Hydraulic fluid serves as a liquid medium to transfer power within hydraulic systems, facilitating lubrication, energy transmission, and sealing functions in machinery. These fluids, commonly formulated from mineral oil or water, incorporate additives aimed at optimizing performance and safeguarding system components.
The principal categories of hydraulic fluid encompass mineral oil, synthetic oil, and bio-based oil. Mineral oil, a clear and odorless liquid derived from petroleum, predominantly consists of hydrocarbons. It finds extensive application across diverse industrial sectors as a coolant and lubricant. The supply chain involves original equipment manufacturers (OEM) and aftermarket services, catering to end-users in sectors such as oil and gas, marine, automotive, aerospace and defense, construction, among others.
The hydraulic fluid market research report is one of a series of new reports that provides hydraulic fluid market statistics, including hydraulic fluid industry global market size, regional shares, competitors with a hydraulic fluid market share, detailed hydraulic fluid market segments, market trends and opportunities, and any further data you may need to thrive in the hydraulic fluid industry. This hydraulic fluid market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The hydraulic fluid market size has grown strongly in recent years. It will grow from $8.16 billion in 2023 to $8.62 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. Historical growth can be linked to factors such as global population increase, higher demand for environmentally friendly hydraulic fluids, industrialization growth, greater need for precise automotive control and safety, and heightened emphasis on reducing component wear.
The hydraulic fluid market size is expected to see strong growth in the next few years. It will grow to $10.8 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%.Projected growth is expected due to increased crude oil production, expanding automobile sales and manufacturing, regulatory measures, rising awareness of bio-based oils, and increasing demand for precision and automation in construction. Key trends in the forecast period include advancements in equipment cost-efficiency, investments in research and development, technological progress, industrial automation and digitization, IoT integration, and data-driven maintenance.
The growth of the hydraulic fluid market is anticipated to be driven by the increasing industrialization. This term refers to the process of economic and social transformation characterized by widespread adoption of industrial methods of production and organization. Advancements in technology, automation, and global demand for manufactured goods are fueling industrialization, resulting in enhanced productivity and economic growth across various regions. Hydraulic fluid plays a crucial role in industrialization by powering machinery and equipment through force transmission and lubrication, ensuring efficient and reliable operation in diverse applications. For example, according to Eurostat, a Luxembourg-based government statistical agency, industrial production in the European area rose by 0.2% in July 2023 compared to April 2023, indicating the impact of increasing industrialization on the hydraulic fluid market.
Leading companies in the hydraulic fluid market are focusing on developing innovative products, such as heavy-duty machine hydraulic oils, to improve performance, extend equipment lifespan, and meet the rigorous demands of modern industrial applications. These specialized lubricants are designed to withstand extreme pressures and temperatures, facilitating efficient power transfer, minimizing wear, and safeguarding hydraulic system components in heavy machinery. Volvo Construction Equipment, a Sweden-based machine industry company, introduced the HO103 hydraulic oil in May 2022, engineered to enhance performance and durability. This development allows for a 50% increase in service intervals for heavy-duty machines such as crawler excavators, enhancing efficiency, productivity, and reducing maintenance costs and downtime.
In December 2023, Bosch Rexroth AG, a Germany-based engineering company, collaborated with TotalEnergies SE to develop sustainable alternatives to traditional mineral oil-based hydraulic fluids. This partnership focuses on creating biodegradable, fire-resistant water-based hydraulic fluids that offer environmental benefits while delivering performance similar to conventional fluids. TotalEnergies SE, a France-based energy and petroleum company, is a provider of hydraulic fluid participating in this initiative.
Major companies operating in the hydraulic fluid market are Sinopec Corporation, Exxon Mobil Corporation, Shell Plc, TotalEnergies SE, BP Plc, Chevron Corporation, The Phillips 66 Company, ENI S.p.A., Reliance Industries Limited, Repsol S.A., BASF SE, Idemitsu Kosan Co. Ltd., SK Lubricants Co. Ltd., Dow Inc., Lukoil Oil Co., Caltex Australia Limited, Croda International Plc, FUCHS SE, Ashland Global Holdings Inc., Castrol Limited, Quaker Chemical Corp., Valvoline Inc., Gulf Oil Corporation Limited, Gazpromneft Lubricants Ltd.
Asia-Pacific was the largest region in the hydraulic fluid market in 2023. The regions covered in the hydraulic fluid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the hydraulic fluid market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The hydraulic fluid market consists of sales of fire-resistant fluids, antiwear fluids, and high-performance fluids. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The principal categories of hydraulic fluid encompass mineral oil, synthetic oil, and bio-based oil. Mineral oil, a clear and odorless liquid derived from petroleum, predominantly consists of hydrocarbons. It finds extensive application across diverse industrial sectors as a coolant and lubricant. The supply chain involves original equipment manufacturers (OEM) and aftermarket services, catering to end-users in sectors such as oil and gas, marine, automotive, aerospace and defense, construction, among others.
The hydraulic fluid market research report is one of a series of new reports that provides hydraulic fluid market statistics, including hydraulic fluid industry global market size, regional shares, competitors with a hydraulic fluid market share, detailed hydraulic fluid market segments, market trends and opportunities, and any further data you may need to thrive in the hydraulic fluid industry. This hydraulic fluid market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The hydraulic fluid market size has grown strongly in recent years. It will grow from $8.16 billion in 2023 to $8.62 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. Historical growth can be linked to factors such as global population increase, higher demand for environmentally friendly hydraulic fluids, industrialization growth, greater need for precise automotive control and safety, and heightened emphasis on reducing component wear.
The hydraulic fluid market size is expected to see strong growth in the next few years. It will grow to $10.8 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%.Projected growth is expected due to increased crude oil production, expanding automobile sales and manufacturing, regulatory measures, rising awareness of bio-based oils, and increasing demand for precision and automation in construction. Key trends in the forecast period include advancements in equipment cost-efficiency, investments in research and development, technological progress, industrial automation and digitization, IoT integration, and data-driven maintenance.
The growth of the hydraulic fluid market is anticipated to be driven by the increasing industrialization. This term refers to the process of economic and social transformation characterized by widespread adoption of industrial methods of production and organization. Advancements in technology, automation, and global demand for manufactured goods are fueling industrialization, resulting in enhanced productivity and economic growth across various regions. Hydraulic fluid plays a crucial role in industrialization by powering machinery and equipment through force transmission and lubrication, ensuring efficient and reliable operation in diverse applications. For example, according to Eurostat, a Luxembourg-based government statistical agency, industrial production in the European area rose by 0.2% in July 2023 compared to April 2023, indicating the impact of increasing industrialization on the hydraulic fluid market.
Leading companies in the hydraulic fluid market are focusing on developing innovative products, such as heavy-duty machine hydraulic oils, to improve performance, extend equipment lifespan, and meet the rigorous demands of modern industrial applications. These specialized lubricants are designed to withstand extreme pressures and temperatures, facilitating efficient power transfer, minimizing wear, and safeguarding hydraulic system components in heavy machinery. Volvo Construction Equipment, a Sweden-based machine industry company, introduced the HO103 hydraulic oil in May 2022, engineered to enhance performance and durability. This development allows for a 50% increase in service intervals for heavy-duty machines such as crawler excavators, enhancing efficiency, productivity, and reducing maintenance costs and downtime.
In December 2023, Bosch Rexroth AG, a Germany-based engineering company, collaborated with TotalEnergies SE to develop sustainable alternatives to traditional mineral oil-based hydraulic fluids. This partnership focuses on creating biodegradable, fire-resistant water-based hydraulic fluids that offer environmental benefits while delivering performance similar to conventional fluids. TotalEnergies SE, a France-based energy and petroleum company, is a provider of hydraulic fluid participating in this initiative.
Major companies operating in the hydraulic fluid market are Sinopec Corporation, Exxon Mobil Corporation, Shell Plc, TotalEnergies SE, BP Plc, Chevron Corporation, The Phillips 66 Company, ENI S.p.A., Reliance Industries Limited, Repsol S.A., BASF SE, Idemitsu Kosan Co. Ltd., SK Lubricants Co. Ltd., Dow Inc., Lukoil Oil Co., Caltex Australia Limited, Croda International Plc, FUCHS SE, Ashland Global Holdings Inc., Castrol Limited, Quaker Chemical Corp., Valvoline Inc., Gulf Oil Corporation Limited, Gazpromneft Lubricants Ltd.
Asia-Pacific was the largest region in the hydraulic fluid market in 2023. The regions covered in the hydraulic fluid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the hydraulic fluid market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The hydraulic fluid market consists of sales of fire-resistant fluids, antiwear fluids, and high-performance fluids. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Hydraulic Fluid Market Characteristics3. Hydraulic Fluid Market Trends And Strategies32. Global Hydraulic Fluid Market Competitive Benchmarking33. Global Hydraulic Fluid Market Competitive Dashboard34. Key Mergers And Acquisitions In The Hydraulic Fluid Market
4. Hydraulic Fluid Market - Macro Economic Scenario
5. Global Hydraulic Fluid Market Size and Growth
6. Hydraulic Fluid Market Segmentation
7. Hydraulic Fluid Market Regional And Country Analysis
8. Asia-Pacific Hydraulic Fluid Market
9. China Hydraulic Fluid Market
10. India Hydraulic Fluid Market
11. Japan Hydraulic Fluid Market
12. Australia Hydraulic Fluid Market
13. Indonesia Hydraulic Fluid Market
14. South Korea Hydraulic Fluid Market
15. Western Europe Hydraulic Fluid Market
16. UK Hydraulic Fluid Market
17. Germany Hydraulic Fluid Market
18. France Hydraulic Fluid Market
19. Italy Hydraulic Fluid Market
20. Spain Hydraulic Fluid Market
21. Eastern Europe Hydraulic Fluid Market
22. Russia Hydraulic Fluid Market
23. North America Hydraulic Fluid Market
24. USA Hydraulic Fluid Market
25. Canada Hydraulic Fluid Market
26. South America Hydraulic Fluid Market
27. Brazil Hydraulic Fluid Market
28. Middle East Hydraulic Fluid Market
29. Africa Hydraulic Fluid Market
30. Hydraulic Fluid Market Competitive Landscape And Company Profiles
31. Hydraulic Fluid Market Other Major And Innovative Companies
35. Hydraulic Fluid Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Hydraulic Fluid Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on hydraulic fluid market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase:
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- Assess the Russia - Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
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- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for hydraulic fluid ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The hydraulic fluid market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Type: Mineral Oil; Synthetic Oil; Bio-Based Oil2) By Distribution Channel: Original Equipment Manufacturer (OEM); Aftermarket
3) By End-Use: Oil And Gas; Marine; Automotive; Aerospace And Defense; Construction; Other End Uses
Key Companies Mentioned: Sinopec Corporation; Exxon Mobil Corporation; Shell Plc; TotalEnergies SE; BP Plc
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- Sinopec Corporation
- Exxon Mobil Corporation
- Shell Plc
- TotalEnergies SE
- BP Plc
- Chevron Corporation
- The Phillips 66 Company
- ENI S.p.A.
- Reliance Industries Limited
- Repsol S.A.
- BASF SE
- Idemitsu Kosan Co. Ltd.
- SK Lubricants Co. Ltd.
- Dow Inc.
- Lukoil Oil Co.
- Caltex Australia Limited
- Croda International Plc
- FUCHS SE
- Ashland Global Holdings Inc.
- Castrol Limited
- Quaker Chemical Corp.
- Valvoline Inc.
- Gulf Oil Corporation Limited
- Gazpromneft Lubricants Ltd.
Methodology
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