USD 832.32 billion
Report ID: SQSG25A2006 | Region: Global | Published Date: November, 2022 | Pages: 157 | Tables: 63 | Figures: 75
Automotive Brake Fluid Market was valued at USD 832.32 billion in 2021 and it is expected to grow from USD 848.9 billion and reach at USD 994.7 billion by 2030, at a CAGR of 2% over the forecast period (2023-2030).
Brake fluid oil is in high demand due to the increasing popularity of automobiles. The main use for brake fluid oil is as a hydraulic fluid in brakes. It is also used in other automotive applications where hydraulic fluids are required. The benefits of using brake fluid oil are that it provides good lubrication, it is non-corrosive, and it has a high boiling point. These properties make it ideal for use in brakes, where high temperatures and extreme pressure can be encountered. Additionally, brake fluid oil is typically clear or light yellow in color, making it easy to identify leaks.
There are a few different types of brake fluid oils on the automotive brake fluid market, with each having its own advantages and disadvantages. The most common type of brake fluid oil is glycol-based, which offers good performance but can cause corrosion if leaked onto painted surfaces. The other type of brake fluid is silicone-based. Silicone-based fluids are not as effective at high temperatures as glycol-based fluids, but they are more resistant to moisture absorption. This makes them ideal for use in cold weather conditions or in areas with high humidity levels.
US Automotive Brake Fluid Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 832.32 billion
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Automotive Brake Fluid Market is segmented by product and vehicle type. By product types, we have sub-segmented the Automotive Brake Fluid Market into DOT 3, DOT 4, DOT 5, and DOT 5.1. By vehicle types, the Automotive Brake Fluid Market is segmented into passenger car and commercial vehicle.
Automotive Brake Fluid Market Analysis by Type
DOT 3 or glycol-based oil is dominating the global automotive brake fluid market as it is less likely to absorb moisture than other types of brake fluid. This means that it won't corrode your brake system components as quickly. Second, glycol-based brake fluid has a higher boiling point than other types of brake fluid. This means that it can withstand higher temperatures without breaking down. Finally, glycol-based brake fluid is less likely to cause fading or squealing when brakes get hot.
Automotive Brake Fluid Market Analysis by Vehicle Type
By Vehicle Type, the commercial vehicles are dominating the global automotive brake fluid market. In fact, the segment is holding over 80% of market share. Commercial vehicles are typically larger and heavier than passenger cars, so they require more brake fluid to operate properly. The amount of fluid required depends on many factors, including the size and weight of the vehicle, how much braking is required, and how hot the brakes get during operation. Heavy-duty trucks can go through several gallons of fluid per day, while a passenger car may only use a few ounces.
In the global automotive brake fluid market, brake fluid is generally made from glycol ethers or polyethylene glycols. These fluids have good thermal stability and don't break down easily under high temperatures. This makes them ideal for use in commercial vehicle brakes because they can withstand repeated cycling without deteriorating.
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The Asia Pacific automotive brake fluid market is anticipated to grow at a CAGR of 5% over the forecast period of 2022-2028. The region is expected to dominate the global market owing to the presence of major players in the region and rise in vehicle production. Moreover, countries such as China and India are witnessing rapid urbanization and economic development, which is further fuelling the growth of the automotive industry in the region.
Moreover, the presence of major manufacturers in the region is another key factor driving market growth. For instance, Nisshinbo Holdings Inc., JTEKT Corporation, and Aisin Seiki Co., Ltd., are some of the leading players operating in this region.
The growing demand for vehicles equipped with advanced safety features is another important factor propelling automotive brake fluid market growth in the Asia Pacific region. The government regulations regarding vehicle safety standards are also playing a vital role in boosting market growth. For instance, according to UN Regulations No. 13-H on Braking Systems for Passenger Cars & Light Trucks (UNECE Regulation 13), all newly manufactured vehicles must be equipped with an anti-lock braking system (ABS).
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Automotive Brake Fluid Market Driver
Automotive Brake Fluid Market Restraint
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The automotive brake fluid market is a highly competitive and rapidly changing market. In order to sustain in this industry, companies are constantly innovating and adapting to the ever-changing landscape. Some of the ways that companies are sustaining in the global automotive braking fluid industry include:
One of the ways in which companies are sustaining in the global automotive brake fluid market is by investing in research and development (R&D). This allows them to develop new and innovative products that offer improved performance or other advantages over existing products on the market. R&D is also important for keeping up with changing technologies and regulations.
Another way in which companies are sustaining in the global automotive brake fluid market is by building strong relationships with suppliers. This helps them secure supplies of raw materials at competitive prices, which can improve their margins. Strong supplier relationships can also help companies ensure reliable deliveries of finished products, preventing disruptions to their operations.
Finally, effective management of costs is critical for sustaining in the global automotive braking fluid industry. Companies need to control their expenses carefully in order to maintain profitability during periods of slow sales or intense competition.
Automotive Brake Fluid Market Top Player's Company Profiles
Automotive Brake Fluid Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
As per latest report published by SkyQuest Technology on automotive brake fluid market, it will continue to grow at a steady pace, while but there are high chances that it will experience more rapid growth in the coming years. One thing that all our analyst agree on is that the demand for automotive braking fluid is expected to increase in the future. This is due to a number of factors, such as the increasing popularity of vehicles equipped with ABS brakes and the increasing number of drivers who are looking for ways to improve their safety on the road.
|Market size value in 2021||USD 832.32 billion|
|Market size value in 2030||USD 848.9 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Automotive Brake Fluid Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Automotive Brake Fluid Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Automotive Brake Fluid Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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