Feb 28, 2018   SOURCE: PR NewsWire

Hydraulic Fluid Market - Global Forecast to 2022

DUBLIN, Feb. 28, 2018 /PRNewswire/ --

The "Hydraulic Fluid Market by Base Oil (Mineral Oil, Synthetic Oil, Semi-Synthetic Oil, Bio-Based Oil), Application (OEM, Mining Equipment, Construction Equipment, Transportation, Oil & Gas, Metal Production, Food & Beverage) - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.

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The hydraulic fluid market is expected to grow from USD 19.42 Billion in 2017 to USD 22.07 Billion by 2022, at a CAGR of 2.59% between 2017 and 2022.

Industrial growth in the APAC and the Middle East & Africa regions, coupled with the improved quality of hydraulic fluids are the key factors that are expected to drive the hydraulic fluid market during the forecast period.

On the basis of base oil, the hydraulic fluid market has been segmented into mineral oil, synthetic oil (PAO, PAG, Esters, and Group IV), semi-synthetic oil, and bio-based oil. The mineral oil segment is projected to lead the hydraulic fluid market during the forecast period due to its easy availability and low cost.

Based on application, the hydraulic fluid market has been segmented into OEM, mining equipment, construction equipment, transportation (automotive, aviation, and marine), oil & gas, metal production, food & beverage and others (cement production, paper, textile, rubber & plastic, lumber & wood, pharmaceuticals, pharmaceuticals & medical, power generation, and forestry & agriculture). The demand for hydraulic fluid is high in the OEM application. Oil replacement is also important for smooth functioning of the hydraulic systems used in the OEM application. These factors support the growth of the OEM application segment of the hydraulic fluid market.

The hydraulic fluid market has been studied in APAC, Europe, North America, the Middle East & Africa, and South America. APAC is the largest hydraulic fluid market globally, due to massive industrial growth in emerging countries of the region, such as China, India, and South Korea. APAC is a manufacturing hub due to the high GDP growth of China, India, Japan, South Korea, and others. Moreover, rising construction activities, especially in the residential sector of China, and the increasing expenditure on infrastructure development in India are driving the APAC hydraulic fluid market.

High industrial growth and demand for the hydraulic fluid from the automotive industry is expected to drive the hydraulic fluid market during the forecast period. Domestic and foreign investments in key sectors, such as energy, manufacturing, construction, and mining have been increasing in the APAC region. Moreover, high industrial growth in the Middle East & Africa is expected to drive the hydraulic fluid market during the next 5 years. The improved ability of the hydraulic fluid to perform under extreme temperatures and pressure is also expected to fuel the growth of the hydraulic fluid market during the forecast period.

Some of the key players in the hydraulic fluid market include Royal Dutch Shell (Netherlands), ExxonMobile (US), BP (UK), Chevron Corporation (US), Total (France), PetroChina (China), Sinopec (China), LUKOIL (Russia), Indian Oil Corporation (India), and Idemitsu Kosan (Japan).

Market Dynamics


Drivers

    --  Massive Industrial Growth in APAC and the Middle East & Africa
    --  Improved Quality of Hydraulic Fluids
    --  Growing Automotive Industry in APAC
    --  Increasing Demand From Marine Application

Restraints

    --  Technological Advancements
    --  Oil Rejuvenation
    --  Stringent Environmental Regulations

Opportunities

    --  Availability of Semi-Synthetic Hydraulic Fluid
    --  Availability of Zinc-Free (Ashless) Hydraulic Fluid

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Hydraulic Fluid Market, By Base Oil

7 Hydraulic Fluid Market, By Application

8 Hydraulic Fluid Market, By Region

9 Competitive Landscape

10 Company Profiles

    --  Addinol Lube Oil GmbH
    --  Amalie Oil Co.
    --  BP (British Petroleum)
    --  Bechem Lubrication Technology LLC.
    --  Bel-Ray Company LLC.
    --  Chevron Corporation
    --  ENI SPA
    --  Exxonmobil
    --  Idemitsu Kosan
    --  Indian Oil Corporation
    --  Liqui Moly GmbH
    --  Lukoil
    --  Morris Lubricants
    --  Peak Lubricants
    --  Penrite Oil
    --  Petrochina Company
    --  Phillips 66 Company
    --  Rock Valley Oil & Chemical Co.
    --  Royal Dutch Shell
    --  Sinopec
    --  Total
    --  Valvoline

For more information about this report visit https://www.researchandmarkets.com/research/8shbrn/hydraulic_fluid?w=5

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