Brake Fluids Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Brake Fluids Market Manufacturers and 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). The market sizes and forecasts for the Brake Fluids Market are provided based on volume (liters) for all the above segments.

Brake Fluids Market Size

Single User License

$4750

Team License

$5250

Corporate License

$8750

Book before:
Brake Fluids Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR (2024 - 2029) 4.05 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Brake Fluids Market Major Players

*Disclaimer: Major Players sorted in no particular order

Need a report that reflects how COVID-19 has impacted this market and its growth?

Single User License

$4750

Team License

$5250

Corporate License

$8750

Book before:

Brake Fluids Market Analysis

The Brake Fluids Market size is estimated at 1.19 Billion liters in 2024, and is expected to reach 1.45 Billion liters by 2029, growing at a CAGR of 4.05% during the forecast period (2024-2029).

The COVID-19 pandemic harmed the brake fluids sector. Global lockdowns and severe rules enforced by governments resulted in a catastrophic setback as most production hubs were shut down. Nonetheless, the business is recovering since 2021 and is expected to rise significantly in the coming years.

  • The major factor driving the market studied is an increase in the production of electric vehicles and remarkable growth in automotive production in emerging economies.
  • On the flip side, stringent safety standards associated with using brake fluids are hindering the market's growth.
  • The technological development in the automobile sector is expected to act as an opportunity for the market studied.
  • The Asia-Pacific region represents the largest market and is expected to be the fastest-growing market over the forecast period, owing to the consumption from countries such as China, India, and Japan.

Brake Fluids 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 commercial vehicles, and others.
  • Brake fluids are used in electric vehicles. The recent increase in the production of electric vehicles is driven by the initiatives taken by several governments toward zero-emission and eco-friendly vehicles, as well as growing consumer awareness is boosting the market demand.
  • Many global automotive manufacturers, including Tesla, General Motors, Toyota, BME, Nissan, Ford, and Volkswagen, are significantly investing in electric cars. These investments are expected to show results in the next 5-10 years.
  • In the first three quarters of 2022, around 50 million passenger cars were manufactured worldwide, which increased by nearly 9% compared to the same quarter in 2021. However, this was still less by around 5 million units from pre-pandemic levels in 2019, according to the European Automobile Manufacturers' Association (ACEA) report.
  • As per the World Economic Forum (WEF), nearly 4.3 million new battery-powered EVs (BEVs) and plug-in hybrid electric vehicles (PHEVs) were sold globally in the first half of 2022. Additionally, BEV sales grew by around 75% yearly and PHEVs by 37%. Moreover, global electric car sales crossed the 5.7 million units mark in the first eight months of 2022, and the market share of plug-in electric cars increased to nearly 15%.
  • As per data published by the International Organization of Motor Vehicles (OICA), the world production of light commercial vehicles (LCV) in 2022 accounted for 19,860,126 units, which increased by 7% compared to 2021.
  • Thus, due to the factors above, the demand for brake fluids is expected to grow during the forecast period.
Brake Fluids Market - Light Commercial Vehicle Production, in Million Units, Global, 2019-2022

Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region is expected to account for the largest brake fluid market due to the presence of leading automobile producers such as China, India, Japan, and South Korea. These countries are working hard to strengthen the manufacturing base for vehicles and develop efficient supply chains for greater profitability.
  • In the Asia-Pacific region, the governments adopted favorable policies toward adopting electric vehicles and expanding the manufacturing infrastructure of electric vehicles. It, in turn, is anticipated to provide a huge impetus to the brake fluids market in the Asia-Pacific region during the forecast period.
  • According to the China Association of Automobile Manufacturers (CAAM), China includes the largest automotive producer in the world, with a total vehicle production of 27 million units in 2022, registering an increase of 3.4% compared to 26 million units produced last year.
  • Moreover, in India, during FY 2021-22 (April 2021 to March 2022), according to the Society of Indian Automobile Manufacturers (SIAM), the country's automotive industry produced a total of 22,933,230 units of vehicles in 2022. Further, according to the Centre for Monitoring Indian Economy (CMIE), car production increased to 1,93,629 units in July 2022 from 1,69,519 units in June 2022. Such factors are likely to increase the demand for brake fluids.
  • Further, according to OICA, in 2022, the total production of motor vehicles in Japan and South Korea accounted for 7,835,519 units and 3,757,049 units, respectively.
  • The demand for brake fluids in Asia Pacific is expected to grow owing to the factors above.
Brake Fluids Market - Growth Rate by Region

Brake Fluids Industry Overview

The global brake fluids market is partially fragmented in nature. The major players (not in any particular order) include TotalEnergies, Robert Bosch LLC, CASTROL LIMITED, Exxon Mobil Corporation, and BASF SE.

Brake Fluids Market Leaders

  1. Exxon Mobil Corporation

  2. BASF SE

  3. Robert Bosch LLC

  4. CASTROL LIMITED

  5. TotalEnergies

*Disclaimer: Major Players sorted in no particular order

Brake Fluids Market Concentration
Need More Details on Market Players and Competitors?
Download PDF

Brake Fluids Market News

The recent developments about the major players in the market are covered in the complete study.

Brake Fluids Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Drivers
    • 4.1.1 Increase in the Production of Electric Vehicles
    • 4.1.2 Remarkable Growth in Automotive Production in Emerging Economies
    • 4.1.3 Other Drivers
  • 4.2 Restraints
    • 4.2.1 Stringent Safety Standard Associated With the Use of Braking Fluids
    • 4.2.2 Other Restraints
  • 4.3 Industry Value Chain Analysis
  • 4.4 Porter's Five Forces Analysis
    • 4.4.1 Bargaining Power of Suppliers
    • 4.4.2 Bargaining Power of Consumers
    • 4.4.3 Threat of New Entrants
    • 4.4.4 Threat of Substitute Products and Services
    • 4.4.5 Degree of Competition

5. MARKET SEGMENTATION (Market Size in Volume)

  • 5.1 Fluid Type
    • 5.1.1 Petroleum
    • 5.1.2 Non-petroleum
  • 5.2 Product Type
    • 5.2.1 DOT 3
    • 5.2.2 DOT 4
    • 5.2.3 DOT 5
    • 5.2.4 DOT 5.1
  • 5.3 Application
    • 5.3.1 Light Commercial Vehicles
    • 5.3.2 Passenger Cars
    • 5.3.3 Others
  • 5.4 Geography
    • 5.4.1 Asia-Pacific
    • 5.4.1.1 China
    • 5.4.1.2 India
    • 5.4.1.3 Japan
    • 5.4.1.4 South Korea
    • 5.4.1.5 ASEAN Countries
    • 5.4.1.6 Rest of Asia-Pacific
    • 5.4.2 North America
    • 5.4.2.1 United States
    • 5.4.2.2 Canada
    • 5.4.2.3 Mexico
    • 5.4.3 Europe
    • 5.4.3.1 Germany
    • 5.4.3.2 United Kingdom
    • 5.4.3.3 Italy
    • 5.4.3.4 France
    • 5.4.3.5 Spain
    • 5.4.3.6 Turkey
    • 5.4.3.7 Czech Republic
    • 5.4.3.8 Rest of Europe
    • 5.4.4 South America
    • 5.4.4.1 Brazil
    • 5.4.4.2 Argentina
    • 5.4.4.3 Rest of South America
    • 5.4.5 Middle-East and Africa
    • 5.4.5.1 Iran
    • 5.4.5.2 South Africa
    • 5.4.5.3 Rest of Middle-East and Africa

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Market Share Analysis (%)**/Ranking Analysis
  • 6.3 Strategies Adopted by Leading Players
  • 6.4 Company Profiles
    • 6.4.1 BASF SE
    • 6.4.2 CASTROL LIMITED
    • 6.4.3 Chevron Corporation
    • 6.4.4 China Petrochemical Corporation (SINOPEC)
    • 6.4.5 Dow
    • 6.4.6 Exxon Mobil Corporation
    • 6.4.7 FUCHS
    • 6.4.8 Hi-Tec Oils Pty Ltd.
    • 6.4.9 Morris Lubricants
    • 6.4.10 Motul
    • 6.4.11 Repsol
    • 6.4.12 Robert Bosch LLC
    • 6.4.13 TotalEnergies
    • 6.4.14 Valvoline
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1 Technological Development in Automobile Sector
  • 7.2 Other Opportunities
** Subject To Availablity
**Subject to Availability
You Can Purchase Parts Of This Report. Check Out Prices For Specific Sections
Get Price Break-up Now

Brake Fluids Industry Segmentation

Brake fluid is a type of hydraulic fluid extensively used in automobiles' hydraulic clutch and braking system applications. It plays a significant role in the functioning of brakes as it converts the force from the depressed brake pedal into pressure which helps to stop the vehicle. The brake fluids market is segmented by fluid type, product type, application, and geography. By fluid type, the market is segmented into petroleum and non-petroleum. The market is segmented by product type into DOT3, DOT4, DOT5, and DOT5.1. The market is segmented by application into passenger cars, light commercial vehicles, and others. The report also covers the market size and forecasts for the brake fluids market in 15 countries across major regions. The market sizing and forecasts are done for each segment in volume (liters).

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
Geography North America United States
Canada
Mexico
Geography Europe Germany
United Kingdom
Italy
France
Spain
Turkey
Czech Republic
Rest of Europe
Geography South America Brazil
Argentina
Rest of South America
Geography Middle-East and Africa Iran
South Africa
Rest of Middle-East and Africa
Need A Different Region Or Segment?
Customize Now

Brake Fluids Market Research FAQs

The Brake Fluids Market size is expected to reach 1.19 billion liters in 2024 and grow at a CAGR of 4.05% to reach 1.45 billion liters by 2029.

In 2024, the Brake Fluids Market size is expected to reach 1.19 billion liters.

Exxon Mobil Corporation, BASF SE , Robert Bosch LLC, CASTROL LIMITED and TotalEnergies are the major companies operating in the Brake Fluids Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in Brake Fluids Market.

In 2023, the Brake Fluids Market size was estimated at 1.14 billion liters. The report covers the Brake Fluids Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Brake Fluids Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Brake Fluids Industry Report

The Brake Fluids Market is a comprehensive industry report that provides an in-depth analysis of the market size, market share, and industry trends. This market research covers various segments based on fluid type, product type, application, and geography. The report includes detailed market data and market forecast, offering insights into the market growth and market outlook.

The industry analysis highlights the global market dynamics and market segmentation, providing a thorough industry overview. The market report also features industry information and market review, focusing on the key market leaders and market predictions. The industry reports present a detailed industry size and industry statistics, essential for understanding the market value and market trends.

This report example includes a market forecast outlook and historical overview, offering a complete market analysis. The industry research is supported by industry sales data and market predictions, ensuring a comprehensive understanding of the market segmentation and market value.

For further information, the report is available as a free report PDF download, providing a detailed report pdf and research companies' insights. This industry outlook is crucial for understanding the market growth and market leaders, ensuring a thorough market review and market overview. The industry reports and market data are essential for understanding the industry trends and market outlook, ensuring a comprehensive market analysis and market forecast.

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!

Brake Fluids Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)