Global Hydraulic Oil Market is expected to rise to an estimated value of USD 24.49 billion by 2026, registering a substantial CAGR in the forecast period of 2019-2026.
Hydraulic oil is a fluid which is used for transmitting power in hydraulic systems. The fluid has the low pour point, helps in protecting from rust and oxidation. These hydraulic fluids help the hydraulic system to function in harsh environmental conditions by preventing corrosion. These oils have wide applications in the field of hydraulic elevator, hydraulic brake system, hydraulic ram, shock absorber, crane and hydraulic press.
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Key Market Competitors:
Few of the major competitors currently working in the global hydraulic oil market are Royal Dutch Shell Plc, Exxon Mobil Corporation, BP p.l.c, Chevron Corporation, Total, PetroChina Company Limited, LUKOIL Marine Lubricants DMCC, Indian Oil Corporation Ltd, Valvoline LLC, Idemitsu Kosan Co.,Ltd., RENKERT OIL, JXTG Nippon Oil & Energy Corporation, Castrol Limited among others
Global hydraulic oil market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Hydraulic Oil market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Segmentation: Hydraulic Oil Market
- By Base Oil (Mineral Oil, Synthetic Oil, Semi-Synthetic Oil and Bio-based Oil)
- By Type (Paraffinic Oils, Naphthenic Oils, Aromatic Oils and Veg and Bio Oils)
- By Application (OEM, Mining Equipment, Construction Equipment, Transportation, Oil & Gas, Metal Production, Food & Beverage and Others)
- By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
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