CFD Market Size, Trends, Share, Growth, and Opportunity Forecast, 2024 - 2031 Global Industry Analysis By Deployment Model (Cloud-Based, and On-Premises), By End-user (Automotive, Aerospace and Defense, Electrical and Electronics, Industrial Machinery, Energy, Material and Chemical Processing, and Others), and By Geography (North America, Europe, Asia Pacific, South America, and Middle East & Africa)

CFD Market Size and Forecast 2024 to 2031

The Global CFD Market was valued at USD 2.42 Billion in 2023 and is anticipated to reach a value of USD 4.63 Billion by 2031 expanding at a CAGR of 8.5% between 2024 and 2031.

To learn more about this report, request a free sample copy

CFD (computational fluid dynamics) is a field of fluid mechanics that uses computers to analyze and solve problems that involve fluid flows. CFD is a valuable tool utilized by engineers and scientists to simulate fluid and gas behavior in different settings. It is a branch of fluid mechanics that envisages the impact of flow of fluid. This method involves mathematical equations for predicting physical fluid flow by solving the governing equations using simulation. CFD is a software application that helps users in analyzing flow and pressure distribution of gases and liquids. The CFD market is segmented on the basis of deployment model into cloud- based model and on- premises model. The CFD market has been experiencing significant growth influenced by factors such as increasing demand for electric vehicles, rising demand in aerospace and aeronautics industries, growing demand across electronics and semiconductor industries, and rising demand in energy industry.

CFD Market Major Driving Forces

·         Increasing Demand for Electric Vehicles: The increasing demand for electric vehicles is the major factor propelling the growth of CFD market. With the growing shift towards electric vehicles (EVs), manufacturers are leveraging CFD technology to design more efficient cooling systems, and battery performance.  

·         Rising Demand in Aerospace and Aeronautics Industries: The growing demand for CFD in aerospace and aeronautics industries is fueling up the CFD market growth. In aerospace sector, CFD technology plays a crucial role in optimizing aircraft designs, reducing drag, and improving fuel efficiency.

·         Growing Demand across Electronics & Semiconductor Industries: The increasing demand across electronics and semiconductor industries drives significant growth of CFD market. These industries are utilizing CFD to improve thermal management in devices.

·         Rising Demand in Energy Industry: The energy industry, especially the renewable energy sector, is another significant driver of the CFD market. As the world transitions towards cleaner energy sources, there is a growing need for simulations that can optimize the design and performance of wind turbines, solar panels, and hydroelectric power plants.

CFD Market Key Opportunities

·         CFD Applications in Healthcare: The increasing use of CFD in the healthcare sector in recent years provide significant growth opportunity for market. CFD simulations are being utilized to model airflow and particle transmission in hospitals, and healthcare facilities to minimize the spread of infectious diseases.

·         Integration of Artificial Intelligence (AI) and Machine Learning (ML): The integration of artificial intelligence and machine learning into CFD software has revolutionized the simulation process. AI-driven algorithms can optimize CFD simulations, reducing the time required to achieve accurate results.  Machine helps in improving the predictive capabilities of CFD software, allowing for more accurate modeling of complex fluid dynamics.

·         Focus on Sustainability and Energy Efficiency: The growing emphasis on sustainability and energy efficiency offers lucrative opportunities for market expansion. Companies are increasingly utilizing CFD software to design more energy-efficient products and systems, reducing fuel consumption and emissions.

CFD Market Key Trends

·         Increasing demand for electric vehicles in the developed economies coupled with growth of automobile sector fuels demand for CFD

·         The shifting trend of adoption of cloud- based computational fluid dynamics model is one of the most significant trend in the industry

·         The integration of AI and machine learning technologies in CFD simulations enable faster and more accurate modeling

·         A growing focus on sustainability and energy efficiency driving demand for CFD software across various industries

·         The increased demand for real-time CFD simulations in industries such as aerospace and automotive

·         The rise of digital twin technology is another trend influencing the CFD market

Region-wise Market Insights

North America accounted for the largest market share at 33.6% in 2023 whereas, Asia Pacific is expected to register the fastest growth, expanding at a CAGR of 9.1% between 2024 and 2031.

To learn more about this report, request a free sample copy

In North America, the demand is driven by the presence of major industries such as automotive, aerospace, and energy with strong adoption of cloud-based CFD solutions. Additionally, the region's technological advancement, growing focus on reducing carbon emissions and improving energy efficiency are further driving the demand for CFD solutions in the region. Europe is another significant market for CFD with strong demand in the automotive and aerospace sectors. In Europe, stringent environmental regulations and a focus on sustainability and renewable energy is also contributing to the demand for CFD solutions. In Asia-Pacific, the market is characterized by the expansion of automotive, and electronics industries, significant investment in infrastructure and industrial development, and burgeoning aerospace sector in the region which has created an increasing demand for CFD. The Middle East and Africa has been witnessing a growing demand for CFD driven by investments in the oil & gas and energy sectors whereas, in South America, the market is influenced by economic factors, with the growth of manufacturing and energy sectors in the region.

Market Competition Landscape

The global CFD market is characterized by high degree of competition among a large number of manufacturers. Key players in the CFD market engage in strategies aimed at gaining a competitive edge. These strategies include product innovation, design differentiation, and the incorporation of sustainable and eco-friendly materials to meet evolving consumer preferences. Established brands leverage their reputation for quality and reliability to maintain market share, while newer entrants focus on disruptive innovations and unique selling propositions.

Key players in the global CFD market implement various organic and inorganic strategies to strengthen and improve their market positioning. Prominent players in the market include:

·         Altair Engineering Inc.

·         Ansys, Inc.

·         Autodesk Inc.

·         COMSOL INC.

·         Dassault Systèmes S.E.

·         Flow Science, Inc.

·         Siemens AG

·         SimScale GmbH

·         CFD Research Corporation

·         eToro

·         PTC Inc.

·         Thermoanalytics, Inc.

·         ESI Group

·         NUMECA International

·         Aspen Technology Inc.