The petroleum segment on the basis of fluid type, accounted for the highest revenue share in the Indonesia Automotive Brake Fluid Market - 6Wresearch
Petroleum-based brake fluid holds the major revenue and volume share in Indonesia automotive brake fluid market. The properties of petroleum-based brake fluids such as they are less prone to water contamination than non-petroleum brake fluids along with a longer shelf life and compatibility with older vehicles on the road. So, these factors help the petroleum-based brake fluid to garner more revenue.
According to 6Wresearch, the Indonesia Automotive Brake Fluid Market size is projected to grow at a CAGR of 6.9% during 2023–29. The growing investment to set up battery manufacturing plants, develop EV infrastructure, mining, and processing of Nickel from its resourceful mines along with different programs and incentives offered by the government to increase the sales and production of EVs would further propel the demand for brake fluid in Indonesia automotive market. The automobile sector in Indonesia saw extraordinary development. A total of 2.35 million cars are produced annually which pushed the Indonesia Automotive Brake Fluid Industry for related sub-sectors to gain a growth momentum. Changing brake fluid technology, technical as well as chemical dynamics of the brake fluid with the advancement in R&D along with evolving systems of automobiles for better efficiency and a transition towards automated mobility would hamper the traditional brake fluid market in coming years.”
According to Ravi Bhandari, Research Head, 6Wresearch, by Product Type, the DOT 3 type of product has dominated the market due to its wider availability, effective pricing, and compatibility with older vehicles. However, the DOT 4 type would witness the fastest growth in coming years due to its superior water-repelling properties ability to stand with higher temperatures, and its suitability for future mobilities.
The Indonesia Automotive Brake Fluid Market (2023-2029)” report provides an in-depth analysis with 24 figures and 8 tables, covered in 77 pages. The report on Indonesia Automotives Brake Fluid Market comprehensively covers the market by product type, fluid type, vehicle type, and sales channels. The report provides a detailed as well as unbiased analysis of the ongoing drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per the latest and future market dynamics.