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Global Automotive Pumps Market Recent Development And Future Growth Forecast To 2031
Automotive Pumps Market
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The global automotive pumps market report by the business research company the rising electrification of vehicles to be a major growth driver for the automotive pumps market. An automotive pump is a device that functions by lifting, compressing, or transferring fluids around the vehicle's operating system by using mechanical force or electric energy from a motor. An increase in fuel costs is persuading commuters to look at cheaper alternatives. Electric vehicles are a zero-emission and economical option that is gaining popularity. For instance, as of 2020, there were 10 million electric vehicles on the roads globally. In 2020, global electric car sales reached about 3 million, with new electric car registrations increasing by 40%. Thus, the rising electrification of vehicles is driving the growth of the automotive pump market.
The global automotive pumps market is expected to grow from $18.95 billion in 2021 to $19.76 billion in 2022 at a compound annual growth rate (CAGR) of 4.25%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The automotive pumps market is expected to reach $24.34 billion in 2026 at a CAGR of 5.35%.
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Asia Pacific was the largest region in the automotive pumps market in 2021 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the automotive pumps market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Major players in the automotive pumps market are Aisin Seiki, Denso Corporation, Robert Bosch GmbH, Johnson Electric, KSPG AG, ZF, Continental AG, Concentric AB, HELLA KGaA Hueck & Co., Seiki Co. Ltd, Valeo, Hitachi Automotive Systems Ltd., JTEKT Corporation, Magneti Marelli S.p.A, Pricol Ltd., TI Automotive Ltd, Rheinmetall Automotive AG, The Sherwin-Williams Company, and Mikuni Corporation
The global automotive pumps market is segmented -
1) By Pump Type: Automotive Fuel Injection Pumps, Automotive Fuel Supply Pumps, Automotive Engine Oil Pumps, Automotive Transmission Oil Pumps, Automotive Coolant Pumps, Automotive Steering Pumps, Automotive Vacuum Pumps, Automotive Windshield Washer Pumps
2) By Electric Vehicle Type: BEV, FCEV, HEV, PHEV3) By Technology Type: Electric Automotive Pumps, Mechanical Automotive Pumps
4) By Sales Channel: OEM, Aftermarket
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The Automotive pumps market Report Contents Include
1. Executive Summary
2. Automotive Pumps Market Characteristics
3. Automotive Pumps Market Trends And Strategies
4. Automotive Pumps Market - Macro Economic Scenario
5. Automotive Pumps Market Size And Growth
......
26. Africa Automotive Pumps Market
27. Automotive Pumps Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Automotive Pumps Market
29. Automotive Pumps Market Future Outlook and Potential Analysis
30. Appendix
This report covers the trends and market dynamics of the automotive pumps market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.
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