The Global Brake oil Aftermarket for Off-highway vehicles Market accounted for US$ 12873.1 million in 2020 and is estimated to be US$ 21492.2 million by 2030 and is anticipated to register a CAGR of 5.3%. Brake oil is a type of hydraulic fluid used in hydraulic brake and hydraulic clutch applications in automobiles, motorcycles, light trucks, and off-road vehicles. Brake oil is renewed or changed every one to two years in off-road vehicle in order to improve the safety and durability of vehicles. Thus, the brake oil aftermarket has been expanding across the globe. Newly developed state-of-the-art brake oil offers better performance reliability with efficient results. Glycol fluids are the most commonly used in most motor vehicles in various grades. They are named by the Department of Transport (DOT) coding and are classified into DOT 3, DOT 4, DOT 5, and DOT 5.1.

The report “Global Brake oil Aftermarket for Off-highway vehicles Market, By Type (DOT 3, DOT 4, DOT 5, and DOT 5.1), By Application (Mining, Construction, and Agriculture), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2029”

Key Highlights:

In January 2018, Lukoil signed a contract with Elabuga car plant (ELAZ), Turkey, wherein the former will supply first fill lubricants for ELAZ-BL backhoe loaders. The company will also supply a wide spectrum of hydraulic, motor, transmission, and universal tractor oils. In October 2017, Lukoil entered into a strategic partnership with the Russian Export Center.
Analyst View:

Rise in mining and construction activities is driving the off-highway brakeoil aftermarket. The frequency of oil change and other maintenance is expected to increase with the growth in age of off-highway vehicles such as heavy trucks and mining vehicles. Vehicles require brakeoil change to ensure safety of the passengers and maintenance of the vehicle for long life and high efficiency.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Brake oil Aftermarket for Off-highway vehicles Market By Type (Distillate Fuel Oil, Residual Fuel Oil, and LNG), By Application (Tanker Vessels, Container Vessels, Bulk Vessels, and General Cargo Vessels), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2029”

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Key Market Insights from the report:

The Global Brake oil Aftermarket for Off-highway vehicles Market accounted for US$ 12873.1 million in 2020 and is estimated to be US$ 21492.2 million by 2030 and is anticipated to register a CAGR of 5.3%. The global brake oil aftermarket for off-highway vehicles market report segments the market on the basis of type, application, and region.

By type, the Global Brake oil Aftermarket for Off-highway vehicles Market is segmented into DOT 3, DOT 4, DOT 5 and DOT 5.
By application, the market is segmented in Mining, Construction and Agriculture
By region, the Global Brake oil Aftermarket for Off-highway vehicles Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape:

The key players operating in the Global Brake oil Aftermarket for Off-highway vehicles Market include BRB International BV, Fuchs Petrolub SE, Halron Lubricants, Inc., Lukoil Lubricants, Inc., Phillips 66 Lubricants, Inc., Royal Dutch Shell PLC, Indian Oil Corporation Limited, Topaz Energy Group and Castrol Ltd.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period
Key Topics Covered

Introduction
Study Deliverables
Study Assumptions
Scope of the Study
Research Methodology
Executive Summary
Opportunity Map Analysis
Market at Glance
Market Share (%) and BPS Analysis, by Region
Competitive Landscape
Heat Map Analysis
Market Presence and Specificity Analysis
Investment Analysis
Competitive Analysis
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