The current valuation of the fluid conveyance system market in 2022 is US$ 19.10 billion and it is projected to grow at a promising CAGR of 5.6% between 2022-2032 to reach a market size of US$ 32.93 billion.
| Attributes | Details |
|---|---|
| Market Valuation (2022) | US$19.10 Billion |
| Market Valuation (2032) | US$32.93 Billion |
| CAGR | 5.6% |
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New electric vehicle variants with battery cooling features are projected to impact the market growth for fluid conveyance systems. Since fluid conveyance systems find extensive application in ICE vehicles, the expansion of EV vehicles could deter market growth.
Instances of fluid leakage due to sealant errors in fluid conveyance systems in yet another market deterrent. The inability of sealants in fluid conveyance systems to withstand harsh conditions is an obstacle to the system’s proper functioning.
The market is witnessing an increase in demand for durable fluid conveyance system components that cater to current industry-specific demands.
There has been an increasing demand for ultra-lightweight automotive components in recent times. Market innovations to craft fluid conveyance systems with lightweight materials can increase demand for fluid conveyance systems. For instance, the latest market innovation- PlastiCool variants, help craft fluid conveyance system components that are up to 60% lighter.
By type, the high-pressure duct segment is expected to dominate the market during the forecast period.
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Due to the presence of OEMs and industrial expansion, the Asia-Pacific region is expected to witness unprecedented fluid conveyance system market growth. The developing nations of the region has been implementing strict regulations for vehicular emissions.
This is expected to increase demand for fluid conveyance systems. Expansion of the luxury automobile market is also expected to have a positive impact on fluid conveyance market growth.
The presence of industry key players in the region is projected to sustain the steady growth of the fluid conveyance market during the forecast period. There is an expansion in the tractors market in the Asia-Pacific region. The application of fluid conveyance systems in agricultural tractors is projected to drive demand in the region.
A hydraulic system employed for any particular end use is only as capable as the fluid conveyance system it comprises of Considering the amount of pressure and temperature extremes that the fluid conveyance systems experience, employing the right type of material can be the difference between years of successful operation and regular breakdowns and failures.
The most important prerequisite for any fluid conveyance system is to maintain a smooth and free flow of fluid throughout the system, along with maintaining the fluid being conveyed free of contamination.
The global fluid conveyance systems market is expected to grow steadily through the forecast period owing to the rising end-use industry activities.
The rising adoption of mechatronics- The integration of hydraulics with electronics is increasing the usage of hydraulics in mechatronic systems in various end-use industries, which in turn fuels the growth of the global fluid conveyance systems market.
Rising construction activities– Sustained infrastructure and urbanization investment in the developing economies, especially in the BRIC region, will cause a robust growth in the fluid conveyance system market during the forecast period.
High demand for minerals, particularly in the developing economies, is expected to secure growth in equipment for mining activities, comprising of excavators, trucks, drilling machines, dumpers, etc., which would in turn increase the demand for fluid conveyance system during the forecast period.
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The global fluid conveyance systems market is projected to witness a considerable growth in CAGR from 2015 to 2025. Currently, North America and Western Europe are the matured market for fluid conveyance systems providers.
However, Asia-Pacific, and MEA are expected to become lucrative regional market for key players operating in the global fluid conveyance systems market. FMI forecasts, the market in Asia-Pacific region is expected to grow at fastest CAGR over the forecast period.
Some of the major players identified in the global fluid conveyance systems market are Eaton Corporation, United Fiberglass of America, Inc., Cooper Fluids Systems, Leading Edge Hydraulics, Parker-Hannifin Corporation, Purvis Industries, Ltd., Royal Industries, Inc., Donald Engineering, Gulf Controls Company, etc.
North America
US & Canada
Latin America
Brazil, Argentina & Others
Western Europe
Eastern Europe
Asia Pacific
Japan
Middle East and Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
The global fluid conveyance systems market is broadly segmented on the basis of type, raw material, application, and region.
The market is likely to register a CAGR of 5.6% through 2032.
The market is currently valued at US$ 19.10 Bn in 2022.
The market is likely to grow to a valuation of US$ 32.93 Bn by 2032.
Asia Pacific is likely to be a leading market during the forecast period.
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Fluid Conveyance Systems Market
