Automotive Pumps Market by Pump Type (Fuel Injection, Fuel Supply, Engine Oil, Automotive Transmission Oil Pumps), by Technology (Electric & Mechanical Automotive Pumps), by Vehicle (Passenger Cars, HCV, LCV), by Sales Channel & Region – Global Forecast 2021-2031

Market Snapshot

According to Fact.MR, the global automotive pumps market surpassed a market value of nearly US$ 54 Bn in 2020. Increasing demand for vehicles with stringent regulations for the reduction in carbon emissions is driving the market growth for automotive pumps. Furthermore, the automotive pumps industry is anticipated to reach nearly US$ 98 Bn by surpassing a CAGR of almost 6%.

Key Points Covered in Automotive Pumps Industry Analysis

• Market estimates and forecast 2016-2031
• Key drivers and restraints impacting market growth
• Segment-wise, Country-wise, and Region-wise Analysis
• Competition Mapping and Benchmarking
• Market Share Analysis
• Key Product Innovations and Regulatory Climate
• COVID-19 Impact on Automotive Pumps Market and How to Navigate
• Recommendation on Key Winning Strategies

Automotive Pumps Revenue Analysis 2016-2020 Vs Future Outlook 2021-2031

As per Fact.MR- a market research and competitive intelligence provider, historically, between 2016 and 2020, the global market for automotive pumps expanded at around 4% CAGR, surpassing a market value of US$ 54 Bn by 2020.

Manufacturers of automotive pumps are focusing on applying advanced automation technologies. In addition, the increasing demand from the end users will propel the sales of automotive pumps.

Thus, in the assessment period, the automotive pumps industry is expected to surpass US$ 98 Bn and surpassing a CAGR of 6% in the forecast period 2021-2031.

How is the Scramble for Low Emissions Spurring Automotive Pumps Demand?

Increasing vehicle usage across the globe, lined with the adoption of innovative technologies to produce fuel efficient vehicles that adhere to VOC (volatile organic compound) emission regulations is expected to significantly contribute to the growth of the market for automotive pumps.

Various automakers and manufacturers are heavily investing in R&D and production of automotive components by integrating smart technologies such as automatic transmission, gasoline direct injection, and gasoline turbocharger which require automotive pumps for optimum functioning. This factor will possibly create potential growth prospects of the automotive pumps market.

Will Introduction of Power Components in Vehicles Stimulate Automotive Pumps Demand?

Increased purchasing power of individuals due to rising disposable incomes, especially in emerging economies, has been encouraging automakers to focus on mid-sized and compact cars. Introduction of premium aspects such as easy gear shift, power steering, anti-lock braking system (ABS), and cabin comfort system in these cars are expected to present opportunities for the use of customized automotive pumps.

As consumers seek high-performance vehicles which are fuel-efficient as well as lightweight, continuous product innovations are readily adopted for automotive pumps which play a vital role in enhancing the energy efficiency of vehicles. Adoption of variable automotive displacement oil pumps that enable circulation of maximum oil through all engine parts and absorption of heat generated may complement the overall expansion of demand.

Which Challenges Limit Automotive Pumps Adoption?

With significant implementation of advanced technologies in product development, there has been a decrease in replacement rate of automotive pumps, which is likely to minimize the aftermarket potential of these products in the foreseeable future. This is considered to be one of the critical factors hampering the growth of automotive pumps market.

Due to rising global concerns regarding carbon and VOCs emissions, governments and regulatory bodies are constantly making efforts to reduce air pollution caused by automotive and other industries. This has led to rise in the adoption of electric vehicles run by electric engine and are independent of internal combustion engines, which in turn is likely to negatively affect the growth of automotive pumps market in the future.

Country-wise Analysis

What Growth Prospects Abound across the Asian Market?

As per Fact.MR’s industry analysis, the demand of the automotive pumps in the Asian market is expected to surpass a CAGR of 5.7% over the forecast period by possessing a market share exceeding 40%.

Urbanization and increasing population in countries such as India and China has increased the sales of vehicles in the region. This, in turn, has positively affected the sales of automotive pumps. In addition, manufacturers in the region are focusing on automotive pumps that would increase the fuel efficiency.

Why is Europe Attracting Automotive Pumps Manufacturers?

Europe is the manufacturing hub for production units of vehicles. Germany is the leading country in Europe, especially for electric vehicles. Thus, the demand for automotive pumps has increased in the region.

In addition, redesigning of automotive pumps is driving the sales for the automotive pumps industry. Thus, Europe is expected to hold more than 30% of market share for automotive pump sales.

Category-wise Insights

Why are Electric Automotive Pumps Gaining Popularity?

Development of electric pumps has quickly replaced mechanical pumps by winning preferences of automakers worldwide. Electric automotive pumps are independent of combustion engine operations and can be controlled whenever required with higher precision.

With higher performance standards, electric automotive pumps are highly sought after and are expected to represent over 2/3rd of the market share as compared to mechanical automotive pumps during the forecast period.

How are Automotive Fuel Supply Pumps Gaining Momentum?

The development of the automotive industry is significantly influenced by evolving emission standards as well as rising sales of automobiles across world regions.

Consumers are seeking high-performance vehicles that are light-weight and fuel efficient. The crucial role of automotive pumps in enhancing the engine efficiency has increased the investments in R&D to develop advanced automotive pumps. That said, the fuel supply segment is expected to continue its dominance, exceeding US$ 30 Bn by 2031 end.

Competitive Landscape

• In January 2019, HELLA KGaA Hueck & Co. and Plastic Omnium entered into a strategic cooperation to accelerate the holistic integration of lighting technologies into the vehicle exterior, for both front and rear parts. The new partnership is also aimed at providing the market with combined solutions and technologies.
• In December 2018, Aisin Seiki and DENSO Corporation announced an agreement to form a new company for development and selling driving modules used for electric vehicles. The new company will be established in April 2019 under the name BluE Nexus.
• In June 2017, Delphi Automotive Plc. entered into partnership with Transdev, a French-based international private public transport company, to develop a global, fully-automated, mobility-on-demand (AMoD) transport system. The new joint venture will further extend to development of Self-Driving Buses, beginning with two pilot projects in France.

Report Scope

Key Segments Covered

• 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

• Technology Type

  • Electric Automotive Pumps
  • Mechanical Automotive Pumps

• Vehicle Type

  • Automotive Pumps for Passenger Card
  • Automotive Pumps for HCV
  • Automotive Pumps for LCV

• Sales Channel

  • Automotive Pumps Sales via OEM
  • Automotive Pumps Sales via Aftermarket