Global Automotive Brake Fluid Market size was valued US$ XX Mn. in 2019 and the total revenue is expected to grow about 2% from 2020 to 2027, reaching nearly US$ XX Mn.
Global Automotive Brake Fluid Market: Overview
Brake system is very essential component in every vehicle. In braking system, brake fluid plays an important role in proper functioning of the brake. Good braking system ensures safety of vehicle as well as pedestrian. Popular braking systems are Hydraulic Braking System and Pneumatic Braking system. In hydraulic braking system, braking oil is used as braking fluid and in Pneumatic Braking System, air is used as braking fluid. Braking fluid transfers the pedal force to the calliper of brake.
Brake fluids are hydroscopic in nature so they absorb moisture. Due to this moisture the parts which come in contact with this fluid may get corroded. This may create restraint in growth in market of brake fluid. Key manufacturers like Castrol, BASF and Bosch are trying to find solution on this problem.