Global Hydraulic Fluids Market 2018-2022| Adoption of Green and Bio-based Fluids to Drive Growth| Technavio
The global hydraulic fluids market is expected to post a CAGR of nearly 3%
during the period 2018-2022, according to the latest market research
report by Technavio.
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Technavio has published a new market research report on the global hydraulic fluids market for the period 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is the rapid urbanization
and growth in the construction industry. In developing countries such as
China, Japan, India, Brazil, and Indonesia, the market is witnessing
substantial growth. Many OEMs are shifting their manufacturing
activities to these countries due to factors such as cheap labor, easy
availability of raw materials and land, alongside low transportation
costs. Also, the growing population, income, and purchasing power of
buyers in developing countries are generating high demand for hydraulic
fluids.
This market research report on the global
hydraulic fluids market 2018-2022 also provides an analysis of
the most important trends expected to impact the market outlook during
the forecast period. Technavio classifies an emerging trend as a major
factor that has the potential to significantly impact the market and
contribute to its growth or decline.
This report is available at a USD 1,000 discount for a limited time
only: View
market snapshot before purchasing
In this report, Technavio highlights the adoption of green and bio-based
fluids as one of the key emerging trends in the global hydraulic fluids
market:
Global hydraulic fluids market: Adoption of
green and bio-based fluids
The market largely depends on crude oil resources to produce hydraulic
fluids. The increase in demand for energy and rising urbanization in
developed and developing countries have pressurized vendors to increase
the production of hydraulic fluids. This, in turn, has contributed to
climate change along with depletion of fossil resources. These crude
oil-based lubricants, which are largely used in the manufacturing of
hydraulic fluids, degrade poorly and pose as an environmental hazard
when released.
“Various other factors such as an increase in the price of petroleum
products, increased dependence on offshore sources, and a decrease in
the rate of finding new reserves have increased the use of sustainable
bio-based hydraulic fluids as a replacement for petroleum products,” says
a senior analyst at Technavio for research on specialty chemicals.
Global hydraulic fluids market: Segmentation
analysis
This market research report segments the global hydraulic fluids market
by application (construction machinery, transportation machinery,
agricultural machinery, mining machinery, and oil and gas machinery) and
geographical regions (APAC, EMEA, and the Americas).
The construction machinery segment held the largest market share in
2017, accounting for nearly 28% of the market. This application segment
is expected to dominate the global market throughout the forecast period.
APAC led the market in 2017 with a market share of nearly 40%. This
region is expected to dominate the market through 2022.
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Some of the key topics covered in the report include:
Market Landscape
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Market ecosystem
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Market characteristics
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Market segmentation analysis
Market Sizing
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Market definition
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Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
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Regional comparison
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Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
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Vendors covered
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Vendor classification
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Market positioning of vendors
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Competitive scenario
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