The market for automotive pumps is expected to grow at a CAGR of around 6.9% from 2020 to 2027 and expected to reach the market value of around US$ 27,281.7 Mn by 2027.
Automotive Pumps are designed to derive a variety of tasks that are required for an automotive working like the circulation of liquid through the circuits of the vehicle, and spray of fluid on transparent surfaces of the vehicle among others, along with the features like high reliability, high efficiency, low noise, and long-life performance.
The increasing emission norms associated with the fuel efficiency as in turn rising focus of automakers toward fuel-efficient vehicles is driving the market growth. The increasing demand for environment-friendly solutions is supporting market growth. The increasing vehicle production along with the utilization of advanced technologies such as gasoline direct injection and automatic transmission to control vehicular emissions are additionally accelerating the market value. Furthermore, the growing use of ethanol fuel in the automotive industry and the rising trend of engine downsizing are the factors anticipated to create opportunities over the forecast timeframe from 2020 to 2027.
On the other side, increasing the installation of electric power steering in passenger cars coupled with the high demand for electric vehicles in the near future is projected to hinder the market growth to an extent.
Mechanical segment accounted for the major share in the global market
By technology, the mechanical segment is leading the market in terms of revenue share in 2019. These pumps use mechanical force to pump the fluid and are also known as geared pumps. Moreover, the electrical technology pumps are anticipated to exhibit the fastest growth over the forecast period due to the rising inclination of automotive manufacturers towards the electrification of automotive vehicles.
The market research study on “Automotive Pumps Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 – 2027”, offers a detailed insight into the global Automotive Pumps market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights into the global Automotive Pumps market, its pump type, technology, sales channel, vehicle type and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global Automotive Pumps market size and volume, and segment markets by pump type, technology, sales channel, vehicle type and geography along with the information on companies operating in the market. The Automotive Pumps market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.
Asia Pacific accounted for the maximum share in the global market
In 2019, Asia Pacific is leading the global market with a major share, and the region is also projected to maintain its dominance over the forecast timeframe from 2020 to 2027. The rapidly developing economies of the region including China and India are majorly contributing to the regional market value. The increasing sales of passenger, as well as commercial vehicles in the regional market, are supporting the regional market value. The rising environmental concern and major government restrictions are forcing manufacturers to shift their focus toward low fuel consumption vehicles are further projected to exhibit the fastest growth in the regional market with major CGAR (%) over the estimated period from 2020 to 2027.
The players profiled in the report include Aisin Seiki Co. Ltd., Continental, Delphi Automotive, Denso Corporation, Johnson Electric, KSPG AG-A- Rheinmetall, Magna International, Mikuni Corporation, Robert Bosch Gmbh, SHW AG, TRW Automotive, and Valeo.
Market By Pump Type
Fuel injection pump
Transmission oil pump
Headlight washer pump
Market By Technology
Market By Sales Channel
Market By Vehicle Type
Market By Geography
Middle East & Africa
The increasing emission norms associated with the fuel efficiency, rising focus of automakers toward fuel-efficient vehicles, increasing demand for environment-friendly solutions, and increasing vehicle production along with utilization of advanced technologies are some of the factors driving the market growth.
The market for automotive pumps is expected to reach a market value of around US$ 27,281.7 Mn by 2027.
The market for automotive pumps is expected to grow at a CAGR of around 6.9% from 2020 to 2027.
Aisin Seiki Co. Ltd., Continental, Delphi Automotive, Denso Corporation, Johnson Electric, KSPG AG-A- Rheinmetall, Magna International, Mikuni Corporation, Robert Bosch Gmbh, SHW AG, TRW Automotive, and Valeo are the prominent players in the market.
Asia Pacific held the highest market share in the automotive pumps market.
Mechanical is the leading segment by technology in the automotive pumps market.
Asia Pacific is expected to be the fastest growing market over the forecast period.