Computational Fluid Dynamics (CFD) Market - Global Industry Analysis, Size, Share

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Computational Fluid Dynamics (CFD): Introduction

• Computational Fluid Dynamics (CFD) envisages the impact of flow of fluid on the product throughout design, manufacturing, and end usage. The CFD software's 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 is used in diverse industries such as aerospace, automotive, electrical & electronics, defense, and energy.
• CFD is compelling, non-intrusive, virtual modeling technique with powerful visualization capabilities. This adds to its advantages.

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Key Drivers and Restraints of Computational Fluid Dynamics (CFD) Market

• Increase in need for competitive and superior products in the automotive industry is one of the major drivers of the global CFD market. CFD is used to design fuel systems, external aerodynamics, engine core compartments, cabin ventilation, submarines, and missiles. CFD helps aerospace and defense industry manufacturers lower product development cycles.
• The market prospective has steadily moved toward emerging countries such as South Korea, China, Brazil, and India. Rise in outsourcing activities to emerging countries is boosting the manufacturing industry in these countries.
• End-users have adopted open-source CFD software as cheaper alternative rather than spending significantly in acquiring commercial licenses
•  The requirement to develop finer quality products is one of the major drivers of the global market
• A poor design creates numerous issues not only for original equipment manufacturers but also for customers and suppliers
• Attractiveness of open-source CFD software is the threat to the CFD market
• Lack of adoption of cloud-based solutions in defense and aerospace industries is one of the key challenges facing the global CFD market. A few vendors offer the cloud-based model; however, many end-users are unwilling to adopt it.

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Computational Fluid Dynamics (CFD) Market: Segments

• The global CFD market can be segmented based on deployment model, end-user, and region
• In terms of deployment model, the global CFD market can be bifurcated into on-premises model and cloud-based model
• Based on end-user, the global CFD market can be classified into automotive, aerospace, defense, electronics, and energy

COVID-19 Impact on Computational Fluid Dynamics (CFD) Market

• Emergence of the new COVID strain in many developed and developing countries has adversely affected the health care infrastructure. Hospital staff, medicines, oxygen beds, and ventilators are in short supply. Supply chains are facing disruptions, leading to disturbances in production activities in many countries. This is adversely affecting the global CFD market.
• On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 213 countries and territories around the world.

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North America and Europe to Dominate Computational Fluid Dynamics (CFD) Market

• In terms of geography, the global CFD market can be segmented into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa
• North America and Europe are expected to account for major share of the global CFD market during the forecast period
•  Asia Pacific is one of the rapidly growing regions of the global market due to the expansion of the manufacturing sector in the region. Rise in implementation of integrated CFD software that can advance the efficiency of product progress cycles is one of the emerging trends of the market in Asia Pacific. Some of the large CFD vendors have started providing integrated CFD software with several other PLM tools to improve the efficiency of product development cycles.
• The CFD market in Middle East & Africa is estimated to expand at a sluggish pace during the forecast period

Key Manufacturers Operating in Global Computational Fluid Dynamics (CFD) Market

• The global CFD market was consolidated in 2020. Major players have prominent presence in developed and developing countries. key manufacturers operating in the global CFD market include:
  • ESI Group
  • COMSOL
  • Numeca International
  • Ansys
  • EXA Corp.
  • Aspen Tech.

Companies in the Computational Fluid Dynamics (CFD) market have increasingly shifted gears with wide application of digital technology across the continuum, from raw material sourcing to manufacturing to generation of final output, to warehousing to final distribution operations. Among the various affects, the market is witnessing new growth economics due to thinning of line between specialty and commodity businesses that are associated with the larger ecosystem. At the same time, new growth parameters are being vigorously being debated as industry stakeholders put greater emphasis on the circular economy processes.

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