Computational Fluid Dynamics Market Growth Accelerated by Increasing Applications in Automotive Industry

 

Computational fluid dynamics (CFD) refers to the use of applied mathematics, physics and computational software to digitally simulate the behavior of systems involving fluid flows. CFD finds applications in various industries like automotive, aerospace & defense, and industrial equipment among others to optimize product designs and reduce physical prototyping. Growing demand from automakers to enhance vehicle aerodynamics, improve engine combustion efficiency and ensure passenger safety has significantly promoted adoption of CFD technologies.

The global Computational Fluid Dynamics market is estimated to be valued at US$ 2477 Mn in 2023 and is expected to exhibit a CAGR of 21% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
High computational power demand driven by complex simulations is one of the key trends driving growth of the CFD market. As product designs get more sophisticated, there is growing need to analyze intricate fluid flow patterns occurring under diverse conditions. This necessitates use of powerful computing clusters and parallel processing capabilities to perform trillion cell simulations within reasonable timeframes. Leading CFD vendors are investing heavily in developing supercomputers as well as algorithms to optimize code performance on emerging processor architectures. Increasing standardization of simulation processes and enhanced user experiences through intuitive interfaces is also promoting wider adoption of CFD technologies across various industries.

Segment Analysis
The global computational fluid dynamics market is dominated by the automotive and aerospace sub segment. This is because computational fluid dynamics tools help automotive and aerospace manufacturers in designing vehicles and aircraft with maximum fuel efficiency. It provides simulation of how air flows over the vehicles and helps optimize aerodynamics. This leads to cost savings and better performance.

Key Takeaways
The Global Computational Fluid Dynamics Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The global Computational Fluid Dynamics market is estimated to be valued at US$ 2477 Mn in 2023 and is expected to exhibit a CAGR of 21% over the forecast period 2023 to 2030.

North America is currently the dominant regional market due to presence of major automotive and aerospace companies. However, Asia Pacific region is expected to grow at fastest pace owing to increasing vehicle production, developing aerospace industry and growing adoption of simulation tools by manufacturing companies in countries like China and India.

Key players operating in the computational fluid dynamics market are AVL, Cummins, Inc, Johnson Matthey Battery Systems, L&T Technology Services, Merlin Equipment Ltd., Navitas System, LLC, Nuvation Engineering, The Ventec Company, Toshiba Corporation, TWS (Technology with Spirit), Vecture Inc. The market is competitive with major players focusing on new product development and partnerships with automotive and aerospace OEMs to gain market share.

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