Hydraulic Fluids Market Size Is Expected To Reach USD 12.0 Billion By 2030Posted by Neha Bora on September 27th, 2022 San Francisco, 27 Sep 2022: The Report 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 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. 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. Access Research Report of Hydraulic Fluids Market @ https://www.grandviewresearch.com/industry-analysis/hydraulic-fluids-market-report Hydraulic Fluids Market Report Highlights
List of Key Players in the Hydraulic Fluids Market
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