Latest News:- Automotive Brake Fluid Market: OEM is expected to lead the Channel segment during 2024-2028

Automotive Brake Fluid Market to grow at a CAGR of 2.95% during 2024-2028

The Automotive Brake Fluid Market is expected to grow at a CAGR of 2.95% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 317.14 million. The automotive brake fluid market is experiencing substantial growth, particularly in the electric vehicle (EV) segment. This expansion is fueled by the increasing demand for EVs, which has more than tripled in the last three years, accounting for approximately 14% of total automotive sales in 2022. With over 2.3 million EVs sold in the first quarter of 2023, China, Europe, and the US are the leading markets for EV sales. The promising outlook for the global automotive brake fluid market in the EV sector is driven by this significant growth trend. 

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The OEM subsegment is expected to dominate the Channel segment during the forecast period 

Technavio analysts predict that the OEM subsegment will lead the Channel segment during 2024 and 2028 The automotive brake fluid market within the OEM segment is experiencing significant growth due to the increasing production of passenger and commercial vehicles globally. Over the past decade, the utilization of brake fluids in the automotive industry has expanded substantially and is projected to continue growing during the forecast period. Automotive Original Equipment Manufacturers (OEMs) play a pivotal role in the market, as they are responsible for installing braking systems and brake fluids during vehicle production. Additionally, they provide maintenance and repair services throughout the vehicle's lifecycle. The promising outlook for the OEM segment of the market is driven by OEMs' focus on procuring high-quality brake fluids from Original Equipment Manufacturers (OEMs) operating within the market focus.

Here are the various ways based on which the market is segmented: 

• Channel
  • OEM
  • Aftermarket
• Application
  • Passenger cars
  • Commercial vehicles
• Geography
  • APAC
  • Europe
  • North America
  • South America
  • Middle East and Africa

Reasons to Purchase the Global Automotive Brake Fluid Market Market Research Report by Technavio. What is in it for you?

• Wealth of Experience: Technavio is an established name in the world of market research. It holds an expertise of more than 20 years in the field, has published 21,000+ reports thereby extensively covering the area in various industries and range of regions
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There are several factors that are causing the market to flourish growing number of vehicles in use

Learn which are the obstacles that the market is experiencing in the way of its growth by accessing the free PDF report

Research Analysis Overview

The Automotive Brake Fluid Market is a significant segment of the automotive sector, with essential applications in hydraulic braking systems. This market includes various types of high-performance fluids designed to ensure optimal functionality of mechanical elements like rotors, brake pads, brake calipers, wheel cylinders, main hydraulic cylinders, brake liners, clutches, and hydraulic brakes. Automotive brake fluids are primarily made of polyethylene glycols, providing excellent lubrication and corrosion prevention. These fluids are crucial for maintaining the efficiency of braking systems in various vehicles, from passenger cars to heavy-duty trucks. The market for automotive brake fluids is influenced by several factors, including the growing popularity of electric vehicles and falling battery prices. However, the demand for hydraulic brake fluids remains strong, as they continue to be an essential component in conventional vehicles. Engine oil giants like Valvoline also contribute to the market, offering a range of automotive brake fluids with varying boiling points to cater to diverse customer needs. The market's future looks promising, with continuous research and development efforts aimed at improving the performance and longevity of brake fluids.

Market Research Overview

The Automotive Brake Fluid Market is a significant segment of the global Specialty Chemicals Market, according to Technavio's market research. This market encompasses businesses involved in the production of high-value-added chemicals utilized in the manufacturing of various products, such as fine chemicals, additives, advanced polymers, adhesives, sealants, specialty paints, pigments, and coatings. Technavio's analysis projects that the expansion of the global Specialty Chemicals Market will be fueled by the increasing demand for specialty adhesives and sealants throughout the forecast period.

The Automotive Brake Fluid Market is experiencing significant growth, fueled by the growing number of vehicles in use. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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