Chicago, Nov. 03, 2022 (GLOBE NEWSWIRE) — Fluid Transfer System Market the size is expected to increase from USD 19.1 billion in 2022 to USD 25.0 billion by 2027, at a CAGR of 5.6% over the forecast period, according to a new report from MarketsandMarkets™.
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The growing popularity of electric vehicles is expected to have a positive impact on the fluid transfer systems market. The focus on electric and hybrid vehicles has intensified in response to impending new pollution limits and increasing fuel economy standards, which is expected to have a substantial impact on the global transfer system market of fluids. For example, PHEVs are high-end vehicles that are very expensive and feature the most advanced technology. PHEVs use a variety of lines, including those for air suspension, brakes and engine cooling. Thus, with the growth of these electric vehicles, the fluid transfer systems market may witness a change in landscape in the coming years.
The need for superior cabin comfort experience influences the demand for AC lines during the forecast period.
An increase in the superior cabin comfort experience has propelled the growth of the ever-increasing AC line market. Air conditioning has become a common system found in almost every passenger car in the world. The growing demand for mid-size and full-size SUVs and luxury vehicles with improved cabin comfort will drive the air conditioning market mainly for the rear compartment and 2nd and 3rd rows in the case of SUVs. In addition, regional bodies are increasingly pushing to make cabin air conditioning mandatory for heavy-duty vehicles. For example, the European Commission has mandated the use of air conditioning in the cabin of all commercial trucks, and the Indian government has proposed mandating the installation of air conditioning in HCVs. However, these are not yet fully realized. Thus, there is stiff competition between car manufacturers to provide increased comfort. This competition has increased the pressure on OEMs to provide technologically advanced automotive air conditioning systems. These factors are expected to boost the AC power line market and in turn propel the AC power line market during the forecast period.
The passenger car segment is expected to be the fastest growing segment for fluid transfer systems during the forecast period
The passenger car segment is expected to hold the largest fluid transfer system market share during the forecast period. Growing demand for passenger cars equipped with advanced engine technologies to increase efficiency, such as TGDI technology, is expected to significantly boost sales of passenger car turbocharger cooling lines. Additionally, the demand for mid-size and full-size SUVs with separate rear air conditioning and the increasing installation rate of air brakes and air suspension, especially in high-end vehicles for better comfort and luxury, will drive the market. of fluid transfer during the forecast period. .
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Asia-Pacific would be the fastest growing fluid transfer system market from 2022 to 2027
Asia-Pacific is estimated to be the largest growing market for Fluid Transfer Systems from 2022 to 2027, as upcoming emission standards in Asia-Pacific region are among the major factors influencing the market fluid transfer systems. For example, China implemented China 6a in January 2021 and plans to implement 6b in 2023. Similarly, India implemented BS VI standards in 2020. At the same time, demand luxury cars has increased dramatically. The increase in demand for vehicles, especially high-end passenger cars, especially SUVs, has increased the need for comfort and luxury in the cabin and has increased the demand for better air conditioning systems and suspension technologies. For example, in China, the growing popularity of high-end vehicles is attracting huge investment from domestic and foreign companies. Premium brands such as Mercedes-Benz and Audi saw growing demand. Japan and South Korea have a large share of fluid transfer system devices in passenger cars due to the high market share of D-, E-, and F-segment cars that require air suspension technologies and turbochargers . Large SUV production in Asia-Pacific provides huge growth opportunities for regional and overseas OEMs to offer the latest and most advanced models to meet regional customer demand. In addition, OEMs are also focusing on direct injection engines for gasoline cars (TGDI) to meet upcoming emission standards. This trend is expected to grow rapidly during the forecast period. Thus, the region’s market for fluid transfer systems is expected to grow significantly in the coming years.
Main market players
The Fluid Transfer System Market is dominated by global players and includes several regional players. The major players in the fluid transfer systems market are Cooper Standard (US), Kongsberg Automotive (Switzerland), TI fluid systems (UK), Continental AG (Germany), Akwel (France), Gates Corporation (US United States), Hutchinson (France), Lander Automotive (United Kingdom), Tristone (Germany) and Castello Italia (Italy).
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