USD 11.2 Billion
Automotive Pump Market Size, Share, Growth Analysis, By Technology(Mechanical and Electrical), By Vehicle Type(Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, and Two-wheeler), By Product(Fuel Pumps, Oil Pumps, Steering Pumps, Water Pumps), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25A2218 |
Region:
Global |
Published Date: April, 2024
Pages:
220
|Tables:
92
|Figures:
77
Automotive Pump Market Insights
Global Automotive Pump Market size was valued at USD 11.2 Billion in 2022 and is poised to grow from USD 11.66 Billion in 2023 to USD 43.32 Billion by 2031, growing at a CAGR of 4.10% in the forecast period (2024-2031).
Growing automotive industry in emerging economies is primarily driving the market growth. Increased per capita income in emerging economies is due to increased economic activity. Cities are centers of economic growth, so increasing economic growth spurred urban expansion and settlement. Accordingly, governments in many cities in developing countries are unable to meet the expanding demand for public transport due to population growth and lack of transportation infrastructure. World Bank, the population of China is 1.412 billion by 2021. Meanwhile, Indonesia’s urban population reached 2.737 billion by 2021. This prompted most urban commuters to buy cars for convenience, and boosted the automotive industry in these countries.
Besides, the increase in sales of heavy commercial vehicles for exports in emerging economies has been attributed to the failure of railways to provide final connectivity with e-commerce and the growth of websites.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Electrical
Fastest Growth
Mechanical
Growth Rate
4.10% CAGR
Global Automotive Pump Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Automotive Pump Market Segmental Analysis
The automotive pumps market segmentation, based on technology, includes mechanical and electrical. The automotive pumps market segmentation, based on vehicle type, includes passenger cars, light commercial vehicles, heavy commercial vehicles, and two-wheeler. The automotive pumps market segmentation, based on product, includes fuel pumps, oil pumps, steering pumps, water pumps, fuel injection pumps, and others. By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World.
Analysis by Technology
The electrical segment performs a vital role within the market, contributing to the performance, performance, and universal capability of various pump systems within automobiles. Automotive pumps are vital additives that facilitate the motion of fluids, such as gasoline, coolant, and hydraulic fluids, during the vehicle. In this context, the electrical section refers to the incorporation of electronic and electric components in automobile pump structures. This improves gasoline performance and guarantees the right quantity of fuel is delivered to the engine for optimum combustion.
Electronic gas pumps often comprise sensors and control structures to preserve regular gasoline stress, enhancing engine performance and responsiveness.
The mechanical category accounted for the largest share (70.4%). Mechanical car pumps use mechanical power to pump the water, while electric pumps use electricity from the engine to expel the water. Mechanical pumps, also known as geared pumps, move exactly through a drive belt or camshaft and receive power from a car motor but electric is the fastest growing segment because electric pumps use electricity from an engine to pump water. Modern direct injection engines have common rail radial piston, common rail two piston radial, inline, port and helix, metering unit configurations and operate at pressures up to 3000 psi. Fuel is used to lubricate the injection pumps, preventing oil waste the fuel Mechanical pumps are required for proper operation of car engines and other systems. These advantages of mechanical pumps are expected to increase their demand in the automotive industry. Thus, the industrial segment of the global market is expected to grow during the forecast period.
Analysis by Vehicle Type
Passenger vehicles are the dominating segment and generated the highest revenue during the forecast period. This is due to higher demand for passenger vehicles in developing countries and higher incomes in developing countries. However, light commercial vehicles are the fastest growing category due to higher per-consumer income, and the adoption of advanced technologies, including Advanced Driver Assistance Systems (ADAS), observations allow to accelerate auto pump performance.
The light commercial vehicles (LCVs) segment plays an important role in the global automotive pump market, as these vehicles need various pump systems to ensure efficiency and effectiveness. The vehicle pump in an LCV contributes to many important functions. LCVs are equipped with a fuel injection system that relies on a fuel pump to deliver the correct amount of fuel to the engine. Efficient and accurate fuel delivery is essential for optimal combustion, power output and fuel efficiency. LCVs have engines that generate a lot of heat during operation. Automotive pumps such as water pumps and refrigerant pumps play an important role in maintaining the correct operating temperature. This is important to prevent overheating and ensure a long engine life.
Global Automotive Pump Market By Technology (%)
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Automotive Pump Market Regional Insights
Increasingly stringent emissions standards, vehicle manufacturers’ paradigm shift towards in-vehicle electrification, and increased demand for commercial vehicles from the logistics and e-commerce sectors dominating Asia Pacific region in the global automotive pump market will boost the market growth in this region. Furthermore, China had the largest market share in the automotive pump market, the Indian automotive pump market is the fastest growing market in the Asia-Pacific region.
The North America region in the global automotive pump market is expected to grow at the fastest CAGR from 2024 to 2031. Moreover, rapid technological advancement and high growth rate in the automotive industry. Moreover, the U.S. the automotive pump market holds the largest market share, and the Canadian automotive pump market is the fastest growing market in the North America region.
Global Automotive Pump Market By Geography
- Largest
- Fastest
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Automotive Pump Market Dynamics
Drivers
Rise in the Development of Hydrocarbon Evaporation Control Systems
- The development of hydrocarbon evaporation control systems is an emerging trend growing in the market. Reducing environmental footprint is becoming a top priority for the global automotive industry. As a result, groups involved in the automotive value chain are working with organizations and government councils to create an environmentally sustainable automotive industry. As a result, automotive technologies and systems continue to evolve and innovate, reducing negative environmental impacts.
Rising Improvements in Atmospheric Evaporation Control Systems
- In addition, Continental, one of the leading Tier 1 operators in the global automotive industry, as part of its sustainability strategy, developed an electrified solution to reduce hydrocarbon emissions on cold water. To comply with stringent international regulations on hydrocarbon cold water, the company generated electricity. To reduce hydrocarbon emissions into the air, this electric pump is designed to remove hydrocarbon laden air from the barrel. The compact and lightweight automated cleaning pump has an efficient brushless direct current (BLDC) motor. Depending on the user, it can be used and used on demand. The basic functionality of the active purge pump can be improved by incorporating state-of-the-art algorithms and adding new features to suit future requirements thus improvements in atmospheric evaporation control systems in the forecast period is the major factor driving the growth of the global market.
Growing Demand for Luxury Cars
- Increasing demand for luxury vehicles is a major factor driving the growth of the "Global Automotive Pump Market". Luxury cars are characterized by high quality features, advanced technology, excellent performance and luxurious comfort. As the economy grows and the purchasing power of consumers increases, premium luxury cars are gaining popularity among consumers around the world.
- These luxury supercars typically come equipped with a variety of sophisticated systems and features, including car pumps, to enhance their overall performance and provide a better driving experience. Advanced pumps are essential in supporting a variety of applications in this high-end vehicle, e.g. Power steering, fuel injection, cooling and transmission systems.
Restraints
Changes In Raw Material Prices
- Fluctuations in raw material prices act as an important restraint in the "global automotive pump market". Automotive pumps are made from various materials such as metal, plastic and rubber, sourced from various suppliers around the world. The prices of these raw materials are subject to market forces, geopolitics, supply disruptions, and other uncertainties, causing costs to fluctuate frequently. An increase in the price of raw materials directly affects the cost of a car pump. Pump manufacturers often face challenges in maintaining profitability, especially when cost increases cannot be passed on to customers due to competitive pressures or contractual obligations. Consequently, the profitability of pump manufacturers can deteriorate during periods of high commodity prices.
Increasing Electrification Demand
- Hybrid vehicles and increasing electrification demand is a major challenge restraining the growth of the market. Government agencies are promoting hybrid electric vehicles due to the growth of ICE-based vehicles and increasing air pollution caused by petroleum-based and renewable fuels. Vehicle pumps are like gasoline pumps, demand for water pumps, gear pumps and oil pumps will decrease during the forecast period and vehicle pumps Investment in ICE utility vehicles is limited.
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Automotive Pump Market Competitive Landscape
The competitive environment of the Global Automotive Pump Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Established organizations within the industry leverage techniques inclusive of product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market position. Additionally, the market is witnessing elevated opposition from local and neighborhood producers supplying cost-powerful options.
Top Player’s Company Profiles
- Robert Bosch GmbH
- Denso Corporation
- Continental AG
- Delphi Technologies
- Johnson Electric Holdings Limited,
- Valeo SA
- Bapcor Ltd.
- BorgWarner Inc.
- Carter Fuel Systems LLC
- Concentric AB
- Continental AG
- Cummins Inc.
- DENSO Corp.
- GMB Co. Ltd.
- Hitachi Ltd.
- Johnson Electric Holdings Ltd.
- Mitsubishi Electric Corp.
- Rheinmetall AG
- Robert Bosch GmbH
- SHW AG
- Stellantis NV
Recent Developments
- August 2022: HELLA KGaA Hueck & Co, automotive manufacturer operating under the FORVIA brand, announces the expansion of its existing thermal management division with high-performance electronic valve actuators and media pumps for refrigerant circulation.
- February 2022: Engine parts manufacturer Aison Industry Co. Ltd. completed the acquisition of Denso Corporation’s fuel pump module business. Through this exercise, the company focused on strengthening its powertrain offerings and market growth opportunities.
- In February 2022, Aison Industry Co. Ltd. Ltd. acquired Denso Corporation with Denso ready to transfer all aspects of its operations related to development, manufacturing and marketing of fuel pump modules to Aison. With this acquisition, companies increase their competitiveness in powertrain and positioning for growth will be available in future projects.
Automotive Pump Key Market Trends
- Growing Trend to Downsize Engines is Driving the Market Growth: The global automotive pump market CAGR is driven by rising downsized engines. OEMs majorly focus on using smaller engines with the same or more power as the current ones. The smaller auxiliary engine reduces the overall cost of the vehicle, which in turn increases the fuel efficiency of petrol and diesel engines. For example, most Mercedes-Benz and BMWs made now a days are equipped with a 4-cylinder engine instead of a 6-cylinder engine for the required compression of the engine inside is improved to deliver the same power as the wider engine with greater efficiency. OEMs are also trying to downsize engines to meet federal emissions standards. The reduced engine size is expected to create new business opportunities for the market during the forecast period.
Rising Demand for Automotive Pumps
- The demand for automotive pumps is increasing due to increasing automobile manufacturing, increasing enforcement of environmental regulations, increasing in-vehicle electrification, and advanced processing techniques used in extensive automatic integration, including automatic transmissions and gasoline turbocharged direct injection occurs in vehicles, requiring dedicated vehicle pumps for efficient operation. Changing lifestyles and increasing urbanization have fueled automotive development, driving the global automotive pump market. Moreover, modern vehicles are manufactured with intelligent technology that meets the latest emissions, quality, safety and performance standards, expanding the growth of the market.
Automotive Pump Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Automotive pumps are mainly used for pumping automotive fluids; but these are increasingly being used to improve fuel economy and vehicle performance. The increasing demand for environmentally friendly solutions has influenced manufacturers to develop more structured pumps. Pumps are used in many automotive systems including steering, refrigeration, transmission, fuel and lubrication. Increasing automobile manufacturing, increasing electrification, greater enforcement of environmental regulations, and advanced automotive technologies such as direct fuel injection and delivery increasing adoption of autonomous vehicles is also acting as market entry factors.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 11.2 Billion |
| Market size value in 2031 | USD 43.32 Billion |
| Growth Rate | 4.10% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Automotive Pump Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Automotive Pump Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Automotive Pump Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Automotive Pump Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Automotive Pump Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Automotive Pump Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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