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(Transportation-News.com, November 03, 2021 ) 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 demand for fluid transfer system is primarly driven by stringent emission norms, coupled with increasing adoption of SCR, turbochargers and growing demand for premium vehicles.
The fluid transfer system industry is expected to be positively impacted by growing popularity of electric vehicles. The decreased emission limits and increased fuel efficiency requirements have increased the focus on electric & hybrid vehicles, which, in turn, is expected to have a significant impact on the global fluid transfer system market. For instance, PHEVs are premium vehicles equipped with the most high-end features available and are high on cost. PHEVs employ lines such as battery cooling lines, engine cooling lines, brake lines, air suspension lines etc. Thus, with growth of such electric vehicles, the fluid transfer system market may witness a landscape change in the coming years.
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AC lines segment will hold the largest share of the fluid transfer system market
Increase in superior cabin experience has propelled to ever-increasing the growth of the AC lines market. Today, almost all the vehicles that are manufactured are equipped with an air conditioning system. Thus, there is tough competition between automakers to provide enhanced comfort. This competition has increased pressure on OEMs to deliver technologically advanced automotive air conditioning systems. Also, the increasing popularity of premium vehicles, has driven the adoption of rear AC system. Thus, the increasing demand for rear air conditioning has also driven the growth of AC lines and is expected to grow further in coming years.
PC is the fastest-growing segment for fluid transfer system as it is witnessing increasing usage of SCR and DPF
The passenger car segment is estimated to hold the largest market share of the fluid transfer system market during the forecast period. In addition, the implementation of Euro 6 and EPA Tier 3 norms for passenger cars demands a 100% DPF deployment. Alternatively, the demand for SCR has increased in developed countries to comply with existing emission standards for NOx gases.
Also, the growing demand for cars equipped with TGDI is expected to significantly drive the sales of passenger car turbo coolant lines. Thus, with upcoming regulations like China 6 a and 6b and India’s BS-VI, the markets for turbochargers, DPF, and SCR are expected to grow at a prominent rate in the coming years and boost the market for fluid transfer systems in passenger cars.
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Asia Pacific is estimated to be the largest geographical segment of the fluid transfer system market
The upcoming emission norms in Asia Pacific are the most prominent driving forces for the fluid transfer system market. For instance, China implemented China 6a & 6b, India implemented BS VI norms in 2020. Also, At the same time, the demand for luxury cars has increased considerably. The increase in demand for vehicles, especially premium passenger cars, has accentuated the need for cabin comfort and luxury and enhanced the demand for better air conditioning systems and suspension technologies. OEMs are also shifting focus on direct injection engines for gasoline cars (TGDI) to meet the upcoming emission norms, and this trend is expected to grow rapidly during the forecast period. Thus, the market for fluid transfer systems in the region is expected to grow significantly in the coming years.
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), TI fluid systems (UK), Contitech (Germany), Akwel (France), Hutchinson (France), Lander automotive (UK), Tristone (Germany), Castello Italia (Italy), and Gates (US).
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