Automotive Pumps Market Forecast, Trend Analysis & Competition Tracking - Global Market insights 2017 to 2026

Automotive Pumps Market: Key Insights

• The automotive pumps market grew at over 4% CAGR during 2012-2016 on the back of booming automotive industry and technological developments.
• Global sales of automotive pumps surpassed 780,000 units in 2018 and the market is estimated to grow at a volume CAGR of 5.3% during the forecast period of 2017-2026.
• Asia Pacific Excluding Japan (APEJ) will remain the largest market for automotive pumps 2017-2026 period. An exponential increase in demand for automobiles, along with introduction of premium features in mid-sized cars remains a key factor influencing the growth of automotive pumps market in the region.
• APEJ is also anticipated to emerge as the most attractive market of automotive pumps, expanding at a promising CAGR of 5.7% over the forecast period.

What is Driving the Growth of Automotive Pumps Market?

• Increasing vehicle parc across the globe, lined with the adoption of innovative technologies to produce fuel efficient vehicles and to adhere to VOC (volatile organic compound) emission regulations is expected to significantly contribute to the growth of automotive pumps market.
• 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.
• A surge in middle class demographic and their high purchasing capabilities on the account of stable economic growth and rising disposable income, 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 may present opportunities for the use of customized automotive pumps.
• Globally, as consumers seek high-performance vehicles that 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. Inclination toward the 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 automotive pumps market.
• Rising fuel cost due to over exploitation of conventional fuel reserves are further prompting automotive manufacturers to develop highly efficient transmission system. Incorporation of such innovative systems along with low-friction pumps in a range of vehicles is expected to gain momentum in the coming years and eventually serve as a catalysts for the growth of automotive pumps market.

What are the Challenges Limiting the Automotive Pumps Market?

• 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 emissions and VOCs emission, several government organizations and regulatory bodies are constantly making effort 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.

Automotive Pumps Market – 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.

Other leading players participating in the automotive pumps market include Denso Corporation, TRW Automotive, Mikuni Corporation, Continental AG, Johnson Electric, Mahle Group, Magna International, KSPG AG-A, Robert Bosch Gmbh, SHW AG, and Davies Craig.

Additional Insights

Electric Automotive Pumps with Two-third Market Share Continue to Outnumber Mechanical Pumps

Mechanical automotive pumps are rapidly dying out owing to their lower energy-efficiency and higher hydraulic losses. Development of electrical 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. Owing to these characteristics, electric pumps deliver significantly lower fuel consumption and carbon emissions. With the higher performance standards, the electric automotive pumps are highly sought after and are expected to represent over two-third of the market share as compared to mechanical automotive pumps during the forecast period.

Demand for High-Performance Engines Encourages R&D Investments in the Automotive Pumps Technology

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. Manufacturers are focusing on introducing affordable and low-friction pumps that deliver higher efficiency suitable for high-performance engines. Further, to complement the technology of next-gen vehicles manufacturers are actively engaged in new product developments. Design developments with regard to lightweight, rapid response, and affordability are trending in the automotive pumps market.

Fuel Supply Pumps Preserve the Leading Stance, Fuel Injection Pumps to Expand Rapidly in the Automotive Pumps Market

As an essential component of the automobile engine system, fuel supply pump is highly sought after by automakers as compared to other types of fuel pumps. Among different types of automotive pumps, fuel supply pumps continue to maintain their market position with consistently evolving effective fuel supply technology. That said, the fuel supply segment is expected to continue its dominance with a significant market valuation exceeding sales over US$ 30,700 Mn by 2026 end. On the other hand, fuel injection pumps are emerging rapidly with the steadily rising demand for diesel-powered cars and commercial vehicles. Higher fuel efficiency is the prime fillip driving the sales of diesel-powered automobiles, thereby propelling the demand for fuel injection automotive pumps in the automotive pumps market. 

Growing Vehicle Electrification to Challenge Progress of the Automotive Pumps beyond Forecast

The automotive industry is rapidly witnessing transformations owing to stringent emission standards, demand for fuel-efficiency, and preference for sustainable automotive technologies. As electric vehicles run by electric power and are independent of internal combustion engines, demand for fuel automotive pumps is likely to witness challenges of adoption in future. Further, automotive pumps are likely to face issues of incompatibility with the advanced technologies of electric vehicles. As vehicle electrification is encouraged against the backdrop of growing environmental concerns, rising fuel prices, and increasing costs of the internal combustion engine and their maintenance, the automotive pumps market is expected to face limited adoption by automakers during the forecast and beyond.

Market Definition

Automotive pumps are a crucial component all automobiles where they transfer automotive fluids in different vehicle components such as fuel system, lubrication system, steering system, coolant system and transmission system. Based on their function, automotive pumps are categorized as fuel pump, oil pump, steering pump, transmission pump, vacuum pump, windshield washer pump and others.

About the Report

The report published by Fact.MR titled “Automotive Pumps Market Forecast, Trend Analysis & Competition Tracking - Global Review 2017 to 2026” delivers the most credible market performance. The thorough analysis of historical data, current market scenario and future projections included in the report provides vital insights pertaining to the futuristic growth trajectory of the automotive pumps market.

Additional Questions Answered

The automotive pumps market report provides additional insights into several other market avenues as follows –

• What will be the key business strategies undertaken by manufacturers to win over the competition in the automotive pumps market?
• How will the electrification of the automotive industry impact the automotive pumps market performance?
• What will be the regional outlook of the automotive pumps market?

Research Methodology

The business intelligence report on global automotive pumps market is a result of an elaborate and exhaustive research methodology. The actionable insights into the automotive pumps market are obtained through a two-step research process involving primary and secondary researches. The secondary research was conducted by thoroughly studying paid resources, trade journals, and other publications related to automotive pumps market, while the primary research involved interviewing industry experts. Findings from these two research processes were triangulated to formulate the accurate and reliable forecast of the automotive pumps market.