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

June 2023 | 145 pages | ID: H0F6717D2B8EEN
IMARC Group

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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

LIST OF TABLES

Table 1: Global: Hydraulic Fluids Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Hydraulic Fluids Market Forecast: Breakup by Base Oil (in Million US$), 2023-2028
Table 3: Global: Hydraulic Fluids Market Forecast: Breakup by Point of Sale (in Million US$), 2023-2028
Table 4: Global: Hydraulic Fluids Market Forecast: Breakup by End User (in Million US$), 2023-2028
Table 5: Global: Hydraulic Fluids Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Global: Hydraulic Fluids Market: Competitive Structure
Table 7: Global: Hydraulic Fluids Market: Key Players


LIST OF FIGURES

Figure 1: Global: Hydraulic Fluids Market: Major Drivers and Challenges
Figure 2: Global: Hydraulic Fluids Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Hydraulic Fluids Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Hydraulic Fluids Market: Breakup by Base Oil (in %), 2022
Figure 5: Global: Hydraulic Fluids Market: Breakup by Point of Sale (in %), 2022
Figure 6: Global: Hydraulic Fluids Market: Breakup by End User (in %), 2022
Figure 7: Global: Hydraulic Fluids Market: Breakup by Region (in %), 2022
Figure 8: Global: Hydraulic Fluids (Synthetic Oil) Market: Sales Value (in Million US$), 2017 & 2022
Figure 9: Global: Hydraulic Fluids (Synthetic Oil) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 10: Global: Hydraulic Fluids (Mineral Oil) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Hydraulic Fluids (Mineral Oil) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Hydraulic Fluids (Bio-based Oil) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Hydraulic Fluids (Bio-based Oil) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Hydraulic Fluids (Original Equipment Manufacturer-OEM) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Hydraulic Fluids (Original Equipment Manufacturer-OEM) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Hydraulic Fluids (Aftermarket) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Hydraulic Fluids (Aftermarket) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Hydraulic Fluids (Oil and Gas) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Hydraulic Fluids (Oil and Gas) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Hydraulic Fluids (Marine) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Hydraulic Fluids (Marine) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: Hydraulic Fluids (Automotive) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: Hydraulic Fluids (Automotive) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Global: Hydraulic Fluids (Aerospace and Defense) Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: Global: Hydraulic Fluids (Aerospace and Defense) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: Global: Hydraulic Fluids (Construction) Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: Global: Hydraulic Fluids (Construction) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: Global: Hydraulic Fluids (Other End Users) Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: Global: Hydraulic Fluids (Other End Users) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: North America: Hydraulic Fluids Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: North America: Hydraulic Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: United States: Hydraulic Fluids Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: United States: Hydraulic Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: Canada: Hydraulic Fluids Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: Canada: Hydraulic Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: Asia-Pacific: Hydraulic Fluids Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: Asia-Pacific: Hydraulic Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: China: Hydraulic Fluids Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: China: Hydraulic Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: Japan: Hydraulic Fluids Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: Japan: Hydraulic Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: India: Hydraulic Fluids Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: India: Hydraulic Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: South Korea: Hydraulic Fluids Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: South Korea: Hydraulic Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: Australia: Hydraulic Fluids Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: Australia: Hydraulic Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: Indonesia: Hydraulic Fluids Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: Indonesia: Hydraulic Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: Others: Hydraulic Fluids Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: Others: Hydraulic Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: Europe: Hydraulic Fluids Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: Europe: Hydraulic Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: Germany: Hydraulic Fluids Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: Germany: Hydraulic Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: France: Hydraulic Fluids Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: France: Hydraulic Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: United Kingdom: Hydraulic Fluids Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: United Kingdom: Hydraulic Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: Italy: Hydraulic Fluids Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: Italy: Hydraulic Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: Spain: Hydraulic Fluids Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: Spain: Hydraulic Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: Russia: Hydraulic Fluids Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: Russia: Hydraulic Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: Others: Hydraulic Fluids Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: Others: Hydraulic Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 68: Latin America: Hydraulic Fluids Market: Sales Value (in Million US$), 2017 & 2022
Figure 69: Latin America: Hydraulic Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 70: Brazil: Hydraulic Fluids Market: Sales Value (in Million US$), 2017 & 2022
Figure 71: Brazil: Hydraulic Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 72: Mexico: Hydraulic Fluids Market: Sales Value (in Million US$), 2017 & 2022
Figure 73: Mexico: Hydraulic Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 74: Others: Hydraulic Fluids Market: Sales Value (in Million US$), 2017 & 2022
Figure 75: Others: Hydraulic Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 76: Middle East and Africa: Hydraulic Fluids Market: Sales Value (in Million US$), 2017 & 2022
Figure 77: Middle East and Africa: Hydraulic Fluids Market: Breakup by Country (in %), 2022
Figure 78: Middle East and Africa: Hydraulic Fluids Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 79: Global: Hydraulic Fluids Industry: SWOT Analysis
Figure 80: Global: Hydraulic Fluids Industry: Value Chain Analysis
Figure 81: Global: Hydraulic Fluids Industry: Porter's Five Forces Analysis


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