Hydraulic Fluids Market is gaining immense popularity owing to its superior properties such as long life, good performance and better stability at high temperature as compared to ordinary turbine oil. Hydraulic fluid is being widely used in a wide range of applications across various industries including chemical manufacturing, oil and gas, and automotive, among others.
Global Hydraulic Fluids Market was valued at USD 8.07 billion in 2021 and is expected to reach USD 10.59 billion by 2029, registering a CAGR of 3.45% during the forecast period of 2022-2029. Synthetic Oil is expected to witness high growth in the base oil segment of the market owing to the easy availability and low cost. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Market Definition
Hydraulic fluids are an energy transfer medium which is mainly used in all hydraulic systems. Some of the common types of the hydraulic fluids include petroleum-based hydraulic fluid, bio-based hydraulic fluid and fire-resistant type.
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Some of the major players operating in the hydraulic fluids market are
Shell plc (UK)
Exxon Mobil Corporation (US)
BP (UK)
Chevron Corporation. (US)
Total (France)
LUKOIL Marine Lubricants DMCC (UAE)
Idemitsu Kosan Co.,Ltd. (Japan)
Indian Oil Corporation Ltd (India)
Sinopec (China)
Phillips 66 Company. (US)
Calumet Specialty Products Partners, L.P., LLC (US)
Morris Lubricants (UK)
Penrite Oil (Australia)
Carl Bechem Lubricants India (India)
Valvoline LLC. (US)
PEAK (UK)
Rock Valley Oil & Chemical Co (US)
LIQUI MOLY GmbH (Germany)
ADDINOL. (Germany)
Amalie Oil Company (US)
Global Hydraulic Fluids Market Scope and Market Size
The Hydraulic Fluids fluids market is segmented on the basis of base oil, application, type, and connector type. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Base Oil
Mineral Oil
Synthetic Oil
Semi- Synthetic Oil
Bio- Based Oil
Application
OEM
Equipment
Construction Equipment
Transportation
Oil and Gas
Metal Production
Food and Beverage
Others
Type
Petroleum-Based Hydraulic Fluid
Bio-Based Hydraulic Fluid
Fire-Resistant Type
Connector Type
Mobile Hydraulic Fluid Connectors
Stationary Hydraulic Fluid Connectors
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Hydraulic Fluids Market Regional Analysis/Insights
The hydraulic fluids market is analyzed and market size insights and trends are provided by country, base oil, application, type, and connector type as referenced above.
The countries covered in the hydraulic fluids market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific (APAC) dominates the hydraulic fluids market because of the industrialization and growing demand for the hydraulic fluids within the region.
North America is expected to witness significant growth during the forecast period of 2022 to 2029 because of the surge in investments in the region.
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