USD 2.24 billion
Computational Fluid Dynamics (CFD) Market Size, Share, Growth Analysis, By End-User(Automotive, Aerospace & Defense, Electrical & Electronics, Industrial Machinery), By Deployment Mode(Cloud-Based Model, On-Premises Model), By Type(Software Subscription, Maintenance, Service), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45A2222 |
Region:
Global |
Published Date: September, 2024
Pages:
197
|Tables:
92
|Figures:
66
Computational Fluid Dynamics (CFD) Market Insights
CFD Market size was valued at USD 2249 million in 2022 and is poised to grow from USD 2446.46 million in 2023 to USD 4796.57 million by 2031, growing at a CAGR of 8.78% during the forecast period (2024-2031).
Computational Fluid Dynamics (CFD) serves as a critical resource for engineers and companies trying to program the behavior of fluids and gases across different environments. CFD uses mathematical equations and algorithms to analyze complex situations and problems related to fluid dynamics. CFD finds application is wide range of industries such as, aerospace, automotive, energy, and environmental engineering. Major application area of CFD involves enhancing vehicle cooling systems and optimizing airflow around aircraft wings. With advancements in computing capabilities and simulation techniques, the demand for CFD market is expected to witness significant growth, driven by the increasing demand for accurate and efficient fluid dynamics simulations.
Product development, developing prototype and testing the prototype in rear case situation before launching them is the market constitutes the major cost of development. Organizations are always on the lookout for alternatives to reduce the cost of product development and subsequently reduce the time to market. CFD helps companies with virtual testing. This reduces the cost of developing a physical prototype and testing the same in real life environment. A greater number of companies with help in advanced computing are developing a model prototype which is being virtually tested with the help of CFD. In addition, the implementation and integration of artificial intelligence (AI) and machine learning (ML) techniques into CFD software has enhanced predictive capabilities and fast-tracking simulation processes, thereby contributing to further to market growth.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Aerospace and Defense
Fastest Growth
Software Subscription
Growth Rate
8.78% CAGR
Global CFD Market ($ Bn)
Country Share for North America Region (%)
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Computational Fluid Dynamics (CFD) Market Segmental Analysis
The global CFD market is segmented into various major segments. Based on end-user, it is divided into automotive, aerospace and defense, electrical and electronics, industrial machinery, energy, material and chemical processing, others. Based on deployment model, it is divided into cloud-based model, on-premises model. Based on type the market is segmented as, software subscription, maintenance and service. Based on region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
Analysis by End-user
Based on end-user, the market is segmented into Automotive, Aerospace and Defense, Electrical and Electronics, and Industrial Machinery. The aerospace and defense segment dominates the CFD market with the largest market revenue share. Demand for CFD diagnostic is significantly high in aerospace and defense due to its extensive application of accurate and efficient stimulators. Product design and testing for the aviation industry is extremely capital intensive and has strict regulations. CFD software is used in product development and prototype testing. In addition, aviation and defense industry have rigid training requirements and the CFD software is extensively used in quality and training of new pilots and crew members in virtual environments.
The automotive end-user segment is expected to witness higher growth during the forecast period. Stric emission norms across geographies as increased the demand for fuel efficient vehicles with low emission rates. CFD software is being extensively used for analysis of the aerodynamic properties and advantages of concept cars. The growing demand for autonomous vehicles is expected to fuel the CFD software demand further during the forecast period. Automotive engineers are using CFD software for product design and optimizing automated pre-processing capabilities. Asia Pacific accounts for the largest production and consumption of passenger vehicles and hence the demand for CFD for automotive end-use is expected to witness significant demand growth.
Analysis by Deployment Model
In terms of deployment model, the CFD market is segmented into cloud-based model and on-premises Model. The on-premises model dominates the CFD market with the largest market share. The on-premises model entails the installation of CFD software within the organization's own infrastructure, thereby granting complete control over data security and customization options. This model is particularly favored by sectors that are subject to strict data privacy regulations or have specific IT needs that need software to be deployed on-site. The advantages are encouraging many businesses to incorporate CFD software in their systems. These factors are immensely contributing towards the growth of the on-premises model segment in the CFD market.
The cloud-based models are witnessing the fastest growth in the CFD market. Organizations opt for a cloud-based model, which allows access to CFD software as a service via the internet, with the software hosted on remote servers operated by third-party providers. This model offers advantages such as scalability, flexibility, and ease of access, enabling users to utilize computational resources as required without the burden of initial infrastructure costs. Its adoption is increasingly popular among organizations who are aiming to reduce IT expenditures, enhance remote collaboration, and leverage the advantages of cloud computing for simulation activities. These factors are increasing the demand for cloud-based models in the CFD market.
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Computational Fluid Dynamics (CFD) Market Regional Insights
North America is dominating the CFD market due to high end user demand and the presence of CFD developing companies. The cost of product development and testing is significantly high due to strict guidelines and the degree of competition among end users is also significantly high. Hence, many end users in the US are opting for CFD software for virtually testing computer generated prototypes. The demand for CFD is significantly high for aerospace and aviation applications. North America hosts the largest aerospace and aviation industry in the world. The US aviation industry was valued at more than 100 billion in 2022. Hence, the demand for CFD market is expected to witness strong growth in North America during the forecast period.
Demand for CFD is expected to grow the fastest in the Asia Pacific region. Improving infrastructure and economic growth coupled with increasing investment in end use industries such as automotive and renewable energy is expected to propel the demand. Increasing production of automotive industry, especially electric vehicle is expected to be the major growth driver in the region. China was the largest producer of automobiles in the world in 2022 by passing Japan. The local demand for automobiles in the region is also on the rise with developing economies such as India, Indonesia and Thailand witnessing very good demand.
Global CFD Market By Geography
- Largest
- Fastest
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Computational Fluid Dynamics (CFD) Market Dynamics
Drivers
Growing Demand for Simulation Algorithms
- Computing capabilities have improved substantially over the past decade due to the advancement of information technology and big data. With advanced computing systems, scientists and engineers can solve complex fluid dynamics. Development in solver algorism and parallel processing have enabled engineers to derive multiple design and models alternatives in less time. This has immensely boosted the demand for CFD software for its application across different industries.
High Demand for Cloud Based Solutions
- Cloud computing demand is witnessing the most substantial growth in the information technology market. Cloud-enabled CFD solutions help to address complex problems and data models by implementing systemic, cross functional and step-by-step solutions. Cloud based CFD helps in advanced stimulations and the user can access the same from any location. This is expected to propel market growth.
Restraints
High Licensing Cost
- CFD helps to lower the cost of operation for the end user. However, the one-time fixed cost associated with software licensing and procurement of associated hardware is substantially high. In addition, regular software maintenance and onboarding of skill resources also adds up to the total resource cost. This is expected to be the primary constraint restricting demand growth.
Data Privacy Concerns
- CFD software companies are facing data privacy concerns. Since the cost of on-premises software license and hardware cost is high, many software providers offer cloud-based services. Hence, making them vulnerable to data privacy concerns. End-users with higher demand for privacy owing to business competitions, safeguarding trade secrets or any other reasons are wary of using CFD solutions.
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Computational Fluid Dynamics (CFD) Market Competitive Landscape
The CFD market is experiencing a growth phase of the product lifecycle with immense scope for innovation. Hence, companies are investing substantially in R&D and technology collaboration. Companies expect a high degree of partnerships and M&A activities in the market during the forecast period. The competitive environment of the global CFD market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. While the emerging players are more focused on technology enhancement, the global players are focused more on diversified applications.
Top Player’s Company Profiles
- ANSYS (US)
- Dassault Systèmes (SIMULIA) (France)
- Siemens Digital Industries Software (Simcenter) (Germany)
- PTC (Creo) (US)
- Autodesk (Simulation) (US)
- OpenFOAM (Open-source) (N/A)
- STAR-CCM+ (US/Germany)
- COMSOL Multiphysics (Sweden)
- CD-adapco (STAR-CD, STAR-CCM+) (US/Germany)
- Altair (HyperWorks) (US)
- ESI Group (France)
- MSC Software (MSC Adams, MSC Marc) (US)
- MathWorks (MATLAB/Simulink) (US)
- Flow3D (US)
- Fluent (acquired by ANSYS) (US)
- CONVECTION (US)
- Cadence Design Systems (US)
- Synopsys (US)
- Numerica (US)
- Pointwise (US)
Recent Developments
- On January 26, 2023, Ansys Inc. unveiled their newest iteration, Ansys 2023 R1, a cutting-edge simulation software suite tailored to advance CFD simulations significantly. This latest release introduces a spectrum of enhancements aimed at elevating the precision and efficiency of fluid dynamics analysis. Engineers now have the capability, courtesy of Ansys 2023 R1, to expedite the simulation of intricate products through novel cloud-based options and optimized utilization of multiple GPUs. Moreover, this release elevates the impact of simulation by seamlessly integrating support for collaborative, model-based systems engineering (MBSE) workflows, fostering enhanced teamwork and efficiency.
- On March 2, 2020, Siemens made waves with its latest iteration of Simcenter™ STAR-CCM+™ software, integrating AI-driven functionalities to augment CFD simulations' accuracy. This update introduced automatic coupled solver control, reducing setup time while simultaneously enhancing convergence speed—an innovation poised to revolutionize the efficiency of simulations. Siemens also debuted a groundbreaking feature within the realm of CFD codes: collaborative virtual reality (VR), enabling enriched team collaboration by immersing members in simulation results.
Computational Fluid Dynamics (CFD) Key Market Trends
- Reduces Product Development Timelines: - Due to the high degree of competition, organizations are trying to reduce the development to market time for any product or service. CFD software reduces the time reduced for product development, testing, and analyzing use case scenarios thus curbing the development to market timeline. This also helps the company reduce the associated cost for development and testing of the new product before launching them on the market.
- Diversified Application:- CFD software is programmed to read complex situations and provide multiple alternative solution models. Hence, they have a wide target audience across industries with varied degree of complex situation demand. For instance, in the aerospace and automotive industries CFD helps in aerodynamic and road traffic assessment respectively while keeping track of multiple other parameters such as fuel efficiency, emission and safety factors.
Computational Fluid Dynamics (CFD) Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the global CFD market is anticipated to experience a period of moderate growth, largely driven by several essential factors. The major factors expected to drive the demand for CFD during the forecast period are the required for reduced product design time and cost coupled with a high degree of process automation. Recent advancements in CFD enable accurate predictions of flow characteristics in complex systems, including separation systems, pipeline component interactions, and heat exchangers.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 2.24 billion |
| Market size value in 2031 | USD 4.78 billion |
| Growth Rate | 8.78% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Computational Fluid Dynamics (CFD) Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Computational Fluid Dynamics (CFD) Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Computational Fluid Dynamics (CFD) Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Computational Fluid Dynamics (CFD) Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Computational Fluid Dynamics (CFD) Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Computational Fluid Dynamics (CFD) Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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