Dublin, Oct. 18, 2022 (GLOBE NEWSWIRE) -- The "Fluid Transfer System Market by System (Brake, Fuel, AC, Air Suspension, DPF, SCR, Transmission Oil, Turbo Coolant, Engine & Battery Cooling, Air Brake), Material (Al, Rubber, Nylon, Steel, Stainless Steel), On & Off-Highway, EV & Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The fluid transfer system market is projected to grow from USD 19.1 billion to USD 25.0 billion by 2027, at a CAGR of 5.6% during the forecast period. The growth of the fluid transfer system market is the growing demand for after-treatment devices, turbocharged engines, air suspension in commercial vehicles, and increased electric vehicle sales. The Asia Pacific is projected to lead the fluid transfer system market over the forecast period.
Rubber materials would be the largest fluid transfer system market segment.
Rubber hoses are commonly used in automotive applications. Rubber hoses can be classified into two types: synthetic rubber and natural rubber. Natural rubber breaks down when exposed to oil, but synthetic rubber has much better chemical resistance, elasticity, and resilience, which makes it a better alternative to natural rubber. These are used for fuel lines, AC lines, Brake lines, turbo coolant hoses, and transmission cooling hoses. Rubber hoses are also increasingly used in engine cooling hoses, mainly the EPDM rubber, due to their properties such as low electrical conductivity, steam and water resistance, and stability in high and low temperatures. Thus, the low cost of rubber and properties such as hot and cold temperature sustainability and high tear strength is expected to drive the growth of the rubber fluid transfer market.
Agricultural tractors are predicted to be the largest-growing market for the off-highway vehicles segment.
Agricultural tractors are predicted to be the largest-growing market for fluid transfer systems during the forecast period. This growth is due to increasing mechanization in the agriculture industry globally, a lack of skilled farm labor, increasing labor cost, and the growing need for operational efficiency and profitability. According to analysis, the global agricultural tractors market demand was valued at nearly 2.8 million units in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 6.8% from 2022 to 2030. Also, regional governments' subsidies and other financial support for purchasing farm equipment are boosting the fluid transfer system market for agriculture tractors.
The fluid transfer systems used in agricultural tractors are hydraulic lines, brake lines, DPF lines, fuel lines, SCR lines, transmission oil cooling lines, turbo coolant lines, and engine cooling lines. Agricultural tractors will have to deal with reduced emission limits in the upcoming emission regulations and hence the demand for aftreatment devices would rise creating an opportunity for the growth of the fluid transfer lines like DPF and SCR lines in the off-highway vehicles. Thus, considering the abovementioned factors, the agriculture tractor fluid transfer market is expected to grow significantly during the forecast period.
Market Dynamics
Drivers
- Growing Stringency in Tailpipe Emission Limits
- Updated Engine Technologies and Engine Downsizing
- Stringent Emission Norms to Mandate After-Treatment Devices
- Increasing Vehicle Production
Restraints
- Rising Popularity of Electric Vehicles May Impact Market for Ice Vehicles
Opportunities
- Growing Vehicle Electrification/Alternate Fuel Vehicles to Create New Revenue Pockets
- Surging Demand for Lightweight Vehicle Parts
Challenges
- Demand for High-Durability Products
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Recommendations
7 Fluid Transfer System Market, by System
8 Fluid Transfer System Market, by Type
9 Fluid Transfer System Market, by Material
10 Fluid Transfer System Market, by On-Highway Vehicle
11 Fluid Transfer System Market, by Electric & Hybrid Vehicle
12 Fluid Transfer System Market, by Off-Highway Vehicle
13 Fluid Transfer System Market, by Region
14 Competitive Landscape
15 Company Profiles
16 Appendix
Companies Mentioned
- Accurate Products
- Ags Automotive Solutions
- Akwel
- Balcrank Corporation, Inc.
- Calex Auto Pvt. Ltd.
- Castello Italia
- Continental Ag
- Cooper Standard
- Delfingen
- Gates Corporation
- Graco Inc.
- Hutchinson
- Kongsberg Automotive
- Kros Otomotiv Sanayi Ve Tic A.S.
- Lander Tubular Products
- Macnaught Pty Ltd
- Newage Industries
- Parker Hannifin Corp
- Pirtek Fluid Transfer Solutions
- Reelcraft Industries
- Sanden Vikas (India) Ltd.
- Sanoh Industrial Co. Ltd.
- SIC
- TI Fluid Systems
- Tristone
For more information about this report visit https://www.researchandmarkets.com/r/wvgz8s
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
