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Automotive brake fluids are one of the significant element of the hydraulic braking system including hydraulic brakes and clutches by ensuring proper functioning of vehicles. The brake liners are mechanical elements in the vehicle’s braking system, which transfers the brake fluid from the main hydraulic cylinder to the wheel cylinder or brake caliper. When the brakes are applied, the fluid in the brake liners force the brake pads to exert pressure against the rotor, thus ensuring that the vehicle decelerates securely and safely. The brake fluids enables the hydraulic brake system function smoothly and resist the high temperature generated by the brake system. They are designed in such a manner that they do not damage the rubber components in the entire brake system. Regular replacement of these fluids improves the overall performance of the braking system. As the mechanical braking system has been replaced by the hydraulic braking system in present vehicles, the demand for brake fluids has been witnessing a lucrative growth in the market. The Department of Transportation (DOT) along with the Society of Automotive Engineers have formulated the standards and specifications for the performance of brake fluids.
The automotive brake fluid markets have been experiencing a potential development owing to the increasing demand in the automotive industry and growing numbers of vehicles, automobile service providers and OEMs across the globe. Additionally, the technological advancement, rise in the investment budgets of several prominent companies in the market as well as the increasing sales and production of automobiles is fuelling the market growth. However, development of advanced technology such as brake by wire may substitute the traditional hydraulic braking system thus hindering the growth of the market.
Globally, the automotive brake fluid market is segmented by type, by market type, by vehicle type, and by geographic coverage. Based on type, the market is further segmented into DOT 3 Glycol, DOT 4 Glycol, DOT 5 Silicon, and DOT 5.1 Glycol. DOT 3 is a chemical composition based glycol ether. DOT 4 is a borate chemical composition. DOT 5.1 is a glycol or borate ether. Whereas, DOT 5 is silicon based fluid. Glycol fluid is chiefly used in automobile brake fluid. DOT 4 glycol fluid product holds a significant share in the global market as these type of fluids are majorly utilized in medium and higher sized modern cars as well as for automobiles in, greater altitude, towing, greater altitude, or ABS systems. Also, small and mid-sized cars function on DOT brake fluids which comprises of low level of water content as these fluids leads to corrosion in the braking system. Brake liners, pistons, and cylinders undergo deterioration owed to constant use of brakes over the time. However, the DOT 5 brake fluids are based on silicon. It is utilized vehicles that have minimal running such as antique, weekend, and collector cars that are parked for long time period and also for few military vehicles. DOT 5.1 brake fluid products are utilized in heavy-duty vehicles such as towing vehicles, delivery and fleets trucks, and race cars. The high volume of medium and large sized cars across the globe thus leverages the market growth of DOT 4 brake fluids. The market type is further segmented into OEM and aftermarket. The aftermarket is gaining high traction in the automotive brake fluid market owing to the increasing demand by the automobile service centres, workshops, and retailers that supply DIY brake fluid kits to the end users. The retail aftermarket comprises of general, gasoline and automotive retailers markets. OEMs have a surplus market for brake fluid, which can be utilized to fill vehicles for the first time. Hence, cooperation with the OEMs has become an important driving force in all regions as they provide a reliable way to the market by selling new cars. The vehicle type is further segmented into passenger cars and commercial vehicles. The passenger cars segment holds the largest revenue share in the global market owing to the high sales and production of passenger cars in the global market.
Key Market Driver -
increase in the sales and production of vehicles with hydraulic braking systems is expected to drive the growth of the market in the forecast period.
Key Market Restraint -
Development of technologically advanced brake-by-wire may hamper the growth of the market during the forecast period.
Major players operating in the global automotive brake fluid market include Delian Group, Shenzhen Pingchi Industry Co, Robert Bosch GmbH, Exxon Mobil, BASF, Pentosin, Castrol, Shell, Total S.A., FAW Group Corporation, and Dow Automotive Systems among others.
Geographically, the automotive brake fluid market is segmented into North America, Europe, Asia Pacific, and the rest of the world. Asia Pacific holds the significant share in the global market in terms of volume and value. The high demographic growth, development in the infrastructures, improving living standards, expansion of the industrial sector as well as rise in the purchasing power among people are the major contributors for the rapid sales and production of vehicles which consequently fuels the growth of automotive brake fluids market in this region. Also, the prominent players are investing a high percentage to establish and expand their manufacturing plants in the emerging countries such as China, and India. North America follows after Asia Pacific in the global market in terms of revenue share owing to the rapid growth in the automotive industry coupled with the adoption of technological advancements in vehicles.
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