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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 industry are stringent emission norms, fuel efficiency regulations, growing demand for premium vehicles and increasing adoption of after-treatment devices in diesel engines around the globe. However, increasing sales of electric vehicles due to attractive government incentives are expected to impact ICE fluid transfer system market.
The automotive industry plays a crucial role in building the global economy. However, the COVID-19 outbreak disrupted the whole automotive supply chain on a global scale in the first 6-7 months of 2020. The pandemic presented an uncertain recovery timeline for the automotive industry due to lockdown implementation and shutdown
Fluid Transfer System Market worth $24.7 billion by 2025 - Exclusive Report by MarketsandMarkets 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 , published by MarketsandMarkets, the Fluid Transfer System Market is projected to grow at a CAGR of 6.7% from 2020 to 2025, and the market size is expected to grow from USD 17.8 billion in 2020 to USD 24.7 billion by 2025. Stringency in emission norms and demand for enhanced fuel economy are projected to drive the Fluid Transfer System Market.
AC lines segment will hold the largest share of the Fluid Transfer System Market
Increase in superior cabin experience has propelled to ever-increasing the growth of the AC lines market. Today, almost all the vehicles that are manufactured are equipped with an air conditioning system. Thus, there is tough competition between automakers to provide enhanced comfort. This competition has increased pressure on OEMs to deliver technologically advanced automotive air conditioning systems. Also, the increasing popularity of premium vehicles, has driven the adoption of rear AC system. Thus, the increasing demand for rear air conditioning has also driven the growth of AC lines and is expected to grow further in coming years.
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but as i already mentioned, the state of ukraine and ukrainian people will execute its duty and defend our country. meanwhile, more tough talk about russia coming from the former ukraine prime minister. she said sewed vladimir putin is enemy number one for ukraine. she said that at the kickoff for her run for the presidency. finally a toppling of the pro-moscow government here. new presidential elections are planned for may. derailing this move towards democracy could be another motivation behind a possible russian attack. all this raising the stakes for that meeting planned for tomorrow in paris regarding ukraine between secretary of state kerry and russian foreign minister. gregg? greg, thanks. general motors announcing it will recall another 1.6 million vehicles, including nearly 1 million for ignition problems and almost half a million for possible transmission oil leaks