Hydraulic Fluids Market Size To Reach $14,481.6 Million By 2033

Hydraulic Fluids Market Growth & Trends

The global hydraulic fluids market size is anticipated to reach USD 14,481.6 million by 2033, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 5.7% from 2026 to 2033. 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.

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Hydraulic Fluids Market Report Highlights

• The mineral oil segment led the market and accounted for 63.1% of the global revenue share in 2025. Mineral-based oils are the most often utilized hydraulic fluids. They are easily accessible and cost-effective. The only significant downside of petroleum-based hydraulic oils is that they are flammable. Mineral-based hydraulic oils are made from fractions of crude oil. They are also polished to the point where they have suitable lubricating properties

• The agriculture segment is expected to emerge as one of the fastest-growing end uses in the hydraulic fluids market, registering a CAGR of 6.3% during the forecast period.

• The construction segment dominated the industry with a revenue share of 18.4% in 2025. The segment is witnessing robust growth as hydraulic fluids are extensively used across a wide range of construction equipment, including excavators, loaders, cranes, bulldozers, and concrete machinery.

Hydraulic Fluids Market Segmentation

Grand View Research has segmented the global hydraulic fluids market report based on product, end use and region.

Hydraulic Fluids Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2033)

• Mineral Oil

• Synthetic Oil

• Bio Oil

Hydraulic Fluids End Use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2033)

• Construction

• Metal & Mining

• Oil & Gas

• Agriculture

• Aerospace & Defense

• Automotive

• Other End Use

Hydraulic Fluids Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2033)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • France

  • UK

  • Russia

  • Netherlands

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

• Middle East & Africa

  • Saudi Arabia

  • South Africa

• Latin America

  • Brazil

  • Argentina

List Of Key Players in the Hydraulic Fluids Market

• Exxonmobil Corporation

• Chevron Corporation

• TotalEnergies

• PetroChina Company Limited

• China Petrochemical Corporation (SINOPEC)

• Eastman Chemical Company

• BP p.l.c.

• FUCHS

• Valvoline Global Operations