Automotive Brake Fluid Market Overview:
The automotive
brake fluid market size will
develop at a 5.0% CAGR between 2022- 2030, as per the Market Research Future
(MRFR) analysis. 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.
Get Free
Sample Report of Automotive Brake Fluid Market
Automotive Brake Fluid Market Key
Players
- Robert
Bosch GmbH (Germany)
- The
China National Petroleum Corporation (China)
- Castrol
(UK)
- Exxon
Mobil Corporation (U.S.)
- Fuchs
Petrolub SE (Germany)
- Royal
Dutch Shell plc (the Netherlands)
- China
Petroleum & Chemical Corporation (China)
- Total
S.A. (France)
Automotive Brake Fluid Market
Segmentation
The Market Research Future Report highlights an
inclusive segmental analysis of the global automotive brake fluid market based
on sales channel, vehicle type, product type, and fluid type.
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.
Automotive Brake Fluid Market 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. The
presence of emerging economies South Korea, Japan, India, and China which are
the largest consumers and manufacturers of cars, improved living standards,
increasing per capita income, presence of key players, and rising
production of vehicles are adding to the automotive brake fluid market growth
in the region.
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.
Read more:
Electric Vehicle Battery Market
No comments:
Post a Comment