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Automotive Pumps Market to Surpass $28.72 Billion by 2029 | Key Trends & Insights
Automotive Pumps Market
How Will the Automotive Pumps Market Grow by 2025 in Terms of Size and Growth?
The market size for automotive pumps has experienced consistent growth in the past few years. The market is projected to rise from a value of $22.2 billion in 2024 to an estimated $23.08 billion in 2025, reflecting a compound annual growth rate (CAGR) of 4.0%. Factors contributing to this growth in the past included increasing demand for fuel-efficient and low-emission vehicles, shifts in consumer preferences and driving habits, government regulations and safety standards, along with enhancements in production processes.
What Are the Estimated Growth Rates for the Automotive Pumps Industry Through 2029?
The size of the automotive pumps market is predicted to experience robust growth in the coming years, reaching a valuation of $28.72 billion in 2029 with a CAGR of 5.6%. Various factors contributing to this growth during the forecast period include heightened demand for electric and hybrid vehicles, amplified attention to sustainability and emissions reductions, vehicle electrification, shifting focus on electric and hybrid powertrain technologies, and rising demand for electric and fuel cell vehicles. Other significant trends identified for the forecast period are the creation of more energy-efficient pumps, utilization of cutting-edge materials for pump parts, the introduction of variable-speed pump technologies, increased use of electrified cooling and lubrication systems, and reducing the size of pumps for more compact and lightweight designs.
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What Are the Strategic Drivers Boosting Automotive Pumps Market Performance?
The surge in vehicle electrification is anticipated to boost the automotive pump market's expansion. Automotive pumps, devices that use mechanical force or electric power from a motor to lift, compress, or transfer fluids within the vehicle's operations system, are key in this context. High fuel costs are leading commuters to seek out less expensive alternatives. The cost-effective and zero-emission nature of electric vehicles is leading to their increased adoption. For instance, the growth in electric vehicle sales in 2022 elevated the global total number of electric vehicles to 26 million - a rise of 60% compared to 2021. As such, vehicle electrification's ongoing increase is playing a significant role in driving the automotive pump market's upward trend.
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What Are the Segments in the Automotive Pumps Market?
The automotive pumps market covered in this report 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, PHEV
3) By Technology Type: Electric Automotive Pumps, Mechanical Automotive Pumps
Subsegments:
1) By Automotive Fuel Injection Pumps: Electronic Fuel Injection (EFI) Pumps, Mechanical Fuel Injection Pumps
2) By Automotive Fuel Supply Pumps: In-tank Fuel Pumps, Inline Fuel Pumps
3) By Automotive Engine Oil Pumps: Gear-Type Oil Pumps, Rotor-Type Oil Pumps, Variable Displacement Oil Pumps
4) By Automotive Transmission Oil Pumps: Automatic Transmission Oil Pumps, Manual Transmission Oil Pumps
5) By Automotive Coolant Pumps: Mechanical Coolant Pumps, Electric Coolant Pumps
6) By Automotive Steering Pumps: Hydraulic Steering Pumps, Electric Power Steering Pumps
7) By Automotive Vacuum Pumps: Diaphragm Vacuum Pumps, Rotary Vane Vacuum Pumps
8) By Automotive Windshield Washer Pumps: Electric Washer Pumps, Manual Washer Pumps
What Are the Key Adoption Trends in the Automotive Pumps Market?
The increasing implementation of innovative technologies is becoming a significant trend in the automotive pump sector. Cutting-edge technology such as the CVT oil pump offers exact and sustained hydraulic pressure. This CVT oil pump is a part of the continuously variable transmission systems that offer hydraulic pressure to manage and initiate the pulleys and belts of the transmission, providing efficient and smooth gear shifting. For instance, in August 2023, a Japan-based auto parts maker, Nidec Power Train Systems, introduced an electric oil pump specifically crafted for use in Continuously Variable Transmissions (CVTs). The key feature of this oil pump is the incorporation of an efficient, high-pressure-range vane pump, designed to provide oil pressure to the CVT system when the vehicle is in idle-stop mode, giving support to the engine-driven mechanical oil pump. The pump has a unique control system which modulates motor output according to load conditions, ensuring a hydraulic supply range from 0.3 to 4 MPa.
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Which Companies Lead the Competitive Landscape of the Automotive Pumps Industry?
Major companies operating in the automotive pumps market include Aisin Seiki Co. Ltd., Denso Corporation, Robert Bosch GmbH, Johnson Electric Holdings Limited, KSPG AG, Magna International Inc., SHW AG, ZF Friedrichshafen AG, Continental AG, Concentric AB, Hella KGaA Hueck & Co., Seiki Co. Ltd., Valeo SA, Hitachi Automotive Systems Ltd., JTEKT Corporation, Magneti Marelli SpA, Delphi Technologies plc, TI Automotive Inc., Rheinmetall Automotive AG, MS Motorservice International GmbH, GMB Corporation, Pierburg GmbH, Mahle GmbH, BorgWarner Inc., Schaeffler AG, Mikuni Corporation, Bosch Mahle Turbo Systems GmbH & Co KG, SMP Deutschland GmbH, Melling Engine Parts, Gates Corporation
Where Are the Key Automotive Pumps Market Opportunities by Region?
Asia-Pacific was the largest region in the automotive pumps market in 2024 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, Africa
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