The global automotive fluid transfer system market is expected to experience significant growth over the next five years, according to a TechSci Research report titled "Automotive Fluid Transfer System Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2018-2028." The market is segmented by vehicle type (passenger car, light commercial vehicle, medium and heavy commercial vehicle, OTR), 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), type (hoses, tubing), material (nylon, stainless steel, aluminum, steel, rubber, others), and propulsion (ICE, BEV, PHEV, FCEV) by region.
The report suggests that the increasing adoption of after treatment devices in vehicles, such as diesel particulate filter lines and selective catalytic reduction lines, will be a major driver for the market. SCR technology is preferred by diesel vehicles worldwide because it aids in more NOx reduction than LNT. Developed countries' buses and trucks must comply with permissible NOx limits and be equipped with SCR technology, which is considered a significant driver for the fluid transfer system market. Additionally, ongoing technological development of the agricultural industry and the resultant increase in demand for agricultural tractors are expected to be major drivers for market growth. The market is also being boosted by the implementation of technologies to upgrade and downsize engines while increasing efficiency.
However, due to the ongoing COVID-19 pandemic, disruptions in the supply chain have been observed worldwide, resulting in a decline in automobile production and shutdowns of manufacturing facilities in many countries. Government guidelines for prevention purposes are expected to have a moderate impact on the automotive fluid transfer system market, but several organizations and production units are recovering from the loss after the lifting of lockdown, thereby fueling the market for automotive fluid transfer systems.
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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The global automotive fluid transfer system market is segmented by vehicle type, equipment type, type, material, propulsion, region, and company. The market is further divided based on material into nylon, stainless steel, aluminum, steel, rubber, and others. The rubber segment is expected to dominate the market, with rubber hoses being divided into two main types: synthetic and natural rubber. The rubber material offers several advantages such as high tear strength, high temperature sustainability, and is cost-effective in nature. It is majorly used in AC lines, brake lines, turbo coolant hoses, and transmission coolant hoses. The market is categorized based on propulsion into ICE, BEV, PHEV, and FCEV. The BEV segment is expected to be the largest segment during the predicted period due to attractive government policies and subsidies. Battery electric vehicles are equipped with battery cooling lines, brake lines, and air suspension lines, which is expected to bolster the market demand. The market is bifurcated based on type into hoses and tubing. The tubing segment is expected to be the fastest-growing segment due to its applications in turbo coolant lines, transmission oil cooling lines, and 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 2028” 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, 2028” 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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