Asia-pacific is to dominate Global Automotive Fluid Transfer System Market till 2026
Growing adoption of SCR in
vehicles and high demand for passenger cars is expected to drive the demand for
global automotive fluid transfer system market in the forecast period.
According to
TechSci Research report, “Automotive Fluid Transfer System Market - Global Industry Size,
Share, Trends, Opportunity and Forecast, 2016-2026, Segmented By Vehicle Type (Passenger Car, Light
Commercial Vehicle, Medium and Heavy Commercial Vehicle, OTR) By Equipment Type
(Air Suspension Lines, Fuel Lines, Brake Lines, AC Lines, Diesel Particulate
Filter Lines, Selective Catalytic Reduction Lines, Transmission Oil Cooling
Lines, Turbo Coolant Lines, Engine Cooling Lines, Air Brake Lines) By Type
(Hoses, Tubing) By Material (Nylon, Stainless Steel, Aluminum, Steel, Rubber,
Others) By Propulsion (ICE, BEV, PHEV, FCEV) By Region”, global automotive fluid transfer system market is expected
to witness significant growth for the next five years on account of increasing
adoption for after treatment devices into the vehicles such as diesel
particulate filter lines, selective catalytic reduction lines, among others.
Diesel vehicles across the globe prefer SCR technology as it aids in more NOx
reduction than LNT. Buses and trucks of developed countries should satisfy the
permissible NOx limits and equipped with SCR technology which is considered a
major driver for fluid transfer system market. Increase in demand for
agricultural tractors due to ongoing technological development of agricultural
industry is expected to be a major driver for the market growth. Rise in the
labor cost, lower availability of skilled labor, adoption of mechanical tools
and technologies to increase the production at agriculture fields is
significantly aiding to the high demand for agricultural tractors across the
world. Implementation of technologies to upgrade the engine and downsize the
engine while increasing efficiency is boosting the demand for the forecast
period.
Due to the ongoing pandemic COVID-19, disruptions in
supply chain have been observed around the world. Decline in automobile
production due to lower availability of labor and shutdown of manufacturing in
many countries was also observed around the globe. Government guidelines to be
followed as precautionary measure for prevention purpose is expected to put moderate
impact on the automotive fluid transfer system market. After lifting of
lockdown, several organizations and production units are recovering from the
loss, thereby fueling the market for automotive fluid transfer system.
However, increasing demand for electric vehicles and
its environment benefits may create hindrance in the global automotive fluid
transfer system market growth.
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Global
automotive fluid transfer system market is segmented into vehicle type,
equipment type, type, material, propulsion, region, and company. Based on material,
market is further divided into nylon, stainless steel, aluminium, steel, rubber,
and others. Rubber segment is expected to dominate the market. Rubber hoses can
be divided into two main type namely synthetic and natural rubber. Rubber
material offers numerous advantages such as high tear strength, high
temperature sustainability and is cost-effective in nature. Rubber material is
majorly used in AC lines, brake lines, turbo coolant hoses and transmission
coolant hoses. Based on propulsion, market is categorised into ICE, BEV, PHEV, and
FCEV. BEV segment is expected to be largest segment during the predicted period
owing to attractive government policies and subsidies. Battery electric
vehicles are equipped with battery cooling lines, brake lines, air suspension
lines which is expected to bolster the market demand. Based on type, market is
bifurcated into hoses and tubing. Tubing is expected to be fastest growing
segment due to applications in turbo coolant lines, transmission oil cooling
lines, among others.
TI
Fluid Systems, Castello Italia, Gates Corporation, Kongsberg Automotive, Cooper
Standard, Contitech, Akwel, Lander Automotive, Hutchinson, Tristone are the
leading players operating in global automotive fluid transfer system market. Manufacturers
are increasingly focusing on research and development process to fuel higher
growth in the market. To meet evolving customer demand with respect to better
efficiency and durability, several automotive fluid transfer system
manufacturers are coming up with their technologically advanced offerings.
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“Increasing
preference of automobile manufacturers to lower the weight of automobiles to
lower the overall vehicle weight and increase the vehicle efficiency which
eventually reduces the cost for driving the vehicle. High-end investments to
lower the weight of automobiles by key players and invent new technologies for
advanced vehicles is fostering the market demand. Deployment of new production
process to increase the vehicle efficiency is propeling the automotive fluid
transfer system market growth until 2026” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Global
Automotive Fluid Transfer System Market By Vehicle Type (Passenger Car, Light
Commercial Vehicle, Medium and Heavy Commercial Vehicle, OTR) By Equipment Type
(Air Suspension Lines, Fuel Lines, Brake Lines, AC Lines, Diesel Particulate
Filter Lines, Selective Catalytic Reduction Lines, Transmission Oil Cooling
Lines, Turbo Coolant Lines, Engine Cooling Lines, Air Brake Lines) By Type
(Hoses, Tubing) By Material (Nylon, Stainless Steel, Aluminum, Steel, Rubber,
Others) By Propulsion (ICE, BEV, PHEV, FCEV) By Company, By Region, Forecast
& Opportunities, 2026” has evaluated the future growth potential of global automotive
fluid transfer system market and provided statistics & information on
market size, shares, structure and future market growth. The report intends to
provide cutting-edge market intelligence and help decision makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges, and opportunities in the
of global automotive fluid transfer system market.
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