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The Asia Pacific (APAC) - computational fluid dynamics (CFD) market size is estimated to grow by USD 291.19 million at a CAGR of 9.05% between 2022 and 2027. The market experiences significant expansion, driven by key factors such as the burgeoning smartphone industry, escalating mergers and acquisitions, and decreasing product design time and cost. CFD, an engineering and physics discipline, employs numerical techniques and computer simulations to tackle complex issues surrounding fluid flow and heat transfer. Its applications span various industries, including aerospace, automotive, and marine, where it plays a pivotal role in optimizing vehicle aerodynamics. Engineers leverage CFD simulations to minimize drag, boost fuel efficiency, and enhance overall performance, thereby contributing to the market's continued growth.
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The Computational Fluid Dynamics (CFD) market is pivotal across industries like aeronautics, electric vehicles, and aerospace and defense, where it supports cost-effective designs and innovation. Utilizing advanced software packages and sustainable practices, CFD plays a crucial role in chemical processing and physical testing, enabling experimentation for biotechnology and healthcare sectors. With applications in artificial intelligence and electrical and electronics, CFD facilitates sustainability efforts by optimizing service offerings and enhancing material efficiency. It aids in optimizing aerospace and defense technologies, ensuring sustainable and efficient solutions. The CFD market continues to expand, driven by its ability to simulate and analyze fluid dynamics, thereby advancing technological advancements and improving overall operational efficiencies.
Increasing M&A is the key factor driving the growth of the market. Competition among existing Asia Pacific (APAC) - computational fluid dynamics (CFD) market players is fierce. As a result, Asia Pacific - computational fluid dynamics (CFD) market players are opting for strategic partnerships and acquisitions with market players such as software providers, technology providers, and platform providers. Strategic partnerships and acquisitions help market players to develop products, expand geographically, and access technological expertise.
Additionally, collaboration also allows market players to investigate new opportunities for their products and services, and generate revenue through selling their products and services to multiple customers. For example, in March 2020, Red Bull renewed its partnership with ANSYS for three years. Therefore, the increasing number of strategic partnerships and acquisitions among market players and participants is expected to drive market growth during the market forecasting period.
The use of CFD to develop IoT devices is the primary trend shaping the growth of the market. IoT includes hardware devices, implanted software, communication services, and IT services. It helps create smart communication environments such as smart homes, smart transportation, smart shopping, and smart health care. With the advancement of IoT and the expansion of network interfaces, smart machines can monitor and control various objects using microcontrollers over the Internet.
Furthermore, the adoption of simulation software for developing smart connected devices is high in the global IoT market. The market players such as ANSYS provide comprehensive simulation suites for developing high-performance computing systems and devices. The adoption of simulation software such as CFD will translate to the development of IoT-enabled devices, thereby driving market growth during the market growth and forecasting period.
The threat of open-source CFD software is a challenge that affects the growth of the market. Many small and medium-sized enterprises with lower revenues prefer open-source CFD solutions over commercial CFD solutions due to cost advantages and budget constraints. Additionally, open-source CFD providers offer end-user support at a much lower cost than commercial providers because they have active communities and user bases, gathering ideas and reports.
Moreover, such factors have driven increased adoption of open-source CFD solutions in Asian countries such as India and China, hindering the growth of commercial CFD providers. Thus, such factors my impede the growth of the market during the market research and growth period.
The market share growth by the automotive industry segment will be significant during the forecast period. APAC is home to many automakers and their R&D centers. CFD software is widely used in the design and production of automotive parts and components. Mahindra and Mahindra is a leading automobile manufacturer headquartered in Mumbai, India.
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The automotive industry segment showed a gradual increase in the market share of USD 119.49 million in 2017. Subros is an Indian limited liability joint venture owned by the Suri family, Denso and Suzuki Motor. It focuses on manufacturing thermal products for automotive applications. The company uses HyperWorks Suite, including AcuSolve, as its primary CAE solution. AcuSolve, CFD software, was used to solve the problem of airflow analysis for heating, ventilation, and air conditioning (HVAC) systems. Thus, such factors will drive the growth of the APAC - computational fluid dynamics (CFD) market during the market forecast period.
Cloud-based CFD allows users to climb their computing resources up or down based on the complexity and scale of their simulation. Cloud-based CFD solutions can be accessed from anywhere with an internet connection. This flexibility is especially important for organizations with distributed teams or individuals who need to collaborate remotely on CFD projects. With the growing demand for CFD simulation in industries such as automotive, aerospace, energy, and environmental engineering, the demand for cloud-based CFD solutions is expected to increase in response. Therefore, the growing adoption of cloud-based CFD solutions will have a positive impact on the APAC - computational fluid dynamics (CFD) market growth during the market growth analysis period.
The APAC Computational Fluid Dynamics (CFD) Market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
APAC Computational Fluid Dynamics (CFD) Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD million" for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments
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The market plays a critical role in diverse sectors such as automotive manufacturing, energy sector, and renewable energy, facilitating product development cycles and reducing testing time through integrated CFD and virtual prototypes. It supports greenhouse gas reduction efforts and advancements in battery technologies, contributing to sustainability projects and minimizing carbon footprints and environmental issues. With increasing stringent regulations and emphasis on environmental footprint, CFD leverages cloud computing and HPC clusters for enhanced computing technology, ensuring scalability and versatility across on-premises infrastructure. It enables operational excellence and meets compliance requirements while facilitating remote collaboration in manufacturing and engineering sectors, thereby driving innovation and efficiency in deployment models. Key players like Tau Flow Engenharia and VirtusAero exemplify its impact on industry advancements.
APAC Computational Fluid Dynamics (CFD) Market Scope |
|
Report Coverage |
Details |
Page number |
163 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.05% |
Market growth 2023-2027 |
USD 291.19 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) | 8.61 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Altair Engineering Inc., ANSYS Inc., Autodesk Inc., Cadence Design Systems Inc., COMSOL AB, Convergent Science Inc., CPFD Software LLC, Dassault Systemes SE, ESI Group SA, Fluidyn Group, Hexagon AB, HitechDigital Solutions LLP, Mechartes Researchers Pvt. Ltd., PTC Inc., Siemens AG, Synopsys Inc., The MathWorks Inc., and ZeusNumerix Pvt. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Deployment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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