Global Computational Fluid Dynamics (CFD) Market Size (2024 – 2030)

Global Computational Fluid Dynamics Market was valued at USD 2.49 Billion and is projected to reach a market size of USD 4.32 Billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 8.2%. This market is witnessing a healthy CAGR of 8.2% from 2022 to 2030. The rapid advancements in Computational Fluid Dynamics (CFD) in aerospace and aeronautics, the high adoption of electric vehicles, and the surge in industrialization across the globe are majorly driving the growth of the market.

Industry Overview:

Computational Fluid Dynamics (CFD) is a scientific method that analyzes fluid motion, heat transfer, and other related phenomena using numerical approaches. It utilizes applied mathematics, physics, and computational software to envision the effect of a gas or liquid on the object it flows past. Computational Fluid Dynamics is a cost-effective method that tests product prototypes before their launch. It has witnessed a range of developments since its introduction in the 1980s, which have allowed it to be used in different fields such as modeling, designing, and research and development activities. The aerospace industry incorporates Computational Fluid Dynamics techniques into the design, manufacturing, and R&D activities of aircraft and jet engines. The Computational Fluid Dynamics software's fluid flow analysis capabilities can optimize new equipment and design. It enables end-users to analyze a product's real-world performance by digitally prototyping its creation, which allows end-users to detect and rectify designs before the manufacturing process. Computational Fluid Dynamics software is utilized in diverse industries including aerospace, electrical & electronics, automotive, defense, and energy.

The rapid advancements in the aerospace and aeronautics industries are boosting the Computational Fluid Dynamics market growth. CFD is used in the maintenance of various critical components and systems of an aircraft. It is used in optimizing engine cooling and fuel delivery systems. Moreover, the widespread adoption of the Computational Fluid Dynamics method to prevent cavitation in pumps by measurement of damage at a granular level is also driving the market growth. Furthermore, this method is utilized in solving issues in batteries related to ambient heating, overcharging, and rapid discharging cost-effectively. Recently several methods have been deployed in the design of internal combustion engines, combustion chambers, gas turbines, and furnaces. The computational fluid dynamics industry is witnessing optimal growth in recent years and is anticipated to continue the trend in upcoming years. The rising investments in research & development activities, product innovation, effective allocation of resources, shifting towards cloud-based CFD, technological breakthroughs,  entry of new players, and growing competition among business rivals to expand its regional and customer base are contributing to the market growth.

COVID-19 outbreak impact on the global Computational Fluid Dynamics Market

The COVID-19 pandemic had disrupted the global supply chain, which lead to disturbances in production activities in many countries. The outbreak of the COVID-19 pandemic led to flight cancellations, travel bans, and restrictions causing a massive slowing of the Computational Fluid Dynamics (CFD) market. In the first quarter of 2020, COVID-19 spread affected a large number of aspects of the Computational Fluid Dynamics (CFD) market owing to an unexpected halt in the production process and financial and manufacturing activities in various sectors. CFD simulations are used in designing ventilators and other respiratory equipment for treatment. Additionally, biomedical companies also utilize Computational Fluid Dynamics simulations to aid vaccine production. CFD simulation provides multiple approaches to model droplets or aerosols and their transport in space and time. By modeling the exhalation of droplets/aerosols from talking, coughing, and sneezing, Computational Fluid Dynamics simulations can show where these particles travel, how long they stay in the air, and what surfaces they impinge on. In the post-Covid world,  where the need arises to sterilize and purify indoor spaces, Computational Fluid Dynamics simulations can help in designing purifying equipment.

MARKET DRIVERS:

The rapid advancements in Computational Fluid Dynamics (CFD) in the aerospace and aeronautics industries are boosting the market growth

The growing demand for computational fluid dynamics in the aerospace and aeronautics industries owing to the increased expenditure on technological advancements is propelling growth in the computational fluid dynamics market. The increase in the need for competitive and superior products in the automotive industry is majorly driving the global CFD market. Computational fluid dynamics is used in designing fuel systems, engine core compartments, external aerodynamics, cabin ventilation, submarines, and missiles. It helps manufacturers in the aerospace & defense industry lower product development cycles.

The high adoption of electric vehicles and the surge in industrialization across the globe is fuelling the computational fluid dynamics market growth rate

The increasing demand for electric vehicles in the developed economies coupled with the growth and expansion of the automobile sector in the developing economies is primarily driving the market growth. The market perspective has steadily shifted toward emerging countries such as China, Brazil, South Korea, and India. The rise in outsourcing activities to emerging economies is boosting the manufacturing industry in these countries. Rising industrialization along with the widening of the scope for the application of computational fluid dynamics is likely to positively impact the growth rate of the market.

MARKET RESTRAINTS:

The low adoption of cloud-based deployment owing to security and privacy concerns is a key challenge in the growth of the Computational Fluid Dynamics market

The rising concerns regarding security and privacy in the cloud deployment model especially in defense and aerospace industries can pose a major challenge to the growth of the computational fluid dynamics market. Many end-users are unwilling to adopt cloud solutions. The Aerospace & defense industry is witnessing the relatively slow adoption of cloud-based solutions owing to data security and privacy issues related to hacking and various other attacks on cloud infrastructure. Customers prefer using open-source Computational Fluid Dynamics software rather than spending a huge amount on commercial licenses, which can also restrain the market growth. Furthermore, a lack of awareness about computational fluid dynamics in underdeveloped economies is likely to hinder the market growth rate.

The poor design of CFD creates numerous issues for original equipment manufacturers and also for customers and suppliers which can negatively impact the market

Challenges associated with using Computational Fluid Dynamics for ventilation design and control can restrain the market growth. The development of unsteady turbulence models such as Large Eddy Simulation (LES) and the representation of inlet boundary conditions are challenges in using CFD modeling for ventilation, and the concern is related to ventilation efficiency and the prediction accuracy of indoor airflow characteristics. Although RANS (Reynolds-averaged Navier–Stokes equations) or URANS (Unsteady RANS) are employed for ventilation simulation owing to their low cost, however, the accuracy is still limited as a consequence of unresolved temporal turbulent fluctuations. RANS models are not efficient for the optimal design of building ventilation systems. Additionally, the turnaround time associated with Computational Fluid Dynamics is one of the limiting factors in the use of Computational Fluid Dynamics in the design and creation of databases and multi-disciplinary applications.

COMPUTATIONAL FLUID DYNAMICS MARKET REPORT COVERAGE:

This research report on the global Computational Fluid Dynamics (CFD) Market has been segmented and sub-segmented based on deployment model, end-user, and region.

Computational Fluid Dynamics Market – By Deployment Model

• Cloud-Based
• On-Premises

Based on Deployment Model, the Computational Fluid Dynamics (CFD) market is segmented into Cloud-Based and On-Premises. The rapid development in cloud services has significantly increased the demand for data centers. Computation Fluid Dynamics workloads typically scale well on the cloud-based deployment model. The cloud-based deployment provides a quick way to deploy and turn around Computational Fluid Dynamics workloads at any scale without the need to own your infrastructure. Cloud computing enables low-cost access to high-performance computing without much capital investment.

Computational Fluid Dynamics Market – By End-User

• Automotive
• Electrical and Electronics
• Aerospace and Defence
• Industrial Machinery
• Material and Chemical Processing
• Energy
• Others

Based on End-User, the Computational Fluid Dynamics (CFD) market is segmented into Automotive, Electrical and Electronics, Aerospace and Defence, Industrial Machinery, Material and Chemical Processing, Energy, and Others. Computational Fluid Dynamics software application helps end-users in analyzing the flow, pressure distribution, and turbulence of liquids and gases, and their interaction with structures. It also predicts fluid flow, chemical reactions, mass transfer, and related phenomena. Computation Fluid Dynamics operates high-speed computers, and various numerical methods to simulate the flow of fluids which helps in detecting errors in design before proceeding to production. Computational Fluid Dynamics is used to design engine core compartments, fuel systems, cockpit, cabin ventilation, submarines, and missiles, and assess aerodynamics in the aerospace and defense industry. Computational Fluid Dynamics demand is estimated to rise significantly over the upcoming years as it helps different end-users in understanding the changes that result from the addition of new hardware.

Computational Fluid Dynamics Market - By Region:

• North America
• Europe
• Asia-Pacific
• The Middle East, Latin America, & Africa

Geographically, North America and Europe collectively dominate the global Computational Fluid Dynamics (CFD) Market and are anticipated to continue the dominance during the forecast period. This is attributed to the rising adoption of cloud-based computational fluid dynamics deployment models in the region. The high R&D investment in the aerospace & defense sector in the U.S. offers substantial growth opportunities to the Computational Fluid Dynamics market in the region.

The Computational Fluid Dynamics (CFD) Market in the Asia Pacific is anticipated to register the highest growth rate during the forecast period owing to the increasing adoption of integrated computational fluid dynamics software and rapid expansion of the manufacturing sector in the region. China and India are poised to emerge as the major contributors to the regional market. The increasing adoption of integrated CFD software to advance the efficiency of product progress cycles is one of the emerging trends in the market in the Asia Pacific. Some of the large Computational Fluid Dynamics vendors are providing integrated CFD software with various other PLM tools to enhance the efficiency of product development cycles. The Computational Fluid Dynamics market in the Asia Pacific region is highly fragmented owing to the presence of several international, regional, and local vendors. The vendors are focusing on technological advancements and R&D investments. Several start-ups are entering the market owing to the high growth potential of the computational fluid dynamics market.

The Computational Fluid Dynamics (CFD) Market in Latin America, the Middle East, and  Africa is anticipated to expand at a sluggish pace during the forecast period.

Major Key Players in the Market

1. Altair Engineering, Inc.
2. ANSYS, Inc.
3. Autodesk Inc.
4. COMSOL AB.
5. Hexagon AB
6. Convergent Science Inc.
7. Dassault Systemes SE
8. ESI Group
9. PTC Inc.
10. Tech Soft 3D
11. Siemens AG

are playing a pivotal role in the Global Computational Fluid Dynamics (CFD) Market.

The key vendors in the market are focusing on strategic alliances with technology providers for technical support to their customer base.  Altair Engineering Inc. offers Computation Fluid Dynamics software and other services including 3D modeling applications, simulation applications to create virtual twins of products or production systems, information intelligence applications, and social and collaborative applications. ANSYS Inc. provides Computation Fluid Dynamics technology for calculating, meshing, and visualizing different projects. Autodesk Inc. offers Computation Fluid Dynamics software that provides engineers with a range of powerful tools for system design optimization. COMSOL AB offers Computation Fluid Dynamics software with tools for modeling the cornerstones of fluid flow analysis.

Notable happenings in the Global Computational Fluid Dynamics (CFD) Market in the recent past:

• Acquisition- In April 2022, Ansys signed a definitive agreement to acquire cloud simulation provider  OnScale. This technology acquisition will help offer a cloud-native, web-based user interface (UI) for device-independent access to Ansys' wide range of simulation technologies.
• Acquisition-  In February 2021,  Altair, a global provider of software and cloud solutions in the areas of simulation, artificial intelligence (AI), and high-performance computing (HPC), announced the acquisition of Flow Simulator from GE Aviation. Flow Simulator is an integrated software with the flow, heat transfr, and combustion design, which allows mixed fidelity simulations to optimize machine and systems design.
• Acquisition - In  April 2021, Hexagon AB, a global leader in sensor, software, and autonomous solutions acquired CADLM SAS, a leader in powering computer-aided engineering (CAE) with artificial intelligence (AI) and machine learning (ML) to transform the impact of simulation in product development lifecycles.
• Product Launch-  In May 2021, Altair, released its latest simulation solutions, including comprehensive computational fluid dynamics (CFD) along with expanded capabilities in electronic system design (ESD). Updates involve all major Computational Fluid Dynamics solutions under a single license, seamless access to the cloud, and expanded end-to-end electronic system design capability.
• Acquisition- In May 2021, Ansys,  the global leader of engineering simulation software, announced the acquisition of Phoenix Integration, Inc. the premier provider of software that implements model-based engineering (MBE) and model-based systems engineering (MBSE). The acquisition is aimed to expand the scope of Ansys’ solution offering, allowing users to connect a range of engineering tools in multi-tool workflows for broad and robust model-based engineering.
• Acquisition- In June 2021, Siemens acquired Nextflow Software, an independent provider of advanced particle-based CFD solutions. Nextflow Software’s offering will expand the Simcenter™ software portfolio, which is part of the Siemens' Xcelerator™ portfolio of software and services, with rapid meshless computational fluid dynamics capabilities to analyze complex transient applications in the automotive, marine industries, and aerospace.
• Collaboration- In November 2020, Convergent Science, a member of Oracle PartnerNetwork (OPN), collaborated with Oracle, a leader in cloud computing and enterprise software. Oracle Cloud Infrastructure provides on-demand access to high-performance computing (HPC) resources, allowing customers to run large-scale CONVERGE simulations on modern HPC architectures in the cloud. CONVERGE 3.0 is developed to enable massively parallel CFD simulations and to demonstrate exceptional scaling on Oracle Cloud Infrastructure on thousands of cores.
• Product Launch- In November 2020, COMSOL, a provider of software solutions for multiphysics modeling, simulation, application design, and deployment, introduced version 5.6 of the COMSOL Multiphysics® software. The new version offers faster and more memory-lean solvers for multicore and cluster computations, application layout templates, and more efficient CAD assembly handling.