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Overview of Global Automotive Pumps Market: Size, Trends, Share and Growth Forecast till 2026
Fact.MR
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Inconsistent fuel supply has continued to hinder the performance of vehicles. As the need for reliable and consistent fuel supply persist, demand for automotive pumps will rev up in the automotive industry. Automotive pumps are mainly used for steering system, fuel system, lubrication system, transmission system, and coolant system. Banking on the growing requirements of the potential customers, major automotive manufacturers are concentrating on integrating innovative features in the automotive fuels for enhanced performance.
In order to improve customer experience, major manufacturers are concentrating on integrating smart technological features. Major manufacturers are incorporating sensors that ensure that the vehicle fluids are at the optimal pressures. Also, manufacturers are aiming to develop light-weight and compact automotive pump designs to improve the fuel economy of the vehicles. Through product differentiation and innovation, major companies are concentrating on attaining a competitive edge in the global market.
APEJ will remain the Largest Market for Automotive Pumps Over 2026
Asia Pacific excluding Japan (APEJ) is expected to dominate the global automotive pumps market in terms of revenue in 2017, and the trend is likely to continue in the year to follow. APEJ automotiv pumps market is set to surge at a CAGR of 5.1% during the forecast period. Economic boom and growth of the manufacturing industry have been the two major forces behind the growth of automotive sector in the region. As such that China now ranks among the largest automotive manufacturers in the world.
Fuel Supply Pumps to Represent a Leading Segment
Demand for fuel supply pump is expected to remain strong throughout the assessment period. In terms of revenue, global sales of fuel pumps currently account for more than 43% share of the market. By the end of 2026, over US$ 30,700 Mn worth fuel pumps are expected to be sold worldwide.
Electronic Automotive Pumps Will continue to Outsell Mechanical Pumps
Preference for electronic automotive pumps is expected to remain significantly higher as compared to mechanical pumps. Currently, global sales of electronic automotive pumps accounts for more than two-third share of the market. Increasing automation and popularity of electric powered automotive technology is supporting the adoption of electric automotive pumps.
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Sales of the automotive pumps will remain high through OEM channels. The OEM channels are expected to represent a significant revenue growth in the global market by the end of 2026. In addition, sales of automotive pumps is projected to witness the fastest growth in the global market through 2026.
Leading players in the global market are Mahle Group, Davies Craig, Continental AG, SHW AG, TRW Automotive, Magna International, Mikuni Corporation, KSPG AG-A, Johnson Electric, Robert Bosch Gmbh, Denso Corporation, Delphi Automotive, and Aisin Seiki Co. Ltd.
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About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized Automotive Market Reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
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