during the forecast period. The major driving factors for the fluid transfer system industry are stringent emission norms, fuel efficiency regulations, growing demand of premium vehicles and increasing adoption of after-treatment devices in diesel engines around the globe.
New York, Feb. 04, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Fluid Transfer System Market by Type, Material, On & Off-Highway, EV and Region- Global Forecast to 2025" - https://www.reportlinker.com/p05817000/?utm_source=GNW
However, increasing sales of electric vehicles due to attractive government incentives is expected to impact ICE fluid transfer system market.
The automotive industry plays a crucial role in building the global economy.However, the COVID-19 outbreak disrupted the whole automotive supply chain on a global scale in the first 6–7 months of 2020.
The pandemic presented an uncertain recovery timeline for the automotive industry due to lockdown implementation and shutdown of manufacturing facilities in various parts of the world.The automotive industry faced four major challenges amid COVID-19—limited supply of vehicle parts, drop in new vehicle sales, shutdown of production facilities, and decline in working capital.
As the fluid transfer system market is dependent on vehicle production, this market is expected to be impacted due to this outbreak. However, with growing normalcy and momentum in vehicle production, the fluid transfer system market is expected to pick up pace in the coming years.
Agricultural tractors are estimated to be the largest and fastest-growing market for the off-highway vehicle segment
The factors that drive the agricultural tractor market are increasing mechanization in the agriculture industry worldwide, lack of skilled farm labor, increasing labor cost, and the growing need for operational efficiency and profitability.Subsidies and other financial support provided by regional governments on purchase of farm equipment are also boosting the fluid transfer system market for agriculture tractors.
Thus, considering the abovementioned factors, the agriculture tractor fluid transfer market is expected to grow significantly in the coming years.
Rubber is expected to be the largest material segment of the fluid transfer system market
Rubber hoses are the most commonly used types. Rubber hoses can be classified into two types, viz., synthetic rubber, and natural rubber. These are used for fuel lines, AC lines, Brake lines, turbo coolant hoses, and transmission cooling hoses. Natural rubber breaks down when exposed to oil, but synthetic rubber has much better chemical resistance, elasticity, resilience, which makes it a better alternative for natural rubber. Rubber hoses are also being increasingly used in engine cooling hoses, mainly EPDM rubber. Properties of rubber such as hot and cold temperature sustainability, high tear strength, and most importantly, lower costs are the driving forces for the growth of the rubber market in the fluid transfer system material market.
Asia Pacific is expected to be the largest market for fluid transfer system
The upcoming emission norms in Asia Pacific are the biggest driving force for the growth of fluid transfer system market.For instance, China implemented 6a & 6b, India implemented BS VI in 2020.
These norms will increase the adoption of DPF, SCR, air suspension and consequently, the market for fluid transfer system. Also, the demand for premium vehicles is likely to increase, which is expected to further strengthen the growth of fluid transfer system applications such as front and rear air conditioning.Also, the growing sales of vehicles equipped with TGDI technology, particularly in China, is expected to drive turbo coolant lines market. Thus, considering the above mentioned factors, Asia Pacific is expected to be the largest fluid transfer system market.
The breakup of primary respondents
• By Stakeholder: Supply Side- 80% and Demand Side- 20%
• By Designation: C level executives - 10%, Directors/Vice-Presidents - 20%, Others – 70%
• By Region: Europe - 20%, Asia Oceania - 60%, North America - 20%
The fluid transfer system industry is dominated by global players and comprises several regional players including Cooper Standard (US), Kongsberg (Switzerland), Contitech (Germany), Akwel (France), Hutchinson (France), Lander automotive (UK), Tristone (Germany), Castello Italia (Italy), Gates (US), and TI fluid systems (UK), Pirtek Fluid Transfer Solutions (US), AGS (US), Graco Inc. (US), Balcrank Corporation, Inc. (US), Reelcraft(US), Sanoh Industrial Co., Ltd.(Japan), Macnaught Pty Ltd.(Australia), Calex Auto Pvt. Ltd. (India), Delfingen (France) and Kros Otomotiv Sanayi ve Tic A.S. (Turkey). The study includes an in-depth competitive analysis of these key players in the fluid transfer system market with their company profiles, MnM view of the top five companies, recent developments, and key market strategies.
The study segments the fluid transfer system market and forecasts the market size based on type (air suspension lines, fuel lines, AC lines, brake lines, DPF lines, SCR lines, transmission oil cooling lines, turbo coolant lines, air brake lines, engine cooling lines and battery cooling lines), material (nylon, steel, stainless steel, aluminum, rubber, other materials), type (hose and tubing), vehicle type (passenger cars, light commercial vehicles, trucks, and buses), electric vehicles (battery electric vehicle, hybrid electric vehicle, plug-in hybrid electric vehicle), off-highway vehicles (construction equipment, mining equipment, and agriculture tractors), and region (North America, Europe, Asia Pacific, and RoW).
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the fluid transfer system market and the sub-segments.This will also help the key players to identify the highest potential region and design its product portfolio as per the market requirements.
A detailed study on electric vehicles and off-highway fluid transfer system, is expected to help manufacturers to understand the potential market for them.This report also include various analysis like supply chain, average selling price analysis,value chain analysis, market ecosystem, porter’s analysis, regulatory landscape.
This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05817000/?utm_source=GNW
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