Global Automotive Pumps Market is Segmented By Type (Fuel Pump, Fuel Injection Pump, Water Pump, Windshield Pump, Steering Pump, Transmission Oil Pump, Vacuum Pump, Headlight Washer Pump), By Technology (Electric, Mechanical), By Displacement (Fixed Displacement, Variable Displacement), By Application (Body & Interior, Engine & Powertrain, HVAC), By Distribution Channel (OEM, Aftermarket), By Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2021-2028
Market Overview
The global automotive pumps market size was worth US$ XX Million in 2021 and is estimated to reach US$ XX million by 2028, growing at a CAGR of XX% during the forecast period (2021-2028).
An automotive pump is a device that transfers automotive fluids in the vehicle through mechanical action. Automotive pumps are used in various vehicular systems such as steering, fuel tank, engine, lubrication and coolant system. The rising demand for vehicles, especially across the emerging markets, will lead to the expansion of the automotive pumps market.
Source: DataM Intelligence Analysis (2022)
Market Dynamics
The demand for automotive pumps is driven primarily by increasing vehicle production in major markets globally. The introduction of vehicle models with new technologies is mainly driving the trends for the automotive pumps market. The growing adoption of electric vehicles presents a key challenge for the growth of this market.
Growth in vehicle production
Vehicle production is increasing globally, fueled by growing demand for cars and other passenger vehicles in the emerging markets. Emerging markets globally are experiencing high population and economic growth. It has led to increasing industrialization and massive improvements in road infrastructure. The sustained high growth has created favorable socio-economic conditions for a rising middle class with increased purchasing power. It has led to a rise in the purchase of new automobiles, thus creating a surge in demand for new vehicles.
Growth in adoption of electric vehicles
Consumers and governments globally are becoming more climate-conscious. A major push is underway to decarbonize transportation to avoid the most severe effects of global warming and man-made climate change. Recently, at the COP26 climate conference in Glasgow in November 2021, many governments have pledged net-zero carbon emission targets for the middle of the century. It is bound to accelerate the adoption of carbon-free mobility solutions such as Electric Vehicles (EV). Electric vehicles do not need as many pumps as fossil fuel-based cars and hence, the increasing adoption of EVs will present a key challenge to the growth of this market.
COVID-19 impact analysis
The automotive industry experienced sharp declines in production and sales in 2020 due to the COVID-19 pandemic. Governments globally imposed lockdowns to curb the pandemic's spread and many manufacturers had to suspend operations temporarily. Industrial manufacturing is a highly capital-intensive business and thus, many component manufacturers were facing bankruptcy. Vehicle production resumed in a limited capacity after lifting the lockdowns.
The COVID-19 pandemics' knock-on effects on the global supply chains have caused shortages of essential components for the automotive industry. It has led to long lead times and reduced production rates, even after the complete lifting of pandemic-related restrictions. The pandemic will have a negligible impact on the short to medium-term growth of the automotive pumps market since the demand for cars, especially in emerging markets, remains strong and will continue to grow significantly in the coming years.
Segment Analysis
The automotive pumps market is segmented into type, technology, displacement, application, distribution channel, vehicle type and region. The global automotive pumps market is segmented into motorcycles, passenger cars, light commercial vehicles and heavy commercial vehicles based on vehicle type. Passenger cars dominate this segment since modern passenger cars utilize multiple pumps and passenger sales figures far outpace commercial vehicles.
Source: DataM Intelligence Analysis (2022)
Geographical Analysis
Asia-Pacific is leading in the global automotive pumps market. The region accounts for the largest market share, primarily due to major emerging markets such as China, India, Indonesia, Malaysia, Thailand and Vietnam and developed automotive markets such as Japan and South Korea.
The major countries of the Asia-Pacific have been experiencing high economic growth and this led to a rise in disposable incomes, thereby increasing the demand for new vehicles. Due to their large domestic automotive industries and the rising sales of mini and medium segment cars, the significant demand for automotive pumps comes primarily from China and India.
Source: DataM Intelligence Analysis (2022)
Competitive Landscape
The global automotive pumps market is highly competitive as the major automotive component manufacturers have a diverse portfolio of pumps for various applications. Some of the major players contributing to the growth in the segment are Robert Bosch GmBH, Continental AG, Aisin Corporation, Valeo, Denso Corporation, Hitachi Ltd., Magna Global Inc., ZF Friedrichshafen AG, SHW AG, Rheinmetall AG. The significant players adopt several growth strategies such as new product launches, acquisitions, joint ventures and collaborations, contributing to global growth in the industry.
Robert Bosch GmBH
Overview: Robert Bosch GmBH, known as Bosch, is a major engineering conglomerate with interests in mobility solutions, energy and building technology, industrial technology and consumer goods. The company operates nearly 442 subsidiaries and divisions in 60 countries globally and its products are sold in over 150 countries. It was founded in 1886 by German engineer Robert Bosch and is headquartered in Gerlingen, Germany.
Product Portfolio
- CP1x is a 3-plunger radial piston common rail fuel pump that can generate 1400bars of pressure. The pump is mainly used in heavy commercial vehicle diesel engines
Key Developments: In February 2019, Robert Bosch GmBH introduced a new electric coolant pump, ECP160. The pump has a capacity of 14,700 Liters per hour.
Why Purchase the Report?
- Visualize the composition of the automotive pumps market segmentation by type, technology, displacement, application, distribution channel, vehicle type and region, highlighting the critical commercial assets and players.
- Identify commercial opportunities in the automotive pumps market by analyzing trends and co-development deals.
- Excel data sheet with thousands of automotive pumps market-level 4/5 segmentation data points.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the critical product of all major market players
The global Automotive Pumps market report would provide an approx.: 84 market data tables, 92 figures and 180 pages.
Target Audience
- Automotive component manufacturers
- Vehicle manufacturers
- Industry Investors/Investment Bankers
- Education & Research Institutes
- Research Professionals
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