Hydraulic Fluids Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Hydraulic Fluids Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028


The global hydraulic fluids market size reached US$ 9.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 13.7 Billion by 2028, exhibiting a growth rate (CAGR) of 6.52% during 2023-2028.

Hydraulic fluids refer to different forms of lubricants that act as mediums for transmitting power into hydraulic machinery components. Comprising of water and mineral oil, they are commonly available in bio-based, fire-resistant, and petroleum-based variants. Hydraulic fluids uses the force of non-compressing fluids present in different parts of the vehicle for heat transfer, lubrication, contamination removal, sealing and contamination control purposes. They are also widely incorporated in aircraft flight control systems, hydraulic brakes, excavators, power steering systems, garbage trucks, industrial machinery equipment and lifts. As compared to conventional turbine oil, hydraulic fluids exhibit improved stability at high temperature, higher filterability, thermal and oxidation stability, enhanced viscosity and compressibility, and better foam, wear and corrosion resistance

Hydraulic Fluids Market Trends:
The substantial growth in the automotive industry across the globe is creating a positive outlook for the market growth. Hydraulic fluids are widely used in different areas of the vehicle, including power steering systems, engine oil, gear oil, brakes, and clutches to create force, protect against erosion by chemical reaction, and reduce friction between components, thus assisting in enhancing the overall life cycle of the automobile. In line with this, hydraulic fluids are highly compatible with advanced automotive parts, which, in turn, helps in lowering vehicle emissions. Apart from this, various product innovations, such as the introduction of biodegradable hydraulic fluids that are ecologically responsive, non-toxic and environmentally friendly are providing an impetus to the market growth. Furthermore, the increasing product demand in heavy equipment, such as backhoes, diggers, truck loaders and bulldozers for civil engineering and construction projects, are positively impacting the market growth. Other factors, including rising industrialization, especially in developing regions, and the implementation of various government initiatives to promote the use of bio-based hydraulic fluids, are anticipated to drive the market toward growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global hydraulic fluids market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on base oil, point of sale and end user.

Breakup by Base Oil:

Synthetic Oil
Mineral Oil
Bio-based Oil

Breakup by Point of Sale:

Original Equipment Manufacturer (OEM)
Aftermarket

Breakup by End User:

Oil and Gas
Marine
Automotive
Aerospace and Defense
Construction
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being BASF SE, bp p.l.c., Chevron Corporation, China National Petroleum Corporation, China Petroleum & Chemical Corporation, Croda International Plc, Dow Inc., Eastman Chemical Company, Exxon Mobil Corporation, Fuchs Petrolub SE, Idemitsu Kosan Co. Ltd., Lukoil, Phillips 66 Company, Royal Dutch Shell plc and TotalEnergies SE.

Key Questions Answered in This Report:
How has the global hydraulic fluids market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global hydraulic fluids market?
What are the key regional markets?
What is the breakup of the market based on the base oil?
What is the breakup of the market based on the point of sale?
What is the breakup of the market based on the end user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global hydraulic fluids market and who are the key players?
What is the degree of competition in the industry?


1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Hydraulic Fluids Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Base Oil
6.1 Synthetic Oil
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Mineral Oil
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Bio-based Oil
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Point of Sale
7.1 Original Equipment Manufacturer (OEM)
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Aftermarket
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by End User
8.1 Oil and Gas
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Marine
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Automotive
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Aerospace and Defense
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Construction
8.5.1 Market Trends
8.5.2 Market Forecast
8.6 Others
8.6.1 Market Trends
8.6.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
 9.1.1.1 Market Trends
 9.1.1.2 Market Forecast
9.1.2 Canada
 9.1.2.1 Market Trends
 9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
 9.2.1.1 Market Trends
 9.2.1.2 Market Forecast
9.2.2 Japan
 9.2.2.1 Market Trends
 9.2.2.2 Market Forecast
9.2.3 India
 9.2.3.1 Market Trends
 9.2.3.2 Market Forecast
9.2.4 South Korea
 9.2.4.1 Market Trends
 9.2.4.2 Market Forecast
9.2.5 Australia
 9.2.5.1 Market Trends
 9.2.5.2 Market Forecast
9.2.6 Indonesia
 9.2.6.1 Market Trends
 9.2.6.2 Market Forecast
9.2.7 Others
 9.2.7.1 Market Trends
 9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
 9.3.1.1 Market Trends
 9.3.1.2 Market Forecast
9.3.2 France
 9.3.2.1 Market Trends
 9.3.2.2 Market Forecast
9.3.3 United Kingdom
 9.3.3.1 Market Trends
 9.3.3.2 Market Forecast
9.3.4 Italy
 9.3.4.1 Market Trends
 9.3.4.2 Market Forecast
9.3.5 Spain
 9.3.5.1 Market Trends
 9.3.5.2 Market Forecast
9.3.6 Russia
 9.3.6.1 Market Trends
 9.3.6.2 Market Forecast
9.3.7 Others
 9.3.7.1 Market Trends
 9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
 9.4.1.1 Market Trends
 9.4.1.2 Market Forecast
9.4.2 Mexico
 9.4.2.1 Market Trends
 9.4.2.2 Market Forecast
9.4.3 Others
 9.4.3.1 Market Trends
 9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10  SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11  Value Chain Analysis
12  Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13  Price Analysis
14  Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 BASF SE
 14.3.1.1 Company Overview
 14.3.1.2 Product Portfolio
 14.3.1.3 Financials
 14.3.1.4 SWOT Analysis
14.3.2 bp p.l.c.
 14.3.2.1 Company Overview
 14.3.2.2 Product Portfolio
 14.3.2.3 Financials
 14.3.2.4 SWOT Analysis
14.3.3 Chevron Corporation
 14.3.3.1 Company Overview
 14.3.3.2 Product Portfolio
 14.3.3.3 Financials
 14.3.3.4 SWOT Analysis
14.3.4 China National Petroleum Corporation
 14.3.4.1 Company Overview
 14.3.4.2 Product Portfolio
 14.3.4.3 SWOT Analysis
14.3.5 China Petroleum & Chemical Corporation
 14.3.5.1 Company Overview
 14.3.5.2 Product Portfolio
 14.3.5.3 Financials
 14.3.5.4 SWOT Analysis
14.3.6 Croda International Plc
 14.3.6.1 Company Overview
 14.3.6.2 Product Portfolio
 14.3.6.3 Financials
 14.3.6.4 SWOT Analysis
14.3.7 Dow Inc.
 14.3.7.1 Company Overview
 14.3.7.2 Product Portfolio
 14.3.7.3 Financials
 14.3.7.4 SWOT Analysis
14.3.8 Eastman Chemical Company
 14.3.8.1 Company Overview
 14.3.8.2 Product Portfolio
 14.3.8.3 Financials
 14.3.8.4 SWOT Analysis
14.3.9 Exxon Mobil Corporation
 14.3.9.1 Company Overview
 14.3.9.2 Product Portfolio
 14.3.9.3 Financials
 14.3.9.4 SWOT Analysis
14.3.10 Fuchs Petrolub SE
 14.3.10.1 Company Overview
 14.3.10.2 Product Portfolio
 14.3.10.3 Financials
 14.3.10.4 SWOT Analysis
14.3.11 Idemitsu Kosan Co. Ltd.
 14.3.11.1 Company Overview
 14.3.11.2 Product Portfolio
 14.3.11.3 Financials
 14.3.11.4 SWOT Analysis
14.3.12 Lukoil
 14.3.12.1 Company Overview
 14.3.12.2 Product Portfolio
 14.3.12.3 Financials
 14.3.12.4 SWOT Analysis
14.3.13 Phillips 66 Company
 14.3.13.1 Company Overview
 14.3.13.2 Product Portfolio
 14.3.13.3 Financials
 14.3.13.4 SWOT Analysis
14.3.14 Royal Dutch Shell plc
 14.3.14.1 Company Overview
 14.3.14.2 Product Portfolio
 14.3.14.3 Financials
14.3.15 TotalEnergies SE
 14.3.15.1 Company Overview
 14.3.15.2 Product Portfolio
 14.3.15.3 Financials
 14.3.15.4 SWOT Analysis

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