Automotive Pumps Market to Reach $27.02 Billion, Globally, by 2032 at 5.5% CAGR: Allied Market Research

Rise in fleet of electric and hybrid vehicles, stringent government regulations on emission norms, and development of autonomous vehicles drive the growth of the global automotive pumps market.

WILMINGTON, DEL., Jan. 11, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Automotive Pumps Market by Type (Fuel Injection Pump, Fuel Pump, Water Pump, Vacuum Pump, and Others), Technology (Mechanical, and Electric), Vehicle Type (Passenger Vehicle, and Commercial Vehicle), and Sales Channel (OEM, and Aftermarket). Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global automotive pumps market industry generated $16.40 billion in 2022, and is anticipated to generate $27.12 billion by 2032, witnessing a CAGR of 5.5% from 2023 to 2032.

(We are providing automotive pump industry report as per your research requirement, including the Latest Industry Insight's Evolution, Potential and Russia-Ukraine War Impact Analysis)

• 141 - Tables
• 66 - Charts
• 300 - Pages

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Prime determinants of growth

The global automotive pumps market has experienced significant growth and transformation, driven by rise in fleet of electric and hybrid vehicles, and stringent government regulations on emission norms. Also, technological advancement in automotive pumps, development of autonomous vehicles, are likely to shape the industry's future, enhancing safety and efficiency.

Report Coverage and Details:

Russia-Ukraine War Scenario

• The impact of the Russia-Ukraine conflict has been notably adverse for the automotive sector, primarily affecting Ukraine and Russia. Disruptions in supply chains have emerged due to the close proximity of vital manufacturing and supply centers in both countries.

The fuel injection pump segment to maintain its leadership status throughout the forecast period

Based on type, the fuel injection pump segment held the highest market share in 2022, registering a CAGR of 5.2% as the fuel injection pumps regulates the quantity of fuel delivered, ensuring that the engine receives the right amount of power. However, the water pump segment is witnessing a highest CAGR of 6.4% from 2023 to 2032, owing to the rise in trend toward engine downsizing to enhance fuel efficiency and reduce emissions.

Key Developments in the Automotive Pump Industry:

Leading companies are implementing various strategies, including acquisition, agreement, expansion, partnership, contracts, and product launches, to fortify their market positions.

• In December 2020, Aisin Seiki Co., Ltd. expanded its production capabilities by inaugurating a factory specializing in the manufacturing of small and medium-sized pump products, with a focus on electric water pumps.
• In January 2022, Aisan Industry Co., Ltd. acquired Denso Corporation, leading to the transfer of all operations related to the development, production, and sale of fuel pump modules from DENSO to Aisan. This strategic move enhances their competitive edge in powertrain technologies, positioning both companies for growth in emerging areas.

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The mechanical segment to maintain its leadership status throughout the forecast period

Based on technology, the mechanical segment held the highest market share in 2022 registering a CAGR of 5.2% as the mechanical fuel pumps operate by using a suction mechanism to draw fuel from the tank's bottom. A diaphragm is responsible for creating this suction, and a valve prevents the fuel from returning to the tank after the pump is filled. This mechanism is very important for proper functioning of the vehicles. The electric segment is estimated to reach a CAGR of 5.9% during the forecast period owing to surge in fleet of electric vehicles. Countries such as China, India, Australia, and Japan are placing a strong emphasis on environmental awareness and the adoption of new technologies, fostering the expansion of high-performance electric vehicles.

The passenger vehicle segment to maintain its lead position during the forecast period

Based on vehicle type, the passenger vehicle segment accounted for the largest share in 2022 and is estimated to maintain its leadership status throughout the forecast period registering a CAGR of 5.8%, owing to enhanced lifestyles and economic conditions which is driving shifts in consumer preferences worldwide. The automotive pumps market is expected to experience growth during the forecast period with rise in purchasing power and disposable income, increased brand visibility, and competition among OEMs to provide enhanced features, as they are deployed in the vehicle engine to increase the overall efficiency of the cars.

The OEM segment to maintain its lead position during the forecast period

Based on sales channel, the OEM segment accounted for the largest share in 2022 and is estimated to maintain its leadership status throughout the forecast period registering a CAGR of 5.7%, as the pumps play a central role in thermal management systems, facilitating the circulation of the appropriate coolant volume. The contribution of electric water pumps in supplying coolant as required plays a key role in lowering the fuel consumption of traditional powertrains. This increases the sales of pumps in automotive applications.

Asia-Pacific to maintain its dominance by 2032

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022 and is estimated to maintain its leadership status throughout the forecast period, the implementation of numerous government campaigns, the proliferation of hybrid electric vehicle (HEV) models, and continuous improvement in battery technology are collectively propelling the automotive pumps market. However, LAMEA is expected to witness the fastest CAGR of 7.9% from 2023 to 2032, owing to rise in disposable income and increase in the production and sales of four- wheelers.

Report Key Highlights:

• The automotive pump market study spans 14 countries, conducting regional and segment analysis for each country in terms of value ($million) during the projected period 2023-2032.
• The study employs a comprehensive approach, integrating high-quality data, professional opinions, and critical independent perspectives. This methodology aims to present a well-rounded view of global markets, aiding stakeholders in making informed decisions to achieve ambitious growth objectives.
• A thorough review of over 3,700 product literature, annual reports, industry statements, and comparable materials from major industry participants was conducted to enhance the understanding of the market.

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Leading Market Players: -

• GMB Corporation
• Schaeffler Technologies AG & Co. KG
• Mitsubishi Electric Corporation
• Aisin Seiki Co., Ltd.
• MAHLE GmbH
• Aisan Industry Co., Ltd.
• Continental AG
• Valeo
• Robert Bosch GmbH
• Johnson Electric Holdings Limited

The report provides a detailed analysis of these key players in the global automotive pumps market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

Similar Reports We Have on Automotive Industry:

Automotive Electric Vacuum Pump Market Research Report 2023-2032

Automotive Electric Fuel Pumps Market Research Report 2023-2032

Automotive Fuel Feed Pumps Market Research Report 2023-2032

Power Steering Pump Market Research Report 2023-2032

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