Overview and Scope
A fluid transfer system consists of the entire group of parts required to move a fluid, frequently, oil or fuel, from one place to another. The fluid transfer system can provide effective and secure loading and offloading in many onshore and offshore applications. These systems employ flexible pipes to transport crude oil or other materials into intricate applications, together with techniques for processing, deploying, and retrieving flexible pipes, as well as integrating power, utility equipment, and control. Abrasion resistance, corrosion resistance, and weight reduction are further benefits they can provide
Sizing and Forecast
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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Segmentation & Regional Insights
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
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.
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Major Driver Impacting Market Growth
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.
Key Industry 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.
The fluid transfer system market report table of contents includes:
1. Executive Summary
2. Fluid Transfer System Market Characteristics
3. Fluid Transfer System Market Trends And Strategies
4. Fluid Transfer System Market – Macro Economic Scenario
5. Global Fluid Transfer System Market Size and Growth
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26. South America Fluid Transfer System Market
27. Brazil Fluid Transfer System Market
28. Middle East Fluid Transfer System Market n
29. Africa Fluid Transfer System Market
30. Fluid Transfer System Market Competitive Landscape And Company Profiles
Top Major Players:
- Cooper-Standard Automotive Inc
- Aakarshakti Car Decor Ltd
- TI Fluid Systems PL
- Gates Industrial Corporation PLC
- Lander Automotive Ltd
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