What is the global market size of CFD Market?

Global CFD Market size was valued at USD 2067.93 million in 2021 and is poised to grow from USD 2249.49 million in 2022 to USD 4410.39 million by 2030, at a CAGR of 8.78% during the forecast period (2023-2030).

Who are the key vendors in the Global CFD Market?

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. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry. 'ANSYS', 'Siemens', 'Dassault Systèmes', 'PTC Inc.', 'Altair Engineering', 'NUMECA International', 'Convergent Science', 'Hexagon AB', 'ESI Group', 'Autodesk'

What is the key driver of Global CFD Market?

The continuous progress in both CFD (Computational Fluid Dynamics) software and hardware represents a significant leap forward, notably in high-performance computing and cloud-based solutions. These advancements have significantly augmented simulation capabilities, empowering them to tackle increasingly complex scenarios with higher precision. The synergy between refined software algorithms and more potent hardware has unlocked new frontiers, enabling the execution of intricate and remarkably accurate simulations.

What is the key market trend for Global CFD Market?

Industries are increasingly turning to CFD simulations as an integral part of their product design and optimization strategies. By leveraging CFD, companies can virtually test and fine-tune prototypes, significantly reducing the reliance on costly physical testing and experimentation. This shift not only expedites the product development cycles but also yields more efficient and economically viable designs. In today's fiercely competitive business landscape, the capability to swiftly iterate and perfect designs stands as a critical advantage. CFD empowers engineers and designers to meticulously analyze fluid dynamics, heat transfer, and other intricate physical phenomena, culminating in the creation of higher-performing products. Furthermore, amidst the growing emphasis on sustainability, CFD plays a pivotal role in crafting environmentally conscious designs by optimizing energy usage and curbing waste, thereby fueling its widespread adoption across diverse industries.

Which region accounted for the largest share in CFD Market?

North America has emerged as a leader, securing the largest market share in CFD, attributed to several key factors. The region boasts a robust presence of pivotal industry players, fostering a competitive landscape conducive to technological advancements. Moreover, substantial investments in research and development (R&D) initiatives bolster innovation, propelling the evolution of CFD solutions. The high adoption rate of CFD across diverse industries within North America, spanning aerospace, automotive, energy, and more, stands as a driving force behind market expansion.

Computational Fluid Dynamics (CFD) Market Updates

Computational Fluid Dynamics (CFD) Market News

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.

FAQs

CFD Market was valued at USD 2446.47 Million in 2023 and is poised to grow from USD 2661.27 Million in 2024 to USD 5217.72 Million by 2032, growing at a CAGR of 8.78% during the forecast period (2025-2032).

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. '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)'

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.

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.

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.