Authored By: Sarah
11 Jul 2024

 Automotive Pump Market Size to grow by USD 3.49 billion between 2024-2028

According to a research report “ Automotive Pump Market” by Type (Mechanical, Automatic) Application (Passenger cars, Commercial vehicles) Geography (Europe, North America, APAC, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 3.49 billion, at a CAGR of over 4.14% during the forecast period. The expanding automotive sector in emerging economies is a significant catalyst for the global automotive pump market's growth. Economic growth in these nations has resulted in rising per capita income, leading to an increase in urbanization and the formation of major cities. However, public transportation infrastructure in these urban areas often struggles to meet the population's growing demands due to population growth and inadequate facilities. According to World Bank data, China's population accounts for approximately 1.4 billion people, highlighting the immense potential for automotive pump market growth in these rapidly urbanizing economies.

Browse market data tables, figures, and in-depth TOC on “Automotive Pump Market” by Type (Mechanical, Automatic) Application (Passenger cars, Commercial vehicles) Geography (Europe, North America, APAC, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample

 

By Type, the Mechanical segment is projected to dominate the market size in 2024

The automotive pump market is experiencing significant growth, driven by the increasing demand for passenger cars, particularly hatchbacks and sedans, in emerging markets such as Asia. This trend is fueling the passenger car segment of the global market. Additionally, developed automotive markets in Europe and North America continue to contribute substantially due to the high adoption of advanced automotive pumps and related components, such as engine control modules (ECMs), in vehicles sold in these regions. Stringent fuel efficiency regulations are compelling automakers and vendors to innovate, leading to the development of more efficient electric fuel pumps and improved ECM designs, which optimize oil circulation and reduce power consumption.

By Application, Passenger cars  segment is expected to hold the largest market size for the year 2024

In the automotive industry, mechanical pumps are indispensable components used for transferring fluids such as fuel and coolant. These positive displacement pumps function by utilizing automated mechanisms to generate fluid flow. Mechanical fuel pumps, specifically, employ a lever mechanism to create suction, drawing fuel from the tank and delivering it to the carburetor or fuel injection system. Two primary types of mechanical pumps exist: low-pressure mechanical pumps. These pumps generate flow at lower pressures, with a typical operating range of 10-15 psi. However, their performance ceases when outlet pressure exceeds their capacity.

Europe is forecasted to hold the largest market size by region in 2024

The European automotive pump market is projected to exhibit a modest expansion trajectory during the forecast period. Major European countries, including Germany, France, Italy, Spain, and the UK, significantly contribute to this market due to their high adoption rates of sophisticated fuel injection systems in automobiles and stringent emission regulations. Europe's commitment to technological innovation in the automotive sector positions it as a global leader in this domain. However, the increasing prevalence of electric vehicles (EVs) in the region poses a challenge to the automotive pump market's growth, as most pumps are designed exclusively for internal combustion engine (ICE) vehicles.

The Automotive Pump Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Bapcor Ltd.
  • BorgWarner Inc.
  • Carter Fuel Systems LLC
  • CHIESI Farmaceutici SpA
  • Concentric AB
  • Continental AG
  • Cummins Inc.
  • DENSO Corp.
  • GMB CORP.
  • Hitachi Ltd.
  • Johnson Electric Holdings Ltd.
  • Mitsubishi Electric Corp.
  • Pricol Ltd.
  • Rheinmetall AG
  • Robert Bosch GmbH
  • SHW AG
  • Stellantis NV
  • TI Fluid Systems Plc
  • Toyota Motor Corp.
  • Valeo SA
  • ZF Friedrichshafen AG
.

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Research Analysis Overview

The Automotive Pump Market is witnessing significant growth due to various factors, including the implementation of stringent environmental laws and the shift towards vehicle electrification. With the increasing focus on reducing carbon emissions and improving air quality, particularly in megacities, automotive Original Equipment Manufacturers (OEMs) are investing heavily in EV technologies and electric vehicle (EV) sub-systems. Fuel pumps for conventional vehicles continue to dominate the market, but the demand for cooling technologies for both passenger automobiles and commercial vehicles is increasing due to rising emission levels from combustion technologies. Radiators, paint and solvents, and liquefied gases are some of the key vehicle sub-systems where pumps are used. Environmental laws, such as Carbon emission norms, are driving the demand for more efficient and cleaner cooling and fuel systems. The growing popularity of electric vehicles (EVs) is also expected to boost the market for pumps used in EV technologies, such as battery cooling systems and charging infrastructure. However, the increasing use of EVs and the shift towards cleaner technologies is also posing challenges for the market, as the production of batteries and other EV components requires large amounts of energy and raw materials, contributing to the production of photochemical haze and other environmental issues. Therefore, the focus is on developing more sustainable and eco-friendly pump technologies to mitigate these challenges.

Market Research Overview

The Automotive Pump Market encompasses various types of pumps used in automotive applications, including power steering pumps, automatic transmission pumps, cooling technologies like radiator pumps, and electric pumps for EV technologies. Logistics in the automotive industry rely heavily on these pumps for efficient vehicle operation. Power steering pumps and automatic transmission pumps are essential vehicle sub-systems in conventional fuel vehicles. Automation technologies like actuators, microcontrollers, and sensors are increasingly being integrated into these pumps for improved performance and reduced carbon emissions. Environmental laws, such as emission norms and regulations against photochemical haze in megacities, are driving the shift towards electric vehicles (EVs) and alternative fuels. EVs utilize electric motors, batteries, and inverter cooling systems instead of combustion engines and mechanical pumps. The market also caters to various vehicle segments, including passenger automobiles, motorcycles, trains, buses, utility trucks, and vans, in urban areas. Fuel types range from conventional fuels to liquefied gases, and the market is subject to carbon emission norms and vehicle electrification trends. Automotive OEMs are at the forefront of developing advanced cooling technologies, combustion technologies, and electric coolant pumps to meet the evolving demands of the automotive industry. The market is expected to grow significantly in the coming years as the world transitions towards more sustainable and efficient transportation solutions.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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