Technavio, a tech-focused market research firm, has published a new report on the global CFD market in the automotive industry, which is expected to grow at a CAGR of close to 10% during the forecast period, 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global CFD market in the automotive industry into the following key regions: the Americas, APAC, and EMEA.
Source: Technavio
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Top three contributors for the global CFD market in the automotive industry are elaborated below
CFD market in the automotive industry in EMEA: The market’s growth in EMEA is attributable to the high demand for CFD from automotive industries in Germany and France. The need to comply with emission standards and regulations is spurring a rise in the adoption of CFD by automobile manufacturers, leading to the growth of the market.
According to Ishmeet Kaur, a lead analyst at Technavio, specializing in research on product lifecycle management, “Increased focus on emission control is encouraging vehicle manufacturers to develop fuel-efficient vehicles. Several players in the market space are incorporating CFD in battery designing to achieve improved efficiency.”
CFD market in the automotive industry in the Americas: The US, with its thriving automotive industry, is the dominant shareholder in the CFD market for the automotive industry in the Americas. Ford Motor, General Motors, and Fiat Chrysler Automobiles are the major companies in the US. Nanotechnology, big data, and 3-D printing are some upcoming trends in the region that are expected to reflect positively on the growth of the market in the Americas during the forecast period.
CFD market in the automotive industry in APAC: The automotive manufacturing industry in APAC is led by India, China, South Korea, and Japan. APAC is home to many automobile manufacturers in the world such as Suzuki, Honda, Yamaha, Toyota, Hyundai, Tata, Mitsubishi, Isuzu, Subaru, Mazda, and Nissan. The rise in number of electric cars, stemming from surging crude oil prices in the region will be the driving force behind the growth of the CFD market in the automotive industry in APAC over the next four years.
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The top vendors operating in the global CFD market in the automotive industry are:
- ANSYS
- Dassault Systèmes
- Mentor Graphics
- Siemens PLM Software
Other prominent vendors in the market include Altair, Applied Math Modeling, Ceetron, Convergent Science, ESI Group, Exa, FloSolve, Numeca, OpenFOAM Foundations, Simerics, and Symscape.
A more detailed analysis is available in the Technavio report titled, ‘Global CFD Market in the Automotive Industry 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global CFD Market in Aerospace and Defense Industry 2016-2020
- Global Computer-aided Engineering Market for Value-added Resellers 2016-2020
- Global CFD Market 2016-2020
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