Hydraulic fluid is also known as hydraulic liquid. It is the energy or power transfer medium in all the hydraulic machinery. Nevertheless, the work of the hydraulic fluid goes far beyond simple transmission of power. One of the variant of hydraulic fluid is the common hydraulic fluid which is based on water and mineral oil. Even though the primary purpose of hydraulic fluid is transmission of hydraulic energy, it also helps in four types of secondary functions such as contamination removal, heat transfer, lubrication and sealing. Equipments such as hydraulic brakes, excavators and backhoes, transmissions, power steering systems, aircraft flight control systems, garbage trucks, industrial machinery and lifts, etc., use hydraulic fluids for smooth functioning. These hydraulic systems will function with utmost efficacy if the hydraulic fluid used in these has zero compressibility. Hydraulic machines generate excess heat in normal working; this is due to inefficient elements like motors and pumps. With no method to channel heat away from these elements, they can overheat sooner and lead to damage of seals and internal elements, particularly a resultant of low local viscosity. Once the oil comes back to the reservoir, it usually goes through a cooler to aid itself in maintaining appropriate range temperature just before it is pumped back away from the system. In reverse manner, the hydraulic fluid can channel heat into a system while the cold starts, as and when required.
The global hydraulic fluids market is expected to garner maximum revenue shares in the future owing to several factors and will register itself at a considerable CAGR during the forecast period. Credit to the constant rise in the region’s civil aviation industry, the hydraulic fluid market is consistently booming. The market is further lucratively driven by several factors such as industrialization in the Asia-Pacific region, and increasing automotive industries on a global level.
Escalating demand of automobiles in several emerging economies such as India, China and Japan is propelling this market’s industry further. Besides, increased consumer awareness along with rigorous government regulations is also promoting the market growth of this industry. The global hydraulic fluids market is characterized by both environmental and economic factors.
The key market manufacturers of the global hydraulic fluids market are Accor Librifiants, Agip, Carl Bechem, Castrol Industrial, Condat, Dow Corning, Enerpac, Exxonmobil, Lubricants & Petrol Spec, Lubrication Engineers, Motul Tech, OKS Spezialschmierstoffe, Permatex, Rocol, Schaeffler Technologies, Setral Chemie, Shell Lubricants, and Unil Opal. The market segmentation based of several regions of this industry is North America, China, Europe, Japan, India, and Southeast Asia. Depending on the product type, this market is split into Fire Resistant Hydraulic Fluids – HFA (Oil in Water Emulsions), HFC (Water Glycol Fluids), HFB (Water in Oil Emulsions), and HFD (Anhydrous Synthetic Fluids); and Mineral Based Hydraulic Fluids – HL (mineral oils with oxidation and rust inhibitors), HH (mineral oil without additives), and HM (improved anti-wear additives). The end-user applications of this market are industrial machinery, automotive, marine, etc.