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Demand for Automotive Pumps Market to Reach Valuation of US$ 48 Bn by 2022

07-14-2021 09:33 PM CET | Tourism, Cars, Traffic

Press release from: Fact.MR

In the view of higher adoption of green technologies, OEMs are shifting their production procedures for automotive pumps. Within a couple of years, automotive pumps will be available integrated with multiple functions. While such automotive pumps will improve the performance of the vehicle, they will lower the product portfolio of pump manufacturers. The global market for automotive pumps is also expected to witness sluggish growth on the account of rising raw material prices associated with production of automotive pumps.

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The Fact.MR report on the global automotive pumps market predicts that by the end of 2017, the global market will be valued at nearly US$ 48 Bn. The market will, however, soar at a steady pace, reflecting steady CAGR to reach US$ 60 Bn.

Following highlights offer an insightful outlook on the expansion of global automotive pumps market during 2017-2022.

• According to the report, the global market for automotive pumps will acquire highest share of revenues from the Asia-Pacific excluding Japan (APEJ) region. In consideration of large automobile manufacturing hubs such as China and South Korea situated in this region, the APEJ market for automotive pumps will account for over one-third share on the global market revenues throughout the forecast period.
• The demand for automotive pumps is anticipated to be the lowest in Europe. By 2022, the sales of automotive pumps in Europe will have soared languidly, reflecting a listless CAGR.

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• North America’s automotive pumps market, too, is expected to witness decelerated sales of automotive pumps in 2017, harvesting revenues just over US$ 10 Bn. Conversely, the demand for automotive pumps in Japan will be relatively more exceeding than that in the US and Canada. The automotive pumps market in Japan is poised to set forth a moderate CAGR over the forecast period.

Global Automotive Pumps Market Segments

This section provides a detailed automotive pumps market breakdown based on various segments.

A historical analysis of each segment along with the forecast has been provided in the chapter.

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On the basis of pump type, the global automotive pumps market has been segmented into:
• Fuel Injection
• Fuel Supply
• Engine Oil
• Transmission Oil
• Coolant
• Steering
• Vacuum
• Windshield Washer

Based on technology type, the global automotive pumps market has been segmented into:
• Electric
• Mechanical

Read More Trending and Similar Reports from Fact.MR – https://www.globenewswire.com/en/news-release/2020/03/13/2000340/0/en/Golf-Cart-Sales-Remain-Concentrated-in-APEJ-Electrically-Powered-Carts-Gaining-Prominence-Finds-a-New-Fact-MR-Study.html

The report profiles leading players in the global market, which include companies such as Delphi Automotive Plc., Denso Corporation, Magna International Inc., Robert Bosch Limited, Magneti Marelli SpA, Rheinmetall Automotive AG, AISIN SEIKI Co. Ltd., Mikuni Corporation, Concentric AB, ZF Friedrichshafen AG, and Pricol Limited.

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Content Source: https://www.factmr.com/media-release/15/automotive-pump-market

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