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The global computational fluid dynamics (CFD) market reached a value of US$ 1,930 Million in 2020. Computational fluid dynamics (CFD), is a scientific method of numerically analyzing fluid flow, heat transfer and other related phenomena. It utilizes applied mathematics, physics and computational software to visualize the effect of a gas or liquid on the object it flows past. CFD is a cost-effective method of testing product prototypes before their launch. Since its introduction in the 1980s, it has witnessed a range of developments which have enabled it to be used in different fields such as modeling and design, and research and development.
At present, the growth of the market can be attributed to rapid advancements in the aerospace and aeronautics industries. In these sectors, CFD is applied in the maintenance of numerous critical systems and components of an aircraft. For instance, it is used for optimizing engine cooling and fuel delivery systems. CFD can also predict the performance of new processes and designs before their production and implementation. Owing to this, it has become an integral part of the engineering analysis and design environment in several organizations. Looking forward, IMARC Group expects the global computational fluid dynamics (CFD) market to exhibit moderate growth during the next five years.
The report has also analysed the competitive landscape of the market along with the profiles of the key players.
The global computational fluid dynamics market size was valued at US$ 1,930 Million in 2020.
According to the estimates by IMARC Group, the global computational fluid dynamics market is expected to exhibit moderate growth during the next five years.
The growing adoption of CFD in the aerospace and defense sector for cost reduction, operational efficiency, compliance standards and resource management of numerous critical systems and components, represent one of the key drivers for the global computational fluid dynamics market.
The emergence of electric vehicles has led to the increasing demand for advanced and efficient CFD software to create and introduce new designs and multi-versed vehicles, thereby representing one of the key trends in the global computational fluid dynamics market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of numerous end use sectors for computational fluid dynamics, such as aerospace and aeronautics, industrial machinery, automotive, etc.
On the basis of the deployment model, the market has been classified into cloud-based and on-premises CFD models. Amongst these, on-premises CFD models currently account for the largest market share.
On the basis of the end user, the market has been classified into automotive, aerospace and defense, electrical and electronics, industrial machinery, energy, material and chemical processing, and others. At present, aerospace and defense exhibit a clear dominance in the market.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where North America dominates the global market.
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