Automotive Pump Market worth $27.02 billion by 2032, Globally, at a CAGR of 5.5%, says Allied Market Research

According to a new report published by Allied Market Research, titled, "Automotive Pump Market," The automotive pump industry was valued at $16.4 billion in 2022, and is estimated to reach $27 billion by 2032, growing at a CAGR of 5.5% from 2023 to 2032.

The global automotive pumps market has seen significant growth and change due to rising fleet of electric and hybrid vehicles, stringent government regulations on emission norms. In addition, technological advancement in automotive pumps, development of autonomous vehicles presents significant opportunities for market expansion.

🟢𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-sample/A08905

The surge in the production and sales of vehicles, coupled with growing urbanization, infrastructure development, and the need for energy-efficient vehicles are driving the requirement for automotive pumps. The hybrid electric vehicle demand across the globe is anticipated to witness a strong growth rate during the forecast period due to rising environmental concerns and fuel saving. Recent technological advancement has resulted in the development of hybrid vehicle technology for SUVs and larger-size vehicles, which are significantly propelling the growth of the automotive pumps.

In addition, the market is highly competitive, with several key players dominating the industry. Prominent manufacturers focus on innovation, product differentiation, and strategic partnerships to maintain their market positions.

As international automobile manufacturers extend their reach and consumers' purchasing power for new cars grows, the demand for passenger vehicles is experiencing significant growth. Enhanced lifestyles and economic conditions are driving shifts in consumer preferences worldwide. With rising purchasing power and disposable income, increased brand visibility, and competition among OEMs to provide enhanced features, it is anticipated that the automotive pumps will experience growth during the forecast period as they are deployed in the vehicle engine to increase the overall efficiency of the cars.

The increasing disposable income in developed and developing nations, together with the ongoing advancements in infrastructure, are anticipated to drive the market growth. Commercial vehicle manufacturers such as Tata Motors Ltd., Mahindra and others, have been driven to design vehicles with lower carbon emissions as a result of growing consumer awareness of environmentally friendly transportation options. Manufacturers are attempting to reduce size and load factors, innovate vehicle design, and modify vehicles in compliance with weight standards due to which advanced pumps are deployed in these vehicles.

𝐓𝐡𝐞 𝐟𝐮𝐞𝐥 𝐢𝐧𝐣𝐞𝐜𝐭𝐢𝐨𝐧 𝐩𝐮𝐦𝐩 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐬𝐭𝐚𝐭𝐮𝐬 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

Based on type, the fuel injection pump segment held the highest market share in 2022, registering a CAGR of 5.2% as the fuel injection pumps regulates the quantity of fuel delivered, ensuring that the engine receives the right amount of power. However, the water pump segment is witnessing a highest CAGR of 6.4% from 2023 to 2032, owing to the rise in trend toward engine downsizing to enhance fuel efficiency and reduce emissions.

𝐓𝐡𝐞 𝐦𝐞𝐜𝐡𝐚𝐧𝐢𝐜𝐚𝐥 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐬𝐭𝐚𝐭𝐮𝐬 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

Based on technology, the mechanical segment held the highest market share in 2022 registering a CAGR of 5.2% as the mechanical fuel pumps operate by using a suction mechanism to draw fuel from the tank's bottom. A diaphragm is responsible for creating this suction, and a valve prevents the fuel from returning to the tank after the pump is filled. This mechanism is very important for proper functioning of the vehicles. The electric segment is estimated to reach a CAGR of 5.9% during the forecast period owing to surge in fleet of electric vehicles. Countries such as China, India, Australia, and Japan are placing a strong emphasis on environmental awareness and the adoption of new technologies, fostering the expansion of high-performance electric vehicles.

🟢𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/A08905

𝐓𝐡𝐞 𝐩𝐚𝐬𝐬𝐞𝐧𝐠𝐞𝐫 𝐯𝐞𝐡𝐢𝐜𝐥𝐞 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝 𝐩𝐨𝐬𝐢𝐭𝐢𝐨𝐧 𝐝𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

Based on vehicle type, the passenger vehicle segment accounted for the largest share in 2022 and is estimated to maintain its leadership status throughout the forecast period registering a CAGR of 5.8%, owing to enhanced lifestyles and economic conditions which is driving shifts in consumer preferences worldwide. The automotive pumps market is expected to experience growth during the forecast period with rise in purchasing power and disposable income, increased brand visibility, and competition among OEMs to provide enhanced features, as they are deployed in the vehicle engine to increase the overall efficiency of the cars.

𝐓𝐡𝐞 𝐎𝐄𝐌 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝 𝐩𝐨𝐬𝐢𝐭𝐢𝐨𝐧 𝐝𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

Based on sales channel, the OEM segment accounted for the largest share in 2022 and is estimated to maintain its leadership status throughout the forecast period registering a CAGR of 5.7%, as the pumps play a central role in thermal management systems, facilitating the circulation of the appropriate coolant volume. The contribution of electric water pumps in supplying coolant as required plays a key role in lowering the fuel consumption of traditional powertrains. This increases the sales of pumps in automotive applications.

𝐀𝐬𝐢𝐚-𝐏𝐚𝐜𝐢𝐟𝐢𝐜 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐝𝐨𝐦𝐢𝐧𝐚𝐧𝐜𝐞 𝐛𝐲 𝟐𝟎𝟑𝟐

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022 and is estimated to maintain its leadership status throughout the forecast period, the implementation of numerous government campaigns, the proliferation of hybrid electric vehicle (HEV) models, and continuous improvement in battery technology are collectively propelling the automotive pumps market. However, LAMEA is expected to witness the fastest CAGR of 7.9% from 2023 to 2032, owing to rise in disposable income and increase in the production and sales of four- wheelers.

🟢𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/automotive-pump-market/purchase-options

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬: -

GMB Corporation
Schaeffler Technologies AG & Co. KG
Mitsubishi Electric Corporation
Aisin Seiki Co., Ltd.
MAHLE GmbH
Aisan Industry Co., Ltd.
Continental AG
Valeo
Robert Bosch GmbH
Johnson Electric Holdings Limited

𝐂𝐨𝐧𝐭𝐚𝐜𝐭:
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𝐀𝐛𝐨𝐮𝐭 𝐮𝐬 :

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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