Press release
Fluid Transfer System Global Market Report 2024 | Cooper-Standard Automotive Inc., Aakarshakti Car Decor Ltd., TI Fluid Systems Plc, Gates Industrial Corporation plc
Fluid Transfer System Global Market
The Business Research Company presents an extensive market research report on the Fluid Transfer System Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The fluid transfer system market size has grown strongly in recent years. It will grow from $19.71 billion in 2023 to $21.35 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to industrialization, infrastructure development, oil & gas exploration, manufacturing expansion, automotive sector growth..
The fluid transfer system market size is expected to see strong growth in the next few years. It will grow to $29 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to energy efficiency focus, resilience and adaptability, safety and reliability standards, urbanization and construction, industrial automation.. Major trends in the forecast period include customization and tailored solutions, energy efficiency, adaptability and flexibility, digital transformation, safety and compliance standards..
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Key Market Players:
Major companies operating in the fluid transfer system market report are Cooper-Standard Automotive Inc., Aakarshakti Car Decor Ltd., TI Fluid Systems Plc, Gates Industrial Corporation plc, Lander Automotive Ltd., Tristone Flowtech Group SAS, AGS Automotive Solutions, Kongsberg Automotive Holdings AS, Continental Aktiengesellschaft, Castello Italia S.p.A., Hutchinson S.A., Graco Inc., Sanoh Industrial Co. Ltd., Yamada America Inc., Kros Otomotiv Sanayi ve Ticaret A.S., Balcrank Corporation, MGI Coutier, Parker-Hannifin Corporation, Coutier Junior Company, Pirtek Fluid Systems Pty. Ltd., Eaton Corporation, Compagnie de Saint-Gobain S.A., Smiths Group plc, W. L. Gore & Associates Inc., Festo AG & Co. KG, Swagelok Company, Christian Bürkert GmbH & Co. KG, Antylia Scientific, The Flowserve Corporation, ITT Inc.
Market Drivers:
Growth and expansion of the automotive industry are expected to propel the growth of the fluid transfer system market going forward. The automotive sector refers to the sector that encompasses businesses involved in the creation, distribution, sale, and upkeep of automobiles. Fluid transfer system helps the automotive industry by gear lubrication, torque converter operation, and valve body operation, and limiting consumption and emission levels. For instance, according to the European Automobile Manufacturers' Association (ACEA), a Belgium-based lobbying and standards group of the automobile industry, in September 2022, in the European Union new passenger car registrations rose by 9.6% from September 2021. Therefore, the growth and expansion of the automotive industry are driving the fluid transfer system market.
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https://www.thebusinessresearchcompany.com/report/fluid-transfer-system-global-market-report
The fluid transfer system market covered in this report is segmented -
1) By Type: Air Suspension Lines, Fuel Lines, Brake Lines, AC Lines, Diesel Particulate Filter (DPF) Lines, Selective Catalytic Reduction (SCR) Lines, Transmission Oil Cooling Lines, Turbo Coolant Lines
2) By Material: Nylon, Stainless Steel, Aluminum, Steel, Rubber, Other Materials
3) By Application: Automotive, Aerospace, Manufacturing, Other Applications
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
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