Industry Background:
The global Auto Brake Fluid Market is expected to witness high Demand in the forecasted period due to the growing demand for environment-friendly brake fluids and Continuous developments in car service outlets. The brake fluid plays is a prominent role in the proper functioning of an automobile, which helps the braking system generate the hydraulic force required for operation. Brake fluid is responsible for various braking activities such as better braking response, longer life, durability, and flexibility. Additionally, automotive brake fluid helps prevent corrosion and serves as a lubricant for all movable parts.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Robert Bosch GmbH (Germany), BASF (Germany), Castrol (United Kingdom), Delian Group (China), Total S.A. (France), Dow Automotive Systems (United States), Exxon Mobil (United States), Pentosin (United States), Shell (Netherlands) and Shenzhen Pingchi Industry Co (China) |
This growth is primarily driven by The Fuelling Production of Vehicles and The Growing Demand for Lightweight Vehicles.
Globally, a noticeable market trend is evident High Adoption of Vehicles with Advanced Braking System
The Auto Parts & Equipment sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Robert Bosch GmbH (Germany), BASF (Germany), Castrol (United Kingdom), Delian Group (China), Total S.A. (France), Dow Automotive Systems (United States), Exxon Mobil (United States), Pentosin (United States), Shell (Netherlands) and Shenzhen Pingchi Industry Co (China), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. Leading key players are focusing on strategic partnerships to improve their products and services. Companies are focusing on increasing their client base to strengthen market position and to enhance product & service offerings.
Key Developments in the Market:
In January 2023, Castrol India Ltd., a leading automotive and industrial lubricants manufacturer, acquired a 7.09% stake in ki Mobility Solutions Pvt. Ltd., Castrol India acquired a stake in ki Mobility, a provider of automotive services, maintenance, and repairs, for a total of Rs 48.75 billion through subscription of 95,083 compulsory convertible preferred shares and 100 treasury shares. According to Castrol India's Exchange filing, the acquisition was completed on 10 January 2023.
In May 2022, ZF Aftermarket announced the launch of its portfolio of new products and solutions, with the launch of TRW brake fluid on Tuesday. This brake fluid provides improved pedal feel and braking comfort in all Anti-lock Braking systems (ABS), disc, and drum brake vehicles, with additional high water resistance. The TRW brand has been a leading manufacturer of brake components and is now available in India under the ZF aftermarket umbrella.
Influencing Trend:
High Adoption of Vehicles with Advanced Braking System and The Increasing Number Developments for the Better Braking Response, Flexibility, Durability and Longer Lives of the Brake Fluid
Market Growth Drivers:
The Fuelling Production of Vehicles and The Growing Demand for Lightweight Vehicles
Challenges:
High-Cost Associated with Auto Brake Fluid
Restraints:
The Growing Concern Regarding Changing Braking Fluid as well as Replacement
Opportunities:
Stringent norms on automotive industries regarding safety concerns by global regulatory bodies are anticipated to augment the brake fluid market for automotive. Brake fluid is responsible for various braking activities such as better braking response, longer life, durability, and flexibility
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Auto Brake Fluid Market
- Analysis about New Entrants in Auto Brake Fluid Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Auto Brake Fluid Study Sheds Light on
The Auto Brake Fluid Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Auto Brake Fluid industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Auto Brake Fluid industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.