Automotive pumps perform various functions including elevating, compressing, or transferring fluids through mechanical action and facilitating the circulation of fluids around a system for the operational performance of a vehicle. They are increasingly being used to improve fuel efficiency and vehicle performance. The positive outlook across these industries is augmenting the product demand.
The global Automotive Pumps market is expected to develop $14,800 Million by 2030, at a compound annual increase in price (CAGR) of 4.1% throughout the forecast period.
The global automotive pumps market size is projected to reach over USD 27 billion by 2028. The increasing severe emission standards governing fuel efficiency and surging vehicle production coupled with the use of advanced pumps to control vehicle emissions is expected to drive the product demand in the coming years. Furthermore, the growing vehicle electrification, and integration of advanced automation techniques such as automatic transmission and gasoline turbocharged direct injection into vehicles is further contributing to the growth of the industry.
The COVID-19 pandemic has become a major concern of those associated in the automotive industry. The suspension of vehicle manufacturing and supply disruptions have halted the automotive industry. Lower vehicle sales post the pandemic for the next few quarters is expected be a major concern for automotive OEMs. There's a slim chance of recovery from vehicle sales, according to experts. Although, the steady opening of the lockdown restrictions along with the relaxation in supply chain for is expected to escalate the demand for the automotive pumps. Furthermore, carbon emission norms by different countries is expected to escalate the growth in the post-COVID period.
The automotive pumps are witnessing an upsurge in demand owing to the rising vehicle production, increasing execution of environmental regulations, growing vehicle electrification, and the increasing integration of advanced automation techniques such as automatic transmission and gasoline turbocharged direct injection into vehicles which need dedicated automotive pumps for effective operation. Changing lifestyles and increasing urbanisation have boosted the development of the automotive industry, driving the automotive pumps market further. Furthermore, modern vehicles are equipped with smart technology and features that meet the latest emission, quality, safety and performance standards which is augmenting the growth of the market.
In terms of product type, the market is classified into fuel pump, fuel injection pump, water pump, windshield pump, steering pump, transmission oil pump, vacuum pump, headlight washer pump segments. The steering pump segment is expected to dominate the automotive pump market during the forecast period. This growth is attributed to its surging usage in hydraulic and electro-hydraulic power steering systems. Hydraulic steering system is also equipped in passenger and commercial cars aiding to the growth of this segment.
On the basis of the vehicle type, the market is classified into heavy commercial vehicles, light commercial vehicles, passenger cars. The rising sales of passenger cars are driving the growth of this segment during the forecast period. The growth can be attributed to the increasing demand for passenger cars in developing countries and rising disposable income levels in the developing nations.
On the basis of the technology segment, the market is classified into electric, mechanical. The electric pump segment is expected to dominate the automotive pump market in the coming years driven by the recovery in automotive production and sparkling innovation in fuel pump design and control electronics.
On the basis of the sales channel segment, the market is bifurcated into OEM and aftermarket. This growth is because the OEMs are increasing investing investments in product and R&D to develop superior fuel pump design and control electronics.
In terms of geography, the global automotive pumps market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Asia Pacific is anticipated to dominate the global automotive pumps market. The region comprises some of the fastest developing economies of the world such as China and India. The growth can be attributed to the increasing sales of commercial vehicles and passenger cars, surging disposable income of the people and stringent emission norms in this region.
The leading players operating across the global Automotive Pumps Market include Delphi Automotive, Aisin Seiki, Denso Corporation, Robert Bosch Gmbh, Johnson Electric, KSPG AG-A- Rheinmetall, Mikuni Corporation, Magna International, TRW Automotive and SHW AG. The market players are engaged in product development to amplify their market share and gain traction in global marketplace. The companies are engaging in strategic acquisitions such as product launches, R&D, agreements, and collaborations to gain market share. The market for automotive pumps is consolidated with established global players and is further witnessing the emergence of new industry players.
Automotive Pumps Market Scope
|Revenue forecast in 2030
|$ 14,800 Million
|CAGR of 4.1% during 2020-2030
|By product, By Technology, By Vehicle type, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Aisin Seiki Co. Ltd., Delphi Automotive, Denso Corporation, Robert Bosch Gmbh, Johnson Electric, KSPG AG-A- Rheinmetall, Mikuni Corporation, Magna International, TRW Automotive and SHW AG.
Key segments across Automotive Pumps Market
Product Type Overview (USD Million)
- Fuel pump
- Fuel injection pump
- Water pump
- Windshield pump
- Steering pump
- Transmission oil pump
- Vacuum pump
- Headlight washer pump
Vehicle Overview, (USD Million)
- Heavy Commercial Vehicles
- Light Commercial vehicles
- Passenger Cars
Technology Overview, (USD Million)
Sales Channel, (USD Million)
Regional Overview, (USD Million)
o Rest of Europe
• Asia Pacific
o Rest of Asia-Pacific
• Middle East & Africa
o Saudi Arabia
o Rest of Middle East & Africa
• South America
o Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global automotive pumps industry. Benchmark yourself against the rest of the market.
- Be prepared for how automotive pumps industry will be impacted by socio-political and economic factors over the next few years.
- Ensure you remain competitive as new innovations by existing key players boost the market.
What does the report include?
- The study on the global automotive pumps includes qualitative factors such as drivers, restraints, and opportunities.
- The study covers the competitive landscape of existing/prospective players in the industry and their strategic initiatives for the form development.
- The study covers a qualitative and quantitative analysis of the market segmented on the basis of drug type, products, and application. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
This study is suitable for industry participants and stakeholders in the global automotive pumps. The report will benefit:
- Every stakeholder involved in manufacturing and distributing components or solutions.
- Managers within financial institutions looking to publish recent and forecasted statistics pertaining to the global automotive pumps industry.
- Government organizations, regulatory authorities, policymakers and financial organizations looking for T&D investment trends in global automotive pumps industry.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.