The global hydraulic fluid market size reached USD 7.96 Billion in 2021 and is expected to register a revenue CAGR of 2.8% during the forecast period, according to latest analysis by Emergen Research. Increasing demand for fire-resistant hydraulic fluids, rapid expansion of manufacturing facilities and need for automation for heavy lifting of loads, and development and deployment of more advanced machinery and equipment across various industries and sectors are some key factors driving market revenue growth. In factories, hydraulics plays a critical role in operation of machinery, equipment, assembly lines, and others. Mineral oil-based hydraulic fluids are mostly used in various industries due to low cost and high performance.
The Global Hydraulic Fluid Market report contains historical, current, and forecast estimation of the revenue generation and profits for each segment and sub-segment of the Hydraulic Fluid Market in each key region of the world. The report additionally sheds light on the emerging growth opportunities in the business sphere that are anticipated to bolster the growth of the market.
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The latest report is the most recent study that offers 360° coverage of the Hydraulic Fluid industry that has been facing the brunt of the adverse economic impact of the COVID-19 outbreak since the beginning of this year. The global health crisis has affected nearly every aspect of the business vertical and led to massive disruptions to the global Hydraulic Fluid market demand and supply chains. Researchers draw predictions for the market scenario in the post-COVID era. The report, additionally, assesses the present market situation and estimates its future outcomes, keeping in mind the impact of the pandemic on the global economic landscape.
Some Key Highlights From the Report
- Original Equipment Manufacturers (OEMs) segment accounted for significantly large revenue share in 2021. Increasing demand for high-efficiency hydraulic fluid products is a major factor driving revenue growth of this segment. In addition, adhering to OEMs specification enables hydraulic fluid companies to develop products that aid in achieving better efficiency and reduce equipment and component downtime. Also, companies are investing in developing hydraulic fluid products that adhere to standards mentioned by OEMs and provide support by specifying guidelines on how to flush existing hydraulic fluid and replace this with their products as per mentioned.
- Bio-based oil segment accounted for significantly robust revenue share in 2021. Increasing consumer awareness regarding various benefits of utilizing biodegradable hydraulic fluids is a key factor driving revenue growth of this segment. Hydraulic oil is an essential components for manufacturing and other industrial operations. However, leakage of hydraulic oils or fluids, mainly caused due to high pressure of fluids and through accidents, can have impact on the immediate environment. Therefore, end-use industries are significantly shifting towards bio-based oils due to enhanced capability in improving equipment performance and minimizing environmental. In addition, given decreasing energy resources and stringent government policies to reduce Carbon Dioxide (CO2) emissions, there is a strong interest in reducing use of fossil fuel-based products in industrial machines. Moreover, bio-based oils offer great potential due to thermal and lubricating properties.
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Segmental Analysis
The global Hydraulic Fluid market is broadly segmented on the basis of different product types, application range, end-use industries, key regions, and an intensely competitive landscape. This section of the report is solely targeted at readers looking to select the most appropriate and lucrative segments of the Hydraulic Fluid sector in a strategic manner. The segmental analysis also helps companies interested in this sector make optimal business decisions and achieve their desired goals.
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Emergen Research has segmented the global hydraulic fluid market on the basis of distribution channel, base oil, end-use, and region:
- Distribution Channel Outlook (Revenue, USD Billion; 2019-2030)
- OEMs
- Aftermarket
- Base Oil Outlook (Revenue, USD Billion; 2019-2030)
- Mineral Oil
- Synthetic Oil
- Bio-Based Oil
- End-Use Outlook (Revenue, USD Billion; 2019-2030)
- Construction
- Metal & Mining
- Agriculture
- Oil & Gas
- Automotive
- Others
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Regional Outlook (Revenue, USD Billion; 2019-2030)
This section of the report offers valuable insights into the geographical segmentation of the Hydraulic Fluid market, alongside estimating the current and future market valuations based on the demand-supply dynamics and pricing structure of the leading regional segments. Furthermore, the growth prospects of each segment and sub-segment have been meticulously described in the report.
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- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of MEA
- North America
Competitive Terrain:
The Global Hydraulic Fluid Market is highly consolidated due to the presence of a large number of companies across this industry. The report discusses the current market standing of these companies, their past performances, demand and supply graph, production and consumption patterns, sales network, distribution channels, and growth opportunities in the market at length. The report scrutinizes the strategic approach of key market players towards expanding their product offerings and fortifying their market foothold.
The leading market contenders listed in the report are as follows:
Exxon Mobil Corporation, Shell, Chevron Corporation, PetroChina Company Limited, TotalEnergies, Idemitsu Kosan Co., Ltd., China Petrochemical Corporation, FUCHS Group, Valvoline Inc., Petroliam Nasional Berhad (PETRONAS), LUKOIL, and Petrobras.
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Report Highlights:
- The report conducts a comparative assessment of the leading market players participating in the global Hydraulic Fluid market.
- The report marks the notable developments that have recently taken place in the Hydraulic Fluid industry
- It details on the strategic initiatives undertaken by the market competitors for business expansion.
- It closely examines the micro- and macro-economic growth indicators, as well as the essential elements of the Hydraulic Fluid market value chain.
- The repot further jots down the major growth prospects for the emerging market players in the leading regions of the market.
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Key questions addressed in the report:
- Who are the leading players dominating the global Hydraulic Fluid Market?
- Which factors could potentially hamper the global market growth during the forecast period?
- Which regional market offers the most attractive growth opportunities to the companies operating in this market?
- How is the raw material availability affecting the demand for Hydraulic Fluid in this industry vertical?
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