Global Automotive Pumps Market is valued at USD 14.49 Billion in 2021 and expected to reach USD 19.72 Billion by 2028 with a CAGR of 4.50% over the forecast period.
An automotive pump was conventionally employed to transfer automotive fluids to cars. On the other hand, this pump has been increasing employed for enhancing fuel efficiency and vehicle performance. Automotive pumps are used in numerous vehicle parts such as steering, coolant, lubrication, transmission, and fuel.
The global automotive pumps market is divided into product type, sales channel, vehicle type, and technology. By sales channel, the market is divided into aftermarket and OEM. By pump type, the market can be divided into transmission oil pump, fuel supply pump, engine oil pump, fuel injection pump, steering pump, coolant pump, windshield washer pump, and vacuum pump. The sections by technology type are electric and mechanical. The sections by vehicle type are heavy commercial vehicles, passenger cars, and light commercial vehicles. Owing to increasing income levels of the developed nations, passenger car automotive pumps is the quickest developing in the section by vehicle type.
Rising urbanization and altering lifestyles have been improving development of the automobile sector, hence further powering the automotive pumps market. Modern vehicles are furnished with smart tech and features obeying the newest quality, emission, performance, and safety standards.
The major players included in the global Automotive pumps market forecast are,
The major driving factors determined for the growth of global automotive pumps market are growing vehicle electrification, increasing execution of environmental regulations, increasing vehicle production, and manufacturers’ rising addition of enhanced automation methods such as gasoline turbocharged direct injection and automatic transmission into vehicles to limit automobile emissions globally. These techs require dedicated automotive pumps for guaranteeing effective operation. Rising urbanization and altering lifestyles have been improving development of the automobile sector, hence further powering the automotive pumps market. Moreover, modern vehicles are furnished with smart tech and features obeying the newest quality, emission, performance, and safety standards. On the other hand, end-use sectors have become worth sensitive and aim to be inclined towards cars with superior luxury properties at reasonable price. Together with this, increasing requirement for eco-friendly services has made sure that makers create efficient automotive pumps. One of the major factors limiting the development of the global automotive pumps market is the low replacement costs. With technical advancement, these prices are claimed to be further reduced.
By geography, the global automotive pumps can be segmented into Western Europe, North America, Asia Pacific excluding Japan (APEJ), Eastern Europe, the Middle East and Africa (MEA), Latin America, and Japan. Western Europe and APEJ together generally add up for the majority of the share by value. Owing to increasing automobile growth and rising vehicle production in APEJ, this area is claimed to stay the foremost in the global automotive pumps market in the coming period, after North America. Strict emission laws, paired with increasing requirement for fuel-efficient automobiles and rising aim on OEMS growing the market in this area of the world add towards the growth of the market in this area of the world. The most striking market by value is the MEA area, after APEJ and Japan regions. By market share, North America is expected to be the biggest after Western Europe.
Middle East and Africa
|2015 - 2020
|2021 - 2028
|Market Size in 2021:
|USD 3.42 Billion
|Base year considered
|Forecast Period CAGR %:
|Market Size Expected in 2028:
|USD 41.98 Billion
|Tables, Charts & Figures:
|key players / Manufacturers
|Helium Systems Inc., Antler, Polkadot (Web3 Foundation), Ocean Protocol Foundation Ltd., Decentraland
|By Types, By Applications, By Verticals
|North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
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