Brake Fluid Market Key Players, Trends, Growth Opportunities
and Industry Forecast till 2022
“The automotive brake fluids are changed in a year or two
and monthly in sports (racing) automotive to improve
durability and safety of automobile, affecting brake fluid
market remarkably.”
The global brake fluid market is expected to grow at a CAGR of 7.9% by 2022. The Market is anticipated to grow
considerably owing to increased manufacturing of vehicles and the growing demand for lightweight vehicles.
Brake fluid is also known as hydraulic fluid and is used in clutch and hydraulic brake applications in automobiles.
It transfers force into pressure and amplifies the brake force. In short, when the foot brakes are applied, brake
fluid transfers this force into pressure to the rear and front brakes, which slows down or stops the vehicle.
Moreover, automotive brake fluid prevents corrosion and act as lubricant for all the moving components.
The automotive brake fluids are changed in a year or two and monthly in sports (racing) automotive to improve
durability and safety of automobile, affecting brake fluid market remarkably. The increase in number of
automotive OEMs and car servicing centers have resulted in the growth of technological modernization and
product improvements in brake fluids by leading companies like Castrol, BASF, Bosch, Exxon Mobil, and Dow
Automotive Systems, etc. Owing to these renovations, brake fluid market is projected to grow significantly in
the years to come.
Increase in demand for automobile with improved braking system is the major factor driving brake fluid market
in the coming years. Strict regulations for automotive industries regarding safety by regulatory bodies
worldwide is predicted to augment the market greatly. Brake fluid is responsible for numerous braking activities
like better braking response, durability, and flexibility, which is likely to offer lucrative opportunities in brake
fluids market in the near future.
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