DUBLIN, Dec. 14, 2023 /PRNewswire/ — The “Indonesia Automotive Brake Fluid Market | Size, Trends, Industry, Share, Revenue, Analysis, Growth, Value, Segmentation, Outlook & COVID-19 IMPACT: Market Forecast By Product Type,?By Fluid Type,?By Vehicle Type,?By Sales Channel?And Competitive Landscape” report has been added to ResearchAndMarkets.com’s offering.
Indonesia Automotive Brake Fluid Market size is projected to grow at a CAGR of 6.9% during 2023-2029
The automotive industry is one of the primary pillars supporting the development of the industrial sector and the overall national economy, as evidenced by the growth of the transportation and shipping industry by 21.27% in 2021-2022. As per government stats, almost $9 billion had been invested in the automotive industry withthe production of 2.35 million vehicles in 2021.
Also, the sales tax rebates offered by the government for automobiles are expected to boost the utilization and performance of the automotive component industry while reducing sales shocks and giving traction to the automotive industry’s growth in the coming years. Also, mining is one of the major industries which has two aspects; one is the application of commercial vehicles whose sales were up by almost 19% at 270,174 units in 2022 from the level a year ago.
Synopsis
Indonesia Automotive Brake Fluid Market registered a growth of 29.46% in value shipments in 2021 as compared to 2020 and a decrease of -10.55% CAGR in 2021 over a period of 2017. In Automotive Brake Fluid Market Indonesia is becoming more competitive as the HHI index in 2021 was 1317 while in 2017 it was 1933.
Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market.
Indonesia has reportedly relied more on imports to meet its growing demand in Automotive Brake Fluid Market. India is unable to meet its increasing needs of this product with domestic production hence we see the trend is shifting towards import shipment to meet its demand The import factor of Automotive Brake Fluid Market in 2021 was 20.59 while in 2017 it was 16.55.
Australia, Japan, Thailand, China and Singapore were among the top players of the market in 2021, where Australia acquired the largest market share of 21.8% with a shipment value of 2.02 million USD in 2022 Australia also offered the product above the average market price, but remained at the leadership position indicating the trust it holds in the Automotive Brake Fluid Market. In 2017 Australia had the largest market share of 34.63% with the shipment value of 4.33 million USD.
The country was offering its product with an average price which is higher than the average market price offered in the country. Although Australia offers its product above the market average price, it remained at the leadership position indicating the brand value it holds in the Indonesia Automotive Brake Fluid Market in 2017.
Market by Product Type
DOT 4.0 would be the fastest growing segment on the back of its better chemical and technical specifications such as sustaining high temperature and pressure and having low moisture absorption and thus make it suitable for future mobility. However, the DOT3.0 would remain the dominating segment in Brake Fluid Market in Indonesia due to its low pricing, ease in availability and its usage in replacement for older automobiles.
Market by Fluid Type
Petroleum based brake fluid dominated the market and it is expected to remain the largest segment in the forecast period as well on account of its wider application in automotive sector and also it is cost effective in comparison to non-petroleum-based brake fluids.
Market by Vehicle Type
Growing mining activities, along with increasing logistics and industrial sector would propel the sales of commercial vehicle in Indonesia which in turn would make a rise in consumption of brake fluids for commercial vehicles. However, the passenger vehicle segment would hold the largest market share due to rising demand for automobiles from growing population and their rising income level.
Market by Sales Channel
Aftersales market would remain the fastest growing segment on the back of rising new car sales and old vehicles as well which would further offer the replacement market for brake fluids in coming years. Also, easily available nearby shops with wide range of product offering from different brands make the aftersales market as largest revenue generating segment.
Key Highlights of the Report
- Indonesia Automotive Brake Fluid Market Overview
- Indonesia Automotive Brake Fluid Market Outlook
- Indonesia Automotive Brake Fluid Market Forecast
- Historical Data and Forecast of Indonesia Automotive Brake Fluid Market Revenues and Volume, for the Period 2019-2029F
- Historical Data and Forecast of Indonesia Automotive Brake Fluid Market Revenues, By Product Type, for the Period 2019-2029F
- Historical Data and Forecast of Indonesia Automotive Brake Fluid Market Revenues, By Fluid Type, for the Period 2019-2029F
- Historical Data and Forecast of Indonesia Automotive Brake Fluid Market Revenues, By Sales Channel, for the Period 2019-2029F
- COVID-19 Impact on Indonesia Automotive Brake Fluid Market
- Indonesia Automotive Brake Fluid Market Drivers and Restraints
- Indonesia Automotive Brake Fluid Market Trends
- Indonesia Automotive Brake Fluid Market Porters Five Forces
- Indonesia Automotive Brake Fluid Market Opportunity Assessment, By Product Types, 2029F
- Indonesia Automotive Brake Fluid Market Opportunity Assessment, By Fluid Type, 2029F
- Indonesia Automotive Brake Fluid Market Opportunity Assessment, By Sales Channel, 2029F
- Indonesia Automotive Brake Fluid Market Opportunity Assessment, By Vehicle Type, 2029F
- Import- Export Statistics
- Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Company Profiles
- Exxon Mobil Corporation
- Castrol Limited
- Liqui Moly
- Motul Tech
- Sinopec Lubricant Pte Ltd
- Fuchs Petrolub Se
- Hi-Tec Oils Pty Ltd
- Morris Lubricants
- Repsol
- Bosch Group
Market Scope and Segmentation
By Product Type
- DOT 3 Glycol
- DOT 4 Glycol
- DOT 5 Silicon
By Fluid Type
- Petroleum
- Non-Petroleum
By Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
- Off-Road
By Sales Channel
- OEMs
- After Sales
For more information about this report visit https://www.researchandmarkets.com/r/cwq2pq
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