The growing electrification of vehicles and increasing adoption of advanced automotive technologies such as gasoline direct injection and automatic transmission are expected to spur the Automotive Pumps Market upsurge
Automotive pumps perform various functions such as elevating, compressing or moving fluids by mechanical action and enabling the movement of fluids around a system for the operating efficiency of a vehicle. The environmental regulations and the carbon emission norms by different countries expected to escalate the growth in the post-COVID period.
Automotive pumps are used in many vehicle parts such as coolant, steering, transmission, lubrication, and fuel. Automobile manufacturers are focusing increasingly on minimizing emissions and improving vehicle performance, safety, comfort, and fuel efficiency. 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.
The report also outlines the various characteristics of the global automotive pumps industry by assessing the market from value chain analysis. Lifestyle changes and growing urbanization have fueled the growth of the automobile industry, boosting the automobile pumps market further. Furthermore, the report provides a complete assessment of the market through company profiling and the competitiveness of the local as well as global vendors.
The automotive pumps market has solid competition amongst the already well-known and new market players. Also, the automotive pumps industry players are pursuing potential markets to seize a competitive lead among the other industry players by forming mergers & acquisitions, agreements, acquiring other companies & new startups, establishing collaboration & partnerships, and growing their business existence.
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 can be 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.
The Asia Pacific is analyzed to witness the highest growth rate over the forecasted timeline. 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 major players of the global automotive pumps market are 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 automotive pumps market comprises well established local as well as global players. In addition, the previously recognized market players are coming up with new and advanced strategic solutions and services to stay competitive in the global market.
Segment Overview of Global Automotive Pumps Market
- Product Type Overview, 2018 – 2028 (USD Billion)
- Fuel pump
- Fuel injection pump
- Water pump
- Windshield pump
- Steering pump
- Transmission oil pump
- Vacuum pump
- Headlight washer pump
- Vehicle Overview, 2018 – 2028 (USD Billion)
- Heavy Commercial Vehicles
- Light Commercial vehicles
- Passenger Cars
- Technology Overview, 2018 – 2028 (USD Billion)
- Sales Channel, 2018 – 2028 (USD Billion)
- Regional Overview, 2018 – 2028 (USD Billion and kilotons)
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