Global Automotive Brake Fluid Market size was valued US$ XX Mn. in 2019
and the total revenue is expected to grow about 2% from 2020 to 2027, reaching
nearly US$ XX Mn.
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Global Automotive Brake Fluid Market: Overview
Brake system is very essential component in every vehicle. In braking system,
brake fluid plays an important role in proper functioning of the brake. Good
braking system ensures safety of vehicle as well as pedestrian. Popular braking
systems are Hydraulic Braking System and Pneumatic Braking system. In
hydraulic braking system, braking oil is used as braking fluid and in Pneumatic
Braking System, air is used as braking fluid. Braking fluid transfers the pedal
force to the calliper of brake.
Brake fluids are hydroscopic in nature so they absorb moisture. Due to this
moisture the parts which come in contact with this fluid may get corroded. This
may create restraint in growth in market of brake fluid. Key manufacturers like
Castrol, BASF and Bosch are trying to find solution on this problem.
Global Automotive Brake Fluid Market: Drivers and
Increasing production of automotive and rising demand of passenger vehicle and
lightweight vehicle in commercial sector are expected boost the demand for
brake fluid. Stringent vehicle norms and safety concerns fuel market of more
effective braking system.
For longer life, durability and flexible working of braking system proper
maintenance of brake system is needed.
Need of changing braking fluid, high cost and incorporation in vehicle are major
restraints in brake fluid market. Brake system may fail due to leakage in hydraulic
system which may tend to accident.
Global Automotive Brake Fluid Market: Regional
As per OCIA 2019, Europe will show 3% rise in demand of passenger vehicle.
Germany, UK, France, and Italy are the regions in Europe forecasted to show
highest growth. Asia Pacific region has dominance over passenger car segment