NEWARK, Del., May 22, 2023 (GLOBE NEWSWIRE) — According to Future Market Insights, the global automotive pump market is projected to reach a valuation of $64.57 billion by 2023 and is expected to reach to USD 118 billion by 2033. During the forecast period of 2023 to 2033, the market is expected to proliferate at a CAGR of 6.2%.
The global increase in vehicle use, combined with the adoption of cutting-edge technologies to manufacture fuel-efficient vehicles that meet VOC (volatile organic compound) emission regulations, is expected to have a substantial impact on the expansion of the car pump market.
Numerous automakers and manufacturers are making significant investments in research and development, as well as in the production of automotive components. They incorporate smart technologies like automatic transmissions, gasoline direct injection, and gasoline turbochargers, which rely on automotive pumps for efficient operation. This trend is expected to generate promising growth opportunities for the automotive pump market.
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The increase in disposable income, especially in emerging economies, has led to an increase in purchasing power among individuals. This trend has led automakers to place more emphasis on mid-size and compact cars. The introduction of premium features such as easy gear shifting, power steering, anti-lock braking system (ABS) and cabin comfort systems in these vehicles is presenting numerous opportunities for market expansion.
With an increasing demand for high performance vehicles that are fuel efficient and lightweight, there is a continuous need for product innovation in the automotive pump industry. These pumps play a key role in improving the energy efficiency of vehicles. The adoption of variable displacement oil pumps for automobiles, which facilitate maximum circulation of oil through all engine parts while effectively absorbing the heat generated, can contribute to the overall growth of the industry.
key points:
- The European automotive pump market is expected to grow at a CAGR of 6.3% during the forecast period.
- The India market is expected to witness a CAGR of 6.4% during the forecast period.
- The market in China is expected to grow at a CAGR of 6.5% during the forecast period.
- By sales channel, OEM is expected to lead the segment and is estimated to grow at a CAGR of 6.7% during the forecast period.
- By technology, the electric pumps segment is expected to grow at a CAGR of 7% during the forecast period.
“The incorporation of intelligent technologies such as automatic transmission, gasoline direct injection and gasoline turbochargers expected to drive the growth of the market during the forecast period,”– comments an FMI analyst.
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Competitive landscape:
The automotive pump market is highly competitive, with several key industry players investing heavily in the production of these services.
Major industry players are DENSO Corporation, Johnson Electric Holdings Limited, HELLA KGaA Hueck & Co., Hitachi Automotive Systems, Ltd., Concentric AB, Continental AG, Delphi Automotive LLP, JTEKT Corporation, KSPG AG, Magna International Inc., Magneti Marelli SpA, Robert Bosch GmbH, Pricol Ltd., SHW Group, TI Automotive Ltd, ZF TRW Automotive Holdings Corp.
Some recent developments on the market are:
- In January 2022, Aisan Industry Co., Ltd., a specialized manufacturer of engine components, successfully completed the acquisition of Denso Corporation’s fuel pump module business. This strategic move was aimed at enhancing Aisan Industry’s engine portfolio and capitalizing on potential market expansion prospects.
- In August 2022, HELLA KGaA Hueck & Co, an automotive supplier known for its FORVIA brand, presented an expansion of its already extensive thermal management portfolio. The company introduced two new additions: the electronic valve actuator and the high-performance media pump, both designed to improve coolant circulation capabilities.
More valuable information available:
Future Market Insights provides an unbiased analysis of the global automotive pump market, providing historical data from 2017 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the automotive pump market, the market is segmented based on pump, sales channel, technology, vehicle type, and region.
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Key segments profiled:
Per pump:
- Fuel supply pump
- Fuel injection pump
- Transmission oil pump
- Conventional engine oil pump
- Variable engine oil pump
- steering pump
- Coolant pump
- Windscreen washer pump
- vacuum pump
By sales channel:
By technology:
By type of vehicle:
- Passenger cars
- Light commercial vehicles
- Heavy commercial vehicles
- two wheels
By region:
- North America
- Latin America
- europe
- Asia Pacific
- Middle East and Africa
Table of Contents (TOC)
1. Executive Summary | Automotive pump market
1.1. Global market outlook
1.2. Demand trends
1.3. Supply trends
1.4. Analysis of the technological roadmap
1.5. Analysis and recommendations
2. Market overview
2.1. Market coverage / Taxonomy
2.2. Market definition / scope / limitations
3. Background of the market
3.1. Market dynamics
3.1.1. drivers
3.1.2. restrictions
3.1.3. opportunity
3.1.4. trends
3.2. Scenario forecasting
3.2.1. Demand in an optimistic scenario
3.2.2. Demand in a likely scenario
3.2.3. Demand in a conservative scenario
3.3. Analysis of the opportunity map
3.4. Product life cycle analysis
3.5. Supply chain analysis
3.5.1. Offer participants and their roles
3.5.1.1. producers
3.5.1.2. Mid-Level Participants (Traders/Agents/Brokers)
3.5.1.3. Wholesalers and distributors
3.5.2. Value added and value created at the supply chain node
3.5.3. List of suppliers of raw materials
3.5.4. List of existing and potential buyers
3.6. Investment feasibility matrix
3.7. Value Chain Analysis
3.7.1. Profit margin analysis
3.7.2. Wholesalers and distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s analysis
3.9. Regulatory landscape
3.9.1. By key regions
3.9.2. By key countries
3.10. Regional Parent Market Outlook
3.11. Production and consumption statistics
3.12. Import and export statistics
4. Global Market Analysis 2017 to 2022 and Forecast, 2023 to 2033
4.1. Market Size Historical Value (US$ Million) and Volume Analysis (Units), 2017 to 2022
4.2. Current and Future Market Size Value (US$ Million) and Volume Projections (Units), 2023 to 2033
4.2.1. Interannual growth trend analysis
4.2.2. Analysis of opportunities in absolute $
Explore FMI’s extensive coverage of the automotive landscape:
Market Size of Automotive Active Purge Pump: It is expected to witness an impressive growth of 11.2% CAGR between 2021 and 2031.
Automotive Variable Oil Pump Market Share: With a healthy expansion of 2.9% CAGR, the market size is projected to reach USD 10.6 billion by 2030.
Electric Scooter Market Growth: It is likely to be valued at USD 2.7 Billion in 2023 and will have a revenue growth of USD 8.2 Billion by 2033.
Electric Vehicle Charging Stations Market Demand: Expected to exceed US$ 113,889.1 million in the next decade. Between 2023 and 2033, the market is projected to register a CAGR of 26.6%.
Electric Scooter Market Trends: It is expected to rise significantly, expanding at a CAGR of 9% by 2032.
Electric Vehicle Battery Market Outlook: It is set to strengthen its presence in the global market with a promising CAGR of 8.5%, while it is expected to have a revenue of USD 18.09 billion by 2032.
Automotive Electronics Market Size: It is expected to be valued at US$ 300,332.43 million by 2022, forecast to grow at a CAGR of 7.30% to be valued at US$ 607,574.4 million between 2022 and 2032.
Autonomous Vehicle Market Growth: It is expected to grow at a CAGR of 10.9% between 2022 and 2032, reaching a total of about 99.451 billion by 2032.
Electric Vehicle Charger Market Share: It is expected to register an impressive CAGR of 26.6%. The electric vehicle charger market valuation is expected to grow from USD 6,520.9 million in 2023 to USD 68,967.2 million in 2033.
Electric Utility Vehicle Market Trends: It is projected to grow at a solid CAGR of 15.4% during the period 2023 to 2033, and as of 2023, the market is valued at US$ 9,203.8 million.
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