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Fluid Transfer System Market Size, Share, Forecast, Report 2033
Fluid Transfer System Market Size
As per the report, 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 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%.
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Automotive Industry Growth Fuels Fluid Transfer System Market Expansion
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.
Strategic Partnerships Drive Innovation In Fluid Transfer System Market
Strategic partnerships are a key trend gaining popularity in the fluid transfer system market. Major companies operating in the fluid transfer system are partnering with other companies to strengthen their position in the market. For instance, in August 2022, Contitech, a Germany-based machine industry company operating in the fluid transfer system market, partnered with Industrie Saleri Italo S.p.A. (Saleri), an Italy-based automotive company. This partnership enables the creation of high-performance coolant fluid management devices for the battery electric vehicle market (EV). Further, in December 2021, TI Fluid Systems, a US-based manufacturer of automotive fluid transfer systems, partnered with Mercedes-Benz, a Germany-based luxury vehicle manufacturer. This partnership enables TI Fluid Systems to manufacture and supply fluid transfer components to Benz.
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
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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.
Contents of the report:
1. Executive Summary
2. Fluid Transfer System Market Report Structure
3. Fluid Transfer System Market Trends And Strategies
4. Fluid Transfer System Market - Macro Economic Scenario
5. Fluid Transfer System Market Size And Growth
…..
27. Fluid Transfer System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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