According to a recent market study published by Growth Market Reports (GMR), titled, “Global Automotive Brake Fluid Market by product types, fluid types, vehicle types, distribution channel and region: Size, Share, Trends and Opportunity Analysis, 2017-2027”, the market was valued at USD 2,690.4 million in 2019 and is expected to grow at a growth rate of around 2.0% by the year 2027.
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Brake fluid performs a pivotal vital role in the functioning of the car, which helps the braking system generate the hydraulic force required for operation. Brake lines are mechanical components in the braking system that transfer the brake fluid from the main hydraulic cylinder to the brake calipers or wheel cylinders. When the brake is applied, the brake fluid in the brake lines forces the brake pad to press against the rotor, ensuring that the vehicle is decelerated safely and comfortably.
The global brake fluid market is driven by factors such as growing number of automotive original equipment manufacturers (OEMs) and car service providers, product innovations in automotive brake fluids, increasing demand for commercial vehicles, and emerging vehicle financing. Conversely, frequent need to change automotive brake fluid and replacement of traditional hydraulic braking systems by brake-by-wire are likely to restrain the market. Increasing consumer disposable income and growing demand for vehicles in developing countries is creating growth prospects for the market. Increased vehicle production and increased demand for lightweight vehicles are projected to boost the market for automotive brake fluids during the forecast period. The increase in demand for vehicles with advanced braking systems is also a key factor expected to drive the automotive brake fluid market during the forecast period. Strong standards on the automotive industry with regard to safety concerns by global regulators are expected to increase the market for automotive brake fluids.
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As per GMR industry analysts Rajat Verma, “The global automotive brake fluid market is anticipated to witness significant growth during forecast period 2021-2027. The rising demand for vehicles in countries such as China and India are expected to drive growth in the automotive brake fluid market. Several companies such as BASF are investing on production sites in these regions in order to meet local demand”.
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Report Metric |
Details |
Market Value in 2019 |
USD 2,690.4 Million |
Market Growth Rate (from 2020 to 2027) |
2.0% |
Historical Data |
2017 & 2018 |
Base Year |
2019 |
Forecast Period |
2020 – 2027 |
Units Considered |
Value (USD Million) & Volume (Thousand Liter) |
Market Segments |
By Product Types, By Fluid Types, By Vehicle Types, By Distribution Channel, By Region |
Regional Scope |
North America, Europe, Asia Pacific, China, Latin America, Middle East & Africa (MEA) |
Country Scope |
U.S., Canada, Germany, France, Italy, U.K, Spain, Russia, Rest of Europe, China, Japan, South Korea |
Key Companies Profiled |
BASF SE, Exxon Mobil Corporation, Chevron Corporation, China FAW Group Co., Ltd., China National Petroleum Corporation, Robert Bosch GmbH, Lubrication Engineers, COPTON Technology Co.,Ltd, Guangdong Delian Group Co., ltd., China Petrochemical Corporation, Kuwait Petroleum Corporation, Honda Motor Co., Inc, Prestone Products, DuPont, Gulf Oil L.P., Clariant, Motul, Castrol Limited, Knorr-Bremse AG |
Customization Scope |
Report customization available on request |
Pricing and Purchase Options |
Avail tailor-made purchase options to meet your research requirements. |
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