Fluid Transfer System Market Size – USD 17.57 Billion in 2020, Market Growth – at a CAGR of 6.2%, Market Trends – Implementation of stringent emission standards
The report clearly defines the Fluid Transfer System market position on a global level. The detailed insights into the market’s geographical spectrum offered by the report make it an excellent source of knowledge about the Fluid Transfer System industry.
Fluid transfer systems are commonly used in manufacturing, shipping, automotive, and aerospace industries. These systems are incorporated into machines or can also be used independently. Some common components of fluid transfer systems are hoses, pipes, valves, and accessory loading equipment. These systems are used in automobiles for air conditioning, fuel injection, and engine cooling. Growing adoption of Selective Catalytic Reduction (SCR) in diesel engines, along with rise in vehicle production and demand are some other key factors driving market growth.
The Global Fluid Transfer System Market report assesses the historical and current data along with a thorough analysis of the market dynamics. The report also sheds light on the significant market growth driving and restraining factors that are anticipated to influence the market growth through the forecast period.
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Key Market Dynamics: The global Fluid Transfer System market research report details on the ongoing market trends, development outlines, and several research methodologies. It illustrates the key factors that directly manipulate the market, for instance, production strategies, development platforms, and product portfolio. According to our researchers, even minor changes within the product profiles could result in huge disruptions to the above-mentioned factors. Each of these factors has been elaborately discussed in the initial segment of the study.
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Some Key Highlights in the Report
- Selective Catalytic Reduction (SCR) is a cost-effective fuel-efficient technology used to reduce emissions from diesel engines. All heavy-duty diesel truck engines manufactured after 1 January 2020 are required to meet the Environmental Protection Agency (EPA) emission standard. The standard is very stringent, and aimed at reducing nitrogen oxide (NOx) and particulate matter (PM) to near-zero levels. SCR can reduce nitrogen oxide emissions up to 90% while reducing hydrocarbon (HC) and carbon monoxide emissions by 50–90% and particulate matter (PM) emissions by 30–50%.
- Rubber hoses are commonly used for fluid transfer and are designed for specific fluid, pressure, and temperature ranges and are available in a variety of specifications. Rubber hoses have capability of resisting erosive wear better than steel pipes in certain applications.
- North America accounted for a significantly large revenue share in 2020 due to presence of major market players such as Cooper Standard and Gates Corporation. Increasing investment in research & development of advanced fluid transfer systems in countries in the region is expected to propel growth of the North America market going ahead.
- Key players in the market include Contitech, Cooper Standard, Lander Automotive, Akwel, Gates Corporation, Hutchinson, Tristone, TI Fluid Systems, Castello Italio, and Kongsberg Automotive.
The findings of the report explain various aspects of the market, such as market status, developmental prospects, key regional segments, renowned market players, product offerings, end-use industries.
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Geographical Terrain of the Global Fluid Transfer System Market:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
The global Fluid Transfer System market is segmented based on product types offered in the market, their applications, end-user industries, different types of technologies, and key regions of the market.
- Equipment Type Outlook (Revenue, USD Billion; 2018–2028)
- AC lines
- Air suspension lines
- SCR lines
- Brake lines
- DPF lines
- Fuel lines
- Turbo coolant lines
- Transmission oil cooling lines
- Type Outlook (Revenue, USD Billion; 2018–2028)
- Hoses
- Tubing
- Application Outlook (Revenue, USD Billion; 2018–2028)
- Automotive
- Battery Electric Vehicle (BEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
- Mild Hybrid Vehicles
- Aerospace
- Manufacturing
- Others
- Automotive
- Material Outlook (Revenue, USD Billion; 2018–2028)
- Aluminum
- Stainless Steel
- Rubber
- Nylon
- Steel
- Others
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Key Questions You Asked:
- What is the growth rate of the Fluid Transfer System market? What is the anticipated market valuation of the Fluid Transfer System industry by 2028?
- What are the key growth driving and restraining factors of the Fluid Transfer System market?
- Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
- What are the key opportunities and growth prospects of the Fluid Transfer System industry over the forecast period?
- Which region is expected to show significant growth in the coming years?
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