Press release
Automotive Pump Market Projected to Reach Nearly US$ 60 Bn Revenue by the end of 2022
Fact.MR
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Increasing inclination of automobile manufacturers towards adoption of green technologies has had a seminal impact on the dynamics of automotive pumps market. In the years to come, advancements in automotive pumping technology will have the potential to maximize the influence of automotive pumps in boosting the efficiency of automobiles.
Automotive pumpsconvey automotive fluids in a vehicle. Common fluids pumped by automotive pumps include fuel, oil, lubricants, water and coolants. Automotive pumps are also used for steering and transmission operations. Displacement capacity of automotive pumps are considered while gauging a vehicle’s performance. Through advanced pumping technologies, some automotive pumps are being applied in a car’s suspension system.
Fact.MR’s recently published report on the global market for automotive pumps projects that in 2017, over US$ 48 Bn worth of automotive pumps will be sold across the globe. However, the report also underlines that automobile manufacturers will prompt OEMs to develop single automotive pumps that can perform diverse automotive pumping functions. An innovation as such will be advantageous for the performance of vehicles, but the emergence of all-purpose automotive pump will impede the market’s overall growth, eliminating the need for function-specific pumps. By the end of 2022, the global market for automotive pumps is projected to reach US$ 60 Bn, albeit, at a sluggish pace, exhibiting a moderate CAGR.
Scope
The scope of the report is to analyze the global automotive pumps market for the period 2017-2022 and give readers an accurate, unbiased analysis. Automotive pump manufacturers, suppliers, and stakeholders in the overall automotive market can benefit from the insights offered in this report. The comprehensive analysis offered in the report can also be of interest to leading automotive journals and trade magazines.
Summary
The report begins with a concise summary of the global automotive pumps market. This executive summary sets the tone for the rest of the report, giving users the scope of the report. The executive summary includes important facts and statistics on the global automotive pumps market.
Demand for Fuel Injection Pumps to Ascent
With more than two-fifth share, fuel supply pumps are anticipated to remain in great demand, pertaining to their importance in improving the performance of automobile engine. By the end of 2022, more than US$ 25 Bn revenues will be amassed from global sales of fuel supply pumps. Growing preference to engines developed on advanced technologies is stimulating the demand for automotive pumps such as fuel injection pumps. In 2017, the global market for automotive pumps is likely to procure revenues worth nearly US$ 10 Bn from sales of fuel injection pumps.
Plastic Bumpers are Apt for Passenger Cars
The principal reason behind OEMs promoting the use of plastic bumpers over metal bumpers is their advantage in improving vehicle fuel efficiency. This advantage is congenial to passenger cars, which are supposed to be lightweight and more fuel efficient. Commercial vehicles, on the other hand, might do well by replacing the fragile plastic bumpers with their sturdy, metal counterparts. In 2017, nearly 70% of the global automotive plastic bumper revenues are pegged to be accounted by passenger cars. To the contrary, revenue growth of heavy commercial vehicle and light commercial vehicle segments is expected to reflect below 4% CAGRs over the forecast period.
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Promising Growth in Aftermarket Sales of Plastic Bumpers
The report further points out a significant rise in sales of automotive plastic bumpers across aftermarket channels. Customization of used cars is observed as the driving force for revenue growth of automotive plastic bumper aftermarket. Nevertheless, OEMs will remain largest sales channel for automotive pumps throughout the forecast period. By the end of 2022, OEMs will account for more than three quarters of global market value for automotive plastic bumpers.
Competition Tracking
Delphi Automotive LPP, Denso Corporation, Magna International Inc., Robert Bosch GmbH, Magneti Marelli S.p.A, ZF Friedrichshafen AG, Rheinmetall Automotive AG, AISIN SEIKI Co., Ltd., Mikuni Corporation, Concentric AB, and Pricol Limited are key players in the global automotive pumps, which are comprehensively profiled in a competitive landscape included in the report.
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About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized Automotive Market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
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