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Fluid Transfer System Market Size Forecasted to Reach Valuation of USD 28.48 Billion in 2028

Fluid Transfer System Market Size

The global fluid transfer system market size is expected to reach USD 28.48 billion in 2028 and register a CAGR of 6.2% during the forecast period. Escalating demand for premium vehicles, implementation of stringent regulations concerned with fuel emissions and tailpipe exhaust, and strict norms regarding emissions and levels of CO2 are some key factors driving revenue growth of the market.

Fluid transfer systems are majorly used in manufacturing, automotive, shipping, and aerospace sectors. The systems are integrated into engines, but can also be employed independently. Hoses, valves, pipes, and accessory loading equipment are some of the common components of a fluid transfer system. These systems are often deployed in automobiles for fuel injection, engine cooling, and air conditioning. Increasing incorporation of Selective Catalytic Reduction (SCR) in diesel engines and a sharp rise in production and demand of vehicles are some other key factors driving market growth. Increasing focus on manufacturing of lightweight vehicles in the automotive industry is expected to generate lucrative growth opportunities for key players operating in the market. Usage of light materials results in drastic reduction in overall weight of vehicles while boosting fuel efficiency. Increasing demand for lighter materials such as high-strength steel, aluminum, and plastics in manufacturing fuel transfer systems, and prevalent trend of electric vehicles are expected to drive market growth going ahead.

Fluid transfer systems also confer abrasion resistance, corrosion resistance, and reduction in weight of these systems and these factors have increased the adoption of these products, specifically in the oil & gas industry. In the oil & gas industry, fluid transfer systems are often used to move or transfer oil from offshore drilling rigs to oil tankers and ships and to oil refineries for processing. This is expected to further drive market growth during the forecast period.

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Some Key Highlights in the Report:

  • Selective Catalytic Reduction (SCR) is a cost-efficient and fuel-efficient technology deployed to reduce fuel emissions from diesel engines. Heavy-duty trucks manufactured after January 1, 2020, are required to conform to the emission standards set by the Environmental Protection Agency (EPA). The set standard is robust and strict and is majorly aimed at reducing levels of nitrogen oxide (NOx) and particulate matter to near-zero levels.
  • Rubber hoses are most commonly used for fluid transfer and are designed for specific fluid, temperature, and pressure ranges. They are also available in a variety of specifications. Rubber hoses have higher resistance against erosion as compared to steel pipes in particular applications.
  • North America accounted for a significantly large revenue share in the global market in 2020. This can be attributed to increasing research and development activities of advanced fluid transfer systems in the region and robust presence of prominent market players such as Gates Corporation and Cooper Standard.
  • Major companies in the market include Contitech, Cooper Standard, Lander Automotive, Akwel, Gates Corporation, Hutchinson, Tristone, TI Fluid Systems, Castello Italio, and Kongsberg Automotive.
  • In May 2020, Puck Enterprises, which is a prominent producer of liquid transfer equipment, acquired Coupling & Accessories, Inc., which is a U.S-based producer of hose connections and fittings. Under the acquisition, Puck Enterprises will develop innovative solutions and offer a state-of-the-art product line to its customers in the liquid transfer industry. The acquisition also offers Puck Enterprises and its subsidiary, BullDog Hose Company, a higher level of control over their product portfolio.

For the purpose of this report, Emergen Research has segmented the global fluid transfer system on the basis of equipment type, type, application, material, and region:

Equipment Type Outlook (Revenue, USD Billion; 2018–2028)

  • AC lines
  • Air suspension lines
  • SCR lines
  • Brake lines
  • DPF lines
  • Fuel lines
  • Turbo coolant lines
  • Transmission oil cooling lines

Type Outlook (Revenue, USD Billion; 2018–2028)

  • Hoses
  • Tubing

Application Outlook (Revenue, USD Billion; 2018–2028)

  • Automotive
    • Battery Electric Vehicle (BEV)
    • Plug-in Hybrid Electric Vehicle (PHEV)
    • Mild Hybrid Vehicles
  • Aerospace
  • Manufacturing
  • Others

Material Outlook (Revenue, USD Billion; 2018–2028)

  • Aluminum
  • Stainless Steel
  • Rubber
  • Nylon
  • Steel
  • Others

Regional Outlook (Revenue, USD Billion; 2018–2028)

  • North America
    • u.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • u.K.
    • France
    • Italy
    • Spain
    • BENELUX
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • u.A.E.
    • Israel
    • Rest of MEA

To get leading market solutions, visit the link below: https://www.emergenresearch.com/industry-report/fluid-transfer-system-market

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