Fluid Transfer System Market

Cooper-Standard (US), Kongsberg Automotive (Switzerland) and Akwel (France) are leading players in Fluid Transfer System Market

The fluid transfer system market size is projected to grow from USD 19.1 billion in 2022 to USD 25.0 billion by 2027, at a CAGR of 5.6% for the same period. The base year for the report is 2021, and the forecast period is from 2022 to 2027.

The market is expected to witness growth due to some of the major factors such as stringent emission norms, fuel efficiency regulations, light-weighting trend and increasing adoption rate of SCRs in diesel engines around the globe.

The fluid transfer system market is dominated by major players such as Cooper-Standard (US), Kongsberg Automotive (Switzerland), Continental AG (Germany), Akwel (France), and TI Fluid Systems (UK). These companies have adopted expansion strategies; and undertaken collaborations, partnerships, and mergers & acquisitions to gain traction in the growing fluid transfer system market.

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Continental AG develops intelligent technology and services for mobility, transporting materials and processing data. The Continental AG operates its business in 5 divisions namely autonomous mobility and safety, tires, ContiTech, vehicle networking and information, and contract manufacturing. ContiTech AG is a business division of Continental AG founded in 1871. ContiTech AG has made its position among the top fluid transfer system players mainly due to its geographical presence. This helps it cater to the specific regional needs of its customers, thereby helping to tap the growing fluid transfer system market. Additionally, the company’s increased focus on R&D also gives it an added advantage over its competitors. ContiTech AG focuses on inorganic developments such as acquisition for strengthening its market position. With the acquisition of Merlett Group, the company is diversifying its product portfolio and broadening its regional presence, especially in Europe.

TI Fluid Systems is an important fluid transfer system manufacturer due to its diversified product portfolio and strategic business strategy. The company has 1,100 issued and pending patents, and thus, it continues to strengthen its position as an advanced leader in fluid systems, addressing industry trends for both fuel and electrified vehicle systems. Thus, the abovementioned factors have made it a key player in the fluid transfer system market.

Cooper Standard is one of the top fluid transfer system manufacturers. The company offers a diversified product portfolio across various automotive fluid transfer lines. The company is the third largest global producer of fluid transfer systems. The company designs and manufactures its products in every major region of the world, which gives it the advantage to cater to products as per market needs. It is a leading supplier to some major OEMs and is increasing its presence with major OEMs throughout the world. Some major OEMs are Ford, GM, FCA, Volkswagen, Daimler, etc. The company utilized joint ventures to enter into and expand in geographic markets, such as China, India, and Thailand, to acquire new customers and develop new technologies. For instance, a joint venture with Dongfeng Motor Parts and Components Group Co., Ltd. (local partner) can reduce capital investments by leveraging pre-existing infrastructure.

Kongsberg Automotive is another key player in the global fluid transfer system market. Some of its OEMs are John Deere, Hyundai, Jaguar, Volvo, etc. Its high-performance product lines enabled it to secure long-term business contracts in 2021, with existing major OEMs in the commercial vehicle segment for next-generation engine platforms. In the passenger car market segment, both for hybrid and fully electric vehicles, the company is well on track with its battery coolant lines converting from awarded business into serial production. The company’s strategy of supply contracts with OEMs is expected to strengthen its competitiveness. For instance, in March 2022, the company received a supply contract of fluid transfer systems to Tier 1 automotive supplier in North America of nearly USD 58.5 million.

Akwel is also a leading player in the global fluid transfer system market. The company’s relationships with major OEMs help it retain its position among top key players. The company also has a large geographical presence, and it helps it to cater to regional demands as per requirements. As of March 2022, Akwel has developed 39 industrial sites in 20 countries, covering five continents, 41 manufacturing sites, and seven representative sites. Akwel has steadily increased its investments in R&D. In 2021, R&D cost was 2.1% of the overall revenue. The company is also focusing on the implementation of solutions adaptable to biofuels or meeting the requirements of hybrid or electric vehicles. This business strategy is expected to help the company come up with a diversified fluid transfer product range.

Related Reports:

Fluid Transfer System Market by System (Brake, Fuel, AC, Air Suspension, DPF, SCR, Transmission Oil, Turbo Coolant, Engine & Battery Cooling, Air Brake), Material (Al, Rubber, Nylon, Steel, Stainless Steel), On & Off-Highway, EV & Region - Global Forecast to 2027

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Fluid Transfer System Market Size,  Share & Growth Report
Report Code
AT 7363
RI Published ON
9/28/2022
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