Fluid Transfer System Market by System, Material, On & Off-Highway, EV & Region - Global For (Business Opportunities - Advertising Service)
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Fluid Transfer System Market by System, Material, On & Off-Highway, EV & Region - Global For | |
The Fluid Transfer System Market is projected to grow from USD 19.1 billion to USD 25.0 billion by 2027, at a CAGR of 5.6% during the forecast period. The growth of the fluid transfer system market is the growing demand for after-treatment devices, turbocharged engines, air suspension in commercial vehicles, and increased electric vehicle sales. The Asia Pacific is projected to lead the fluid transfer system market over the forecast period. Vehicle production has increased globally. According to OICA, vehicle production reached 80.1 million units in 2021. As the fluid transfer system market is directly dependent on vehicle production, the growing ICE vehicle production would drive the demand for fluid transfer lines for fuel, suspension, AC, brake, transmission, engine cooling, and others. Therefore, the increasing production of vehicles will drive the demand and sales of fluid transfer systems during the forecast period. “Rubber materials would be the largest fluid transfer system market segment.” Rubber hoses are commonly used in automotive applications. Rubber hoses can be classified into two types: synthetic rubber and natural rubber. Natural rubber breaks down when exposed to oil, but synthetic rubber has much better chemical resistance, elasticity, and resilience, which makes it a better alternative to natural rubber. These are used for fuel lines, AC lines, Brake lines, turbo coolant hoses, and transmission cooling hoses. Rubber hoses are also increasingly used in engine cooling hoses, mainly the EPDM rubber, due to their properties such as low electrical conductivity, steam and water resistance, and stability in high and low temperatures. Thus, the low cost of rubber and properties such as hot and cold temperature sustainability and high tear strength is expected to drive the growth of the rubber fluid transfer market. | |
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2023-02-09 (0.403 sec)