Image

Global Hydraulic Oil Market – Industry Trends and Forecast to 2029

Chemical and Materials

Image

Global Hydraulic Oil Market – Industry Trends and Forecast to 2029

  • Chemical and Materials
  • Upcoming Report
  • Jun 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Hydraulic Oil Market – Industry Trends and Forecast to 2029

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2021–2029
Diagram Market Size (Base Year) USD 10.47 USD Billion
Diagram Market Size (Forecast Year) USD 18.40 USD Billion
Diagram CAGR %

Major Markets Players

  • Dummy1
  • Dummy2
  • Dummy3
  • Dummy4
  • Dummy5

Global Hydraulic Oil Market, By Base Oil (Mineral Oil, Synthetic Oil, Semi-Synthetic Oil and Bio-based Oil), Type (Paraffinic Oils, Naphthenic Oils, Aromatic Oils and Veg and Bio Oils), Application (Original Equipment Manufacturer (OEM), Mining Equipment, Construction Equipment, Transportation, Oil and Gas, Metal Production, Food and Beverage and Others) – Industry Trends and Forecast to 2029

Hydraulic Oil Market

Market Analysis and Size

In recent years, the production capacity for hydraulic oil has increased significantly across the globe. Moreover, the Group II and III base oils are primarily gaining popularity for utilization in lubricant formulations for automatic transmission engines, heavy-duty trucks, and passenger automobiles. Therefore, these determinants are expected to for drive the development of the global hydraulic oil market in the anticipated period.

Global Hydraulic Oil Market was valued at USD 10.47 billion in 2021 and is expected to reach USD 18.40 billion by 2029, registering a CAGR of 7.30% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

By Base Oil (Mineral Oil, Synthetic Oil, Semi-Synthetic Oil and Bio-based Oil), Type (Paraffinic Oils, Naphthenic Oils, Aromatic Oils and Veg and Bio Oils), Application (Original Equipment Manufacturer (OEM), Mining Equipment, Construction Equipment, Transportation, Oil and Gas, Metal Production, Food and Beverage and Others)

Countries Covered

U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa

Market Players Covered

Chevron Corporation (U.S.), Exxon Mobil Corporation (U.S.), S-OIL CORPORATION (South Korea), Motiva Enterprises LLC (U.S.), SK innovation Co., Ltd. (South Korea), Shell (Netherlands), Neste (Finland), AVISTA OIL Deutschland GmbH (Germany), Nynas AB (Sweden), Repsol (Spain), Ergon, Inc. (U.S.), Calumet Specialty Products Partners, L.P. (U.S.), H&R Group (Germany), Sinopec Corp. (China), PetroChina Company Limited (China), Saudi Aramco (Saudi Arabia), Abu Dhabi National Oil Company (ADNOC) (UAE), PT Pertamina (Persero) (Indonesia), Phillips 66 Company (U.S.), Petroliam Nasional Berhad (PETRONAS) (Malaysia) among others

Market Opportunities

  • accessibility of semi-synthetic hydraulic fluid
  • increase in the popularity of utilizing the bio-based hydraulic oils

Market Definition

Hydraulic oils can be also referred to as hydraulic liquids, or hydraulic fluids which are a chief part of the hydraulic systems, through which the power is conveyed in the hydraulic gear. Hydraulic oils are chiefly utilized in conveying potential and kinetic energy in a hydraulic system. Hydraulic oils commonly offer a flow of volume in the pumps and the hydrostatic motors.

Hydraulic oil Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

  • High Requirement of Hydraulic Oils

As modern industry demands better speeds and efficiency at higher working pressures and temperatures, demand for various types of hydraulic systems is steadily increasing. Hydraulic oils fulfil activities including lubrication, energy transmission, and heat removal from machinery components.

The rise in industrial growth will further propel the growth rate of the hydraulic oil market. Additionally, the enhanced quality of the hydraulic fluids will also drive market value growth. Moreover, the base oils in Groups II and III are suitable for use in lubricant formulations for automatic transmission engines, heavy-duty trucks, and passenger automobiles, and various properties of Group II and III base oils are projected to bolster the growth of the market.

Opportunities

Surge in Popularity and Accessibility of Semi-synthetic oils

Furthermore, the increase in the popularity of utilizing the bio-based hydraulic oils extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the accessibility of semi-synthetic hydraulic fluid will further expand the future growth of the hydraulic oil market.

Restraints/Challenges

  • High Costs

On the other hand, the rise in the expenses of the synthetic and bio-based hydraulic fluid and the change towards the synthetic hydraulic fluid is further projected to impede the growth of the hydraulic oil market in the timeline period.

  • Fluctuations in Prices

Also, the fluctuations in the prices of raw materials will prove to be a demerit for the hydraulic oil market. Therefore, this will challenge the hydraulic oil market growth rate.

This hydraulic oil market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the hydraulic oil market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Hydraulic oil Market

The recent outbreak of coronavirus had a negative impact on the hydraulic oil market. In 2020, the COVID-19 pandemic had a detrimental impact on the hydraulic fluids business. Manufacturing activity in several industries, including automotive, aerospace, construction, oil and gas, and mining, was halted for an extended time during the epidemic. As a result, the demand for hydraulic fluids in these industries has fallen. Automobile manufacturing, for example, fell 15.8% in 2020 compared to the previous year. However, due to the relaxation of lockdown requirements, output in these sectors resumed in the second half of 2020.

Recent Development

  • In August 2020, Chevron Products Company, a subsidiary of Novvi LLC and Chevron U.S.A. Inc., announced the production of the first 100 percent renewable base oil from Novvi's Deer Park, Houston facility using ISODEWAXING technology. The novel manufacturing process and molecules are expected to outperform conventional and synthetic base oils while also being made from renewable feedstocks.
  • In July 2020, SWEPI LP, a Royal Dutch Shell subsidiary, has completed the sale of its Appalachia shale gas position to Seneca Resources Company, LLC and NFG Midstream Covington, LLC, both subsidiaries of National Fuel Gas Company, for USD 541 million to invest as an asset for quality base oil production.

Global Hydraulic oil Market Scope

The hydraulic oil market is segmented on the basis of base oil, type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

 Base Oil

  • Mineral Oil
  • Synthetic Oil
  • Semi-Synthetic Oil
  • Bio-based Oil

Type

  • Paraffinic Oils
  • Naphthenic Oils
  • Aromatic Oils
  • Veg and Bio Oils

Application

Hydraulic oil Market Regional Analysis/Insights

The hydraulic oil market is analysed and market size insights and trends are provided by country, baseoil, type  and application as referenced above.

The countries covered in the hydraulic oil market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the growth of industrial sector within the region.

On the other hand, Asia-Pacific is estimated to show lucrative growth over the forecast period of 2022-2029 due to the rise in the population. Furthermore, the growing of the construction expenses in the advancing countries, the rise in the industrialization and the increase in the demand for the hydraulic oil in the region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Hydraulic oil Market Share Analysis

The hydraulic oil market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to hydraulic oil market.

Some of the major players operating in the hydraulic oil market are

  • Chevron Corporation (U.S.)
  • Exxon Mobil Corporation (U.S.)
  • S-OIL CORPORATION (South Korea)
  • Motiva Enterprises LLC (U.S.)
  • SK innovation Co., Ltd. (South Korea)
  • Shell (Netherlands)
  • Neste (Finland)
  • AVISTA OIL Deutschland GmbH (Germany)
  • Nynas AB (Sweden)
  • Repsol (Spain)
  • Ergon, Inc. (U.S.)
  • Calumet Specialty Products Partners, L.P. (U.S.)
  • H&R Group (Germany)
  • Sinopec Corp. (China)
  • PetroChina Company Limited (China)
  • Saudi Aramco (Saudi Arabia)
  • Abu Dhabi National Oil Company (ADNOC) (UAE)
  • PT Pertamina (Persero) (Indonesia)
  • Phillips 66 Company (U.S.)
  • Petroliam Nasional Berhad (PETRONAS) (Malaysia)


SKU-

Please fill in the below form for detailed Table of Content

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Please fill in the below form for detailed List of Table

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Please fill in the below form for detailed List of Figure

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Please fill in the below form for Infographics

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Please fill in the below form for Research Methodology

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

Please fill in the below form for Available Customization

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Get online access to the report on the World's First Market Intelligence Cloud

  • Interactive Data Analysis Dashboard
  • Company Analysis Dashboard for high growth potential opportunities
  • Research Analyst Access for customization & queries
  • Competitor Analysis with Interactive dashboard
  • Latest News, Updates & Trend analysis
  • Harness the Power of Benchmark Analysis for Comprehensive Competitor Tracking
Request for Demo

FREQUENTLY ASK QUESTIONS

Global Hydraulic Oil Market segmented By Application such as Original Equipment Manufacturer (OEM), Mining Equipment, Construction Equipment, Transportation, Oil and Gas, Metal Production, Food and Beverage and Others.
The major players covered in the hydraulic oil market report are Royal Dutch Shell Plc, Exxon Mobil Corporation., bp p.l.c, Chevron Corporation., Total, PetroChina Company Limited, LUKOIL, Indian Oil Corporation Ltd, Valvoline LLC, Idemitsu Kosan Co., Ltd., RENKERT OIL, JXTG Nippon Oil & Energy Corporation, Castrol Limited, FUCHS, Sinopec, Process Oil Inc., Sasol Limited, Phillips 66 Company., Morris Lubricants, and Calumet Specialty Products Partners, L.P., among other domestic and global players.
The Hydraulic Oil Market is to grow at a CAGR of 7.30% during the forecast by 2029.
The market value for Hydraulic Oil Market is expected USD 18.40 billion by 2029.
Free Sample Report

CHOOSE LICENCE TYPE

  • 7000.00
  • 4800.00
  • 3000.00
  • 8000.00
  • 12000.00

Why Choose Us

Industry Coverage

DBMR works across the globe in multiple industries which equip us with knowledge across verticals and provide our clients with insights not only from their industry but how other industries will impact their ecosystem.

Regional Coverage

Coverage of Data Bridge is not restricted to developed or emerging economies. We work across the globe covering the largest array of countries where no other market research or business consulting firm has ever conducted research; creating growth opportunities for our clients in areas which are still unknown.

Technology Coverage

In today’s world, technology drives the market sentiment, so our vision is to provide our clients insights not only for developed technologies but upcoming and disrupting technological changes throughout the product lifecycle by enabling them with unforeseen opportunities in the market which will create disruption in their industry. This leads to innovation and our clients to come out as winners.

Goal Oriented Solutions

DBMR goal is to help our clients achieve their goals through our solutions; hence we formatively create the most appropriate solutions for our client needs, saving time and efforts for them to drive their grand strategies.

Unparallel Analyst Support

Our analysts take pride in our clients’ success. Unlike others, we believe in working along our clients to achieve their goals with 24 hours analyst support determining the correct needs and inspire innovation through service.

Banner

Client Testimonials