Automotive Pumps Market

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

Automotive Pumps Market- Scope of Report

A recent study by Fact.MR on the automotive pumps market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering automotive pumps.

The study also provides the dynamics responsible for influencing the future status of the automotive pumps market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.

A list of prominent companies operating in the automotive pumps market, along with their product portfolios, enhances the reliability of this comprehensive research study.

Report Summary

The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of automotive pumps across the globe.

A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of automotive pumps during the forecast period. Price point comparison by region with global average price is also considered in the study.

Market Segmentation

Fact.MR has studied the automotive pumps market with detailed segmentation on the basis of pump type, vehicle type, technology type, sales channel and region

“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.”

Key Questions Answered in Report

• Which are the most lucrative automotive pumps markets?
• Which factors will impact the growth of automotive pumps?
• How will changing trends impact the strategies of market players?
• How can market players capture the low-hanging opportunities across regions?
• Which companies are leading the automotive pumps industry?
• What are the winning strategies of stakeholders in the market?

Analysis on Market Size Evaluation

The market has been analyzed for each segment in terms of volume (‘000 Units) and value (US$ Mn).

Estimates at global and regional levels for automotive pumps are available in terms of US$ Mn for value and in ‘000 Units for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global automotive pumps market.

Inspected Assessment on Regional Segments

Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the automotive pumps market during the forecast period.

Country-specific valuation on demand for automotive pumps has been offered for each region, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value & volume for emerging countries has also been included in the report.

In-depth Analysis on Competition Analysis

The report sheds light on leading manufacturers of automotive pumps, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering automotive pumps has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.

Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the automotive pumps domain. 

Research Methodology

In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the automotive pumps industry, and reach conclusions on the future growth parameters. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.

Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.