Press release
Automotive Pumps Market to surge at a CAGR of 5.1% during the forecast period 2017 to 2026
Automotive pump is a crucial component found in all types of vehicles, but advances in automotive technology has continued to influence its design and application prospects. Fact.MR projects that the global automotive pumps market will surpass US$ 75,200 Mn by the year 2026. As global sales of vehicles continue to grow, it also ushers the demand for various automotive components and parts including automotive pumps. OICA (Organisation Internationale des Constructeurs d'Automobiles) statistics suggest that more than 94,976,500 vehicles were produced globally in 2016. In the same year, Selectusa a website managed by The International Trade Administration (ITA), U.S. Department of Commerce revealed that U.S. light vehicle production reached nearly 12 million passenger vehicles. A steady growth has been observed by the automotive sector in recent years, which has reflected favourably on several other sub-sectors associated with the industry.
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global automotive pumps market
The industry remains focused on developing more efficient automotive technologies to reduce fuel consumption as well as to abide with international emissions-control laws. Government and policymakers across the globe increase their efforts to put cleaner transport system on road. Stricter emission laws have been imposed on the auto sector in several countries. As such, automakers are bound to increase their efforts towards electric mobility. The aforementioned factors are playing an important role in driving innovation in automotive pumps. Manufacturers are introducing low-friction pumps that not only facilitate lower fuel consumption, but are also budget-friendly and meet the required quality standards. Fuel injection in a major application of automotive pumps and hence manufacturers continue invest on further technological advancements in this category. Also, increased automation of vehicles is prompting manufacturers to develop automotive components pertinent with next-gen automotive technology. As a result, collaborations and partnerships between players are emerging as a major trend where technology companies are also recognizing growth opportunities. The changing technology landscape in the sector is expected to shape the future prospects of the global automotive pump market.
APEJ will remain the Largest Market for Automotive Pumps Over 2026
Asia Pacific excluding Japan (APEJ) is expected to dominate the global automotive pumps market in terms of revenue in 2017, and the trend is likely to continue in the year to follow. APEJ automotiv pumps market is set to surge at a CAGR of 5.1% during the forecast period. Economic boom and growth of the manufacturing industry have been the two major forces behind the growth of automotive sector in the region. As such that China now ranks among the largest automotive manufacturers in the world.
Fuel Supply Pumps to Represent a Leading Segment
Demand for fuel supply pump is expected to remain strong throughout the assessment period. In terms of revenue, global sales of fuel pumps currently account for more than 43% share of the market. By the end of 2026, over US$ 30,700 Mn worth fuel pumps are expected to be sold worldwide.
Electronic Automotive Pumps Will continue to Outsell Mechanical Pumps
Preference for electronic automotive pumps is expected to remain significantly higher as compared to mechanical pumps. Currently, global sales of electronic automotive pumps accounts for more than two-third share of the market. Increasing automation and popularity of electric powered automotive technology is supporting the adoption of electric automotive pumps.
Competition Tracking
Fact.MR in its report has profiled leading market players operating in the global automotive pumps market, which include Aisin Seiki Co. Ltd., Delphi Automotive, Denso Corporation, Robert Bosch Gmbh, Johnson Electric, KSPG AG-A, Mikuni Corporation, Magna International, TRW Automotive, SHW AG, Continental AG, Davies Craig, and Mahle Group.
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Table of Contents
1. Global Economic Outlook
2. Global Automotive Pumps Market - Executive Summary
3. Global Automotive Pumps Market Overview
3.1. Introduction
3.1.1. Global Automotive Pumps Market Taxonomy
3.1.2. Global Automotive Pumps Market Definition
3.2. Global Automotive Pumps Market Size (US$ Mn) and Forecast, 2012-2026
3.2.1. Global Automotive Pumps Market Y-o-Y Growth
3.3. Global Automotive Pumps Market Dynamics
3.4. Supply Chain
3.5. PESTLE Analysis
3.6. Porter's Five Forces
3.7. Pricing Analysis
3.8. Product Life Cycle
3.9. Key Participants Market Presence (Intensity Map by Region)
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