October 9, 2018 - 3:15 PM EDT
Print Email Article Font Down Font Up
Global Hydraulic Fluids Market 2018-2022| Adoption of Green and Bio-based Fluids to Drive Growth| Technavio

LONDON

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.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181009006085/en/

Technavio has published a new market research report on the global hydraulic fluids market for the p ...

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.

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at [email protected].

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com


Source: Business Wire (October 9, 2018 - 3:15 PM EDT)

News by QuoteMedia
www.quotemedia.com

Legal Notice