Press release
Overview of Global Automotive Pumps Market: Insights on Trends, Drivers and Opportunities until the End of 2026
Fcat.MR
The scope of FactMR’s report is to analyze the global automotive pumps market for the forecast period 2017-2026 and provide readers an unbiased and accurate analysis. Automotive pumps manufacturers, stakeholders, and suppliers in the global consumer goods sector can benefit from the analysis offered in this report. This report offers a comprehensive analysis, which can be of interest to leading trade magazines and journals pertaining to automotive pumps.
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Inconsistent fuel supply has continued to hinder the performance of vehicles. As the need for reliable and consistent fuel supply persist, demand for automotive pumps will rev up in the automotive industry. Automotive pumps are mainly used for steering system, fuel system, lubrication system, transmission system, and coolant system. Banking on the growing requirements of the potential customers, major automotive manufacturers are concentrating on integrating innovative features in the automotive fuels for enhanced performance.
In order to improve customer experience, major manufacturers are concentrating on integrating smart technological features. Major manufacturers are incorporating sensors that ensure that the vehicle fluids are at the optimal pressures. Also, manufacturers are aiming to develop light-weight and compact automotive pump designs to improve the fuel economy of the vehicles. Through product differentiation and innovation, major companies are concentrating on attaining a competitive edge in the global market.
Sales of the automotive pumps will remain high through OEM channels. The OEM channels are expected to represent a significant revenue growth in the global market by the end of 2026. In addition, sales of automotive pumps is projected to witness the fastest growth in the global market through 2026.
FactMR’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.
Additional Highlight from the Report Include:
The automotive pump market in Asia Pacific excluding Japan (APEJ) is expected to remain highly lucrative throughout the projection period. The region’s market is expected to increase at a CAGR of 5.1% during the forecast period.
On the basis of pump type, the fuel supply segment is expected to remain highly profitable in the 2018 and beyond. Currently, the segment accounts for more than 43% revenue share of the global market and is estimated to reach a valuation in excess of US$ 30,700 Mn by 2026.
Based on technology type, the electric segment will retain its leading position over 2026. The segment currently commands for more than two-third revenue share of the market and is projected to exhibit a CAGR of 4.8% during the forecast period.
Based on vehicle type, the LCV segment is will continue to hold it dominant position over the next couple of years. The segment currently represents a market valuation of over US$ 7,800 Mn. Between 2017 and 2026, the segment is projected to increase at a CAGR of 5.6%.
On the basis of sales channel, the OEM segment is expected to surpass a market valuation of US$ 54,900 Mn by 2026, expanding at CAGR of 4% during the assessment period.
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.
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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.
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
FactMR 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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About FactMR
FactMR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized Automotive Market 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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