Hydraulic Fluids Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Hydraulic Fluids Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Report Format: PDF+Excel | Report ID: SR112023A5300
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Market Overview:

The global hydraulic fluids market reached a value of US$ 8.69 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 12.99 Billion by 2027, exhibiting a CAGR of 6.72% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Hydraulic fluids refer to different forms of lubricants that act as mediums for transmitting power into hydraulic machinery components. Comprising of water and mineral oil, they are commonly available in bio-based, fire-resistant, and petroleum-based variants. Hydraulic fluids uses the force of non-compressing fluids present in different parts of the vehicle for heat transfer, lubrication, contamination removal, sealing and contamination control purposes. They are also widely incorporated in aircraft flight control systems, hydraulic brakes, excavators, power steering systems, garbage trucks, industrial machinery equipment and lifts. As compared to conventional turbine oil, hydraulic fluids exhibit improved stability at high temperature, higher filterability, thermal and oxidation stability, enhanced viscosity and compressibility, and better foam, wear and corrosion resistance. 

 

 
 

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Hydraulic Fluids Market Trends:

The substantial growth in the automotive industry across the globe is creating a positive outlook for the market growth. Hydraulic fluids are widely used in different areas of the vehicle, including power steering systems, engine oil, gear oil, brakes, and clutches to create force, protect against erosion by chemical reaction, and reduce friction between components, thus assisting in enhancing the overall life cycle of the automobile.   In line with this, hydraulic fluids are highly compatible with advanced automotive parts, which, in turn, helps in lowering vehicle emissions. Apart from this, various product innovations, such as the introduction of biodegradable hydraulic fluids that are ecologically responsive, non-toxic and environmentally friendly are providing an impetus to the market growth. Furthermore, the increasing product demand in heavy equipment, such as backhoes, diggers, truck loaders and bulldozers for civil engineering and construction projects, are positively impacting the market growth. Other factors, including rising industrialization, especially in developing regions, and the implementation of various government initiatives to promote the use of bio-based hydraulic fluids, are anticipated to drive the market toward growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global hydraulic fluids market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on base oil, point of sale and end user.

Breakup by Base Oil:

 

 
 

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  • Synthetic Oil
  • Mineral Oil
  • Bio-based Oil
     

Breakup by Point of Sale:

  • Original Equipment Manufacturer (OEM)
  • Aftermarket
     

Breakup by End User:

  • Oil and Gas
  • Marine
  • Automotive
  • Aerospace and Defense
  • Construction
  • Others
     

Breakup by Region:

 

 
 

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  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being BASF SE, bp p.l.c., Chevron Corporation, China National Petroleum Corporation, China Petroleum & Chemical Corporation, Croda International Plc, Dow Inc., Eastman Chemical Company, Exxon Mobil Corporation, Fuchs Petrolub SE, Idemitsu Kosan Co. Ltd., Lukoil, Phillips 66 Company, Royal Dutch Shell plc and TotalEnergies SE.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Base Oil, Point of Sale, End User, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered BASF SE, bp p.l.c., Chevron Corporation, China National Petroleum Corporation, China Petroleum & Chemical Corporation, Croda International Plc, Dow Inc., Eastman Chemical Company, Exxon Mobil Corporation, Fuchs Petrolub SE, Idemitsu Kosan Co. Ltd., Lukoil, Phillips 66 Company, Royal Dutch Shell plc and TotalEnergies SE.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Key Questions Answered in This Report:

  • How has the global hydraulic fluids market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global hydraulic fluids market?
  • What are the key regional markets?
  • What is the breakup of the market based on the base oil?
  • What is the breakup of the market based on the point of sale?
  • What is the breakup of the market based on the end user?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global hydraulic fluids market and who are the key players?
  • What is the degree of competition in the industry?

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Hydraulic Fluids Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027
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