Global Automotive Pumps Market to Surpass a Valuation of US$ 75,200 Mn By 2026-End
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Greater emphasis is being placed on developing advanced automotive technologies that can address the issues of carbon emission and energy consumption. Manufacturers are actively focusing on development of cost-effective and low-friction pumps that allow vehicles to reach higher fuel efficiency without compromising performance. Moreover, growing pressure from international environmental groups coupled with launch of initiatives at global level such as the Paris Agreement is compelling the auto industry to move towards technologies that are sustainable and green. In many parts of world, road transportation systems are being revamped and realigned with policies that are directed towards tackling air pollution and global warming. With stricter emission laws in place, the industry is set to witness a shift towards electric mobility in the forthcoming years. However, internal combust is expected to remain the primary automotive technology at least for the next couple of decades, hence, manufacturers of fuel injection pumps are likely to remain focused on enhancing their product efficacy. Meanwhile, increased level of automation in passenger cars is expected create new growth avenues form market players during the forecast period. In addition, increasing collaboration between technology companies and carmakers is resulting in development of future-ready vehicular systems. Factor as such are expected to influence the global market for automotive during the assessment period.
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Additional Highlight from the Report Include:
1. The automotive pump market in Asia Pacific excluding Japan (APEJ) is expected to remain highly lucrative throughout the projection period. The region’s market is expected to increase at a CAGR of 5.1% during the forecast period.
2. On the basis of pump type, the fuel supply segment is expected to remain highly profitable in the 2018 and beyond. Currently, the segment accounts for more than 43% revenue share of the global market and is estimated to reach a valuation in excess of US$ 30,700 Mn by 2026.
3. Based on technology type, the electric segment will retain its leading position over 2026. The segment currently commands for more than two-third revenue share of the market and is projected to exhibit a CAGR of 4.8% during the forecast period.
4. Based on vehicle type, the LCV segment is will continue to hold it dominant position over the next couple of years. The segment currently represents a market valuation of over US$ 7,800 Mn. Between 2017 and 2026, the segment is projected to increase at a CAGR of 5.6%.
5. On the basis of sales channel, the OEM segment is expected to surpass a market valuation of US$ 54,900 Mn by 2026, expanding at CAGR of 4% during the assessment period.
Some of the leading companies operating in the global market for automotive pumps include Aisin Seiki Co. Ltd., Denso Corporation, Johnson Electric, Mikuni Corporation, TRW Automotive, Davies Craig, Delphi Automotive, Robert Bosch Gmbh, KSPG AG-A, Magna International, SHW AG, Continental AG, and Mahle Group.
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