Selbyville, Delaware, Oct. 30, 2023 (GLOBE NEWSWIRE) --
The automotive pumps market valuation is expected to surpass USD 22.5 billion by 2032, as reported in a research study by Global Market Insights Inc.
The market has witnessed significant growth in recent years, driven by the rising demand for vehicles worldwide. Automotive pumps play a crucial role in various automotive systems, including fuel, water, oil, and transmission. With the advent of electric and hybrid vehicles, the demand for electric pumps has surged. Additionally, stringent emission regulations have compelled automotive manufacturers to adopt advanced pump technologies for improved fuel efficiency. Focusing among automakers on product innovations and strategic collaborations to meet the evolving consumer demand will to industry demand. As the automotive industry continues to evolve, the automotive pumps market is estimated to experience sustained growth in the coming years.
The automotive pumps market from the fuel pump segment is poised to grow substantially through 2032, as they ensure a consistent and reliable fuel supply, maintaining optimal engine performance. High-pressure fuel pumps have become more prevalent to support direct fuel injection systems, enhancing fuel efficiency and reducing emissions. The increasing production of vehicles globally and the growing focus on eco-friendly technologies, along with advancements in fuel pump designs, such as electric fuel pumps, with improved reliability & durability, are propelling the market growth.
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Automotive pumps market from the electrical segment predicted to observe surge between 2023 and 2032. Electrical automotive pumps have revolutionized the automotive industry by offering efficient & reliable solutions for various systems. They provide precise control and reduced energy consumption compared to traditional mechanical pumps. Electric fuel pumps, in particular, have gained traction due to their ability to support advanced fuel injection systems and optimize fuel delivery. Additionally, electric coolant pumps ensure better engine cooling, enabling better thermal management in electric and hybrid vehicles.
The automotive pumps market from the light commercial vehicles segment is anticipated to witness significant growth from 2023 to 2032. LCVs, such as vans and pickup trucks, rely on pumps for fuel delivery, cooling, lubrication, and hydraulic functions. Fuel pumps help maintain a steady flow of fuel to the engine, ensuring improved fuel efficiency. Cooling pumps assist in regulating the engine temperature, preventing overheating during heavy-duty operations. Lubrication pumps ensure proper lubrication of engine components, reducing wear and extending the vehicle's lifespan. Hydraulic pumps power hydraulic systems, enabling functions like power steering and lifting mechanisms. The use of market in LCVs is vital for their smooth operation in commercial applications.
Asia Pacific automotive pumps market will experience significant growth up to 2032, led by the expanding automotive industry in the region. Factors such as population boom, urbanization, and increasing disposable incomes have fueled the vehicle sales, leading to a surge in the industry growth. Additionally, the adoption of stringent emission regulations and the shift towards electric & hybrid vehicles are adding to market demand. As the key players are focusing on product development, partnerships, and strategic expansions to capitalize on the growing opportunities in the region, the market in APAC will continue to grow.
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Some of the leading companies operating in the automotive pumps market are Johnson Electric Holdings Limited, Robert Bosch GmbH, Continental AG, Denso Corporation, Valeo SA, and Delphi Technologies .
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Automotive Pumps Market 3600 synopsis, 2018 – 2032
2.2 Business trends
2.3 Regional trends
2.4 Type trends
2.5 Technology trends
2.6 Vehicle type trends
2.7 Sales Channel trends
Chapter 3 Global Automotive Pumps Market Insights
3.1 Impact of COVID-19 outbreak.
3.2 Impact of Russia Ukraine war
3.3 Automotive Pumps industry ecosystem analysis
3.4 Industry Ecosystem
3.4.1 Raw material suppliers
3.4.2 Manufacturers
3.4.3 Distributors channel analysis
3.4.4 End-users
3.4.5 Profit margin analysis
3.4.6 Vendor matrix
3.4.7 Distribution & Dealers
3.4.8 Impact of covid-19 on value chain
3.4.9 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news and initiatives
3.6.1 New product launch
3.6.2 Partnership/collaboration
3.6.3 Merger/acquisition
3.7 Pricing analysis
3.8 Regulatory landscape
3.8.1 North America
3.8.2 Europe
3.8.3 Asia Pacific
3.8.4 Latin America
3.8.5 MEA
3.9 Industry impact forces
3.9.1 Growth drivers
3.9.1.1 Increasing vehicle production
3.9.1.2 Stringent emission and fuel efficiency regulations
3.9.1.3 Rising demand for electric vehicles (EVs)
3.9.2 Industry pitfalls & challenges
3.9.2.1 Volatility in raw material prices
3.10 Growth potential analysis
3.11 Porter’s analysis
3.12 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
