New York, NY, Aug. 29, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Automotive Pumps Market By Vehicle (Heavy Commercial, Light Commercial, and Passenger Cars), By Product (Windshield Washer Pumps, Water Pumps, Vacuum Pumps, Transmission Pumps, Steering Pumps, Oil Pumps, Fuel Pumps, and Fuel Injection Pumps), By Displacement (Variable and Fixed), and By Technology (Mechanical Pumps and Electric Pumps): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2026”. According to the report, the global automotive pumps market was USD 56.95 billion in 2018 and is expected to reach around USD 90 billion by 2026, growing at a CAGR of 5.9% between 2019 and 2026.
Pumps implied for transferring automotive fluids to automobiles are called automotive pumps. These pumps are gaining popularity globally for improvising a vehicle’s performance and fuel efficiency. Automotive pumps are utilized in numerous automotive parts, such as steering wheels, coolant, lubrication, and transmission. Electric pumps offer various benefits as compared to mechanical pumps, such as high efficiency and low-temperature fluctuations. Due to these factors, the replacement of mechanical pumps by electrical pumps is globally trending. The adoption of electric pumps is elevating globally, as it can efficiently operate at high pressures. Many automotive manufacturers are opting for electric pumps to comply with different mandatory environmental government regulations. Electric pumps are independent of any engine operations and effectively reduce carbon dioxide emissions from combustion engines. Moreover, electric pumps play a vital role in an electric vehicle.
Browse through 71 Tables & 33 Figures spread over 140 Pages and in-depth TOC on “Global Automotive Pumps Market Size & Share 2018 Report: By Product Type, Industry Size, Share, Trends, Analysis, and Forecast, 2018–2026”.
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Automotive manufacturers across the globe are primarily focused on constant enhancement of various automotive technologies. Many automobile manufacturers are observed to be involved in the automation of vehicles, which is a significant factor driving the automotive pumps market. Numerous automotive manufacturers are collaborating with IT enterprises for developing autonomous driving technologies and scrutinizing information accumulated from connected cars. Moreover, automotive pumps are significantly trending in the automotive industry due to their fuel efficiency.
By displacement, the market includes fixed and variable displacement. Fixed displacement is expected to hold the largest market share and variable displacement is anticipated to grow rapidly over the forecast time period. By technology, the market is classified into electric and mechanical pumps. Electric pumps are expected to hold the largest share over the estimated time span. By vehicle, the automotive pumps market includes light commercial vehicles, passenger cars, and heavy commercial vehicles. The passenger cars segment is anticipated to hold the highest market share in the upcoming years. By product, the market is fragmented into windshield washer pumps, fuel pumps, vacuum pumps, steering pumps, oil pumps, transmission pumps, fuel injection pumps, and water pumps.
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The North American automotive industry is recording a steady growth, owing to the presence of renowned manufacturers and a strong customer base. The growing number of merger and acquisition, integration, and site relocations is highly observed across the region. Certain major factors contributing to the growth of automotive pumps market is the early adoption of new technologies, climate-related policies, and rising consumer preferences toward eco-friendly and smart vehicles. Moreover, the region is expected to witness a significant flow of investments in the automotive component sector, thereby contributing to the automotive pumps market.
The European automotive sector accounts for 4% of the regional GDP and is therefore considered as one of the crucial fields for economic growth and prosperity. The European automotive industry holds the largest private investors in Research and development (R&D), being the world's top producer of motor vehicles. The European automobile manufacturers operate nearly 304 production plants and vehicle assembly in 27 countries across the region. In addition, the factors fueling the automotive pumps market in Europe are rising investments in smart technologies and government products on implementing smart electric vehicle technology.
Browse the full “Automotive Pumps Market By Vehicle (Heavy Commercial, Light Commercial, and Passenger Cars), By Product (Windshield Washer Pumps, Water Pumps, Vacuum Pumps, Transmission Pumps, Steering Pumps, Oil Pumps, Fuel Pumps, and Fuel Injection Pumps), By Displacement (Variable and Fixed), and By Technology (Mechanical Pumps and Electric Pumps): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2026” Report at https://www.zionmarketresearch.com/report/automotive-pumps-market
The Asia Pacific automotive pumps market is expected to hold the largest share globally, owing to the increasing collaboration of Chinese companies with other international companies manufacturing automotive pumps and rising demand for commercial vehicles and passenger cars. India, China, South Korea, and Japan are major contributors to the automotive pumps market, owing to the presence of renowned automobile manufacturers.
The Latin American automotive industry registered good growth in 2018, with total sales of 1.39 million units. Brazil and Argentina are the two most developed automotive nations of Latin America. The improvements in the automobile sector were due to Brazil’s improving economy since 2017. The dynamic boom of the Latin American automotive industry is driving the region’s pumps market.
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The Middle Eastern and African automotive industry is proving remarkably resilient and is expected to increase its overall sales and production in the years ahead. This will fuel the region’s pumps market. Egypt, Morocco, Turkey, and Iran are some of the leading electric motor vehicle producers, whereas the major sales market includes Saudi Arabia, Turkey, Egypt, and the UAE.
Some noticeable players in the automotive pumps market are Delphi Automotive, Aisin Seiki, Magna International, TRW Automotive, SHW, Robert Bosch, Mikuni Corporation, Denso Corporation, KSPG AG, and Johnson Electric.
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This report segments the global automotive pumps market into:
Global Automotive Pumps Market: By Vehicle
- Heavy Commercial Vehicles
- Light Commercial vehicles
- Passenger Cars
Global Automotive Pumps Market: By Product
- Windshield Washer Pumps
- Water Pumps
- Vacuum Pumps
- Transmission Pumps
- Steering Pumps
- Oil Pumps
- Fuel Pumps
- Fuel Injection Pumps
Global Automotive Pumps Market: By Displacement
- Variable Displacement
- Fixed Displacement
Global Automotive Pumps Market: By Technology
- Mechanical Pumps
- Electric Pumps
Global Automotive Pumps Market: By Region
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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