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Fluid Transfer System Market is set for a Rapid Growth and is Expected to Reach USD 28.01 Billion by 2026

iCrowdNewswire   Oct 5, 202010:00 AM ET

Zion Market Research has published a new report titled “Fluid Transfer System by Type (Brake, Fuel, AC, Air Suspension, DPF, SCR, Transmission Oil, and Turbo Coolant), by Material (Al, Rubber, Nylon, Steel, and Stainless Steel), and by Vehicle Type (PC, LCV, HCV, OHV, BEV, HEV, and PHEV) Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2026.”According to the report, the fluid transfer system market accounted for USD 16.4 Billion in 2018 and is expected to reach USD 28.01 Billion by 2026, growing at a CAGR of around 6.5% between 2019 and 2026.

Global Fluid Transfer System Market

The global fluid transfer system market is anticipated to observe significant growth over the years. It’s a set of components required for fluid transfer, mostly oil or fuel. These systems are widely used for aerospace and automotive industries and vary depending upon the setting they are required for. The ability of fluid transfer systems to offer safe & efficient offloading & loading in different applications is the major reason for its increased demand in many industries. This is also anticipated to propel the growth of fluid transfer systems in the forecast period. Fuel efficiency regulations and stringent emission norms are one of the major driving factors for the fluid transfer system. In the last two decades, increased vehicle production has also boosted the overall market for the fluid transfer system.

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Based on type the fluid transfer systems market is segmented into the brake, fuel, AC, air suspension, DPF, SCR, transmission oil, and turbo coolant. SCR lines are expected to have the fastest growth during the forecast period. Rising demand for the SCRs is mainly due to passenger cars and LCVs with more than 2-liter engine capacity are rapidly getting equipped with SCRs. They emit more NOx as compared to engines with smaller capacities; hence the developing countries have deployed stringent emission norms which have significantly increased the demand for the SCRs.

Based on material the fluid transfer systems market is segmented into Al, rubber, nylon, steel, and stainless steel. Aluminum is expected to register the fastest growth in the fluid transfer system material market during the forecast period. It possesses properties like withstanding hot temperatures, maintains shape when flexed, which sets it apart from most plastic ducting. The increased ability of the metal to be recycled and reused have propelled the market for aluminum.

In terms of vehicle type, the fluid transfer system market is segmented into PC, LCV, HCV, OHV, BEV, HEV, and PHEV. Hybrid electric vehicles are the largest segment un the fluid transfer market. They are premium vehicles, therefore, they are equipped with advanced systems such as motor assist, automatic start/stop etc.  AC lines, air suspension lines, and fuel lines etc. are used in HEVs because of the presence of a combustion propulsion system.

Some key players in operating in the fluid transfer system market are Cooper Standard, Kongsberg, Contitech, Akwel, Hutchinson, Lander automotive, Tristone, Castello Italia, Gates, and TI fluid systems.

This report segments the global fluid transfer systems market as follows:

Global Fluid Transfer Systems Market: Type Segment Analysis

Global Fluid Transfer Systems Market: Material Segment Analysis

Global Fluid Transfer Systems Market: Vehicle Type Segment Analysis

Global Fluid Transfer Systems Market: Regional Segment Analysis

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Keywords:    Fluid Transfer System Market

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