Computational Fluid Dynamics Market Global Industry Analysis and Forecast Till 2023
Computational Fluid Dynamics (CFD) envisages the impact of flow of fluid on the product throughout design, manufacturing and end usage. The CFD software’s incomparable fluid flow analysis capabilities are used to optimize new equipment and design. CFD enables end-users to simulate a product’s real-world performance by digitally prototyping its creation, allowing end-users to detect and rectify mistaken designs before the manufacturing process. It also troubleshoots existing installations. CFD can predict fluid flow, chemical reactions and mass transfer. CFD uses, various numerical methods, high-speed computers and solvers to stimulate the flow of liquids. CFD software applications are in diverse industries such as Aerospace, Automotive, Electronics and Electrical, Defense and Energy. CFD expenditure is less than experiments because physical modifications are not required.
A CFD is compelling, non-intrusive, virtual modeling technique with powerful visualization capabilities which add to its advantages. CFD market can be segmented on the basis of applications such as automotive, aerospace, defense, electronics and energy. Increasing need for the expansion of competitive and superior products is one of the main drivers of the Global CFD market in the automotive industry. CFD is used to design fuel systems, external aerodynamics, engine core compartments, cabin ventilation, submarines and missiles. CFD helps aerospace and defense industry manufacturers to reduce product development cycles.
The market prospective has steadily moved toward emerging nations such as South Korea, China, Brazil and India. The boost in outsourcing activities to emerging nations enhances the manufacturing industries. Attractiveness of open-source CFD software is the threat to the CFD market. The end-users have adopted open-source CFD software as cheaper alternatives rather than spending huge amount of money on gaining the commercial licenses. The requirement to develop finer quality products is one of the major growth drivers. A poor design creates numerous problems not only for original equipment manufacturers but also for customers and suppliers. One of the main challenges in the Global CFD market in the Defense and Aerospace industry is the lack of adoption of cloud-based solutions. Though a few vendors are offering the cloud-based model, numerous end-users are unwilling to adopt it.
North America and Europe is expected to acquire the largest share in the Global CFD market. The Asia-Pacific region is one of the rapid growing geography in the Global market due to the boom of manufacturing sector in the region. One of the emerging trends in the Asia-Pacific market is the growing implementation of integrated CFD software that can advance the efficiency of product progress cycles. Some of the large CFD vendors and product lifecycle management have started providing integrated CFD software with several other PLM tools to improve both the efficiency of product development cycles.
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Some of the Global players in the CFD market are ESI Group, COMSOL, Numeca International, Ansys, EXA Corp. and Aspen Tech. among others. At present, a few companies have a considerable presence in the global CFD market due to the commercialization of their products. Due to the technological capabilities, many companies in CFD market are either being approached for acquisition by larger corporations or being acquired.