Market Snapshot:
Hydraulic fluid are mineral oil or water that transfers the power in the hydraulic machinery. These are used in excavators, backhoes, power steering, transmissions, aircraft flight control systems, lift and other machineries. This fluid protects the parts as they rub against each other and create volume flow between pump and hydrostatic motor. Additionally, it protects the system from corrosion and transfer the heat. Hydraulic fluids has low viscosity and it changes with the temperature. The increasing automobile and production of industrial machinery is affecting the market positively.
Highlights from Hydraulic Fluid Market Study
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 6.8% |
The key Manufacturers profiled in the report are Shell (Netherlands), Exxonmobil (United States), BP (United Kingdom), Chevron (United States), Total (France), Petrochina (China), Lukoil (Russia), Idemitsu Kosan (Japan), Sinopec (China) and Indian Oil (India). Additionally, other players that are part of this comprehensive study are Phillips 66 Company (United States), Bel-Ray Company (United States), Morris Lubricants (United Kingdom), Penrite Oil (Australia), Bechem Lubrication Technology (China), Valvoline (United States) and Peak Lubricants (Australia).
Geographic Breakdown and Segment Analysis
The Global Hydraulic Fluid market presents a comprehensive analysis of the Hydraulic Fluid market by product type (Mineral-Oil based Hydraulic fluids, Fire Resistant Fluids and Environmental Acceptable Hydraulic Fluids), by end-user/application (OEM (Original Equipment Manufacturer), Mining Equipment, Construction Equipment, Transportation, Marine, Aviation, Automotive, Oil & Gas and Others), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Hydraulic Fluid industry. Investors and Manufacturers can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Hydraulic Fluid market
Analyst at AMA have segmented the market study of Global Hydraulic Fluid market by Type, Application and Region.
Influencing Trend:
Adoption of Bio Based Hydraulic Fluids and High Investments in Research and Developments
Market Growth Drivers:
Rising Demand of Hydraulic Fluids in Automotive Industry and Growing Industrialization in Developing Countries
Challenges:
Fluctuating Oil Prices May Hamper the Growth of the Market and Dependent on the Oil Industry
Restraints:
Stringent Government Regulations Due to the Presence of High Toxicity
Opportunities:
Easy Availability of the Mineral Oil
Market Developments Activities:
In June 2023,ERIKS North America, the distributor of fluid and material conveyance solutions has recently acquired DeeTag, Ltd. (DeeTag), the distributor of hydraulic and industrial hose assemblies. DeeTag has 40 years of experience in the industry and has 3 facilities including two in southern Ontario, Canada, and one in Conover, North Carolina
In February 2024, Castrol has launched TransaquaTM SP-HC, a new hydraulic control fluid under its Transaqua range. The fluid has been formulated for use as the control fluid in subsea production control systems, delivering all-round subsea production system protection.
Key Target Audience
Manufacturers, Raw Material Suppliers, Distributors and Traders, Research Organisations, Government Agencies and Organisations