The Global Automotive Pumps Market, by Pump Type (Fuel Supply Pump, Fuel Injection Pump, Transmission Oil Pump, Engine Oil Pump, Steering Pump, Coolant Pump, Windshield Washer Pump and Vacuum Pump), by Sales Channel (OEM and Aftermarket), by Technology (Electric and Mechanical), by Vehicle Type (Passenger Cars, Light Commercial Vehicles and Heavy Commercial Vehicles)  and by Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa) - Global Forecast to 2027”, is expected to be valued at US$ 67214.51 Million by 2027, exhibiting a CAGR of 3.8 % during the forecast period (2019-2027), as highlighted in a report published by Coherent Market Insights.

Overview

Automotive pumps are one of the critical parts of any automobile vehicle to transfer fluid along with enhancing fuel efficiency and improve vehicle performance. Automotive pumps find applications in various vehicle parts such as steering, transmission, coolant, fuel, and lubrication. Automotive pumps have witnessed significant demand, in order to provide environment-friendly solutions in automobile. On the basis of vehicle type, the automotive pumps market has been segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles. On the basis of the sales channel, the market has been segmented into original equipment manufacturer (OEM) and aftermarket.

The global Automotive Pumps Market was accounted for US$ 51,885.07 Mn in terms of value and 738,923 units in terms of volume in 2019 and is expected to grow at CAGR of 3.8% for the period 2019-2027.

Market Driver

Growing demand for an advanced pump for mid-sized segments is expected to boost the global automotive pumps market growth over the forecast period

Increasing expenditure power of constantly growing middle-class, especially in emerging economies such as China and India are influencing automotive manufacturers to focus on mid-size and compact segment cars. Premium or special features such as power steering, easy gear shift, anti-lock braking systems, and cabin comfort systems are no longer limited to executive, premium and luxury cars. Moreover, increasing competition among automakers and changing consumer preferences have compelled automakers to introduce high-end features in small car segment. According to Coherent Market Insights’ analysis, sales of compact or mid-size cars account for 55% to 65% share of global car sales. . Thus, these factors are expected to support growth of the global automotive pumps market during the forecast period.

Market Opportunity

Rising use of advanced pumps to reduce vehicular emissions can provide major growth opportunities

Automakers are constantly laying emphasis on curbing carbon emissions, in order to ensure compliance with changing regulatory norms. Various automakers have determined to significantly reduce emission levels by end of the current decade. According to Continental AG, the use of high pressure or electric fuel pumps in vehicles can reduce carbon emissions by 1.5 gm to 2 gm/km for 1.8-litre gasoline or diesel engine. The aforementioned factors are expected to increase the adoption of advanced automotive pumps by automakers in the near future.

Market Restraint

Low replacement rate and aftermarket potential are expected to hinder the global automotive pumps market growth during the forecast period

Automotive pumps are an integral part of the transmission, driveline and auxiliary systems, which are rarely replaced in automotive. Replacement rate across the globe varies according to the category of pump, ranging between 0.1% and 1% of the vehicle parc. Growing technological advancements is expected to further reduce replacement rate during the forecast period. Therefore, very low potential offered by aftermarket and low replacement rate is expected to hinder the global automotive pumps market growth in the near future.

Market Trends

  1. Growing integration of advanced technologies and adoption of new designs

Automakers in the market are focused on product innovation and integration of advanced technologies, in order to cater to specific demands from customer demands. For instance, in 2013, Magna launched MultiVane Systems that includes standard piston and multi-vane vacuum pumps to create vacuums for braking system requirements of diesel engines. These pumps weigh less and have lower power consumption as compared to conventional pumps available in the market. Moreover, in 2015, TRW Launched Dual Stage Transmission Oil Pumps. In 2014, Bosch introduced turbine fuel pumps in the aftermarket for late model vehicles and older vehicles with fuel pumps built on older technology. These fuel pump module assemblies are designed to fit late-model domestic vehicles, including 2010–2012 Chevrolet Express/GMC Savana 1500 and 2500, 2009–2011 Chevrolet Colorado/Canyon and 2009–2012 Ford Escape/Mercury Mariner.

  1. Increasing emission regulations across the globe

Many countries across the globe are focused on introducing stringent regulatory policies to reduce emissions. For instance, in 2014, the amendment in the Canadian Environmental Protection Act, 1999 (Regulations of Passenger Automobile and Light Truck Greenhouse Gas Emission Regulations) has set a stringent greenhouse gas (GHG) emission standards for vehicles of model years 2017 and later in the country. Moreover, according to these regulations, all 2017 to 2021 model year passenger vehicles in Canada would need to annually reduce greenhouse gas (GHG) emissions by 3.5%, while in subsequent years, 2022 to 2025 model year vehicles would need to reduce GHG emissions by 5.0% per annum.

Competitive Section

Key players operating in the global automotive pumps market are JTEKT Corporation, ZF TRW Automotive Holdings Corp., Aisin Seiki Co. Ltd., WABCO Holdings, Inc., Concentric AB, TI Automotive Ltd., Continental AG, SHW AG, Delphi Automotive LLP, Pricol Ltd., DENSO Corporation, Robert Bosch GmbH, HELLA KGaA Hueck & Co., Magneti Marelli S.p.A, Hitachi Automotive Systems, Ltd., Magna International Inc., Johnson Electric Holdings Limited, and KSPG AG.

Key Developments

  1. Key companies in the market are focused on capacity expansion, in order to enhance the market presence. For instance, in February 2017, Pricol Ltd, an Indian automotive component maker, inaugurated its new plant in Pune, India.
  2. Major players in the market are involved in capacity expansion, in order to gain a competitive edge in the market. For instance, in July 2019, Robert Bosch GmbH, a supplier of automotive technology and services, inaugurated its new plant in Bidadi, Bangalore, India.

Segmentation

Market Taxonomy:

  1. By Pump Type
  • Fuel Supply Pump
  • Fuel Injection Pump
  • Transmission Oil Pump
  • Engine Oil Pump
  • Steering Pump
  • Coolant Pump
  • Windshield Washer Pump
  • Vacuum Pump
  1. By Sales Channel
  • OEM
  • Aftermarket
  1. By Technology
  • Electric
  • Mechanical
  1. By Vehicle Type
  • Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles
  1. By Region
  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa
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