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Procurement Market Intelligence Report

Hydraulic Oil
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Hydraulic Oil?

What is the average price of Hydraulic Oil?

This procurement report includes pricing information to help you purchase Hydraulic Oil. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.

Has the price of Hydraulic Oil been rising or falling?

Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.

I’m not ready to purchase Hydraulic Oil yet. Will I pay more if I wait too long?

We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.

What other costs are associated with purchasing Hydraulic Oil?

Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Hydraulic Oil with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Find the vendor to meet your needs

Where can I purchase ?

The hydraulic oil market exhibits a medium level of market share concentration. Overall, there are an estimated 900 suppliers of hydraulic oil in the United States, and currently, the top four manufacturers account for about 48.7% of the market's total revenue. The market's largest companies, including BP, ExxonMobil, Shell and... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Experience and Expertise

How long have you provided these products to your longest-tenured client?

What qualifications does your staff have and what measures do you take to keep those qualifications up to date?

What industry do you most commonly supply this product for?

To what extent will ordering multiple products from your firm allow me to save on costs?

What is your repeat business rate for businesses in my industry and how does that compare to your overall rates?

Supply Chain Risk

Over the past three years, what percentage of your revenue has been dedicated to raw input materials? How has that changed?

Has the availability of raw materials tightened due to the coronavirus outbreak?

Over the past three years, what percentage of your revenue has been dedicated to labor?

How have fluctuations in input prices affected the prices of your products during the past three years?

How do you mitigate sudden price increases in raw materials?

When input prices rise, how much of the cost is absorbed by you and how much is passed onto buyers?

How, if at all, has your supply chain been affected by import tariffs levied in 2018?

Regulation

How do you manage regulatory change? Do you have regulation advisers or methods to track regulation?

How have changing regulations influenced your pricing now and how will the changes affect prices over the life our proposed agreement?

What ongoing training procedures do you provide for your staff?

Have you ever been found to be noncompliant with regulatory frameworks?

Amid widespread health concerns during the COVID-19 pandemic, what contingency plans are in place to mitigate risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?

Pricing Structure

How has your average price for your hydraulic oil products changed during the past three years?

Can I qualify for discounts if I purchase a high volume of hydraulic oil?

Are transportation costs fully covered in the price of your oil products, or is there potential for additional expenses, such as fuel surcharges?

If the price of key inputs, such as oil and other chemical compounds, were to increase, how would this impact the price of your product?

COVID-19

Do you source materials with a high exposure to market disruptions resulting from the coronavirus? How are you coping with these disruptions?

How diversified is your supplier base for inputs? Do you source from multiple suppliers in different global regions?

Amid widespread health concerns, what contingency plans are in place to mitigate the risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?

Are you experiencing fluctuations in demand as a result of the coronavirus outbreak? What measures are you taking to handle increased or reduced demand?

Experience

When was your company established and how long have you been supplying hydraulic oil to buyers?

Who has been your largest client and how satisfied were they with your operations?

How do you track customer satisfaction, and do you have client references?

What is your repeat customer rate?

What is your past experience in working with a company of my size and scope?

Geographic Coverage

How many branches do you have across the United States? Do you operate globally?

Can you ship hydraulic oil internationally?

What is your delivery schedule and turnaround rate?

What is your return policy for junk and used oil?

What is your on-time delivery rate?

Can you safely overnight large quantities of hydraulic oil?

Competition

How do you win and retain business?

Are there any incentives for repeat customers?

What promotional deals do you offer on hydraulic oil?

What additional services or value-added features come with a large purchase or long-term supply contract?

Are you able to custom blend oil to fit my specific composition?

Do you have any plans to expand your service or product offerings in the next three years?

Quality

What have you done to improve oil quality during the past few years?

What quality awards or recognition have you received?

What have you done to ensure that you are meeting or exceeding quality standards?

What grades of hydraulic oils do you produce?

What manufacturing specifications do you follow in the production of your products?

Innovation

What is your latest hydraulic oil product and when was it introduced?

When was the last time your company took steps to increase wear resistance? How have viscosity indices changed over time?

When do you expect to release a new line of products related to hydraulic oil?

How do you respond to new introductions by competitors?

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Key elements for every RFP

What should my RFP include?

Project Budget

Buyers should provide a total value for the contract.

Buyers must state their payment preferences.

Selection Criteria

Buyers should evaluate suppliers on their ability to comply with the specifications of the RFP.

Buyers should evaluate suppliers on their ability to provide competitive prices.

Buyers should reference the Buying-Decision Scorecard section of this report for key criteria to consider when evaluating providers.

Project Schedule

Buyers should state the date that the RFP was issued.

Buyers should provide a date of when submissions are due.

Buyers should provide a date of when the award will be made.

Evaluate major factors to mitigate risk

How risky is the supply chain?

The hydraulic oil market has a medium level of supply chain risk overall, which weakens buyer power because it indicates there is an increased likelihood of suppliers encountering upstream supply issues. Of all upstream suppliers, crude oil refiners and oil pipeline transportation providers pose the greatest threat to the supply... Subscribe to learn more.

HIGH

MEDIUM

LOW