PUBLISHER: The Business Research Company | PRODUCT CODE: 1425477
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425477
Fluid Transfer System Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on fluid transfer system market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for fluid transfer system? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The fluid transfer system market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Fluid transfer systems encompass a comprehensive set of components essential for the movement of fluids, typically oils or fuels, from one point to another. These systems are pivotal in facilitating safe and efficient loading and offloading in various onshore and offshore scenarios. Utilizing flexible pipes, they transport substances like crude oil across intricate applications and integrate mechanisms for deploying, processing, and retrieving these pipes, often incorporating power, utility equipment, and control mechanisms. Notably, they offer advantages like abrasion and corrosion resistance, as well as weight reduction.
The primary categories of fluid transfer systems include air suspension lines, fuel lines, brake lines, AC lines, diesel particulate filter (DPF) lines, selective catalytic reduction (SCR) lines, transmission oil cooling lines, and turbo coolant lines. For instance, air suspension lines facilitate the transmission of compressed air stored in the air tank to the vehicle's individual airbags. These systems utilize diverse materials such as nylon, stainless steel, aluminum, steel, rubber, and others, catering to applications spanning automotive, aerospace, manufacturing, and various other sectors.
The fluid transfer system market research report is one of a series of new reports from The Business Research Company that provides fluid transfer system market statistics, including fluid transfer system industry global market size, regional shares, competitors with a fluid transfer system market share, detailed fluid transfer system market segments, market trends and opportunities, and any further data you may need to thrive in the fluid transfer system industry. This fluid transfer system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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%. Historical growth can be attributed to the momentum of industrialization, the progress in infrastructure development, the expansion of oil and gas exploration, the growth in manufacturing operations, and the burgeoning automotive sector.
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 anticipated growth in the forecast period is propelled by a focus on energy efficiency, prioritizing resilience and adaptability, adherence to safety and reliability standards, urbanization and construction demands, and the expansion of industrial automation. Major trends expected during this period encompass the development of customization and tailored solutions, a continued emphasis on energy efficiency, enhancing adaptability and flexibility in operations, the acceleration of digital transformation initiatives, and a sustained focus on meeting safety and compliance standards within these sectors.
The fluid transfer system market is poised for substantial growth, propelled by the robust expansion of the automotive industry. These systems, integral for gear lubrication, torque converter operation, and emission control, significantly aid automotive operations. Notably, in September 2022, new passenger car registrations in the European Union surged by 9.6% from the previous year, underscoring the direct influence of automotive industry growth on the fluid transfer system market.
Globalization of trade acts as a significant driver for the fluid transfer system market, facilitating the efficient movement of liquids and gases across international borders. This is pivotal for industries such as energy, manufacturing, and agriculture, fostering seamless global supply chains. The total global trade value reached a historic milestone of $28.5 trillion in 2021, indicating a remarkable growth of 25% from the previous year and a significant 13% increase compared to pre-COVID-19 levels in 2019. This amplification highlights the pivotal role of fluid transfer systems in enhancing global trade efficiency.
Strategic partnerships are emerging as a prominent trend within the fluid transfer system market. Leading companies are forging alliances to fortify their market positions. For instance, Contitech, in collaboration with Industrie Saleri Italo S.p.A., is developing high-performance coolant fluid management devices for the electric vehicle market. Similarly, TI Fluid Systems' partnership with Mercedes-Benz strengthens its capacity to manufacture and supply fluid transfer components to the renowned luxury vehicle manufacturer, amplifying its market presence.
Innovative solutions like digital platforms are revolutionizing the fluid transfer system market, providing a competitive edge to major companies. Fluid Genius, an artificial intelligence-driven platform introduced by Eastman, exemplifies this trend. Leveraging AI technology, Fluid Genius offers predictive insights, optimizing heat transfer fluid performance across diverse applications and industries. Such technological advancements signify a paradigm shift in enhancing operational efficiency and extending the lifespan of fluid transfer systems, fostering market growth and competitiveness.
In March 2022, Lander Automotive, a prominent UK-based manufacturer specializing in metal and plastic tube and pipe assemblies, successfully acquired Franklin Tubular Products (FTP). The financial specifics of the acquisition were not disclosed. This strategic move facilitated the expansion of Lander Automotive's global manufacturing reach, aided by the incorporation of FTP. FTP, headquartered in the US, operates as a tubing solutions manufacturer specifically catering to the fluid transfer system market. Through this acquisition, Lander Automotive strategically leverages FTP's expertise and capabilities, potentially broadening its own global manufacturing footprint. This strategic alignment signifies Lander Automotive's commitment to enhancing its position in the market and strengthening its capabilities to cater to the demands of the fluid transfer system industry on a more expansive scale.
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 Burkert GmbH & Co. KG, Antylia Scientific, The Flowserve Corporation, and ITT Inc.
Asia-Pacific was the largest region in the fluid transfer system market in 2023, and is expected to be the fastest-growing region in the forecast period. The regions covered in the fluid transfer system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the fluid transfer system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The fluid transfer system market consists of sales of air suspension lines, selective catalytic reduction lines, brake lines, turbo coolant lines, and related products. Values in this market are 'factory gate' values, that is the value of the goods sold by the manufacturers or creator of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.