Fluid Transfer System Market Outlook – 2030
A fluid transfer system consists of the full set of components that are needed to transfer a fluid often oil or fuel. The fluid transfer system can provide efficient and safe loading and unloading in different onshore and offshore applications. Such systems will use flexible pipelines to transport crude oil or other media to complex applications, including means for processing, deploying and recycling flexible pipelines and integrating power, control, and utility equipment. Some of the common types of the fluid air suspension lines, brake lines, AC lines, selective catalytic reduction lines and turbo coolant lines. They also have the ability to offer corrosion resistance, abrasion resistance and weight reduction. In July 2020, Cooper Standard Holdings Inc. completed the divestiture of its European rubber fluid transfer and specialty sealing businesses, as well as its Indian operations, to Mutares SE & Co. KGaA. After this divestiture, the company will operate 21 production facilities in 8 countries in Europe and 18 manufacturing facilities across China and Korea.
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Companies covered: AKWEL, Castello Italia SpA, ContiTech AG, Cooper Standard, Gates Corporation, Hutchinson SA, Kongsberg Automotive, Lander Automotive LTD, TI Fluid Systems, and Tristone Flowtech Holding SAS
COVID-19 Impact analysis
According to data from the International Monetary Fund (IMF), due to the outbreak of the novel coronavirus (COVID-19) pandemic, the global economy is expected to shrink by 3.0% in 2020. Many countries are under strict lockdown, which has forced several sectors to shut down their operations. Manufacturing units around the world have been shut down, thereby sales of vehicles have dropped, thus impacting production on a global scale. Although some OEMs have resumed production, the fluid delivery system market may see a sharp decline in 2020. Even the COVID-19 pandemic has interrupted the production of ICE cars, automakers are still focusing on the development of various fluid transfer systems. In addition, taking into account the normal state of the global automotive industry, various cooperation/supply contracts have been signed, indicating that there will be positive signals in the fluid transfer system market in the next few years.
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Top Impacting Factors
Increasing demand for lightweight vehicle parts, growing demand for luxury vehicle models, and growing adoption of SCRs in diesel engines are driving the growth of the market.
Less replacement rate of fluid transfer system is expected to hamper the growth of the market.
Stringent emission norms to mandate after treatment devices, and Growing popularity of electric vehicles can be seen as an opportunity for the market investments.
The fluid transfer system market trends are as follows:
Increasing demand for lightweight vehicle parts
Lightweight is a popular trend in the automotive industry. Increasing the use of lightweight materials to reduce the overall weight of the vehicle can help improve fuel efficiency and reduce the cost of driving the vehicle. Vehicle and component manufacturers are looking for innovative ways to reduce the weight of vehicles by using lighter materials such as aluminum. In addition, the deployment of a new production process may provide the expected results. For example, hot stamping or hydroforming methods can be used to manufacture steel parts and assemblies instead of traditional stamping. This method helps to manufacture lightweight products with equal or higher strength. In July 2019, Continental reached an agreement with Merlett Group, based in Daverio, Italy, on the purchase of its flexible hose business. With this acquisition, Continental expanded its material expertise beyond rubber, particularly with regard to high-performance thermoplastics technologies and solutions. Moreover, the use of lightweight materials such as plastic, aluminum and high-strength steel (HSS) to manufacture fluid transfer systems is expected to create profitable growth opportunities for manufacturers in the near future.
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Demand for high durability products
The increase in temperature under the hood drives the demand for corrosive fluids, such as additives for oil and coolant and biofuel mixtures. The use of these fluids can create a harsh operating environment. Materials such as nylon, rubber, and steel are used for the transfer of fluids. The failure of these materials in a vibratory and harsh environment can lead to fluid leakage. The possibility of leakages of fluid transfer sealing technologies may pose a challenge for its adoption. Various instances of possible oil leaks have forced automakers to recall vehicles in huge numbers. For instance, in July 2020, Mercedes-Benz announced that it would recall 668,954 vehicles in China for a possible oil leak, and the recall began on December 18, 2020. Thus, OEMs now demand highly durable products that can comply with the changing requirements in vehicles.
Key benefits of the report:
This study presents the analytical depiction of the fluid transfer system market along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with challenges of the fluid transfer system market.
The current market is quantitatively analyzed from 2020 to 2028 to highlight the fluid transfer system market growth scenario.
The report provides a detailed fluid transfer system market analysis based on competitive intensity and how the competition will take shape in coming years.
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Questions answered in the fluid transfer system market research report:
Which are the leading market players active in the fluid transfer system market?
What would be the detailed impact of COVID-19 on the market?
What current trends would influence the market in the next few years?
What are the driving factors, restraints, and opportunities in the fluid transfer system market?
What are the projections for the future that would help in taking further strategic steps?
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