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Global Hydraulic Fluids Market: By Base Oil: Mineral Oil, Synthetic Oil, Bio-Based Oil; By End Use: Oil and Gas, Marine, Automotive, Aerospace and Defence, Construction, Others; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments
Global Hydraulic Fluids Market Outlook
The global hydraulic fluids market attained a value of more than USD 7.60 billion in 2021. The market is further expected to grow in the forecast period of 2023-2028 at a CAGR of 6.4% to reach above USD 11.20 billion by 2027.
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The Asia Pacific Accounts for a Significant Share of the Market for Hydraulic Fluids
The Asia Pacific accounts for a considerable share of the hydraulic fluid industry due to rapid industrialisation in developing economies like India and China. The increasing construction activities owing to the rising requirement to accommodate the growing population in the region is driving the market for hydraulic fluids. With the growing utilisation of hydraulic machines for the precision and optimisation of construction processes, the demand for hydraulic fuels is increasing, hence driving the market growth.
Moreover, the increasing manufacturing of automobiles in countries like China and India, among others, is leading to a surge in the demand for hydraulic fluids, which is significantly contributing to the growth of the market. As hydraulic fluids can effectively handle high pressures, they are increasingly preferred in heavy duty applications in the region, which is providing further impetus to the growth of the hydraulic fluids industry.
Hydraulic Fluids: Market Segmentation
Hydraulic fluids, also known as hydraulic liquid, are medium that transfers power into hydraulic machinery components. They are also used for secondary functions like heat transfer, contamination removal, sealing, and lubrication. Excavators, garbage trucks, lifts, aircraft flight control systems, and industrial machines are some of the equipment that use hydraulic fluids. They find their applications in major industries like oil and gas, automotive, and aerospace, among others.
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The major base oils of hydraulic fluids are:
- Mineral Oil
- Synthetic Oil
- Bio-based Oil
The market can be broadly categorised on the basis of its end uses into:
- Oil and Gas
- Marine
- Automotive
- Aerospace and Defence
- Construction
- Others
The EMR report looks into the regional markets of hydraulic fluids like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Increasing Demand for Hydraulic Equipment in Various End Use Industries to Augment the Market for Hydraulic Fluids
The growing use of hydraulic equipment in various industries, such as construction and automotive, among others, are driving the growth of the hydraulic fluids industry. As hydraulic systems are designed to operate under high temperatures, high pressures, and various complex circumstances, they are extensively deployed in challenging applications, hence bolstering the market growth. The increasing use of hydraulic fluid to decrease the wear and tear of parts, protect the internal systems from corrosion, and external environments from erosion, is augmenting the growth of the market.
With the growing sustainability concerns, the use of hydraulic fluids for the functional safety of systems is fuelling the market growth. The development of innovative seals that are compatible with hydraulic fluids is projected to propel the market growth. Furthermore, advancements in fluid technology of hydraulic systems are expected to enhance the applications of hydraulic fluid, which is anticipated to fuel the market growth.
Key Industry Players in the Global Hydraulic Fluids Market
The report presents a detailed analysis of the following key players in the global hydraulic fluids market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- BASF SE
- Royal Dutch Shell plc.
- Exxon Mobil Corporation
- Chevron Corporation
- TotalEnergies SE
- Others
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Base Oil, End Use, Region |
| Breakup by Base Oil | Mineral Oil, Synthetic Oil, Bio-Based Oil |
| Breakup by End Use | Oil and Gas, Marine, Automotive, Aerospace and Defence, Construction, Others |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | BASF SE, Royal Dutch Shell Plc, Exxon Mobil Corporation, Chevron Corporation, TotalEnergies SE, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Hydraulic Fluids Market Analysis
8.1 Key Industry Highlights
8.2 Global Hydraulic Fluids Historical Market (2018-2022)
8.3 Global Hydraulic Fluids Market Forecast (2023-2028)
8.4 Global Hydraulic Fluids Market by Base Oil
8.4.1 Mineral Oil
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Synthetic Oil
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Bio-Based Oil
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.5 Global Hydraulic Fluids Market by End Use
8.5.1 Oil and Gas
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Marine
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Automotive
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Aerospace and Defence
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.5.5 Construction
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2022)
8.5.5.3 Forecast Trend (2023-2028)
8.5.6 Others
8.6 Global Hydraulic Fluids Market by Region
8.6.1 North America
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Europe
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Asia Pacific
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Latin America
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2022)
8.6.4.3 Forecast Trend (2023-2028)
8.6.5 Middle East and Africa
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2018-2022)
8.6.5.3 Forecast Trend (2023-2028)
9 North America Hydraulic Fluids Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Hydraulic Fluids Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Hydraulic Fluids Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Hydraulic Fluids Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Hydraulic Fluids Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 BASF SE
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Royal Dutch Shell Plc
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Exxon Mobil Corporation
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Chevron Corporation
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 TotalEnergies SE
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Hydraulic Fluids Market: Key Industry Highlights, 2018 and 2028
2. Global Hydraulic Fluids Historical Market: Breakup by Base Oil (USD Million), 2018-2022
3. Global Hydraulic Fluids Market Forecast: Breakup by Base Oil (USD Million), 2023-2028
4. Global Hydraulic Fluids Historical Market: Breakup by End Use (USD Million), 2018-2022
5. Global Hydraulic Fluids Market Forecast: Breakup by End Use (USD Million), 2023-2028
6. Global Hydraulic Fluids Historical Market: Breakup by Region (USD Million), 2018-2022
7. Global Hydraulic Fluids Market Forecast: Breakup by Region (USD Million), 2023-2028
8. North America Hydraulic Fluids Historical Market: Breakup by Country (USD Million), 2018-2022
9. North America Hydraulic Fluids Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Europe Hydraulic Fluids Historical Market: Breakup by Country (USD Million), 2018-2022
11. Europe Hydraulic Fluids Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Asia Pacific Hydraulic Fluids Historical Market: Breakup by Country (USD Million), 2018-2022
13. Asia Pacific Hydraulic Fluids Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Latin America Hydraulic Fluids Historical Market: Breakup by Country (USD Million), 2018-2022
15. Latin America Hydraulic Fluids Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Middle East and Africa Hydraulic Fluids Historical Market: Breakup by Country (USD Million), 2018-2022
17. Middle East and Africa Hydraulic Fluids Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Global Hydraulic Fluids Market Structure
Key Questions Answered in the Report
In 2021, the global hydraulic fluids market attained a value of more than USD 7.60 billion.
The market is projected to grow at a CAGR of 6.4% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach above USD 11.20 billion by 2027.
The market is being driven by the rising construction activities, rapid industrialisation, and the robust growth of the automotive industry.
The market growth in the forecast period can be attributed to the rising use of hydraulic equipment, the growing sustainability concerns, and advancements in fluid technology.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Mineral oil, synthetic oil, and bio-based oil are the major base oils of hydraulic fluids in the industry.
The significant end uses of hydraulic fluids are oil and gas, marine, automotive, aerospace and defence, and construction, among others.
The major players in the industry are Royal Dutch Shell plc., Exxon Mobil Corporation, BASF SE, Chevron Corporation, and TotalEnergies SE, among others.
Analyst Review
The global hydraulic fluids market attained a value of above USD 7.60 billion in 2021, driven by the rising use of hydraulic fluids in the automotive industry. Aided by the growing technological advancements, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 6.4%. The market is projected to reach more than USD 11.20 billion by 2027.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on base oil, the hydraulic fluids industry can be segmented into mineral oil, synthetic oil, and bio-based oil. On the basis of end uses, the market is categorised into oil and gas, marine, automotive, aerospace and defence, and construction, among others. The major regional markets for hydraulic fluids are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Royal Dutch Shell plc., Exxon Mobil Corporation, BASF SE, Chevron Corporation, and TotalEnergies SE, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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