Brake Fluids Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Market is Segmented by Fluid Type (Petroleum, and Non-petroleum), Product Type (DOT 3, DOT 4, DOT 5, and DOT 5.1), Application (Passenger Cars, Light Commercial Vehicles, and Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa)

Market Snapshot

Brake Fluids Market - Summary
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >2 %

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Market Overview

The global market for brake fluids is expected to register a CAGR of about 2% during the forecast period. The major factor driving the market studied is an increase in the production of electric vehicles. On the flip side, slow down in the global automotive production, and unfavorable conditions arising due to the COVID-19 outbreak are hindering the growth of the market.

  • The commercial vehicle segment is expected to dominate the global brake fluids market over the forecast period.
  • The Asia-Pacific region represents the largest market and is also expected to be the fastest-growing market over the forecast period, owing to the consumption from countries, such as China, India, and Japan.

Scope of the Report

The Brake fluids market report includes:

Fluid Type
Petroleum
Non-petroleum
Product Type
DOT 3
DOT 4
DOT 5
DOT 5.1
Application
Light Commercial Vehicles
Passenger Cars
Others
Geography
Asia-Pacific
China
India
Japan
South Korea
ASEAN Countries
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Spain
Turkey
Czech Republic
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Iran
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Increasing Demand from Light Commercial Vehicles

  • Brake fluid is a type of hydraulic fluid used in all kinds of vehicles, such as passenger cars, light, and heavy commercial vehicles, tractors, and motorcycles, among others.
  • Brake fluids are used in electric vehicles. The increase in the production of electric vehicles in recent times is basically driven by the initiatives taken by several governments toward zero-emission and eco-friendly vehicles, as well as growing consumer awareness.
  • Furthermore, with the decreasing battery costs and subsidies from the governments, car buyers are finding it easier to afford electric vehicles.
  • Many global automotive manufacturers, including Tesla, General Motors, Toyota, BME, Nissan, Ford, and Volkswagen, are investing in electric cars. These investments are expected to show results in the next 5-10 years.
  • The demand for brake fluids is expected to grow moderately, owing to the slowdown of the automotive industry during the forecast period.
Brake Fluids Market Volume Share

Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region is expected to account for the largest market for brake fluids during the forecast period.
  • In the Asia-Pacific region, the governments have adopted favorable policies toward the adoption of electric vehicles and expanding the manufacturing infrastructure pertaining to electric vehicles. This, in turn, is anticipated to provide a huge impetus to the electric vehicle market in the Asia-Pacific region, during the forecast period.
  • Even though the Chinese automotive market declined in 2019, the electric vehicle segment witnessed a huge growth.
  • According to Autocarpro, the total electric vehicle sales in India in FY 2019 have been more than 480,000 units. This includes electric two-wheelers, electric three-wheelers, and electric passenger vehicles. This growth is majorly a result of the government's announcement in April 2019, about the FAME II (Faster Adoption and Manufacturing of Electric Vehicles) scheme.
  • However, the slowdown in the automotive industry in countries of the Asia-Pacific region is expected to hamper the growth of the market studied during the forecast period.
Brake Fluids Market Regional Trends

Competitive Landscape

The global brake fluids market is partially fragmented. The major companies of the market studied include Total, Robert Bosch (France) SAS, Castrol Limited (BP), Exxon Mobil Corporation, and BASF SE, among others.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increase in the Production of Electric Vehicles

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Slowdown in the Global Automotive Production

      2. 4.2.2 Unfavorable Conditions Arising Due to COVID-19 Outbreak

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Fluid Type

      1. 5.1.1 Petroleum

      2. 5.1.2 Non-petroleum

    2. 5.2 Product Type

      1. 5.2.1 DOT 3

      2. 5.2.2 DOT 4

      3. 5.2.3 DOT 5

      4. 5.2.4 DOT 5.1

    3. 5.3 Application

      1. 5.3.1 Light Commercial Vehicles

      2. 5.3.2 Passenger Cars

      3. 5.3.3 Others

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 ASEAN Countries

        6. 5.4.1.6 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 Italy

        4. 5.4.3.4 France

        5. 5.4.3.5 Spain

        6. 5.4.3.6 Turkey

        7. 5.4.3.7 Czech Republic

        8. 5.4.3.8 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle-East and Africa

        1. 5.4.5.1 Iran

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%) /Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 BASF SE

      2. 6.4.2 Castrol Limited (BP)

      3. 6.4.3 Chevron Corporation

      4. 6.4.4 China Petroleum & Chemical Corporation (SINOPEC)

      5. 6.4.5 Dow

      6. 6.4.6 Exxon Mobil Corporation

      7. 6.4.7 FUCHS

      8. 6.4.8 Hi-Tec Oils Pty Ltd.

      9. 6.4.9 Morris Lubricants

      10. 6.4.10 Motul

      11. 6.4.11 Repsol

      12. 6.4.12 Robert Bosch (France) SAS

      13. 6.4.13 Total

      14. 6.4.14 Valvoline Inc.

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Brake Fluids Market market is studied from 2016 - 2026.

The Brake Fluids Market is growing at a CAGR of >2% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

Robert Bosch (France) SAS, Castrol Limited (BP), Exxon Mobil Corporation, BASF SE , Total are the major companies operating in Brake Fluids Market.

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