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The automotive brake fluid market size is forecast to increase by USD 317.14 million at a CAGR of 2.95% between 2023 and 2028.
The automotive brake fluid industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The OEM segment is estimated to witness significant growth during the forecast period. The market has experienced significant growth in recent years, driven primarily by the increasing production of passenger and commercial vehicles. Automotive original equipment manufacturers (OEMs) are the primary consumers of automotive brake fluids due to their role in both initial installation during vehicle production and ongoing maintenance and repair services. The focus on quality in brake fluid selection by OEMs is a key market trend, as they seek reliable and effective solutions to ensure vehicle safety standards are met. Automotive applications for brake fluids include hydraulic braking systems, hydraulic brakes, clutches, and various mechanical elements such as pistons, cylinders, and brake calipers.
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The OEM segment was valued at USD 1.09 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 49% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market In the Asia Pacific region is experiencing significant growth due to increasing sales of passenger vehicles and the adoption of synthetic brake fluids in automobiles. Developing economies, such as India and China, are major contributors to this growth, alongside established markets like Japan and South Korea. The demand for automotive braking fluids is driven by the high volume sales of passenger vehicles. Furthermore, consumer awareness regarding the benefits of using synthetic brake fluids in automobiles is fueling market revenue generation. Government initiatives, such as the Indian government's plan to deploy 10,000 electric buses, are also supporting the adoption of electric vehicles (EVs) and the associated demand for brake fluids.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The automotive brake fluid market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the automotive brake fluid market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, automotive brake fluid market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market encompasses hydraulic fluids specifically designed for use in automotive applications. These fluids play a crucial role In the lubrication and corrosion protection of various mechanical elements withIn the hydraulic braking system. The chemical composition of automotive brake fluids varies, with some containing glycol ethers and others polyethylene glycols. Brake fluids are essential for maintaining the efficient operation of hydraulic brakes, clutches, and other mechanical components. The hydraulic braking system relies on the fluid to transmit pressure from the brake pedal to the brake liners and other mechanical components, enabling the vehicle to stop efficiently and safely. The chemical composition of automotive brake fluids is carefully formulated to meet vehicle safety standards.
For instance, they are designed to prevent metal corrosion and ensure the fluid's boiling point remains consistent under various operating conditions. The fluids are also engineered to work effectively with rubber components, such as brake pads and rotors, to prevent deterioration and ensure optimal performance. Automotive brake fluids are available in various types, including DOT 3 glycol, DOT 4 glycol, and DOT 5 silicon-based fluids. DOT 3 and DOT 4 fluids are glycol-based, while DOT 5 fluids are silicon-based. Each type offers unique benefits, such as improved boiling points, longer service life, and enhanced corrosion protection. The market caters to a diverse range of vehicles, from passenger cars and commercial vehicles to heavy-duty vehicles, military vehicles, antique cars, weekend cars, collector cars, towing vehicles, and race cars.
In addition, the market serves various channels, including automobile service centers, workshops, retailers, general retailers, gasoline retailers, and automotive retailers. The demand for automotive brake fluids is driven by the need to ensure vehicle safety and efficiency. As the automotive industry evolves, so too do the requirements for brake fluids. High-performance fluids are increasingly popular, offering benefits such as metal corrosion prevention, brake fade reduction, and noise elimination. The market for automotive brake fluids is expected to grow, driven by factors such as the increasing demand for vehicle safety and the development of advanced technologies, such as brake by wire systems and electronic stability programs.
Additionally, the falling battery prices in electric vehicles are expected to drive demand for high-performance brake fluids that cater to the unique requirements of electric vehicle braking systems. The market caters to a diverse range of vehicles and serves various channels, offering a range of brake fluid types to meet the unique requirements of each application. The market is expected to grow, driven by factors such as the increasing demand for vehicle safety, the development of advanced technologies, and the evolving needs of the automotive industry.
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Market Scope |
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Report Coverage |
Details |
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Page number |
171 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 2.95% |
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Market growth 2024-2028 |
USD 317.14 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
2.31 |
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Key countries |
US, China, Japan, India, and Germany |
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Competitive landscape |
Leading Companies, market growth and forecasting, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Channel
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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