Fluid Transfer System Market

Market Leaders - Fluid Transfer System Market

The fluid transfer system market is projected to grow to USD 24.7 billion by 2025 from USD 17.8 billion in 2020, at a CAGR of 6.7% during the forecast period. The major driving factors for the fluid transfer system market are 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 global players and comprises several regional players such as 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). Major strategies include new product launches, expansions, mergers & acquisitions, partnerships, and supply contracts. to further expand their presence in fluid transfer system market. New product launches and acquisitions/partnerships/collaborations have been the most dominating strategy adopted by major players from 2018 to 2020, which helped them to innovate on their offerings and broaden their customer base.

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Contitech is one of the key players in the fluid transfer system market, owing to its  diversified product portfolio across various automotive drive by wire segments. The company has a strong geographic presence across the globe. 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. R&D expenses in the ContiTech division rose by 9.2% year-on-year in 2019, amounting to USD 0.18 billion. Continental focuses on inorganic developments such as acquisitions for strengthening its market position. For instance, in July 2019, Continental reached an agreement with Merlett Group, based in Daverio, Italy, on the purchase of its flexible hose business. With this acquisition, Continental expanded its material expertise beyond rubber, particularly with regard to high-performance thermoplastics technologies and solutions.

TI Fluid Systems  is another key player in the fluid transfer system market. TI Fluid Systems has facilities in every major automotive manufacturing market and a highly diversified customer base. The company has the largest market share in brake and fuel lines, with approximately a 32% share of the global brake and fuel line market. 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. The company adopted supply contracts as its main strategy to retain its position in fluid transfer ssyetm market. For instance, in November 2020, TI Fluid Systems (TIFS) started high-volume production of new thermal products, assemblies, and technology for the new Volkswagen ID.3 and ID.4 battery electric vehicles. The company  will also be supplying the Chassis Thermal Coolant Loop Line Assemblies that are manufactured in various materials, including lightweight engineered polymers.

Related Reports:

Fluid Transfer System Market by Type (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 and Region- Global Forecast to 2025

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Report Code
AT 7363
RI Published ON
1/28/2021
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