safety, high cost, negligence in periodic maintenance, and
the current COVID-19 impact may deter the automotive brake fluid market growth
over the forecast period.
Key Players
Key contenders profiled in the global automotive brake fluid
market report include Qingdao Copton Technology Company Limited (China),
Chevron Corporation (U.S.), Total S.A. (France), China Petroleum & Chemical
Corporation (China), Royal Dutch Shell plc (the Netherlands), Fuchs Petrolub SE
(Germany), Exxon Mobil Corporation (U.S.), Castrol (UK), The China National
Petroleum Corporation (China), and Robert Bosch GmbH (Germany). Industry
players have incorporated several strategies to stay at the forefront and also
cater to the consumers growing needs, such as partnerships, agreements, joint
ventures, mergers and agreements, and others.
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Market Segmentation
·
By fluid
type, the global automotive brake fluid market is segmented into
non-petroleum and petroleum. Of these, the non-petroleum fluid type segment
will lead the market over the forecast period.
·
By product
type, the global automotive brake fluid market is segmented into
silicone-based, glycol-based, and castor oil-based. Of these, the glycol-based
product type segment will dominate the market over the forecast period.
·
By vehicle
type, the global automotive brake fluid market is segmented into
off-road vehicle, commercial vehicle, and passenger car. Of these, the
passenger car segment will spearhead the market over the forecast period.
·
By sales
channel, the global automotive brake fluid market is segmented into
aftermarket and OEM. Of these, the OEM sales channel segment will have the
lions share in the market over the forecast period.
Regional Analysis
By region, the global automotive brake fluid market covers
the market opportunities and recent trends across Europe, North America, the
Asia Pacific (APAC), and the Rest of the World (RoW). Of these, the APAC region
will spearhead the market over the forecast period.
In North America, the global automotive brake fluid market is
predicted to have healthy growth over the forecast period. The growing adoption
of technologically advanced cars, coupled with the booming automotive industry
is adding to the global automotive brake fluid market growth in the
region.
In Europe, the global automotive brake fluid market is
predicted to have sound growth over the forecast period, and in the Rest of the
World, it is predicted to have steady growth over the forecast period.
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TABLE OF CONTENTS:
- Market Introduction
- Research Methodology
- Market Dynamics
- Executive Summary
- Market Factor Analysis
- Automotive brake fluid Market, By Segments
- Competitive Analysis
More…
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