
Hydraulic Fluids Market Report and Forecast 2025-2034
Description
The global hydraulic fluids market attained a value of more than USD 8.60 Billion in 2024. The market is further expected to grow in the forecast period of 2025-2034 at a CAGR of 6.60% to reach above USD 16.30 Billion by 2034.
The Asia Pacific Accounts for a Significant Share of the Market for Hydraulic Fluids
The Asia Pacific accounts for a considerable share of the hydraulic fluid industry due to rapid industrialisation in developing economies like India and China. The increasing construction activities owing to the rising requirement to accommodate the growing population in the region is driving the market for hydraulic fluids. With the growing utilisation of hydraulic machines for the precision and optimisation of construction processes, the demand for hydraulic fuels is increasing, hence driving the market growth.
Moreover, the increasing manufacturing of automobiles in countries like China and India, among others, is leading to a surge in the demand for hydraulic fluids, which is significantly contributing to the growth of the market. As hydraulic fluids can effectively handle high pressures, they are increasingly preferred in heavy duty applications in the region, which is providing further impetus to the growth of the hydraulic fluids industry.
Hydraulic Fluids: Market Segmentation
Hydraulic fluids, also known as hydraulic liquid, are medium that transfers power into hydraulic machinery components. They are also used for secondary functions like heat transfer, contamination removal, sealing, and lubrication. Excavators, garbage trucks, lifts, aircraft flight control systems, and industrial machines are some of the equipment that use hydraulic fluids. They find their applications in major industries like oil and gas, automotive, and aerospace, among others.
The major base oils of hydraulic fluids are:
The growing use of hydraulic equipment in various industries, such as construction and automotive, among others, are driving the growth of the hydraulic fluids industry. As hydraulic systems are designed to operate under high temperatures, high pressures, and various complex circumstances, they are extensively deployed in challenging applications, hence bolstering the market growth. The increasing use of hydraulic fluid to decrease the wear and tear of parts, protect the internal systems from corrosion, and external environments from erosion, is augmenting the growth of the market.
With the growing sustainability concerns, the use of hydraulic fluids for the functional safety of systems is fuelling the market growth. The development of innovative seals that are compatible with hydraulic fluids is projected to propel the market growth. Furthermore, advancements in fluid technology of hydraulic systems are expected to enhance the applications of hydraulic fluid, which is anticipated to fuel the market growth.
Key Industry Players in the Global Hydraulic Fluids Market
The report presents a detailed analysis of the following key players in the global hydraulic fluids market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
The Asia Pacific Accounts for a Significant Share of the Market for Hydraulic Fluids
The Asia Pacific accounts for a considerable share of the hydraulic fluid industry due to rapid industrialisation in developing economies like India and China. The increasing construction activities owing to the rising requirement to accommodate the growing population in the region is driving the market for hydraulic fluids. With the growing utilisation of hydraulic machines for the precision and optimisation of construction processes, the demand for hydraulic fuels is increasing, hence driving the market growth.
Moreover, the increasing manufacturing of automobiles in countries like China and India, among others, is leading to a surge in the demand for hydraulic fluids, which is significantly contributing to the growth of the market. As hydraulic fluids can effectively handle high pressures, they are increasingly preferred in heavy duty applications in the region, which is providing further impetus to the growth of the hydraulic fluids industry.
Hydraulic Fluids: Market Segmentation
Hydraulic fluids, also known as hydraulic liquid, are medium that transfers power into hydraulic machinery components. They are also used for secondary functions like heat transfer, contamination removal, sealing, and lubrication. Excavators, garbage trucks, lifts, aircraft flight control systems, and industrial machines are some of the equipment that use hydraulic fluids. They find their applications in major industries like oil and gas, automotive, and aerospace, among others.
The major base oils of hydraulic fluids are:
- Mineral Oil
- Synthetic Oil
- Bio-based Oil
- Oil and Gas
- Marine
- Automotive
- Aerospace and Defence
- Construction
- Others
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
The growing use of hydraulic equipment in various industries, such as construction and automotive, among others, are driving the growth of the hydraulic fluids industry. As hydraulic systems are designed to operate under high temperatures, high pressures, and various complex circumstances, they are extensively deployed in challenging applications, hence bolstering the market growth. The increasing use of hydraulic fluid to decrease the wear and tear of parts, protect the internal systems from corrosion, and external environments from erosion, is augmenting the growth of the market.
With the growing sustainability concerns, the use of hydraulic fluids for the functional safety of systems is fuelling the market growth. The development of innovative seals that are compatible with hydraulic fluids is projected to propel the market growth. Furthermore, advancements in fluid technology of hydraulic systems are expected to enhance the applications of hydraulic fluid, which is anticipated to fuel the market growth.
Key Industry Players in the Global Hydraulic Fluids Market
The report presents a detailed analysis of the following key players in the global hydraulic fluids market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- BASF SE
- Royal Dutch Shell plc.
- Exxon Mobil Corporation
- Chevron Corporation
- TotalEnergies SE
- Others
Table of Contents
154 Pages
- 1 Executive Summary
- 1.1 Market Size 2024-2025
- 1.2 Market Growth 2025(F)-2034(F)
- 1.3 Key Demand Drivers
- 1.4 Key Players and Competitive Structure
- 1.5 Industry Best Practices
- 1.6 Recent Trends and Developments
- 1.7 Industry Outlook
- 2 Market Overview and Stakeholder Insights
- 2.1 Market Trends
- 2.2 Key Verticals
- 2.3 Key Regions
- 2.4 Supplier Power
- 2.5 Buyer Power
- 2.6 Key Market Opportunities and Risks
- 2.7 Key Initiatives by Stakeholders
- 3 Economic Summary
- 3.1 GDP Outlook
- 3.2 GDP Per Capita Growth
- 3.3 Inflation Trends
- 3.4 Democracy Index
- 3.5 Gross Public Debt Ratios
- 3.6 Balance of Payment (BoP) Position
- 3.7 Population Outlook
- 3.8 Urbanisation Trends
- 4 Country Risk Profiles
- 4.1 Country Risk
- 4.2 Business Climate
- 5 Global Hydraulic Fluids Market Analysis
- 5.1 Key Industry Highlights
- 5.2 Global Hydraulic Fluids Historical Market (2018-2024)
- 5.3 Global Hydraulic Fluids Market Forecast (2025-2034)
- 5.4 Global Hydraulic Fluids Market by Base Oil
- 5.4.1 Mineral Oil
- 5.4.1.1 Historical Trend (2018-2024)
- 5.4.1.2 Forecast Trend (2025-2034)
- 5.4.2 Synthetic Oil
- 5.4.2.1 Historical Trend (2018-2024)
- 5.4.2.2 Forecast Trend (2025-2034)
- 5.4.3 Bio-Based Oil
- 5.4.3.1 Historical Trend (2018-2024)
- 5.4.3.2 Forecast Trend (2025-2034)
- 5.5 Global Hydraulic Fluids Market by End Use
- 5.5.1 Oil and Gas
- 5.5.1.1 Historical Trend (2018-2024)
- 5.5.1.2 Forecast Trend (2025-2034)
- 5.5.2 Marine
- 5.5.2.1 Historical Trend (2018-2024)
- 5.5.2.2 Forecast Trend (2025-2034)
- 5.5.3 Automotive
- 5.5.3.1 Historical Trend (2018-2024)
- 5.5.3.2 Forecast Trend (2025-2034)
- 5.5.4 Aerospace and Defence
- 5.5.4.1 Historical Trend (2018-2024)
- 5.5.4.2 Forecast Trend (2025-2034)
- 5.5.5 Construction
- 5.5.5.1 Historical Trend (2018-2024)
- 5.5.5.2 Forecast Trend (2025-2034)
- 5.5.6 Others
- 5.6 Global Hydraulic Fluids Market by Region
- 5.6.1 North America
- 5.6.1.1 Historical Trend (2018-2024)
- 5.6.1.2 Forecast Trend (2025-2034)
- 5.6.2 Europe
- 5.6.2.1 Historical Trend (2018-2024)
- 5.6.2.2 Forecast Trend (2025-2034)
- 5.6.3 Asia Pacific
- 5.6.3.1 Historical Trend (2018-2024)
- 5.6.3.2 Forecast Trend (2025-2034)
- 5.6.4 Latin America
- 5.6.4.1 Historical Trend (2018-2024)
- 5.6.4.2 Forecast Trend (2025-2034)
- 5.6.5 Middle East and Africa
- 5.6.5.1 Historical Trend (2018-2024)
- 5.6.5.2 Forecast Trend (2025-2034)
- 6 North America Hydraulic Fluids Market Analysis
- 6.1 United States of America
- 6.1.1 Historical Trend (2018-2024)
- 6.1.2 Forecast Trend (2025-2034)
- 6.2 Canada
- 6.2.1 Historical Trend (2018-2024)
- 6.2.2 Forecast Trend (2025-2034)
- 7 Europe Hydraulic Fluids Market Analysis
- 7.1 United Kingdom
- 7.1.1 Historical Trend (2018-2024)
- 7.1.2 Forecast Trend (2025-2034)
- 7.2 Germany
- 7.2.1 Historical Trend (2018-2024)
- 7.2.2 Forecast Trend (2025-2034)
- 7.3 France
- 7.3.1 Historical Trend (2018-2024)
- 7.3.2 Forecast Trend (2025-2034)
- 7.4 Italy
- 7.4.1 Historical Trend (2018-2024)
- 7.4.2 Forecast Trend (2025-2034)
- 7.5 Others
- 8 Asia Pacific Hydraulic Fluids Market Analysis
- 8.1 China
- 8.1.1 Historical Trend (2018-2024)
- 8.1.2 Forecast Trend (2025-2034)
- 8.2 Japan
- 8.2.1 Historical Trend (2018-2024)
- 8.2.2 Forecast Trend (2025-2034)
- 8.3 India
- 8.3.1 Historical Trend (2018-2024)
- 8.3.2 Forecast Trend (2025-2034)
- 8.4 ASEAN
- 8.4.1 Historical Trend (2018-2024)
- 8.4.2 Forecast Trend (2025-2034)
- 8.5 Australia
- 8.5.1 Historical Trend (2018-2024)
- 8.5.2 Forecast Trend (2025-2034)
- 8.6 Others
- 9 Latin America Hydraulic Fluids Market Analysis
- 9.1 Brazil
- 9.1.1 Historical Trend (2018-2024)
- 9.1.2 Forecast Trend (2025-2034)
- 9.2 Argentina
- 9.2.1 Historical Trend (2018-2024)
- 9.2.2 Forecast Trend (2025-2034)
- 9.3 Mexico
- 9.3.1 Historical Trend (2018-2024)
- 9.3.2 Forecast Trend (2025-2034)
- 9.4 Others
- 10 Middle East and Africa Hydraulic Fluids Market Analysis
- 10.1 Saudi Arabia
- 10.1.1 Historical Trend (2018-2024)
- 10.1.2 Forecast Trend (2025-2034)
- 10.2 United Arab Emirates
- 10.2.1 Historical Trend (2018-2024)
- 10.2.2 Forecast Trend (2025-2034)
- 10.3 Nigeria
- 10.3.1 Historical Trend (2018-2024)
- 10.3.2 Forecast Trend (2025-2034)
- 10.4 South Africa
- 10.4.1 Historical Trend (2018-2024)
- 10.4.2 Forecast Trend (2025-2034)
- 10.5 Others
- 11 Market Dynamics
- 11.1 SWOT Analysis
- 11.1.1 Strengths
- 11.1.2 Weaknesses
- 11.1.3 Opportunities
- 11.1.4 Threats
- 11.2 Porter’s Five Forces Analysis
- 11.2.1 Supplier’s Power
- 11.2.2 Buyer’s Power
- 11.2.3 Threat of New Entrants
- 11.2.4 Degree of Rivalry
- 11.2.5 Threat of Substitutes
- 11.3 Key Indicators for Demand
- 11.4 Key Indicators for Price
- 12 Value Chain Analysis
- 13 Competitive Landscape
- 13.1 Supplier Selection
- 13.2 Key Global Players
- 13.3 Key Regional Players
- 13.4 Key Player Strategies
- 13.5 Company Profiles
- 13.5.1 BASF SE
- 13.5.1.1 Company Overview
- 13.5.1.2 Product Portfolio
- 13.5.1.3 Demographic Reach and Achievements
- 13.5.1.4 Certifications
- 13.5.2 Royal Dutch Shell Plc
- 13.5.2.1 Company Overview
- 13.5.2.2 Product Portfolio
- 13.5.2.3 Demographic Reach and Achievements
- 13.5.2.4 Certifications
- 13.5.3 Exxon Mobil Corporation
- 13.5.3.1 Company Overview
- 13.5.3.2 Product Portfolio
- 13.5.3.3 Demographic Reach and Achievements
- 13.5.3.4 Certifications
- 13.5.4 Chevron Corporation
- 13.5.4.1 Company Overview
- 13.5.4.2 Product Portfolio
- 13.5.4.3 Demographic Reach and Achievements
- 13.5.4.4 Certifications
- 13.5.5 TotalEnergies SE
- 13.5.5.1 Company Overview
- 13.5.5.2 Product Portfolio
- 13.5.5.3 Demographic Reach and Achievements
- 13.5.5.4 Certifications
- 13.5.6 Others
Pricing
Currency Rates
Questions or Comments?
Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.