Fluid Transfer System Market by Type (Brake, Fuel, AC, Air Suspension, DPF, SCR, Transmission Oil, Turbo Coolant, Engine & Battery Cooling, Air Brake), Material (Al, Rubber, Nylon, Steel, Stainless Steel), On & Off-Highway, EV and Region – Global Forecast to 2025
Northbrook, IL 60062 — (SBWIRE) — 03/22/2022 — The fluid transfer system market is projected to grow to USD 24.7 billion by 2025 from USD 17.8 billion in 2020, at a CAGR of 6.7% during the forecast period. The primary factor driving the fluid transfer system is the implementation of stringency in emission standards around the world. Further, the market growth is also driven by the increased demand for better driving comfort and in-vehicle comfort applications such as rear air conditioning.
Thus, new emission standards and fuel economy parameters have compelled manufacturers to adopt fluid transfer systems to meet these standards. Also, increasing adoption of turbochargers is driving the turbo coolant lines market. The fluid transfer system is used in all vehicle types, including electric vehicles, hybrid vehicles, and plug-in hybrid vehicles. Growing sales of electric vehicles due to attractive government incentives and developments in electric powertrain technologies are expected to boost the fluid transfer system market. Considering the above-mentioned factors, the fluid transfer system market is expected to grow significantly in the coming years.
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SCR line is expected to be the fastest-growing segment of the fluid transfer system market, by equipment type, during the forecast period
SCR lines market is expected to register the fastest growth during the forecast period. Passenger cars and LCVs diesel vehicles with engine capacity of over two liters are also getting equipped with SCRs as they emit more NOx than with smaller engine capacities. Moreover, due to the ongoing and upcoming stringent emission norms in developing countries, lower consumption of fuel, and lesser CO2 emissions, the demand for SCRs is expected to increase significantly across all vehicle types by 2025 at a global level and subsequently propel the market for SCR lines. Stringent Euro 5 emission standards have compelled automakers to adopt SCR lines in their vehicles, mainly in Europe. A study conducted by the European Association of Transport & Environment explained that SCR is the most effective technology to reduce vehicular emissions. Various car manufacturers, such as PSA Peugeot Citroen, have decided to implement their SCR lines before DPF lines.
Battery electric vehicles (BEVs) is the largest segment in the fluid transfer system market, by electric & hybrid vehicle type
Due to attractive government policies, BEV sales have grown considerably and expected to grow significantly in the coming years. BEVs employ lines such as air suspension lines, AC lines, brake lines, and battery cooling lines. Growing BEV sales in Asia Pacific, particularly in China, is expected to significantly drive BEV fluid transfer system market. Implementation of government subsidies to support sales of BEVs is expected to boost the BEV fluid transfer system market.Thus, with growing sales, BEV fluid transfer system is expected to grow in the future.
Key Market Players
The fluid transfer system market is dominated by global players and comprises several regional players as well. The key players in the fluid transfer system market are Cooper Standard (US), Kongsberg (Switzerland), Contitech (Germany), Akwel (France), and TI fluid systems (UK).
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