Automotive Pumps Market Poised for Robust CAGR of over 3.8% through 2025

Modern automobiles are equipped with smart features and technology that comply with the latest emission, safety, quality and performance standards. On the flipside, end users have become price sensitive and are inclined towards automobiles with superior comfort features at reasonable costs. Over the last decade, manufacturers have integrated various technologies such as gasoline turbochargers, power steering, automatic transmission and gasoline direct injection into automotive. These, in turn, require dedicated automotive pump to ensure efficient operation. These technologies are expected to gain traction over the following decade and in turn, are anticipated to drive growth of the automotive pumps market. Increasing urbanisation and changing lifestyles are bolstering growth of the global automobile industry, thereby driving the market for automotive pumps.

The global automotive pumps market has been estimated to be valued at US$ 44,569.72 Mn in 2015, which is anticipated to increase at a CAGR of 3.8% during the forecast period (2015–2025). This is expected to attract global manufacturers to invest in this market. Availability of electric motors as a substitutes for automotive pumps poses a threat to the global automotive pumps market. Also, with advancements in technology, replacement rate is expected to further reduce over the forecast period. This offers very low aftermarket potential for automotive pump manufacturers across the globe.

Drivers & Trends

Increasing vehicle production, rising vehicle electrification, growing implementation of environmental regulations and increasing adoption of advanced automotive technologies such as gasoline direct injection and automatic transmission are some of the major factors contributing to growth of the global automotive pumps market.

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Also, rising focus on engine performance, compliance with stringent regulations regarding vehicular emissions and increasing consumer demand for fuel-efficient vehicles are encouraging manufacturers to integrate advanced fuel injection systems such as Gasoline Turbocharged Direct Injection (GTDI), thereby opening up wide potential for vacuum pumps.

Adoption of electric power steering is increasing leading to lower share for pump assisted steering systems. This replacement by electric motor is adversely affecting the market for steering pumps.

Analysis by Geography

Geographically, the global automotive pumps market is segmented into seven regions: North America, Eastern Europe, Western Europe, Asia Pacific excluding Japan (APEJ), Middle East and Africa, Latin America and Japan of which the most prominent regional markets are Western Europe and APEJ which together have been estimated to account for 53.4% of the market in terms of value in 2015.

APEJ is expected to remain dominant in global automotive pumps market throughout the forecast period, owing to increasing automotive production and growing vehicle parc in the region. MEA region is the most attractive market in terms of growth rate, followed by APEJ and Japan regions for automotive pumps during the forecast period.

The market in North America is expected to account for US$ 11,520.40 Mn by 2025 end. Western Europe is expected to be the second-largest market, expected to account for significant market share by the end of 2025.

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In this report, the two wheelers pumps market has been segmented on the basis of pump type and region. On the basis of basis of pump type, the market is segment into engine oil pump, coolant pump, and fuel injection pump. On the basis of region, the market is segmented into seven regions namely North America, Eastern Europe, Western Europe, Asia Pacific excluding Japan (APEJ), Middle East and Africa, Latin America and Japan.

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This release was published on openPR.