The global automotive pumps market is anticipated to witness a gradual growth by 2025. Increasingly severe emission norms governing fuel efficiency and increasing vehicle production along with utilization of advanced pumps to control vehicular emissions across the globe are the other major factors helping the market to grow.
Automotive pumps are mainly used for transferring automotive fluids in vehicles; though, these are being increasingly used to improve fuel efficiency and vehicle performance. Increasing demand for environment-friendly solutions has influenced manufacturers to develop well-organized pumps. Pumps are used in several vehicle systems such as steering, coolant, transmission, fuel, and lubrication. Increasing vehicle production, rising vehicle electrification, growing implementation of environmental regulations, and increasing adoption of advanced automotive technologies such as gasoline direct injection and automatic transmission are acting as driving factors to the market.
The global automotive pumps market is segmented on the basis of pump type, sales channel, technology, vehicle type, and by region.
On the basis of pump type, the global market is classified into transmission pump, fuel pump, oil pump, steering pump, water pump, windshield pump, vacuum pump, and fuel injection pump. Well-organized delivery of fuel from the fuel tank to the engine is critical to the very functioning of an automobile. Fuel pumps are consequently an important automotive technology. The almost complete transition from carburetor-based engines to fuel injection engines has made electric fuel pumps hugely popular.
The fuel injection pumps market is projected to show the fastest growth during the forecast period with maximum market share due to the increased demand for fuel-efficient vehicles. The forthcoming severe emission standards are expected to shoot the growth of the automotive fuel injection pump market across the globe. The demand for transmission pumps has seen a rapid rise in the past few years and controls the automotive pumps market. This growth is accredited to rise in production of automatic transmission systems in both - the developed and developing nations.
On the basis of sales channel, the global market is classified into OEM and aftermarket. Auto OEMs are stepping up their investments in product R&D in attempts to develop superior fuel pump design and control electronics. OEMs segment is expected to grow during the forecast period with maximum market share.
On the basis of technology, the global market is classified into mechanical pump and electrical pump. The global market for automotive electrical fuel pumps is expected to gain maximum market share by 2025; driven by the recovery in automotive production and sparkling innovation in fuel pump design and control electronics. Over the last two years, these pumps have almost completely replaced mechanical fuel pumps.
On the basis of vehicle type, the global market is classified into Passenger car, light commercial vehicles, and heavy commercial vehicles. Passenger car pumps are the fastest-growing segment of the vehicle type segment. Passenger car segment is expected to account for the maximum market share over the forecast period. The growth can be accredited to the rising demand for passenger cars in developing countries and rise in the income levels in the developing nations.
Geographically, the global market is segmented into North America, Eastern Europe, Western Europe, Asia Pacific excluding Japan (APEJ), Middle East and Africa, Latin America, and Japan. The most projecting regional markets are western Europe and APEJ which together have been accounted for maximum market share in 2015. APEJ is expected to remain leading in global automotive pumps market throughout the forecast period, due to increasing vehicle production, and increasing adoption of advanced automotive technologies.
Middle East & Africa is expected to be the fastest-growing region in the market over the forecast period. The market in North America is expected to account for maximum share by 2025. Western Europe is expected to be the second-largest market, expected to account for significant market share by the end of 2025.
Some of the key operating players in the automotive pumps market are Seiki Co. LTD, Denso Corporation, Johnson Electric, Robert Bosch GmbHand Magna International among others. Fixed displacement pumps manufacturers such as SHW AG, Delphi Automotive LPP, TRW Automotive, and KSPG AG, and electric pump manufacturers such as Aisin Seiki Co., Ltd., Delphi Automotive LPP, Robert Bosch GmbH, and Mikuni Corporation.
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The automotive & transportation industry is amongst the most exposed verticals to the ongoing COVID-19 outbreak and is currently amidst unprecedented uncertainty. COVID-19 is expected to have a significant impact on the supply chain and product demand in the automotive sector. The industry's concern has moved on from being centered on supply chain disruption from China to the overall slump in demand for automotive products. The demand for commercial vehicles is expected to plummet with the shutdown of all non-essential services. Furthermore, changes in consumer buying behavior owing to uncertainty surrounding the pandemic may have serious implications on the near future growth of the industry. Meanwhile, liquidity shortfall and cash crunch have already impacted the sales of fleet operators, which is further expected to widen over the next few months. We are continuously monitoring the COVID-19 pandemic, and assessing its impact on the growth of the automotive & transportation industry. The report will account for Covid19 as a key market contributor.