The automotive pump market is expected
to witness a significant growth in 2021, thanks to the implementation of
various carbon emission norms across various countries. A study by Future
Market Insights (FMI) on automotive pump market has forecast it to reach US$
106.0 Mn by the end of 2031, growing at a CAGR of 6.1% over the forecast years
(2021-2031).
The rising passenger vehicle sales will remain a chief
growth driver. In terms of vehicle type, passenger vehicle segment is forecast
to remain dominant, accounting for over 70% of sales recorded in the market.
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Key Takeaways of Automotive Pump Market Study
- After
a period of slow growth amid COVID-19, the automotive pump sales is poised
to recover, exhibiting nearly 6% Y-o-Y growth in 2021
- The
demand from the U.S. will remain a chief growth driver as the country
continues accounting for over 80% of sales registered in North America
- Increasing
passenger vehicle production will support growth in the U.K., enabling it
to register 3.5% Y-o-Y growth in 2021
- Within
Western Europe, Germany, France, and Spain are expected to emerge as key
pockets for sales
- While
China will continue dominating APEJ on the back of booming vehicle
production, the demand from India and South Korea will continue rising at
a positive rate
- Japan
will emerge as a highly lucrative market exhibiting positively rising
sales through the forecast period
“The increasing demand for environment friendly
vehicles aimed at curbing carbon emission is expected to provide an impetus to
compact utility vehicle sales. Compact size, low fuel consumption and high
performance of compact utility vehicles are key factors boosting their sales.
This also will create attractive opportunities for automotive pump sales in the
coming years,” said a lead analyst at FMI.
Who is winning?
The automotive pump market is a highly competitive. There is
ample focus on innovations, research and developments by market players as they
seek gaining competitive advantage. Some of the players are focusing to carve a
niche for specific demography. Expansion of electric vehicle market is expected
to boost sales of automotive pumps in the coming years. Companies operating in
the market are therefore focusing on merger and acquisition to expand their
footprint and product portfolio.
For instance:
- In
October, Johnson acquired Stackpole International, a prominent engine
& transmission pumps and powder metal components supplier.
- In
October, Magna International’s powertrain manufacturing unit in Benevento,
Italy, completed production of five million oil pumps for the Fiat
1.4-litre engine since 2005
Some of the leading players operating in the market are
Delphi Automotive, DENSO Corporation, ZF TRW, Johnson Electric and Continental
AG.
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Global Automotive Pump Market by Segments
Category
- Pump
- Fuel
Supply Pump
- Fuel
Injection Pump
- Transmission
Oil Pump
- Conventional
Engine Oil Pump
- Variable
Engine Oil Pump
- Steering
Pump
- Coolant
Pump
- Windshield
Washer Pump
- Vacuum
Pump
- Sales
Channel
- OEM
- Aftermarket
- Technology
- Electric
- Mechanical
- Vehicle
Type
- Passenger
Cars
- Light
Commercial Vehicles
- Heavy
Commercial Vehicles
- Two
Wheeler
Country
- U.S
- Canada
- Brazil
- Mexico
- Rest
of Latin America
- Germany
- Italy
- France
- U.K.
- Spain
- Benelux
- Rest
of Western Europe
- Poland
- Russia
- Rest
of Eastern Europe
- China
- India
- ASEAN
- Australia
and New Zealand
- South
Korea
- Rest
of APEJ
- South
Africa
- Turkey
- Egypt
- Restof
MEA
- Japan
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Table Of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Automotive Pump Market
3.2. Product Innovation / Development Trends
4. Key Success Factors
5. Global Automotive Pump Demand Analysis 2016-2020 and
Forecast, 2021-2031
5.1. Historical Market Volume (‘000 units) Analysis,
2016-2020
5.2. Current and Future Market Volume (‘000 units)
Projections, 2021-2031
5.3. Y-o-Y Growth Trend Analysis
6. Global Automotive Pump – Pricing Analysis
6.1. Regional Pricing Analysis By Pump Type
6.2. Global Average Pricing Analysis Benchmark
Key Questions Answered in the Report
- Which
is the most lucrative market for automotive pumps?
China currently leads the automotive pump market. Sales in
China will be account for nearly 38% of total demand through 2031.
- Which
vehicle type exhibits high demand for automotive pumps?
The passenger car segment is expected to dominate
the automotive pump market. The rising sales of passenger cars are
driving the growth of this segment.
- What
is the growth rate of automotive pump market?
Global automotive pump market is likely to rise at a CAGR of
6.1 % between 2021 and 2031.
- Which
are some of the leading companies in the automotive pump market?
Some of the leading companies in the global automotive pump
market are Aisin Seiki, Denso Corporation and Delphi Automotive.
- Which
vehicle type is driving sales of automotive pump market?
The passenger vehicles are driving sales of automotive pump
because they are comparatively economical than commercial vehicles and account
for larger share of the total vehicle owning population.
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