Share this article Share this article ResearchAndMarkets.com's offering. The Fluid Transfer System Market is Projected to Grow to USD 24.7 Billion by 2025 from USD 17.8 Billion in 2020, at a CAGR of 6.7% during the Forecast Period. The major driving factors for the fluid transfer system industry are stringent emission norms, fuel efficiency regulations, growing demand for premium vehicles and increasing adoption of after-treatment devices in diesel engines around the globe. However, increasing sales of electric vehicles due to attractive government incentives are expected to impact ICE fluid transfer system market. The automotive industry plays a crucial role in building the global economy. However, the COVID-19 outbreak disrupted the whole automotive supply chain on a global scale in the first 6-7 months of 2020. The pandemic presented an uncertain recovery timeline for the automotive industry due to lockdown implementation and shutdown of manufacturing facilities in various parts of the world.