Worldwide Computational Fluid Dynamics (CFD) Market is expected to be worth USD 2,447 million in 2023. Future Market Insights reports say that the market will expand at a projected to grow at CAGR of 8.78% between 2023 and 2033, totaling around USD 5,679.2 million by 2033.
Increase in the demand and application of computational fluid dynamics by a wide range of end-user verticals such as automotive, aerospace and defense, electrical and electronics, industrial machinery, energy, material and chemical processing and others, high adoption of electric vehicles and surge in industrialization in the developing countries are the major factors attributable to the growth of the computational fluid dynamics market.
Computational fluid dynamics is used to analyze and solve problems that involve fluid flows. Computational fluid dynamics is a branch of fluid mechanics that envisages the impact of the flow of fluid. Computational fluid dynamics allows the end users to simulate a product's real-world performance. Helps in detecting and rectifying the designs before the manufacturing process is initiated.
Increasing demand for electric vehicles in developed economies coupled with growth and expansion of the automobile sector in developing economies is the root cause fuelling up the computational fluid dynamics market growth rate. Growth in the demand for computational fluid dynamics by the aerospace and aeronautics industries owing to the increased expenditure on technological advancements is another factor responsible for propelling growth in the computational fluid dynamics market value.
Shifting trend of adoption of cloud-based computational fluid dynamics model will further create lucrative growth opportunities for the market. Rising industrialization coupled with the widening of the scope for the application of computational fluid dynamics will also directly and positively impact the growth rate of the market.
| Attributes | Details |
|---|---|
| Projected Forecast Value (2023) | USD 2,447 million |
| Projected Forecast Value (2033) | USD 5,679.2 million |
| Growth rate | 8.78% CAGR |
| Forecast period | 2023 to 2033 |
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Computational fluid dynamics (CFD) market grew at a CAGR of 7.69% from 2018 to 2022, as per Future Market Insights, a provider of market research and competitive intelligence.
Computational fluid codes were earlier written onto punched paper tapes at the start of any candidature and later punched cards. Getting anything done earlier was a major effort that instilled great care into your coding practices. One misplaced symbol and the entire evening were wasted as one then had to plough through a printout on sheets of green and white computer paper, find the error, punch a new card, and then position it into the deck in the correct position.
Recent reports suggest that nowadays, no one writes their own software from scratch outside of universities or research institutes undertaking fundamental research. Well-developed software packages that can now support almost every area of simulation, ranging from equation solving to system models to advanced CFD and visualization, which have thousands of man-years of development invested in them, often developed following quality control standards, and are used by the largest companies in the world.
Reduction in Product Design Time and Cost
CFD software helps improve the time to market by reducing the product development cycle and testing time and increasing the speed of the product design cycle. Usage of CFD tools yields products that are reliable and cost-effective while taking less analysis time and eliminating the need to develop multiple physical prototypes, for example, Steel Authority of India Limited (SAIL), a leading steel-making company in India, uses the ANSYS Fluent Software to reduce the cost of plant-scale experiments and testing. Such instances are expected to drive market growth during the forecast period.
Increasing Shift Toward Cloud-Based CFD
Cloud-based services create guided workflows to allow new adopters to familiarize themselves with the basic features and gain experience quickly. Cloud-based CFD can be a very tricky tool for new users, but with the help of a step-by-step approach, it is possible to guide a customer through the correct completion of an advanced CFD simulation for simple cases and these factors are expected to support the growth of the market during the forecast period.
Principal Consultant
Growing Concerns about Software and Data Privacy is One of the Factors Hampering the Computational Fluid Dynamics Market Growth.
Privacy of the CFD software is a huge concern for vendors as this creates a negative impact on the adoption of the software by end-users. Concerns over data security and privacy have been growing in the global market. Cloud-based models have been adopted to save costs, for enterprises, which have limited security control over data. Cybersecurity and issues related to software privacy might pose a critical threat to the market during the forecast period.
Shifting towards Cloud-Based Computational Fluid Dynamics
Product is only as effective as its ability to fit smoothly into its environment no matter how cleverly designed or carefully constructed, whether building a stent in healthcare, a circuit board in electronics, or a wind farm in energy applications, successful product developers have long understood that the more they understand the external factors affecting their designs, the more effective their designs will be.
Building this understanding has traditionally been limited to big-budget projects able to afford computational fluid dynamics (CFD) and finite element analysis (FEA) simulation packages running on in-house high-performance computing (HPC) hardware. Emergence of cloud-based CFD and FEA tools makes detailed simulation practical for any designer.
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North America is said to Dominate the Computational Fluid Dynamics(CFD) Market Region
North America dominated the CFD market with a market share of 33.15% and is expected to continue its dominance over the forecast period owing to the presence of bio-diverse cultures and increasing automation in the manufacturing sector. Rising concerns about greenhouse gas emissions and evolving battery technologies are anticipated to spur the North American regional market. Rapid penetration of IoT and increasing expenses for defense are a few factors influencing the North American regional market share.
Asia Pacific Computational Fluid Dynamics (CFD) Market to Gain from Burgeoning Consumption of Manufacturing Sector
Asia Pacific regional market is expected to witness exponential growth over the forecast period with a CAGR of 13.2%. Rise in the implementation of integrated CFD software that can advance the efficiency of the product progress cycles is one of the emerging trends in the Asia Pacific.
Some of the large CFD vendors have started providing integrated CFD software with several other PLM tools to improve the efficiency of product development cycles. Growth can be attributed to the rising government investments in developing the manufacturing sector and expanding the capacity of renewable energy generation. Growing automation of industrial equipment is likely to drive the industry demand.
Automotive is said to be Dominant in this Region
Automotive industry’s interest in computational fluid dynamics (CFD) applications stems from its ability to improve automotive design and to reduce product cost and cycle time where consumers can utilize CFD more and more in day-to-day automotive design, and can expect better conditions for CFD applications in the coming years. CFD applications in the automotive industry are as numerous as the codes available for the purpose.
Cloud-based Model is said to be the Dominant in this Region
Computational fluid dynamics (CFD) is widely used in manufacturing and engineering from product design to testing. CFD requires intensive computational power and typically needs high-performance computing to reduce potentially long experimentation times. Dedicated high-performance computing systems are often expensive for small-to-medium enterprises (SMEs).
Cloud computing claims to enable low-cost access to high-performance computing without the need for capital investment. Cloud-based simulation platform for manufacturing and engineering simulation platform aims to provide a flexible and easy-to-use cloud-based platform-as-a-service (PaaS) technology that can enable SMEs to realize the benefits of high-performance computing.
Some of the prominent players in the global market are-
Some of the important developments of the key players in the market are:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 8.78% from 2023 to 2033 |
| Market value in 2023 | USD 2,447 million |
| Market value in 2033 | USD 5,679.2 million |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | USD million for Value and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | By Regional, By Product, By End-user |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Rest of Latin America, Germany, United Kingdom, France, Spain, Italy, Rest of Europe, China, Japan, South Korea, Singapore, Thailand, Indonesia, Australia, New Zealand, Rest of Asia Pacific, GCC countries, South Africa, Israel, Rest of MEA |
| Key Companies Profiled | ESI Group; COMSOL; Numeca International; Ansys; EXA Corp.; Aspen Tech. |
| Customisation Scope | Available on Request |
The market is valued at USD 2,447 million in 2023.
The market is estimated to reach USD 5,679.2 million by 2033.
The market is estimated to register an 8.8% CAGR until 2033.
From 2018 to 2022, the market expanded at a 7.7% CAGR.
ESI Group, COMSOL, and Numeca International are the leading market players.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Deployment 5.1. Cloud-Based 5.2. On-Premise 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-Use 6.1. Aerospace & Defense 6.2. Automotive 6.3. Electrical & Electronics 6.4. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. South Asia 7.5. East Asia 7.6. Oceania 7.7. MEA 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Autodesk, Inc. 17.2. Dassault Systemes SE (3DS) 17.3. Cadence Design Systems, Inc. 17.4. ANSYS, Inc 17.5. Hexagon AB 17.6. Bentley Systems, Inc. 17.7. ESI Group 17.8. Backoffice Pro 17.9. ESS Engineering Software Steyr 17.10. COMSOL AB 18. Assumptions & Acronyms Used 19. Research Methodology
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Computational Fluid Dynamics (CFD) Market
