Fluid Transfer System - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Fluid Transfer System market is accounted for $16.36 billion in 2019 and is expected to reach $32.12 billion by 2027 growing at a CAGR of 8.8% during the forecast period. Some of the key factors propelling the market growth include the implementation of stringent emission norms around the globe, growing demand for luxury vehicle models, increasing adoption rate of after-treatment devices in diesel engines, increasing vehicle sales, and the sharp focus of manufacturers on engine downsizing. However, growing popularity of electric vehicles may impact ICE fluid transfer system market is restraining the market growth.
A fluid transfer system is a set of components needed to transfer fluids often oil or fuel. These systems have the ability to offer efficient & safe loading & offloading in different onshore and offshore applications. Such systems will use flexible pipes for moving crude oil or other media into complex applications, including means for processing, deploying and recovering flexible pipes and integrating power, utility equipment and control. Few of the common types of the fluid air suspension lines, AC lines, selective catalytic reduction lines, brake lines, and turbo coolant lines. They also have the ability to offer abrasion resistance, corrosion resistance, and weight reduction.
By type, tubing is expected to be the fastest-growing segment during the forecast period. Tubing is typically rigid and made of steel or stainless steel. It is used for turbo coolant lines, transmission oil cooling lines, turbo coolant lines, etc. Stainless steel is used for tubing purposes because of its benefits such as corrosion resistance, high-temperature oxidation, durability, and hardness. As the emission norms implementation is getting stringent, automakers are adoption technologies such as turbochargers, after-treatment devices. This will increasing adoption of these, turbo coolant tubing, SCR tubing, DPF tubing is expected to grow in the future.
On the basis of geography, Asia Pacific is expected to be the largest market in the forecast period, due to high passenger vehicle sale in the region and the implementation of stringent emission standards such as BS VI, China 6a & 6b. This has compelled OEMs to adopt technologies such as TGDI, SCR and DPF in their vehicle models. For instance, domestic OEMs in China now offer TGDI engines to comply with emission norms. China has the largest market for TGDI or GDI engines in the world. Also, growing sales of premium vehicles have driven growth of front & rear AC conditioning system.
Some of the key players in Fluid Transfer System Market include ContiTech, TI Fluid Systems., Tristone Flowtech Holding SAS, Sanoh Industrial Co. Ltd., Lander Automotive LTD, Gates Corporation, Pirtek Fluid Systems Pty. Ltd., Cooper Standard, Kongsberg Automotive, Hutchinson SA, Kros Otomotiv Sanayi ve, Parker-Hannifin Corporation, Graco Inc, Balcrank Corporation, Yamada America., and Castello Italia SpA.
Equipment Types Covered:
• Brake Lines
• Battery Cooling Lines
• Air Suspension Lines
• Transmission Oil Cooling Lines
• Air Conditioner (AC) Lines
• Fuel Lines
• Diesel Particulate Filters (DPF) Lines
• Selective Catalytic Reduction (SCR) Lines
• Air Brake Lines
• Engine Cooling Lines
• Turbo Coolant Lines
Electric & Hybrid Vehicles Covered:
• Hybrid Electric Vehicle (HEV)
• Plug-In Hybrid Electric Vehicles (PHEV)
• Battery Electric Vehicles (BEV)
• Fuel Cell Electric Vehicles (FCEV)
• On-Highway Vehicle (OHV)
• Stainless Steel
On-Highway Vehicles Covered:
• Passenger Cars (PC)
• Commercial Vehicles
Off-Highway Vehicles Covered:
• Construction Equipment
• Mining Equipment
• Agriculture Tractors
• Aerospace & Defense
• Sporting Goods
• Construction & Building
• Electronics & Telecommunication
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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