The automotive pumps market was valued at USD 12.66 Billion in 2020 and is expected to reach USD 21.26 Billion by year 2028, at a CAGR of 6.60% CAGR during the forecast period (from 2018 – 2028). The growth of the automotive pumps market is majorly driven by the key factors, including the growing implementation of stringent environmental regulations, rising vehicle production and demand, and increasing vehicle electrification. Further, the rising in the adoption of advanced automotive technologies such as gasoline direct injection and automatic transmission is also driving the growth of the automotive pumps market.
Automotive pumps are one of the critical components of the entire automotive system where pumps transfer pressurized automotive fluids to different vehicle components such as the lubrication system, fuel system, coolant system, transmission system, and steering system. Based on the function, automotive pumps are categorized as the oil pump, fuel pump, steering pump, transmission pump, windshield washer pump, and vacuum pump, and others.
The Asia Pacific region is projected to be the largest market by 2026. The region includes some of the rapidly growing economies of the world, such as India and China. Further, the Asia Pacific region is the major market for the automotive industry as the growing purchasing power of customers has prompted the demand for automobiles in the region. Also, the increasing demand for commercial vehicles and passenger cars in the region are propelling the growth of the market. Concerns over ecological imbalance caused by vehicle emissions have increased in the past decade in countries such as India, China, Malaysia, and Thailand. These issues have forced major automakers to shift focus toward more fuel-efficient vehicles. Hence, Asia Pacific is anticipated to show higher growth in the market over the forecast period. Moreover, the rising demand for commercial vehicles in emerging economies of the region is likely to fuel the growth of the Asia Pacific market during the forecast period. The low replacement rate is one of the key factors restraining the growth of the automotive pumps market. With the advancement of technology, the replacement rates of automotive pumps are expected to be further lowered. This implies the low potential for automotive pumps in the aftermarket manufacturers globally.
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Top Profiled in the Managed Mobility Services Market Report:
- Delphi (UK)
- Denso (Japan)
- Johnson Electric (Hong Kong)
- Bosch (Germany)
- KSPG (Germany)
- Magna (Canada)
- SHW (Germany)
- ZF (Germany)
- isin Seiki (Japan)
Market Segmentation:
Automotive Pumps Market by Type (Revenue, USD Million; 2018–2028)
- Fuel Pump
- Fuel Injection Pump
- Water Pump
- Windshield Pump
- Steering Pump
- Transmission Oil Pump
- Vacuum Pump
- Headlight Washer Pump
- Braking System
Automotive Pumps Market by Technology (Revenue, USD Million; 2018–2028)
- Electric
- Mechanical
- Diaphragm Pump
- Plunger-type
- Turbo Pumps
Automotive Pumps Market by Displacement (Revenue, USD Million; 2018–2028)
- Variable Displacement
- Fixed Displacement
Automotive Pumps Market by Vehicle Type (Revenue, USD Million; 2018–2028)
- 2 Wheeler
- 4 Wheeler
- Passenger Cars
- Commercial Vehicles
Automotive Pumps Market by Propulsion Type (Revenue, USD Million; 2018–2028)
- Gasoline Operated
- Electric Powered
Automotive Pumps Market by Channel (Revenue, USD Million; 2018–2028)
- OEM
- Aftermarket
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Key Takeaways of the Automotive Pumps Market Report:
- A comprehensive overview of the global Automotive Pumps
- Accurate market projections in terms of market size, share, and volume.
- Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
- Deep-dive analysis of the upcoming market trends.
- Qualitative and quantitative analyses of the Automotive Pumps Market.
- Elaborate study of the leading regional markets in the Automotive Pumps Market.
- Complete overview of the market’s competitive landscape.
- Brief look at the company profiles and portfolios.
Key Regional Markets Covered in the Report:
- North America
- S.
- Canada
- Mexico
- Europe
- Russia
- K.
- Germany
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- A.E.
- Israel
- Rest of Middle East & Africa
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