New York, United States , Dec. 07, 2022 (GLOBE NEWSWIRE) -- The Global Automotive Pumps Market Size was valued at USD 16.58 Billion in 2021 and is projected to reach USD 26.98 Billion by 2030, growing at a CAGR of 6.38% from 2021 to 2030. One of the most crucial parts of a vehicle are the automotive pumps. Pumps for automobiles enhance driving dynamics and fuel economy. They are used in numerous auto parts, including fuel, steering, lubrication, and coolant. A gasoline supply pump, fuel injection pump, transmission oil pump, engine oil pump, coolant pump, windshield washer pump, and vacuum pump are all examples of automotive pumps. To clean systems and lessen system wear and tear, these pumps circulate lubricating oils, water, and coolant.
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Automotive pumps are primarily used in cars to move automotive fluids, although they are increasingly being employed to increase vehicle efficiency and environmental friendliness. The growing need for environmentally friendly solutions has forced producers to promote effective pumps. Several automobile systems, including steering, cooling, transmission, fuel, and oil, need pumps. Expanding vehicle production, increasing vehicle jolt, developing environmental regulations' execution, and expanding use of advanced automotive innovations like gas direct injection and programmed transmission are acting as market-driving factors.
The expanding automotive industry has led to an increase in demand for automotive pumps. A number of reasons, including as a rise in vehicle production, higher pollution rules, and the adoption of new technologies, are driving the market. The majority of new technologies, such as automated transmissions and gasoline turbocharged direct injection, are employed to increase a vehicle's performance. Furthermore, a trend shift toward electrification and a higher emphasis on fuel efficiency are both contributing to the growth of the market for vehicle pumps. Additionally, manufacturers are taking care to design for efficient automobile pumps as consumer demand for environmentally friendly services rises. A growing consumer preference for fuel-efficient vehicles is also driving significant demand growth in the market for automotive pumps.
The need for automotive pumps is expected to rise as commercial and passenger vehicle sales rise in developing countries. The increasing demand for automobiles that are both environmentally friendly and fuel-efficient has inspired manufacturers to develop efficient fuel injection systems. therefore, expediting the market's expansion. Thanks to technical advancement, electric pumps have replaced mechanical pumps, improving the overall fuel efficiency of the vehicle. This is predicted to fuel the market's growth throughout the course of the forecast period. The high cost of vehicle electrification and changes in raw material prices are two factors, however, that could have an effect on the market's growth.
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As more automotive segments become electric, the cost of the car as a whole has gone up. The electrification of the pump for motor application is finished using ECUs, sensors, and microcontrollers with actuators. Vehicle electrification makes them lighter and more compliant with rigorous pollution regulations. Electric parts are less reliable than mechanical ones due to complicated high voltage circuits and inductive losses, but they perform better.
Covid 19 Impact on Global Automotive Pumps Market
Automotive partners now have a lot of reason to be concerned about the COVID-19 pandemic. The automotive pumps industry has come to an end due to supply disruptions and the suspension of vehicle production. For the upcoming several quarters, car OEMs will be quite concerned about lower vehicle sales following the epidemic. According to experts, there is a slim chance of recovering the automobile deal. In any case, the standards for fossil fuel byproducts set by various countries will require the automotive pumps market to experience a significant uptick. Prior to that, slower growth of the automotive pumps market will be caused by lower vehicle sales and unexpected halts in the advancement of new car technologies.
Global Automotive Pumps Market, By Type
The market is segmented according to type, with categories for fuel injection pumps, fuel pumps, water pumps, windshield pumps, steering pumps, and other products. The steering pumps market segment must be dominant if it is to dominate the automobile pumps market. The water-driven guiding framework found in the hatchback section of passenger cars and the same guiding framework found in commercial vehicles both contribute to the market expansion of automotive pumps. Steering pumps are employed in systems that direct force using water or electricity. Electric Power Steering (EPS) systems, as opposed to water-driven and electro-pressure-driven guiding systems, are taking their place as a result of developments in guiding system technology. The EPS architecture, which requires an electric engine and sensors, eliminates the need for a steering pump.
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Global Automotive Pumps Market, By Technology
Based on technology, the market is segmented into electrical and mechanical sectors. Mechanical pumps are predicted to dominate the market for automobile pumps. Mechanical vehicle pumps employ mechanical power to push the liquid, whilst electric syphons use electric energy from an engine to pump the liquid. Drive belts or the camshaft of a vehicle's motor accurately drive mechanical pumps, also referred to as geared pumps. To boost the efficiency of cars, electronic pumps are increasingly being utilised in place of mechanical pumps, therefore the market for automotive pumps will need to expand gradually over a very long period of time.
Global Automotive Pumps Market, By Vehicle Type
The market is split into three categories based on the kind of vehicle: passenger cars, light commercial vehicles, and heavy commercial vehicles. The rise in passenger vehicle sales is fueling this industry's expansion. The passenger automobile category accounts for the largest share of the whole industry in terms of value. Therefore, compared to other vehicle segments, the market size for passenger cars in the Automotive Pumps Market is much bigger. The market for light commercial vehicles is anticipated to expand steadily.
Global Automotive Pumps Market, By Region
The Global Automotive Pumps Market is divided into four regions based on region: North America, Europe, Asia Pacific, and the Rest of the World. The two geographical business marketplaces with the highest projections are Europe and the Asia-Pacific area, which together have made up the largest portion of the sector. Asia Pacific is anticipated to maintain its dominance in the global market for automotive pumps. Additionally, as a result of increased output in the auto industry and increased usage of cutting-edge automotive technologies. The region's fastest economic development is anticipated to occur in the Middle East and Africa.
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Key Companies & Recent Developments: The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major key players are Concentric AB, Continental AG, Delphi Automotive LLP, DENSO Corporation, HELLA KGaA Hueck & Co., Hitachi Automotive Systems, Ltd., Johnson Electric Holdings Limited, JTEKT Corporation, KSPG AG, Magna International Inc., Magneti Marelli S.p.A, Robert Bosch GmbH, Pricol Ltd., SHW Group, TI Automotive Ltd, ZF TRW Automotive Holdings Corp and others 20+ prominent key players we have added in the final report. Global Economy: Recession Risk Rising Analysis and Russia-Ukraine Conflict War Impact we have added in the final premium report.
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