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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