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Growth of Automotive Pump Market Projected to Amplify During 2016 - 2024

Growth of Automotive Pump Market Projected to Amplify During

An automotive pump was traditionally used to transfer automotive fluids to vehicles. However this pump has been growingly used for improving vehicle performance and fuel efficiency. Automotive pumps are utilized in many vehicle parts such as coolant, steering, transmission, lubrication and fuel.

The key driving factors ascertained for the global automotive pumps market are rising vehicle production, increasing execution of environmental regulations, growing vehicle electrification, and manufacturers increasing integration of advanced automation techniques such as automatic transmission and gasoline turbocharged direct injection into vehicles to restrict automobile emissions worldwide. These technologies need dedicated automotive pumps for ensuring effective operation. Changing lifestyles and rising urbanization have been enhancing development of the automobile industry, thus further driving the automotive pumps market. Besides, modern vehicles are furnished with smart technology and features complying with the newest emission, quality, safety and performance standards. On the contrary, end-use industries have become worth sensitive and tend to be inclined towards vehicles with superior luxury features at reasonable cost. Alongside this, growing demand for environment friendly services has ensured that manufacturers devise efficient automotive pumps.

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One of the major factors restraining the growth of the global automotive pumps market is the low replacement rates. With technological advancement, these rates are forecast to be further slashed. This offers low potential for aftermarket of automotive pumps manufacturers globally. Additionally, adoption of electrical power steering has increased in the recent past resulting in less share for automotive pumps aided steering systems. Such a replacement by electrical motors has been negatively impacting the steering pumps market. Despite this, the advanced automation technologies are predicted to gain in traction in the near future. Moreover, increasing concentration on performance by engines and rising customer demand for fuel-effective automobiles have been encouraging producers to implement the fuel injection structures, in turn creating vast potential for the pumps market.

The global automotive pumps market is segmented according to sales channel, product type, technology, and vehicle type. On the basis of sales channel, the market is segmented into OEM and aftermarket. On the basis of pump type, the market can be segmented into fuel supply pump, transmission oil pump, fuel injection pump, engine oil pump, coolant pump, steering pump, vacuum pump and windshield washer pump. The segments based on technology type are mechanical and electric. The categories on the basis of vehicle type are passenger cars, heavy commercial vehicles and light commercial vehicles. Due to rising income levels of the developed countries, passenger car automotive pumps is the fastest growing in the segment based on vehicle type.

On the basis of geography, the global automotive pumps can be divided into North America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Latin America, the Middle East and Africa (MEA), and Japan. APEJ and Western Europe together generally account for the majority of the market on the basis of value. Due to rising automobile parc and growing vehicle production in APEJ, this region is forecast to remain the foremost in the global market for automotive pumps in the future, followed by North America. Strict emission regulations, combined with rising demand for fuel-efficient automobiles and growing focus on OEMS expanding the market in this part of the world contribute towards the market growth in this part of the world. The most striking market on the basis of value is the MEA region, followed by Japan and APEJ regions. In terms of market share, North America is predicted to be the largest followed by Western Europe.

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The key players in the global automotive pump markets are Delphi Automotive, Aisin Seiki, Denso Corporation, Robert Bosch Gmbh, Johnson Electric, KSPG AG-A- Rheinmetall, Mikuni Corporation, Magna International, TRW Automotive and SHW AG.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

About US
Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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