Pune, India, Dec. 23, 2021 (GLOBE NEWSWIRE) -- The global automotive brake fluid market size is expected to gain momentum owing to the increasing replacements of hydraulic braking systems in vehicles during the forecast period. This information is published by Fortune Business Insights™ in an upcoming report, titled, “Automotive Brake Fluid Market, 2021-2028.” Their growing usage in all kinds of vehicles, such as passenger cars, light, and heavy commercial vehicles, tractors, and motorcycles is expected to flourish the market. The involvement of superior companies towards investing in electric cars decreased battery cost, governmental subsidies are likely to prosper the market for automotive brake fluid.
Industry Development-
- September 2021: Bosch developed a calibration system that allows efficient and precise readjustments and recalibration. The ultra-modern lidar sensors work with the Bosch DAS 3000 device, which speeds up the exact positioning and surrounding of calibration devices.
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Drivers & Restraints-
Expanding Consumption in Automotive Industry to Accelerate Growth
The global automotive brake fluid market growth is likely to broaden; owing to increased product requirements in the automobile industry during the projected period. The market has foreseen a substantial development due to the increased demand, R&D investments, manufacture & sales. The outstanding properties such as easy replacement, smooth & safe functionality, pressure resistance, non-damaging, and others make it an unbeatable choice, thereby fostering market growth. However, advanced developments such as brake by wire may result in limiting the automotive brake fluid market growth.
COVID-19 Impact-
Supply-Chain Disruption to Hamper Growth
The automotive brake fluid market industry is a commercial marketplace hampered by the COVID-19 pandemic, witnessing a massive stagnation in its progress across the globe. The deflated demand caused due to the imposition of lockdown and other restrictions created hurdles for key players driving the market. The market has been substantially impacted the supply chain and is present amidst unrivaled uncertainty. Nevertheless, as restoration commences in 2021, major players are retrieving their positions through production expansions, capacity utilization, and teleshopping keeping in view of the COVID-19 norms.
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REGIONAL INSIGHTS
High Sales & Volume to Foster Growth in Asia Pacific
The Asia Pacific is expected to hold the highest global automotive brake fluid market share during the forecast period. The high demographic growth, infrastructure development, improved living conditions, and expansions in investments are propelling the market in this region. North America is likely to have the second dominant market share, owing to the rapidly advancing technology.
Segments:
Based upon type, the automotive brake fluid market has been distributed into DOT 3 glycol, DOT 4 glycol, DOT 5 glycol, and DOT 5.1 glycol. Based on market type, the market bifurcates into OEM and aftermarket. Based on Vehicle Type, the market segregates into passenger cars and commercial cars. Finally, by geography, the market divides into Asia Pacific, North America, Europe, and the Rest of the World.
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Competitive Landscape-
Technological Innovations to Strengthen Players’ Market Stances
Presence of dominant market participants and the primary emerging market trends; the industry has moderate to high entry barriers. The design innovations, partnerships, mergers, acquisitions, porters five forces analysis, and insights on regulatory scenarios drive the automotive brake fluid industry.
List of Key Players Profiled in the Global Market for Automotive Brake Fluid Market:
- Delian Group
- Shenzhen Pingchi Industry Co.
- Robert Bosch GmbH
- Exxon Mobil
- BASF
- Pentosin
- Castrol
- Shell
- Total S.A.
- FAW Group Corporation
- Dow Automotive Systems
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