Global Automotive Pumps Market Growing On the Back of Rising Focus on Fuel Efficient Vehicles by the Automakers
Automotive Pumps are a very important part of the automobile industry as it enhances the performance of the vehicle as well as fuel efficiency. They can be applied at different parts of a vehicle such as a coolant, lubrication, steering, fuel, etc. the different parts of an automotive pump includes fuel supply pump, transmission oil pump, coolant pump, vacuum pump, fuel injection pump, and windshield washer pump. These pumps are used to circulate water or lubrication oils for cleaning purposes. Growth in the production of vehicles, growth in vehicle electrification, rise in implementation of environmental regulations, and also growing adoption of advanced technologies related to automotive like gasoline direct injection and automatic transmission are boosting the demand for the automotive pumps market.
The Global automotive pumps market will be at around USD 57 billion in 2019, and by the end of 2026, the developments in the market would affect the market values of around USD 95.31 billion. According to the industry giants and analysts, the global automotive pumps market growth will be around 5.9% in terms of CAGR.
Get a Free Sample of this report Here
Various giant manufacturers of automotive pumps which include Bosch, Aisin have delayed their production because of lowered demand, and also supply chain bottlenecks. Manufacturers will plan to adjust their production activities to prevent the supply chain bottlenecks and plan production as per the demand from OEMs and other manufacturers. Various giant players are operating in the market and have made recent development like in May2017, Delphi Automotive introduced a new kit for fuel tank cleaning to maintain the longevity of the pumps and is a part of their education campaign.
During the last few years, advanced technologies have been introduced by various automakers to cope up with the high demand for fuel efficiency and growth in vehicles operating. Therefore, the demand for automotive pumps is increased owing to the growth in vehicle efficiency and to provide value to their customers. However, the rising trend of electric vehicles especially in urban cities are some of the challenges presented to automotive pumps market development and growth. Also, the use of electric power steering can create lucrative opportunities for the automotive pumps market in the forecast period as it can reduce the need for drive belts, steering pumps, etc.
Top Market Players
- Delphi Automotive LLP,
- Aisin Seiki,
- SHW AG,
- Robert Bosch,
- Mikuni Corporation,
- TRW Automotive,
- Johnson Electric,
- Magna International,
- Denso CorporationKSPG AG
To know an additional revised 2020 list of market players, request a sample report
Based on the vehicle, the worldwide automotive pumps market can be segmented into heavy commercial, light commercial, passenger cars, and among these passenger cars are expected to lead the market with maximum share due to the high demand for passenger cars in developing countries. In terms of product, the global automotive pumps market can be segmented into windshield water, fuel, oil, fuel injection, water, steering, vacuum, and transmission. Among these, fuel injection types can be attributed to having the highest market share in the forecast period as the demand for fuel-efficient vehicles is increasing at a higher pace. On the basis of displacement, the market can be segmented into fixed and variable. Further, in terms of technology, the market is bifurcated into electrical and mechanical and among these the electrical pump has replaced the mechanical type pump in the last two years. In terms of geography, the market is segmented as North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. Asia Pacific region is expected to have the highest market share among others owing to the growth in the automotive sector among the countries such as India, China.
Frequently Asked Questions
What are Automotive Pumps?
Automotive Pumps are a very important part of the automobile industry as it enhances the performance of the vehicle as well as fuel efficiency. They can be applied at different parts of a vehicle such as a coolant, lubrication, steering, fuel, etc. the different parts of an automotive pump includes fuel supply pump, transmission oil pump, coolant pump, vacuum pump, fuel injection pump, and windshield washer pump.
Request a customized copy of the report HERE
What are the key factors driving Automotive Pumps Market expansion?
Advanced technologies have been introduced by various automakers to cope up with the high demand for fuel efficiency and growth in vehicles operating. Therefore, the demand for automotive pumps is increased owing to the growth in vehicle efficiency and to provide value to their customers.
Which region will make notable contributions towards global Automotive Pumps Market revenue?
Asia Pacific region is expected to have the highest market share among others owing to the growth in the automotive sector among the countries such as India, China.
Which are the key players leveraging Automotive Pumps Market growth?
Some of the leading players of the automotive pumps market include Seiki Co. LTD, Delphi Automotive LPP, TRW Automotive, Robert Bosch GmbH, Denso Corporation, SHW AG, KSPG AG, Aisin Seiki Co., Ltd., Mikuni Corporation, Johnson Electric, Rheinmetall, Magna, and ZF among others.