Increasing demand for heavy machinery in construction industry, rapidly growing construction activities are factors expected to drive adoption of hydraulic fluids, which is a key factor driving market revenue growth.
Market Size - USD 7,638.2 Million in 2020, Market Growth - CAGR of 2.9%, Market Trends - Rising concerns regarding environmental issues due to use of petroleum-oils is resulting in shifting preference for bio-based hydraulic fluids.
The global hydraulic fluid market size is expected to reach USD 9,629.2 Million in 2028, and register a CAGR of 2.9% during the forecast period. Increasing infrastructure projects, growing need for material-handling equipment, increasing preference for advanced agricultural instruments, and coupled with growing awareness regarding benefits of hydraulic equipment in various sectors are boosting demand for hydraulic fluids, thereby driving market growth.
Availability of substitutes at lower costs, fluctuating prices of crude oil, stringent regulations regarding environment safety and restrictions on using petroleum-oil fluids are major factors that could hamper market growth. In addition, mineral oil- and hydrocarbon-based hydraulic fluids are considered as toxic and harmful for human beings and environment, which could hamper growth of the global hydraulic fluid market.
Some Key Findings From the Report:
For the purpose of this report, the global hydraulic fluid market has been segmented on the basis of base oil type, connector type, industry vertical, and region:
Base Oil Type Outlook
Connector Type Outlook
Industry Vertical Outlook
Region Outlook
Reasons to Buy the Report
Market Size - USD 7,638.2 Million in 2020, Market Growth - CAGR of 2.9%, Market Trends - Rising concerns regarding environmental issues due to use of petroleum-oils is resulting in shifting preference for bio-based hydraulic fluids.
The global hydraulic fluid market size is expected to reach USD 9,629.2 Million in 2028, and register a CAGR of 2.9% during the forecast period. Increasing infrastructure projects, growing need for material-handling equipment, increasing preference for advanced agricultural instruments, and coupled with growing awareness regarding benefits of hydraulic equipment in various sectors are boosting demand for hydraulic fluids, thereby driving market growth.
Availability of substitutes at lower costs, fluctuating prices of crude oil, stringent regulations regarding environment safety and restrictions on using petroleum-oil fluids are major factors that could hamper market growth. In addition, mineral oil- and hydrocarbon-based hydraulic fluids are considered as toxic and harmful for human beings and environment, which could hamper growth of the global hydraulic fluid market.
Some Key Findings From the Report:
- Among the base oil segments, the mineral oil segment accounted for the largest revenue share in the global hydraulic fluid market in 2020. The bio-based oil is expected to register the highest revenue growth rate during the forecast period.
- Among the industry vertical segments, the original equipment manufacturers (OEMs) segment accounted for the largest revenue share in 2020. The automotive industry is expected to register a robust revenue CAGR during the forecast period.
- The Asia Pacific market accounted for major revenue share in 2020, and is expected to continue with its dominance over the forecast period.
- Companies profiled in the market report include Eastman Chemical Company, British Petroleum Plc., LUKOIL Lubricants Company, Condat, Royal Dutch Shell plc, BASF SE, Castrol Limited, The Dow Chemical Company, Exxon Mobil Corporation, and Schaeffer Manufacturing Co. The market players have adopted various strategies including mergers, acquisitions, partnerships, and new product developments, among other strategies, to stay ahead of the competition and expand market footprint.
For the purpose of this report, the global hydraulic fluid market has been segmented on the basis of base oil type, connector type, industry vertical, and region:
Base Oil Type Outlook
- Semi-synthetic Oil
- Mineral Oil
- Bio-based Oil
- Synthetic Oil
Connector Type Outlook
- Mobile Fluid Connectors
- Stationary Fluid Connectors
Industry Vertical Outlook
- Original Equipment Manufacturers (OEMs)
- Construction Equipment
- Marine
- Aviation
- Automotive
- Oil & Gas
- Others
Region Outlook
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East & Africa
Reasons to Buy the Report
- A robust analysis and estimation of the Hydraulic Fluid Market with four levels of quality check - in-house database, expert interviews, governmental regulation, and a forecast specifically done through time series analysis
- A holistic competitive landscape of the all the major players in Hydraulic Fluid Market. The report covers their market shares, strategic initiatives, new product launches, R&D expenditure, M&As, Joint ventures, expansionary plans, product wise metric space analysis and key developments
- Go-to-market strategies specifically formulated in line with location analysis which takes into the factors such as government regulations, supplier mapping, supply chain obstacles, and feedback from local vendors
- Most deep dive segmental bifurcation available currently in the market. Our stellar methodology helps us understand the overall gamut of the supply chain and will help you explain the current market dynamics
- Special focus given on
Table of Contents
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 4. Hydraulic Fluid Market Segmentation & Impact Analysis
Chapter 5. Hydraulic Fluid Market By Base Oil Type Insights & Trends
Chapter 6. Hydraulic Fluid Market By Connector Type Insights & Trends
Chapter 7. Hydraulic Fluid Market By Industry Vertical Insights & Trends
Chapter 8. Hydraulic Fluid Market Regional Outlook
Chapter 9. Competitive Landscape
Chapter 10. Company Profiles
Companies Mentioned
- Eastman Chemical Company
- British Petroleum Plc.
- LUKOIL Lubricants Company
- Condat
- Royal Dutch Shell plc
- BASF SE
- Castrol Limited
- The Dow Chemical Company
- Exxon Mobil Corporation
- Schaeffer Manufacturing Co.
