This report provides exclusive insights into the COVID-19 impact on the Automotive Brake Fluid Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Automotive Brake Fluid Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Automotive Brake Fluid Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by Infinium Global Research on automotive brake fluid market provides an in-depth analysis of segments and sub-segments in global as well as regional automotive brake fluid market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional automotive brake fluid market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global automotive brake fluid market. According to the report the global automotive brake fluid market is projected to grow at a healthy CAGR over the forecast period of 2018-2024.
Brake fluid is a liquid used in hydraulic brake and hydraulic clutch application. Brake fluids are important components of Automobiles. Brake fluids help to transfer force into pressure and amplify braking force. Brake fluids are used for the smooth functioning of breaks in vehicles and for moving several components of vehicles in the braking system. Brake fluid has certain characteristics such as Viscosity, Boiling point, Corrosion, and Compressibility that meets a certain quality standard for the braking system to work accurately. Most of the automotive industry used glycol-based brake fluid owing to the desired thermal properties for reliable and safe operation. Brake fluids are composed of three mains components such as solvent, lubricant, and additives.
Automotive brake fluid serves as a lubricant for moving parts and prevents corrosion. In addition, automotive brake fluid is renewed after a certain time period, or if the vehicles travel a defined number of Kms. Brake fluid is changed in order to prevent brake failure and to maintain the boiling point at a safe level. These aforementioned factors are responsible for driving growth in this market. High demand for vehicles coupled with the increased adoption of the advanced braking system over the globe is augmenting the growth of the market. however, Reluctance in the timely changing of oil is expected to hamper the growth of the market. The on-going developments for the better braking response, flexibility, durability and longer lives of the brake fluid, growing demand for environment-friendly brake fluids and Continuous developments in car service outlets to create huge opportunities for the automotive brake fluid market.
Among the geographies, the Asia Pacific region holds a major share in the automotive brake fluid market. countries such as China and India expected to have faster growth in this market owing to the growing number of vehicles. Increased production of vehicles coupled with growing key manufacturers in this region and expansion of the automotive sector is projected to boost the market in the Asia Pacific.
The report on global automotive brake fluid market covers segments such as fluid types, vehicle type, and product type. On the basis of fluid types, the global automotive brake fluid market is categorized into petroleum and non-petroleum. On the basis of vehicle type the global automotive brake fluid market is categorized into passenger cars, utility vehicles, SUVs, motorcycles, trucks and buses, and trailers. On the basis of product type the global automotive brake fluid market is categorized into castor oil-based (pre-DOT, DOT 2), glycol-based (DOT 3, 4, 5.1) and silicone-based (DOT 5).
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region.
The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global automotive brake fluid market such as BASF, Castrol, Robert Bosch GmbH, Total S.A., Dow Automotive Systems, Delian Group, Pentosin, Exxon Mobil, Copton, Shenzhen Pingchi Industry Co, FAW Group Corporation, and Shell.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global automotive brake fluid market. Moreover, IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of automotive brake fluid market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the automotive brake fluid market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the automotive brake fluid market to understand the present and future trends in this market and formulate their strategies accordingly.