888-776-0942 from 8 AM - 10 PM ET

SAN FRANCISCO , July 12, 2022 /PRNewswire/ -- The global hydraulic fluids market size is anticipated to reach USD 12.0 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.2% from 2022 to 2030. In recent years, industrialization has been on a rise, particularly in emerging economies such as India , China , and Brazil , among others. The share of the manufacturing industry in the GDP is increasing significantly for these countries. Various policies by governments all over the world are being targeted toward the growth of industrial sectors.

Key Industry Insights & Findings from the report:

Read full market research report for more Insights, "Hydraulic Fluids Market Size, Share & Trends Analysis Report By Base Oil (Mineral Oil, Synthetic Oil, Bio-based Oil), By End-use (Construction, Oil & Gas, Agriculture, Metal & Mining), By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Hydraulic Fluids Market Growth & Trends

The digital revolution, combined with artificial intelligence, has opened numerous new opportunities for fluid power. It will take time to turn into high-power electromechanical solutions. The industry must leverage the inherent capabilities of fluid power technology and expand its reach through technological advancements. In terms of energy efficiency, fluid power technology has huge potential. The focus will soon shift to the development of high-speed switching valves, high-efficiency hydraulic fluids, and more efficient pumps and motors. In 2020, the market was severely affected by the global pandemic. Prices were dropped due to the lack of demand for lubricants and oils from end-user industries such as construction, automotive, marine, and aerospace, among others.

In recent years, a huge fluctuation in the prices of base oil and hydraulic fluids has been experienced by the industries. In 2021, the prices of the market skyrocketed owing to the sudden demand for the product after the revival of the end-user industries. In 2022, the Russia -Ukraine war has resulted in the further increase of the base oil and hydraulic fluids prices.

Grand View Research has segmented the global hydraulic fluids market based on base oil, end-use, and region:

Hydraulic Fluids Market - Base Oil Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

Hydraulic Fluids Market - End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

Hydraulic Fluids Market - Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

List of Key Players in the Hydraulic Fluids Market

Check out more related studies published by Grand View Research:

Browse through Grand View Research's Petrochemicals Industry Research Reports.

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco , the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact: Sherry James Corporate Sales Specialist, USA Grand View Research, Inc. Phone: 1-415-349-0058 Toll Free: 1-888-202-9519 Email: [email protected] Web: https://www.grandviewresearch.com Grand View Compass | Astra ESG Solutions Follow Us: LinkedIn | Twitter

Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg

SOURCE Grand View Research, Inc.

Cision Distribution 888-776-0942 from 8 AM - 9 PM ET