Report ID: SQSG25A2006
Automotive Brake Fluid Market Size, Share, Growth Analysis, By Product(DOT 3, DOT 4, DOT 5, DOT 5.1.), By Vehicle Types(Passenger Car, Commercial Vehicle), By Region - Industry Forecast 2024-2031
Report ID:
SQSG25A2006 |
Region:
Global |
Published Date: April, 2024
Pages:
157
|
Tables:
63 |
Figures:
75
Automotive Brake Fluid Market Regional Insights
The Asia Pacific automotive brake fluid market is anticipated to grow at a CAGR of 5% over the forecast period of 2022-2028. The region is expected to dominate the global market owing to the presence of major players in the region and rise in vehicle production. Moreover, countries such as China and India are witnessing rapid urbanization and economic development, which is further fuelling the growth of the automotive industry in the region.
Moreover, the presence of major manufacturers in the region is another key factor driving market growth. For instance, Nisshinbo Holdings Inc., JTEKT Corporation, and Aisin Seiki Co., Ltd., are some of the leading players operating in this region.
The growing demand for vehicles equipped with advanced safety features is another important factor propelling automotive brake fluid market growth in the Asia Pacific region. The government regulations regarding vehicle safety standards are also playing a vital role in boosting market growth. For instance, according to UN Regulations No. 13-H on Braking Systems for Passenger Cars & Light Trucks (UNECE Regulation 13), all newly manufactured vehicles must be equipped with an anti-lock braking system (ABS).
Automotive Brake Fluid Market Report Snapshots
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