CFD Market Scope
CFD The analysis of fluid flows using numerical solution methods is known as computational fluid dynamics or CFD. CFD enables to solve complicated problems involving fluid-fluid, fluid-solid, or fluid-gas interactions. Many businesses utilise it to analyse, optimise, and verify the performance of designs before investing in costly prototypes and physical tests. Cavitation prevention, aeronautical engineering, HVAC engineering, electronics production, and a variety of other applications employ this technology. The advancements of technology over the years and the growing demand to reduce the developmental cycle has led to the growth of the CFD market. Although rising popularity of the open source CFD solutions may hinder the growth of the market. North America is a major market of the CFD or computational fluid dynamics.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Autodesk, Inc. (United States), Ansys, Inc. (United States), Dassault Aviation SA (France), Siemens AG (German), PTC Inc. (United States), Numeca International (Belgium), Aspen Technology, Inc. (United States), Exa Corporation (United States), ESI Group (France) and Comsol Inc. (United States) |
CAGR | % |
CFD market is a fragmented market due to the presence of various players. Companies are focusing on developing innovative products and solutions to improve quality, enhances and promotes performance, along with try to incorporate latest technology. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launch, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Autodesk, Inc. (United States), Ansys, Inc. (United States), Dassault Aviation SA (France), Siemens AG (German), PTC Inc. (United States), Numeca International (Belgium), Aspen Technology, Inc. (United States), Exa Corporation (United States), ESI Group (France) and Comsol Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Flow Science, Inc. (United States), Mentor Graphics (United States) and Bentley Systems Inc. (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global CFD market by Type and Region with country level break-up.
On the basis of geography, the market of CFD has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In 2021, Siemens AG, a Germany based multinational conglomerate specialised in electrics and industrial manufacturing has announced acquisition of Nextflow Software, which is a developer of particle-based computational fluid dynamics (CFD) solutions. This acquisition would enable Siemens to integrate Nextflow’s smooth-particle hydrodynamics technology in its own software known as Xcelerator software. Which would allow Siemens to expand its customer base and allow comprehensive solutions to its existing customers.
In 2021, Cadence Design Systems, Inc., a United States based multinational computational software company has announced signing of a definitive agreement to acquire NUMECA International, which is a Belgium based leader in computational fluid dynamics and multi physics simulation solutions. With the completion of the acquisition Cadence would be able to expand its integrated design solutions, fluid structure interaction and system analysis capabilities.
Influencing Trend:
GPU Use is rising in Popularity over Traditional CPU for CFD Applications
Market Growth Drivers:
Advancement in the Technology, Rising Demand to Reduce the Product Development Cycle and Company’s Focusing on Superior Designs to Get a Competitive Edge over Highly Competitive Market
Challenges:
Training of Professionals with the Required Skills to Operate the CFD Tools
Restraints:
Open Source CFD is a Major Limiting Factor for the Growth of the Market
Opportunities:
Lack of Cloud Based CFD Adoption Presents an Opportunity to Expand
Key Target Audience
CFD Developers and Providers, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Analysts and Strategic Business Planners and End-Use Industries