According to a market report by Lucintel, the future of the global hydraulic fluids market looks promising with opportunities in the construction, metal & mining, agriculture, oil & gas, transportation, cement production, food processing, and power generation markets. The global hydraulic fluids market is expected to reach an estimated $13.7 billion by 2030 with a CAGR of 6.7% from 2024 to 2030. The major drivers for this market are growing demand for material-handling equipment, rising number of infrastructure projects, and increasing awareness among consumer towards harmful effects of lubricants.
In this market, mineral oil, synthetic oil, and bio-based oil are the major segments of hydraulic fluids market by type.
Lucintel forecasts that synthetic oil is expected to witness highest growth over the forecast period as it ensures improved performance over mineral oil.
Within this market, oil & gas will remain the largest segment due to growing usage of hydraulic fluids in oil and gas applications as a fire-resistant fluids.
APAC will remain the largest region over the forecast period due to rapid industralization and increasing construction activities in the region.
Royal Dutch Shell, ExxonMobil, BP PLC, Chevron, Total S.A., Petrochina Company, Idemitsu Kosan, Sinopec Limited, Fuchs Petrolub, Valvoline, and Petronas are the major suppliers in the hydraulic fluids market.This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected]