Press release
Hydraulic Oil Market,By Base Oil (Mineral Oil, Synthetic Oil, Semi-Synthetic Oil and Bio-based Oil),registering a CAGR of 7.30%
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.
View Detailed Report: https://www.databridgemarketresearch.com/reports/global-hydraulic-oil-market
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.
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.
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)
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)
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
Original Equipment Manufacturer (OEM)
Mining Equipment
Construction Equipment
Transportation
Oil and Gas
Metal Production
Food and Beverage
Others
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