The increasing vehicle production and stringency in emission norms will drive the fluid transfer system market
New York, Oct. 08, 2019 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Fluid Transfer System Market by Type, Material, Vehicle Type and Region - Global Forecast to 2027" - https://www.reportlinker.com/p05817000/?utm_source=GNW
The fluid transfer system market is projected to grow to USD 29.6 billion by 2027 from USD 17.5 billion in 2019, at a CAGR of 6.8% during the forecast period. The major driving factors for the fluid transfer system industry are stringent emission norms, fuel efficiency regulations, and increasing adoption rate of SCRs in diesel engines around the globe. Furthermore, increasing vehicle production is expected to boost market growth. However, increasing sales of BEVs is acting as a restraint for the fluid transfer system market growth.
Agricultural tractors are estimated to be the largest and fastest-growing market for the off-highway vehicle segment
The factors that drive the agricultural tractor market are increasing mechanization in the agriculture industry worldwide, lack of skilled farm labor, increasing labor cost, and the growing need for operational efficiency and profitability. Agricultural tractor manufacturers are continually innovating and looking to go one step further with their technological advancements related to exhaust systems, changing the face of the fluid transfer system market in agricultural tractors.
Rubber is expected to be the largest material segment of the fluid transfer system market
Rubber hoses are the most commonly used types. Rubber hoses can be classified into two types, viz., synthetic rubber, and natural rubber. These are used for fuel lines, AC lines, Brake lines, turbo coolant hoses, and transmission cooling hoses. Natural rubber breaks down when exposed to oil, but synthetic rubber has much better chemical resistance, elasticity, resilience, which makes it a better alternative for natural rubber. Properties of rubber such as hot and cold temperature sustainability, high tear strength, and most importantly, lower costs are the driving forces for the growth of the rubber market in the fluid transfer system material market.
Asia Pacific is expected to be the largest market for fluid transfer system, whereas RoW will be the fastest-growing
The upcoming emission norms in Asia Pacific are the biggest driving force for the fluid transfer system market.In the Asia Pacific region, the European and American standards are being followed, except in Japan, as it has its emission norms.
It is estimated to have a 100% adoption rate of DPF by 2021 for all vehicle types.The SCR adoption rate is expected to be 100% by 2021 for buses and trucks, and by 2025 for passenger cars and LCVs.
These norms will increase the adoption of DPF, SCR, air suspension, turbocharger lines, and consequently, the market for fluid transfer system.The RoW market growth can be attributed to the increasing demand for automobiles, coupled with the availability of cheap labor, low transportation costs, and flexible export-import policies and upcoming stringent emission norms.
Also, the demand for premium vehicles is likely to increase, which is expected to further strengthen the growth of fluid transfer system applications such as front and rear air conditioning.
The breakup of primary respondents
• By Company Type: Tier I - 30%, Tier II - 20%, and OEMs -50%
• By Designation: C level - 30%, D level - 45%, Others – 25%
• By Region: Europe - 20%, Asia Oceania - 35%, North America - 30%, RoW – 15%
The fluid transfer system industry is dominated by global players and comprises several regional players including Cooper Standard (US), Kongsberg (Switzerland), Contitech (Germany), Akwel (France), Hutchinson (France), Lander automotive (UK), Tristone (Germany), Castello Italia (Italy), Gates (US), and TI fluid systems (UK). The study includes an in-depth competitive analysis of these key players in the fluid transfer system market with their company profiles, SWOT analysis of the top five companies, MnM view, recent developments, and key market strategies.
The study segments the fluid transfer system market and forecasts the market size based on type (air suspension lines, fuel lines, AC lines, brake lines, DPF lines, SCR lines, transmission oil cooling lines, turbo coolant lines), material (nylon, steel, stainless steel, aluminum, rubber, other materials), vehicle type (passenger cars, light commercial vehicles, trucks, and buses), electric vehicles (battery electric vehicle, hybrid electric vehicle, plug-in hybrid electric vehicle), off-highway vehicles (construction equipment, mining equipment, and agriculture tractors), and region (North America, Europe, Asia Pacific, and RoW).
Key Benefits of Buying the Report:
This report provides insights with reference to the following points:
• Country-level fluid transfer system market by type: The report offers in-depth market sizing and forecasts up to 2027, by service (air suspension lines, fuel lines, ac lines, brake lines, DPF lines, SCR lines, transmission oil cooling lines, turbo coolant lines). The market sizing for fluid transfer system market is covered at the country and regional levels.
• Market coverage by materials into nylon, steel, stainless steel, aluminum, rubber at the regional level.
• The report provides “Market Share” of the leading players in the fluid transfer system market.
• Market Development: The report provides comprehensive information about lucrative emerging markets for fluid transfer system across different regions.
• Product Development/Innovation: The report gives detailed insights into R&D activities, upcoming regulations, and new services in the fluid transfer system market.
• Market Diversification: The report offers detailed information about untapped markets, investments, new products, and recent developments in the fluid transfer system market.
Read the full report: https://www.reportlinker.com/p05817000/?utm_source=GNW
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