Global fluid transfer system market was valued at 17.2 USD Billion in 2018 and is expected to be valued at 28.47 USD Billion in 2026 at a CAGR of 6.5%.
The global fluid transfer system market was valued at 17.2 USD Billion in 2018 and is expected to be valued at 28.47 USD Billion in 2026 at a CAGR of 6.5%. The fluid transfer system market report covers forecast and analysis on a global and regional level. The report presents the complete valuation of the market, opportunities, rivalry, emerging trends, and industry-validated market numbers. The report presents important data of 2016, 2017, & 2018 along with a forecast from 2019 to 2026 based revenue (USD Billion).
A fluid transfer system is a set of components needed to transfer fluids often oil or fuel. Fluid transfer systems are widely used in shipping, manufacturing, aerospace, and automotive industries. These systems can be incorporated in machines or can be operated independently. Pipes, hoses, valves, and accessory loading equipment are common components of fuel transfer systems. These systems are also occurring in automobiles for fuel injection, air conditioning, engine cooling. Here, hoses and valves are used to direct and control the flow. The increasing adoption rate of selective catalytic reduction (SCR) in diesel engines coupled with rising automobile production is accelerating the market growth. Moreover, stringent emissions and fuel efficiency regulations around the globe are also driving the growth of the global fluid transfer system market. On the dark side, lower replacement rate of fluid transfer systems could hinder the market growth.
Based on the type, the global fluid transfer system market has been classified into fuel lines, air suspension lines, AC lines, brake lines, diesel particulate filter (DPF) lines, transmission oil cooling lines, selective catalytic reduction (SCR) lines, and turbo coolant lines. The selective catalytic reduction (SCR) segment has accredited for the largest share in terms of revenue. The increasing number of passenger cars and LCVs are equipping with SCRs as they emit more NOx as compare to small size engines. Additionally, due to ongoing stringent emission norms, lesser CO2 emissions, and lower consumption of fuel, the demand for this segment is significantly elevating.
The global fluid transfer system market is categorized into a passenger car, light commercial vehicle, truck, and bus. In the global fluid transfer system market passenger car segment has gained substantial growth over the years. Increasing sales of passenger cars coupled with rising number of automobile production in fueling the segment growth. Moreover, increasing adoption rate of SCRs in passenger car engines is further boosting the segment growth, which in turn driving the demand for fluid transfer system market value.
Based on the region, Asia-Pacific has accredited for the highest market share in 2018. Increasing the population in the region coupled with increasing sales of automobiles equipping with SCRs is driving regional growth. Increasing adoption of SCR in buses and trucks with rising implementation of stringent rules and regulations regarding CO2 emissions is further escalating the market in the region.
The fluid transfer system market is merged with major players including Gates, Castello Italia, Tristone, Hutchinson, Lander Automotive, TI Fluid Systems, Akwel, Contitech, Kongsberg Automotive, and Cooper Standard. The major tactics implemented by these leading companies in the market are recent developments, partnerships, and mergers & acquisitions. These companies are focusing on investment in collaborations, evolutions, and expansions to increase their market stake.
This report segments the global fluid transfer systems market as follows:
Global Fluid Transfer Systems Market: Type Segment Analysis
Global Fluid Transfer Systems Market: Material Segment Analysis
Global Fluid Transfer Systems Market: Vehicle Type Segment Analysis
Global Fluid Transfer Systems Market: Regional Segment Analysis
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