Brake oil Aftermarket for Off-highway vehicles Size, Share, Trends and Future Growth Predictions til
Brake fluid is a type of hydraulic fluid used in hydraulic brake and hydraulic clutch applications in automobiles, motorcycles, light trucks, and Off-highway Vehicles. It is used to transfer force into pressure and to amplify braking force. Aftermarket parts are replacement parts that are made by a company other than the original manufacturer. Brakeoil needs to be replaced every one to two years for the safety and durability of vehicles.
[USPRwire, Fri May 17 2019] Brake fluid is a type of hydraulic fluid used in hydraulic brake and hydraulic clutch applications in automobiles, motorcycles, light trucks, and Off-highway Vehicles. It is used to transfer force into pressure and to amplify braking force. Aftermarket parts are replacement parts that are made by a company other than the original manufacturer. Brakeoil needs to be replaced every one to two years for the safety and durability of vehicles.
Various types of off-highway brakeoil for aftermarket services include DOT3, DOT 4, DOT 5, and DOT 5. The DOT 5 segment dominated the off-highway brakeoil aftermarket in 2016. The segment is anticipated to continue its dominance during the forecast period. Asia Pacific led the off-highway brakeoil aftermarket in terms of volume and revenue in 2016. This trend is estimated to continue during the period of forecast.
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Increase in use of off-highway brakeoil in the mining sector is one of the factors boosting the demand for brakeoil. Rise in awareness about benefits of safety and durability of vehicles is projected to drive the demand for brakeoil during the forecast period. Led by safety considerations in off-highway vehicles, regulatory authorities and market players are emphasizing more on the usage of DOT 5 brakeoil in order to have less impact of boiling point on vehicles used in rough terrains. Market share of the DOT 5 segment is likely to increase by 2025.
This report analyzes and forecasts the off-highway brakeoil aftermarket at the global and regional level. The aftermarket has been forecast based on volume (tons) and revenue (US$ Mn) from 2017 to 2025, considering 2016 as the base year. The study includes drivers and restraints of the global off-highway brakeoil aftermarket. It also covers impact of these drivers and restraints on demand for off-highway brakeoil during the forecast period. The report also highlights opportunities in the off-highway brakeoil aftermarket at the global and regional level.
The report includes detailed value chain analysis, which provides a comprehensive view of the global off-highway brakeoil aftermarket. Porter’s Five Forces model for the off-highway brakeoil aftermarket has also been included to help understand the competitive landscape. The study encompasses market attractiveness analysis, wherein products and application are benchmarked based on their market size, growth rate, and general attractiveness.
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The study provides a decisive view of the global off-highway brakeoil aftermarket by segmenting it in terms of type, end-user industry, and region. In terms of type, the off-highway brakeoil aftermarket has been classified into DOT 3, DOT 4, DOT 5, and DOT 5.1. Based on end-user industry, the off-highway brakeoil aftermarket has been divided into mining, construction, agriculture, and others. These segments have been analyzed based on present and future trends. Regional segmentation includes current and forecast demand for off-highway brakeoil in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The report provides the actual size of the off-highway brakeoil aftermarket for 2016 and estimated size for 2017 with forecast for the next eight years. The global market of off-highway brakeoil aftermarket has been provided in terms volume and revenue. Market volume has been defined in tons and revenue in US$ Mn. Market numbers have been estimated based on type and end-user industry of the off-highway brakeoil aftermarket. Market volume and size have been provided in terms of global, regional, and country level markets.
The report comprises profiles of major companies operating in the global off-highway brakeoil aftermarket. Key players operating in the off-highway brakeoil aftermarket include Royal Dutch Shell Plc., Exxon Mobil Corporation, Chevron Corporation, BP Plc., Lukoil Lubricants Company, Fuchs Petrolub SE, and Phillips 66 Lubricants. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments.
The global off-highway brakeoil aftermarket has been segmented as follows:
Off-highway Brakeoil Aftermarket, by Type
- DOT 3
- DOT 4
- DOT 5
- DOT 5.1
Off-highway Brakeoil Aftermarket, by End-user Industry
Off-highway Brakeoil Aftermarket: Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- South Africa
- Rest of Middle East & Africa
- The market for DOT 3 type of brakeoil is smaller as compared to the market for DOT 5, due to the consumer preference for silicone based brakeoil for off-highway vehicles.
- The end-consumer preference is shifting toward DOT 5 brakeoil for aftermarket services, owing to the rise in awareness about the safety of off-highway vehicles, especially used in rough terrains.
- The global mining sector prefers the use of brakeoil for off-highway vehicles.
- The construction sector prefers the use of off-highway brakeoil for the purpose of infrastructure development and real estate to meet the needs of the rising population. The agriculture sector is anticipated to expand at a faster pace during the forecast period.
- Asia Pacific is anticipated to dominate the market during the forecast period.
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