Automotive Brake Fluid Market Size, Share and Segmentation by Fluid Type (Petroleum, Non-Petroleum), by Product Type (Castor oil-based, Glycol-based, Silicone-based), by Vehicle Type (Passenger cars, Commercial vehicles, Off-road vehicles), by Regions and Global Market Forecast 2023-2030
Report Id: SNS/AUTO/1954 | June 2022 | Region: Global | 125 Pages
Report Scope & Overview:
Automotive Brake Fluid Market Size was valued at USD 846.95 million in 2022 and is expected to reach USD 1072.44 million by 2030 and grow at a CAGR of 3% over the forecast period 2023-2030.
The term "automotive brake fluid" refers to a specific kind of hydraulic fluid that is utilized in the hydraulic clutches and braking systems of motorbikes, automobiles, and certain bicycles. Automotive Braking fluid is a member of the family of hydraulic fluids and serves a purpose in both the hydraulic clutch and brake systems of motor vehicles. The use of hydraulic brakes in modern automobiles has resulted in an increase in demand for brake fluid. Mechanical brakes have been phased out in favor of hydraulic brakes. Brake fluid is used in automobiles to increase the transfer force, which in turn provides pressure to the brakes. Brake fluids are essential to the proper operation of the brakes, and their involvement in this process cannot be overstated. They are developed in such a way that they do not cause damage to the rubber components that are a part of the overall braking systems. In order to maintain optimal functionality of the braking system, these fluids should be replaced at regular intervals.
In the year 2021, The calibration method that Bosch created enables readjustments and recalibrations to be performed in a manner that is both efficient and exact. Using the ultra-modern lidar sensors in conjunction with the Bosch DAS 3000 device helps to expedite the process of precisely placing and surrounding calibration equipment.
MARKET DYNAMICS:
KEY DRIVERS:
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An increasing number of people are becoming aware of how essential automobile maintenance is.
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Increasing the efficiency of the brakes while also enhancing their lubrication.
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The current surge in electric car production is mostly due to government initiatives aimed at zero-emission vehicles.
RESTRAINTS:
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The automotive brake fluid market's expansion is being hampered by a lack of awareness among end-users.
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In the brake fluid market, the key limitations are the high price and the need to be installed in the vehicle.
OPPORTUNITIES:
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It is anticipated that the non-petroleum sector will develop into the fastest-growing one.
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Many automotive manufacturers from around the world are making investments in electric vehicles.
CHALLENGES:
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The disruption of the supply chain will slow down growth.
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Due to hydraulic system leaks, the brake system may fail, which could lead to an accident.
IMPACT OF COVID-19:
The COVID-19 pandemic has caused a significant halt in the advancement of the automobile brake fluid market industry, which is a commercial marketplace. As a result, the market has witnessed a large slowdown in its progress across the globe. The market was driven by important businesses who were faced with challenges as a result of the depressed demand that was generated by the application of lockdown and other limitations. The market has had a significant impact on the supply chain, and it is currently operating in an environment of unparalleled unpredictability. Nevertheless, when the restoration process gets underway in 2021, significant firms are regaining their positions by increasing their production, improving their capacity utilization, and increasing their use of teleshopping while adhering to the COVID-19 criteria.
KEY MARKET PLAYERS:
Robert Bosch GmbH (Germany), Chevron Corporation (U.S.), Exxon Mobil Corporation (U.S.), Valvoline, The China National Petroleum Corporation (China), Castrol (UK), Fuchs Petrolub SE (Germany), Royal Dutch Shell plc (the Netherlands), China Petroleum & Chemical Corporation (China), Total S.A. (France), and Qingdao Compton Technology Company Limited (China) are some of the affluent competitors with significant market share in the Automotive Brake Fluid Market.
MARKET ESTIMATION:
Market, By Fluid Type:
The global market has been divided into petroleum and non-petroleum-based automotive brake linings based on the fluid type segment. It is anticipated that the non-petroleum sector will develop into the fastest-growing one. Brake fluids that are derived from petroleum are utilized in the automotive industry only very infrequently.
Market, By Product Type:
The global market has been divided into castor oil-based, glycol-based, and silicone-based based on the product type segment. Glycol fluids, in a variety of grades, are utilized in nearly all (99%) of the world's motor vehicles.
Market, By Vehicle type:
The global market has been divided into passenger cars, commercial vehicles, and off-road vehicles based on the vehicle type segment. Over the course of the projection period, it is anticipated that the market for brake fluids for commercial vehicles would be the most lucrative. Agriculture, mining, and construction are all examples of industries where off-road vehicles are utilized.
MARKET SEGMENTATION:
By Fluid Type:
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Petroleum
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Non-Petroleum
By Product Type:
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Castor oil-based
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Glycol-based
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Silicone-based.
By Vehicle Type:
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Passenger cars
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Commercial vehicles
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Off-road vehicles
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REGIONAL ANALYSIS:
The market for automotive brake fluid on a global scale has been divided into four primary regions: North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific region is anticipated to experience the most expansion throughout the course of the projection period. This region is the world's leader in both the production and consumption of automobiles. In the Asia-Pacific area, the governments have enacted policies that are favorable toward the adoption of electric vehicles and growing the manufacturing infrastructure related to electric vehicles. These policies are intended to encourage more people to buy electric vehicles.
As a result of this, it is predicted that throughout the period covered by the forecast, the market for electric vehicles in the Asia-Pacific region would receive a significant boost. This is mostly due to the presence of both developing and emerging economies, such as China and India, as well as developed nations like Japan and South Korea. Rising living standards and incomes on a per capita basis, especially in emerging nations located in this region, have contributed to an increase in the demand for automobiles, which has in turn driven the market for automotive braking fluids.
REGIONAL COVERAGE:
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North America
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The USA
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Canada
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Mexico
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Europe
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Germany
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The UK
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France
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Italy
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Spain
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The Netherlands
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Rest of Europe
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Asia-Pacific
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Japan
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south Korea
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China
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India
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Australia
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Rest of Asia-Pacific
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The Middle East & Africa
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Israel
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UAE
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South Africa
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Rest of Middle East & Africa
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Latin America
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Brazil
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Argentina
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Rest of Latin America
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| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 846.95 Million |
| Market Size by 2030 | US$ 1072.44 Million |
| CAGR | CAGR of 3% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • by Fluid Type (Petroleum, Non-Petroleum) • by Product Type (Castor oil-based, Glycol-based, Silicone-based) • by Vehicle Type (Passenger cars, Commercial vehicles, Off-road vehicles) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Robert Bosch GmbH (Germany), Chevron Corporation (U.S.), Exxon Mobil Corporation (U.S.), Valvoline, The China National Petroleum Corporation (China), Castrol (UK), Fuchs Petrolub SE (Germany), Royal Dutch Shell plc (the Netherlands), China Petroleum & Chemical Corporation (China), Total S.A. (France), and Qingdao Compton Technology Company Limited (China) |
| Key Drivers | •An increasing number of people are becoming aware of how essential automobile maintenance is. •Increasing the efficiency of the brakes while also enhancing their lubrication. |
| RESTRAINTS | •An increasing number of people are becoming aware of how essential automobile maintenance is. •Increasing the efficiency of the brakes while also enhancing their lubrication. |
Frequently Asked Questions (FAQ) :
What is the size of the market by 2028?
Ans:- The market size is expected to reach USD 1010.88 million by 2028.
What exactly is an automotive brake fluid?
Ans:- A specific kind of hydraulic fluid that is utilized in the hydraulic clutches and braking systems of motorbikes, automobiles, and certain bicycles.
What are the most significant obstacles facing the Automotive Brake Fluid Market?
Ans:- The disruption of the supply chain and hydraulic system leaks, the brake system may fail are the most significant obstacles facing the Automotive Brake Fluid Market.
Who are the most prominent players in the market?
Ans:- Robert Bosch GmbH (Germany), Chevron Corporation (U.S.), Exxon Mobil Corporation (U.S.), Valvoline, The China National Petroleum Corporation (China), Castrol (UK), Fuchs Petrolub SE (Germany), and Royal Dutch Shell plc (the Netherlands) are the most prominent players in the market.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Automotive Brake Fluid Market Segmentation, By Fluid Type
8.1 Petroleum
8.2 Non-Petroleum
9. Global Automotive Brake Fluid Market Segmentation, By Product Type
9.1 Castor oil-based
9.2 Glycol-based
9.3 Silicone-based
10. Global Automotive Brake Fluid Market Segmentation, By Vehicle Type
10.1 Passenger cars
10.2 Commercial vehicles
10.3 Off-road vehicle
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 the USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 the UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company Profiles
12.1 Robert Bosch GmbH (Germany),
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Chevron Corporation (U.S.)
12.3 Exxon Mobil Corporation (U.S.)
12.4 The China National Petroleum Corporation (China)
12.5 Castrol (UK)
12.6 Fuchs Petrolub SE (Germany)
12.7 Royal Dutch Shell plc (the Netherlands)
12.8 China Petroleum & Chemical Corporation (China)
12.9 Total S.A. (France)
12.10 Qingdao Compton Technology Company Limited (China)
12.11 Valvoline
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share analysis
13.3 Recent Developments
14. Conclusion
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