Global Magneto-Rheological Fluids (MRF) Analysis Report 2023: Market to Reach $5.8 Billion by 2030 from $1.4 Billion in 2022 - Highly Stable Magneto Rheological Fluids to Expand Application Horizons
DUBLIN, Nov. 20, 2023 /PRNewswire/ -- The "Magneto-Rheological Fluids (MRF) - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Magneto-Rheological Fluids (MRF) Market to Reach $5.8 Billion by 2030
The global market for Magneto-Rheological Fluids (MRF) estimated at US$1.4 Billion in the year 2022, is projected to reach a revised size of US$5.8 Billion by 2030, growing at a CAGR of 19.4% over the analysis period 2022-2030.
It covers different aspects of the market, including various types of base fluids such as synthetic hydrocarbon oil, water, silicon oil, hydraulic oil, mineral oil, paraffin oil, and other base fluids.
Synthetic Hydrocarbon Oil, one of the segments analyzed in the report, is projected to record 20.6% CAGR and reach US$2 Billion by the end of the analysis period. Growth in the Water segment is estimated at 19.9% CAGR for the next 8-year period.
The report also includes insights into recent past, current, and future sales trends, along with percentage Compound Annual Growth Rates (CAGR) where applicable.
The U.S. Market is Estimated at $486.7 Million, While China is Forecast to Grow at 23.5% CAGR
The data includes independent analysis of annual sales in US$ Thousand for the years 2022 through 2030, with a focus on geographic regions, including the USA, Canada, Japan, China, Europe, Asia-Pacific, and Rest of World.
The Magneto-Rheological Fluids (MRF) market in the U.S. is estimated at US$486.7 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$757.8 Million by the year 2030 trailing a CAGR of 23.5% over the analysis period 2022 to 2030.
Additionally, it provides an 8-year perspective, illustrating the percentage breakdown of value sales for select years within this period. The report covers various applications of MRF, including automotive & aerospace, robotics, building & construction, military & defense, medical & prosthetics, electrical & electronics, and other applications.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 17.1% and 17.7% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 18.3% CAGR.
MARKET TRENDS & DRIVERS
FOCUS ON SELECT PLAYERS (Total 24 Featured)
For more information about this report visit https://www.researchandmarkets.com/r/wgeqgy
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