Fluid Transfer System Market Worth $29.6 Billion by 2027 - Exclusive Report by MarketsandMarkets™

CHICAGO, Sept. 24, 2019 /PRNewswire/ -- According to the new market research report  "Fluid Transfer System Market by Type (Brake, Fuel, AC, Air Suspension, DPF, SCR, Transmission Oil, Turbo Coolant), Material (Al, Rubber, Nylon, Steel, Stainless Steel), Vehicle Type (PC, LCV, HCV, OHV, BEV, HEV, PHEV) and Region - Global Forecast to 2027", published by MarketsandMarkets™, the Fluid Transfer System Market is projected to grow at a CAGR of 6.8% from 2019 to 2027, and the market size is expected to grow from USD 17.5 billion in 2019 to USD 29.6 billion by 2027.

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AC lines segment will hold the largest share of the Fluid Transfer System Market

Air conditioning (AC) lines are employed to circulate the refrigerant between the evaporator and the condenser in the cooling system. The refrigerant absorbs heat by evaporation in the evaporator; then it gives up the heat when vapors are condensed in the condenser. Increase in superior cabin experience has propelled to ever-increasing the growth of the AC lines market. Lack of greenery, rising global temperatures, changing lifestyles, rapid industrialization leading to increased pollution levels, advanced cooling technologies to filter the air within the vehicles, to prevent airborne diseases have resulted in employing AC systems in automobiles propelling the market during the forecast period.

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Truck is the fastest-growing segment for fluid transfer system as it is witnessing increasing usage of SCR and DPF

Trucks are heavy vehicles mainly used for goods transportation. The major factors for the growth of truck production are increasing industrialization, growing logistics activities, and expanding eCommerce business. In trucks, there is high volume fluid transfer as compared to light-duty vehicles which imply that the lines used in trucks are longer than passenger cars and light commercial vehicles. That is why the number of lines used in a truck is more than that of other light-duty vehicles. Alternatively, the upcoming regulations expected to get deployed in the coming years would drive the demand for the turbocharger, DPF, and SCR lines in heavy trucks.

Asia Pacific is estimated to be the largest geographical segment of the Fluid Transfer System Market

The upcoming emission norms in Asia Pacific are the most prominent driving forces for the Fluid Transfer System Market. In the Asia Pacific region, the European and American standards are followed, except in Japan, as it has its emission norms. It is estimated to have a 100% adoption rate of DPF by 2021 for all vehicle types. The SCR adoption rate is expected to be 100% by 2021 for buses and trucks, and by 2025 for passenger cars and LCVs. These norms will increase the adoption of DPF, SCR, air suspension, turbocharger lines, and hence the market for fluid transfer system.

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The Fluid Transfer System Market is dominated by global players and comprises several regional players as well. The key players in the Fluid Transfer System Market are 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).

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