Early impacts of COVID 19 on Automotive Pumps Market

The ongoing COVID-19 pandemic--and the worldwide reaction to it--has compelled companies to radically rethink their strategies and the way they operate. We salute the industry experts helping companies survive and sustain in this pandemic.

At MarketsandMarkets(TM), analysts are undertaking continuous efforts to provide analysis of the COVID-19 impact on the Automotive Pumps Market. We are working diligently to help companies take rapid decisions by studying:

o The impact of COVID-19 on the Automotive Pumps Market, including growth/decline in product type/use cases due to the cascaded impact of COVID-19 on the extended ecosystem of the market
o The rapid shifts in the strategies of the Top 50 companies in the Automotive Pumps Market
o The shifting short-term priorities of the top 50 companies' clients and their client's clients

You can request an in-depth analysis detailing the impact of COVID-19 on the Automotive Pumps Market:
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According to the recent report "Automotive Pumps Market by Type (Fuel Pump, Water Pump, Vacuum Pump, Fuel Injection Pump, Steering Pump, & Headlight Washer Pump), Technology, Displacement, Vehicle Type (PC, LCV, HCV), EV (BEV, HEV, PHEV, FCEV), Region - Global Forecast to 2027" published by MarketsandMarkets(TM), Automotive Pumps Market to grow from USD 16.3 billion in 2019 to USD 26.5 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 6.7% during the forecast period.

The major factors driving the growth of the market are fluctuating fuel prices that have increased the demand for fuel-efficient vehicles and increasing pressure on automakers to comply with the emission norms. In addition, the consistent growth in the demand for passenger cars is likely to trigger the growth of the automotive pumps market during the forecast period. Also, heavy investments in R&D activities by vehicle manufacturers to develop efficient fluid technology for automotive are expected to push the growth of the market. Infrastructural development in emerging countries is expected to drive the growth of commercial vehicles, which in turn would boost the demand for automotive pumps.

Browse in-depth TOC on "Automotive Pumps Market"
232 - Tables
67 - Figures
205 - Pages

The major market players include Aisin Seiki (Japan), Delphi (UK), Denso (Japan), Johnson Electric (Hong Kong), Bosch (Germany), KSPG (Germany), Magna (Canada), SHW (Germany), and ZF (Germany) among others.

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By Technology: Mechanical pump is expected to be the largest segment in the market

The mechanical pump is anticipated to be the largest market during the forecast period. Mechanical automotive pumps use mechanical force to pump the fluid, whereas electric pumps utilize electric energy from a motor to pump the fluid. Mechanical pumps, also known as geared pumps, are mechanically driven through drive belts or the camshaft and derive power from the engine of a vehicle. However, the mechanical pump market is expected to grow slowly in the coming years as electrical pumps are increasingly used in place of mechanical pumps to make automobiles more efficient.

An electric segment is the fastest-growing segment of the automotive pumps market during the forecast period

Electric pumps, which work with the help of electric motors, are gradually replacing mechanical pumps. The use of electric pumps is increasing due to their many advantages over mechanical pumps. The electric fuel pump provides more fuel efficiency as compared to the mechanical fuel pump. However, the installation of an electric pump requires a sophisticated electrical circuit, which increases the cost. Major global automakers are now using electric pumps in vehicular architecture.

By Vehicle Type: HCV is expected to be the fastest-growing segment in the automotive pumps market

The heavy commercial vehicle segment comprises buses and trucks. Emerging countries such as China, Brazil, Iran, and India among others have witnessed a rapid development of infrastructure in the recent past. This has inflated the demand for commercial vehicles for heavy-duty applications. Also, economic growth in these countries has enhanced the ease of doing business and paved the way for many start-ups. The growth of the transport industry has boosted the HCV market. These factors have fueled the growth of the HCV market.

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The Asia Pacific is expected to account for the largest market size during the forecast period

The Asia Pacific region is estimated to be the largest market by 2027. The region comprises some of the fastest developing economies of the world such as China and India. Also, the Asia Pacific region is the largest market for automotive as the growing purchasing power of consumers has triggered the demand for automobiles in the region. Also, the increasing sales of commercial vehicles and passenger cars in the region are driving 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 concerns have forced major vehicle manufacturers to shift focus toward low fuel consuming vehicles. Hence, Asia Pacific is expected to show incremental growth in the market during the forecast period. Moreover, the high demand for passenger cars in fast emerging countries of the region is likely to drive the growth of the Asia Pacific market during the forecast period.

Rest of the World (RoW): Brazil is expected to be the fastest-growing country in the Rest of the World region by 2027

The RoW region is estimated to be the fastest-growing market during the forecast period. The region comprises some of the fastest developing economies of the world such as Brazil, Iran, and South Africa. The increased spending power in Brazil and South Africa has increased the demand for passenger cars. Growing concerns about ecological imbalance because of excessive emissions by automobiles have compelled automakers to comply with the emission mandates. These factors are responsible for the growth of the automotive pumps market in the RoW region.

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