The Global Hydraulics and pneumatics market are extremely prominent as it finds its application in different applications and across various industries including marine, industrial machinery and automotive. The Hydraulic Fluid Market is predicted to accrue a healthy growth of USD 4,317.10 million at a favorable 2.5% CAGR over the predicted years (2016-2023). Hydraulic Fluid and hydraulic oil are often used interchangeably, yet they are not the same. Hydraulic oil is basically a fluid while the hydraulic fluid may also comprise of some other fluids such as salt solutions, water-oil emulsions and plain water. It is the hydraulic Fluid that is responsible for contamination control, heat transfer and lubrication.
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There are a couple of factors that is driving the growth of the Hydraulic Fluid Market. Some of the market trends and factors in this market as per an analysis conducted by Market Research Future (MRFR) include unprecedented rate of industrialization, emerging automotive and transportation industry, increasing use of Hydraulic Fluids in various sectors such as marine, aircraft, construction and oil and gas and significant development pace in this sector. But unfortunately, there are some factors that is likely to pull down the growth of the Hydraulic Fluid Market such as dwindling price of crude oil, hydraulic fluids’ toxic nature as well as stringent environment regulations.
Market Research Future report provides a comprehensive segmental analysis of the Hydraulic Fluid Market on the basis of Types and End-Users.
Based on Types, it is segmented into fire-resistant, petroleum based and bio-based. Of these, the bio-based fluid segment has the maximum market share and is implementing innovations as well such as using fire-resistant elements for making the same consumer-friendly.
Based on End-Users, the Hydraulic Fluid Market is segmented into construction, aircraft, industrial machinery, marine, oil and gas and automobile. Of these, the oil and gas segment have the maximum market share owing to big investments being made by the government in the oil and gas and defense sectors.
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Based on Region, the Hydraulic Fluid Market covers growth opportunities and latest trends across Europe, APAC, Latin America, North America, and Middle East & Africa. Of these, the APAC region will take the market to new heights. It accounts for about 35% of the main market share. The developing end-user industries especially automotive and oil and gas is predicted in motivating the hydraulic fluid market in this region. North America grabs the second highest share and is amid the most profitable with regards to value that is predicted to touch USD 99.04% million at a remarkable 1.90% CAGR over the predicted years. The US drives this region having the maximum demand for the hydraulic fluids during 2016. Europe has the third largest market share with the UK, France and Germany being the key contributors. The Middle East and Africa and the Latin American region also has a good share in the market and is expected in demonstrating further growth during the predicted years.
The Hydraulic Fluid Market is highly competitive and fragmented. The key players in the market are targeting in gaining a considerable share that is evolving rapidly and has an environment that is relatively competitive. The significant transformation of this sector owing to the rapid growth pace has resulted in ample advantages. The development of the industry in the coming years can be used upon through ongoing process improvement on a constant basis and upholding financial fluidity for investing in the finest strategies possible when it is available.
Leading players profiled in the Hydraulic Fluid Market include Castrol Limited (U.K.), British Petroleum Plc. (U.K.), LUKOIL Lubricants Company (Russia), Schaeffer Manufacturing Co (U.S.), Schaeffer Manufacturing Co (U.S.), Eastman Chemical Company (U.S.), Condat (Europe), BASF SE (Germany), The Dow Chemical Company (U.S.), Exxon Mobil Corporation (U.S.) and Royal Dutch Shell plc (Netherland).
July 2018- Moong Focal has come up with its most recent Pneumatic and Hydraulic FRU (Fluid Rotary Union). This latest model has been created for marine and industrial applications where ample fluid passes requires being transferred across the rotational interface. It will be available in an array of design options resting on the application.
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