Dublin, Sept. 14, 2022 (GLOBE NEWSWIRE) -- The "Global Hydraulic Fluids Market Size, Share & Trends Analysis Report by Base Oil (Mineral Oil, Synthetic Oil, Bio-based Oil), by End-use (Construction, Oil & Gas, Agriculture, Metal & Mining), by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The global hydraulic fluids market size is anticipated to reach USD 12.0 billion by 2030. The market is expected to expand at a CAGR of 5.2% from 2022 to 2030.
In recent years, industrialization has been on a rise, particularly in emerging economies such as India, China, Brazil, among others. The share of the manufacturing industry in the GDP is increasing significantly for these countries. Various policies by governments all over the world are being targeted toward the growth of industrial sectors.
The digital revolution, combined with artificial intelligence, has opened numerous new opportunities for fluid power. It will take time to turn into high-power electromechanical solutions. The industry must leverage the inherent capabilities of fluid power technology and expand its reach through technological advancements. In terms of energy efficiency, fluid power technology has huge potential.
The focus will soon shift to the development of high-speed switching valves, high-efficiency hydraulic fluids, and more efficient pumps and motors.In 2020, the market was severely affected by the global pandemic. Prices were dropped due to the lack of demand for lubricants and oils from end-user industries such as construction, automotive, marine, aerospace, among others.
In recent years, a huge fluctuation in the prices of base oil and hydraulic fluids has been experienced by the industries. In 2021, the prices of the market were skyrocketed owing to the sudden demand for the product after revival of the end-user industries. In 2022, the Russia-Ukraine war has resulted in the further increase of the base oil and hydraulic fluids prices.
Hydraulic Fluids Market Report Highlights
- The mineral oil segment led the market and accounted for 48.9% of the global revenue share in 2021. Mineral-based oils are the most often utilized hydraulic fluids. They are easily accessible and cost-effective. The only significant downside of petroleum-based hydraulic oils is that they are flammable. Mineral-based hydraulic oils are made from fractions of crude oil. They are also polished to the point where they have suitable lubricating properties
- The synthetic oil segment is expected to witness a CAGR of 5.9% over the forecast period in terms of revenue. Synthetic oil can combat varnish and sludge buildup, which are common in high-pressure, high-temperature industrial situations
- The aerospace and defense segment accounted for 8.9% of the global revenue share in 2021. The hydraulic system is a vital aspect of any aircraft. Consumer's increasing preference for air travel, and rising demand for cargo flights is expected to drive to hydraulic systems market. In addition, increasing usage of airplanes and helicopters in the defense and commercial sectors is driving the demand for aircraft hydraulic systems which in turn expected to increase the demand in the sector
- In June 2020, Gulf Western Oil (GWO) launched SUPERDRAULIC hydraulic fluid products. The high viscosity index products are suitable for harsh conditions and high-temperature applications. The company claimed to have 6,000+ oil hour life for the product
- In February 2022, South Korea's hydraulic brake fluid exports were USD 791 thousand, while imports totaled USD 618 thousand, creating a USD 173 thousand positive trade balance. Hydraulic brake fluid was predominantly exported to the U.S., India, China, Mexico, and Slovakia and mostly imported from Germany, U.S., Switzerland, Singapore, and the Netherlands
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Hydraulic Fluids Market Variables, Trends, & Scope
3.1. Market Lineage Outlook
3.1.1. Global Lubricants Market
3.2. Market Segmentation & Scope
3.3. Penetration & Growth Prospect Mapping
3.4. Industry Value Chain Analysis
3.5. Price Trend Analysis
3.6. Regulatory Framework
3.7. Technology Overview
3.8. Hydraulic Fluids Market - Market Dynamics
3.8.1. Market Driver Analysis
3.8.2. Market Restraint Analysis
3.9. Business Environment Analysis: Hydraulic Fluids Market
3.9.1. Industry Analysis - Porter's
3.9.1.1. Supplier Power
3.9.1.2. Buyer Power
3.9.1.3. Substitution Threat
3.9.1.4. Threat from New Entrants
3.9.1.5. Competitive Rivalry
3.9.2. PESTEL Analysis
3.9.2.1. Political Landscape
3.9.2.2. Environmental Landscape
3.9.2.3. Social Landscape
3.9.2.4. Technology Landscape
3.9.2.5. Economic Landscape
3.9.2.6. Legal Landscape
3.10. Impact of Russia-Ukraine War on Hydraulic Fluids Market
Chapter 4. COVID-19 Impact Analysis
4.1. Impact of COVID-19 on Global Hydraulic Fluids Market
Chapter 5. Hydraulic Fluids Market: Base Oil Estimates & Trend Analysis
5.1. Hydraulic Fluids Market: Base Oil Movement Analysis, 2022 & 2030
5.2. Mineral Oil
5.2.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.3. Synthetic Oil
5.3.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
5.4. Bio-Base Oil
5.4.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
Chapter 6. Hydraulic Fluids Market: End-Use Estimates & Trend Analysis
6.1. Hydraulic Fluids Market: End-Use Movement Analysis, 2022& 2030
6.2. Construction
6.2.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.3. Metal & Mining
6.3.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.4. Oil & Gas
6.4.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.5. Agriculture
6.5.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.6. Automotive
6.6.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.7. Aerospace & Defense
6.7.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
6.8. Others
6.8.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
Chapter 7. Hydraulic Fluids Market: Regional Estimates & Trend Analysis
Chapter 8. Hydraulic Fluids Market: Competitive Analysis
8.1. Key Players, Recent Developments & Their Impact on the Industry
8.2. Major Deals & Strategic Alliance Analysis
8.3. Vendor Landscape
8.3.1. Raw End-use Suppliers
8.3.2. List of Manufacturers
8.3.3. End-user Industries
8.4. Public Companies
8.4.1. List of Key Companies and Their Geographical Presence
8.5. Private Companies
8.5.1. List of Key Emerging Companies and Their Geographical Presence
Chapter 9. Company Profiles
9.1. Shell plc
9.1.1. Company Overview
9.1.2. Financial Performance
9.1.3. End-use Benchmarking
9.1.4. Strategic Initiatives
9.2. Exxon Mobil Corporation
9.2.1. Company Overview
9.2.2. Financial Performance
9.2.3. End-use Benchmarking
9.2.4. Strategic Initiatives
9.3. Chevron Corporation
9.3.1. Company Overview
9.3.2. Financial Performance
9.3.3. End-use Benchmarking
9.4. BP p.l.c
9.4.1. Company Overview
9.4.2. Financial Performance
9.4.3. End-use Benchmarking
9.5. TotalEnergies
9.5.1. Company Overview
9.5.2. Financial Performance
9.5.3. End-use Benchmarking
9.6. PetroChina Company Limited
9.6.1. Company Overview
9.6.2. Financial Performance
9.6.3. End-use Benchmarking
9.7. China Petrochemical Corporation (SINOPEC)
9.7.1. Company Overview
9.7.2. Financial Performance
9.7.3. End-use Benchmarking
9.8. FUCHS
9.8.1. Company Overview
9.8.2. Financial Performance
9.8.3. End-use Benchmarking
9.8.4. Strategic Initiatives
9.9. Valvoline
9.9.1. Company Overview
9.9.2. Financial Performance
9.9.3. End-use Benchmarking
9.9.4. Strategic Initiatives
9.10. NYCO
9.10.1. Company Overview
9.10.2. Financial Performance
9.10.3. End-use Benchmarking
9.10.4. Strategic Initiatives
9.11. Idemitsu Kosan CO., Ltd
9.11.1. Company Overview
9.11.2. Financial Performance
9.11.3. End-use Benchmarking
9.11.4. Strategic Initiatives
9.12. Dow
9.12.1. Company Overview
9.12.2. Financial Performance
9.12.3. End-use Benchmarking
9.12.4. Strategic Initiatives
9.13. Eastman Chemical Company
9.13.1. Company Overview
9.13.2. Financial Performance
9.13.3. End-use Benchmarking
9.13.4. Strategic Initiatives
9.14. LUKOIL
9.14.1. Company Overview
9.14.2. Financial Performance
9.14.3. End-use Benchmarking
9.14.4. Strategic Initiatives
9.15. Gazpromneft-Lubricants Lt.
9.15.1. Company Overview
9.15.2. Financial Performance
9.15.3. End-use Benchmarking
9.15.4. Strategic Initiatives
For more information about this report visit https://www.researchandmarkets.com/r/f8ht9d
