Market Overview:
The global hydraulic fluid market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for hydraulic fluids in various applications, such as mining equipment, construction equipment, transportation, oil & gas, metal production and food & beverage. In addition, the growing awareness about the benefits of using synthetic and bio-based oils is also contributing to the growth of this market. However, volatility in crude oil prices may restrain the growth of this market during the forecast period. On basis on type: Mineral oil held majority share in global hydraulic fluid market by volume in 2017 and it is projected to maintain its dominance throughout forecast period due to its low cost as compared to other types of hydraulic fluids available in market . Synthetic oil accounted for second largest share by volume followed by semi-synthetic oil and bio-based oils respectively .
Product Definition:
A hydraulic fluid is a fluid used to transmit power in hydraulic machinery. The importance of hydraulic fluid is that it allows machines to use pressure to transfer energy, which can be used for a variety of purposes, including operating brakes and lifting heavy objects.
Mineral Oil:
Mineral oil is a colorless, tasteless hydrocarbon liquid that is widely used in the manufacturing of hydraulic fluids. It can be further refined to form several grades including paraffinic, naphthenic and aromatic mineral oils. The most commonly utilized type of mineral oil in the global market is paraffinic mineral oil which has a high viscosity index and low sulfur content.
Synthetic Oil:
Synthetic oil is a base stock for hydraulic fluid. It has properties such as high viscosity index, low volatility and color, and it provides good protection against oxidation. The major advantage of using synthetic oil in hydraulic systems is that it helps to reduce the overall operating cost by reducing the wear & tear of system which reduces maintenance costs too.
Application Insights:
The mining equipment segment accounted for the largest revenue share in 2017 and is projected to witness significant growth over the forecast period. The rising demand for hydraulic fluids from various sectors, including construction, agriculture and hydropower generation are expected to drive the market growth over the coming years.
Hydraulic fluid is used in a variety of mining equipment such as dragline excavators, front-end loaders, trucks and material carriers along with other machines engaged in coal or metal extraction activities. Furthermore, it is also widely utilized in open-pit & underground mines owing to its properties that enhance productivity by reducing downtime due to fluid leakageages among others.
Construction equipment was one of the prominent applications witnessing high consumption rates across all regions Hydraulic fluids are used across multiple industries such as road construction & maintenance; railway track maintenance; public works projects including water supply & drainage systems; airports etc.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to witness significant growth over the forecast period. The region comprises developing as well as developed countries such as China, India, South Korea, Japan and Australia. China is one of the largest mining nations globally owing to its large coal reserves which are used for domestic consumption mainly. Thus it has a direct impact on mining equipment production in this region due to low export rates of coal from this country.
India is also one of the prominent producers of mined products such as iron ore, manganese ore etc., due to which there has been an increase in demand for various types of mining equipment including haul trucks, loaders etc.
Growth Factors:
- Increasing demand for hydraulic fluid from the automotive and transportation sector as a result of the growth in the automotive industry.
- Rising demand for hydraulic fluids from the construction and manufacturing sectors due to growth in these industries.
- Growing use of hydraulic fluids in applications such as metalworking, food processing, and textile production, among others.
- Increasing investments by companies in research and development activities to develop new products that can meet specific requirements of various end-use industries.
Scope Of The Report
Report Attributes
Report Details
Report Title
Hydraulic Fluid Market Research Report
By Type
Mineral Oil, Synthetic Oil, Semi-synthetic Oil, Bio-based Oil
By Application
Mining Equipment, Construction Equipment, Transportation, Oil & Gas, Metal Production, Food & Beverage, Others
By Companies
Shell, Exxonmobil, BP, Chevron, Total, Petrochina, Lukoil, Idemitsu Kosan, Sinopec, Indian Oil, Phillips 66 Company, Bel-Ray Company, Morris Lubricants, Penrite Oil, Bechem Lubrication Technology, Valvoline, Peak Lubricants
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
234
Number of Tables & Figures
164
Customization Available
Yes, the report can be customized as per your need.
Global Hydraulic Fluid Market Report Segments:
The global Hydraulic Fluid market is segmented on the basis of:
Types
Mineral Oil, Synthetic Oil, Semi-synthetic Oil, Bio-based Oil
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Mining Equipment, Construction Equipment, Transportation, Oil & Gas, Metal Production, Food & Beverage, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Shell
- Exxonmobil
- BP
- Chevron
- Total
- Petrochina
- Lukoil
- Idemitsu Kosan
- Sinopec
- Indian Oil
- Phillips 66 Company
- Bel-Ray Company
- Morris Lubricants
- Penrite Oil
- Bechem Lubrication Technology
- Valvoline
- Peak Lubricants
Highlights of The Hydraulic Fluid Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Mineral Oil
- Synthetic Oil
- Semi-synthetic Oil
- Bio-based Oil
- By Application:
- Mining Equipment
- Construction Equipment
- Transportation
- Oil & Gas
- Metal Production
- Food & Beverage
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Hydraulic Fluid Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Hydraulic fluid is a type of oil used in hydraulic systems. It is a liquid that is used to move objects or fluids using pressure.
Some of the major companies in the hydraulic fluid market are Shell, Exxonmobil, BP, Chevron, Total, Petrochina, Lukoil, Idemitsu Kosan, Sinopec, Indian Oil, Phillips 66 Company, Bel-Ray Company, Morris Lubricants, Penrite Oil, Bechem Lubrication Technology, Valvoline, Peak Lubricants.
The hydraulic fluid market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Hydraulic Fluid Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Hydraulic Fluid Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Hydraulic Fluid Market - Supply Chain
4.5. Global Hydraulic Fluid Market Forecast
4.5.1. Hydraulic Fluid Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Hydraulic Fluid Market Size (000 Units) and Y-o-Y Growth
4.5.3. Hydraulic Fluid Market Absolute $ Opportunity
5. Global Hydraulic Fluid Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Hydraulic Fluid Market Size and Volume Forecast by Type
5.3.1. Mineral Oil
5.3.2. Synthetic Oil
5.3.3. Semi-synthetic Oil
5.3.4. Bio-based Oil
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Hydraulic Fluid Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Hydraulic Fluid Market Size and Volume Forecast by Application
6.3.1. Mining Equipment
6.3.2. Construction Equipment
6.3.3. Transportation
6.3.4. Oil & Gas
6.3.5. Metal Production
6.3.6. Food & Beverage
6.3.7. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Hydraulic Fluid Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Hydraulic Fluid Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Hydraulic Fluid Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Hydraulic Fluid Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Hydraulic Fluid Demand Share Forecast, 2019-2026
9. North America Hydraulic Fluid Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Hydraulic Fluid Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Hydraulic Fluid Market Size and Volume Forecast by Application
9.4.1. Mining Equipment
9.4.2. Construction Equipment
9.4.3. Transportation
9.4.4. Oil & Gas
9.4.5. Metal Production
9.4.6. Food & Beverage
9.4.7. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Hydraulic Fluid Market Size and Volume Forecast by Type
9.7.1. Mineral Oil
9.7.2. Synthetic Oil
9.7.3. Semi-synthetic Oil
9.7.4. Bio-based Oil
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Hydraulic Fluid Demand Share Forecast, 2019-2026
10. Latin America Hydraulic Fluid Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Hydraulic Fluid Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Hydraulic Fluid Market Size and Volume Forecast by Application
10.4.1. Mining Equipment
10.4.2. Construction Equipment
10.4.3. Transportation
10.4.4. Oil & Gas
10.4.5. Metal Production
10.4.6. Food & Beverage
10.4.7. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Hydraulic Fluid Market Size and Volume Forecast by Type
10.7.1. Mineral Oil
10.7.2. Synthetic Oil
10.7.3. Semi-synthetic Oil
10.7.4. Bio-based Oil
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Hydraulic Fluid Demand Share Forecast, 2019-2026
11. Europe Hydraulic Fluid Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Hydraulic Fluid Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Hydraulic Fluid Market Size and Volume Forecast by Application
11.4.1. Mining Equipment
11.4.2. Construction Equipment
11.4.3. Transportation
11.4.4. Oil & Gas
11.4.5. Metal Production
11.4.6. Food & Beverage
11.4.7. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Hydraulic Fluid Market Size and Volume Forecast by Type
11.7.1. Mineral Oil
11.7.2. Synthetic Oil
11.7.3. Semi-synthetic Ol
11.7.4. Bio-based Oil
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Hydraulic Fluid Demand Share, 2019-2026
12. Asia Pacific Hydraulic Fluid Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Hydraulic Fluid Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Hydraulic Fluid Market Size and Volume Forecast by Application
12.4.1. Mining Equipment
12.4.2. Construction Equipment
12.4.3. Transportation
12.4.4. Oil & Gas
12.4.5. Metal Production
12.4.6. Food & Beverage
12.4.7. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Hydraulic Fluid Market Size and Volume Forecast by Type
12.7.1. Mineral Oil
12.7.2. Synthetic Oil
12.7.3. Semi-synthetic Oil
12.7.4. Bio-based Oil
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Hydraulic Fluid Demand Share, 2019-2026
13. Middle East & Africa Hydraulic Fluid Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Hydraulic Fluid Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Hydraulic Fluid Market Size and Volume Forecast by Application
13.4.1. Mining Equipment
13.4.2. Construction Equipment
13.4.3. Transportation
13.4.4. Oil & Gas
13.4.5. Metal Production
13.4.6. Food & Beverage
13.4.7. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Hydraulic Fluid Market Size and Volume Forecast by Type
13.7.1. Mineral Oil
13.7.2. Synthetic Oil
13.7.3. Semi-synthetic Oil
13.7.4. Bio-based Oil
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Hydraulic Fluid Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Hydraulic Fluid Market: Market Share Analysis
14.2. Hydraulic Fluid Distributors and Customers
14.3. Hydraulic Fluid Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Shell
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Exxonmobil
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. BP
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Chevron
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Total
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Petrochina
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Lukoil
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Idemitsu Kosan
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Sinopec
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Indian Oil
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Phillips 66 Company
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Bel-Ray Company
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Morris Lubricants
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Penrite Oil
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Bechem Lubrication Technology
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Valvoline
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. Peak Lubricants
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook