The Axiom MRC added a report on Brake Fluid Market is an essential element of the hydraulic braking system. Its major application includes automobiles, motorcycles, light trucks and bicycles. It enables the smooth working of the hydraulic brake system and resist against the high- temperature created by the braking system. The standards and specification are set by the society of automotive engineers and the department of transportation (DOT) for the performance of the brake fluid.

Brake Fluid Market Outlook
The brake fluid markets have a developing potential owing to the rising demand in the automotive sector and increasing numbers of automotive, OEMs and car service providers globally. Moreover, technological advancement, increasing investment of many major players in the market and increasing production of vehicles fuels the market growth. However, new technological developments such as brake by wire which may replace the traditional hydraulic braking system may hinder the growth of the market.

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Brake Fluid Market Segmental Overview
The global brake fluid market is segmented into fluid type, product type and geography.

Brake Fluid Market by Fluid Type
Based on fluid type, the global brake fluid market is categorized into petroleum and non-petroleum. The non-petroleum segment accounts for the largest market share in terms of value and volume as petroleum base brake fluid is rarely used in automobile industry. This leads to increasing demand for non-petroleum brake fluid by the automotive & transportation segment.

Brake Fluid Market by Product Type
The global brake fluid market is further bifurcated by product type into DOT 3 (glycol ether based), DOT 4 (glycol ether based/borate ester), DOT 5 (silicone based) and DOT 5.1 (borate ester/glycol ether). The appropriate fluid for a given vehicle depends on several factors, including model of the vehicle, vehicle production year, and the type of braking system employed. Moreover, increasing demand for DOT 4 (glycol ether based/borate ester) in European countries is anticipate to robust the growth of the market during the forecast period.

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Brake Fluid Market by Geography
By geography brake fluid market is studied across the countries of key regions such as, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to be the fastest-growing region during the prediction period. Factors such as rising industrialization, high regional demand increasing focus of major key players for establishing manufacturing plants in developed and developing countries like China, Japan and India are driving the growth of brake fluid market in Asia pacific.

Brake Fluid Market Key Players
Some of the key participants in the brake fluid market are Bosch Limited, BP p.l.c., Exxon Mobil Corporation, Delian Group, FUCHS, Jilin Hairun, Irico Group, Shenzhen Pingchi Industry Co, Sinopec, Zhuhai Gaida Shiye, Tianjin Xuqi Gongmao, Total, etc. The brake fluid market players are adopting merger, acquisition and product development strategies, to sustain the competition and enhance their customer base. The increase in product extensions and product innovations will strengthen the competitive environment among the market payers.

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