Automotive Pumps Industry on Course for $18.0 Billion by 2027

 The global automotive pumps market size was valued at USD 18.0 billion by 2027 and is expected to reach USD 14.8 billion in 2022, at a CAGR of 4.1% during the forecast period 2022-2027.  Automotive pumps perform different functions including raising, compressing, or transferring fluids by mechanical action and facilitate circulation of fluids around a system for a vehicle’s operational performance.

Market Dynamics:

Driver: Increasing trend of engine downsizing

One of the recent trends in the automotive industry is engine downsizing, which is done by using upgraded technologies such as turbochargers, superchargers, and direct injection technology. OEMs are increasingly focusing on using small engines with power equal to or greater than the existing engines. Smaller engines help decrease the overall weight of the vehicle and, thus, improve fuel efficiency in gasoline and diesel engines. For instance, most of the Mercedes-Benz and BMW cars manufactured today are equipped with a 4-cylinder engine instead of a 6-cylinder engine. A 4-cylinder engine increases the pressure required in the engine to provide the same power as a large engine with better efficiency. OEMs are also attempting to downsize the engine to meet the emission norms set by governments. The downsizing of the engine is expected to create new business opportunities for the automotive fuel injection pump market in the coming years.

Opportunity: Robust growth in sales of plug- in hybrid electric vehicles

A plug-in hybrid electric vehicle (PHEV) is a type of electric vehicle where the battery can be recharged by plugging a charging cable into an external electric power source along with its on-board internal combustion engine-powered generator. PHEVs are witnessing high penetration into the passenger car segment, but there are also PHEV versions of commercial vehicles and vans, utility trucks, buses, trains, motorcycles, and mopeds. PHEV shares the attributes of an electric vehicle and the traditional internal combustion engine. Growth of this segment is expected to offer lucrative opportunities for the growth of the fuel pumps market as these vehicles have a conventional IC engine where the fuel pump is used to supply fuel from the tank to the engine, which is then injected into the cylinder.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=242990293

By Technology: Electric segment is the fastest-growing segment of the automotive pump market during the forecast period

Electric pumps, which work with the help of electric motors, are gradually replacing mechanical pumps. The use of electric pumps is increasing due to their many advantages over mechanical pumps. Electric fuel pump provides more fuel efficiency as compared to mechanical fuel pump. However, the installation of electric pump requires sophisticated electrical circuit, which increases the cost. Major global automakers are now using electric pumps in vehicular architecture.

By Vehicle Type: Passenger car segment is expected to be the fastest-growing segment in the automotive pump market

Growing number of favourable government policies, mandating the reduction in CO2 emissions in new vehicles and growing disposable income are expected to create opportunities for the passenger car market growth. Also, economic growth in emerging countries has enhanced the purchasing power of people hence resulting in the growth of passenger car segment. The passenger car segment is expected to grow 4.1% CAGR reaching USD 18 billion in 2027 from USD 14.8 billion in 2022.

Asia Pacific: India is expected to grow at the highest CAGR during the forecast period.

Owing to favourable government policies, such as 100% FDI with prior government approval, leaner policies for manufacturing and imports for licensing and approvals, and World Trade Organization (WTO) compliant policies, the automotive industry in the country is growing at a higher CAGR than most countries in the region. Various government initiatives, such as Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME), will foster the popularity of EVs and drive the sales of automotive electric pumps in India. The passenger car segment in India for automotive pumps is expected to grow at the highest CAGR during the forecast period and is expected to be the largest market during the forecast period. The pickup in economic activity and several government initiatives are likely to propel the automotive market growth in India, thus leading to growth in the automotive pumps market

Key Market Players:

The major market players include Aisin Corporation (Japan), Denso (Japan), Robert Bosch GmbH (Germany), Valeo (France), Continental AG (Germany) among others.

Request Free Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=242990293

Comments

Post a Comment

Popular posts from this blog

Battery Sensor Market Projected to reach $4.92 billion by 2025

  The report  “ Battery Sensor Market  by Voltage Type (12V, 24V, and 48V), Communication Technology (LIN and CAN), Hybrid Vehicle (HEV and PHEV), Vehicle Type (Passenger Car, LCV and HCV), and Region – Global Forecast to 2025″ , The automotive battery sensor market is estimated to be USD 2.35 billion in 2018 and is projected to reach a market size of USD 4.92 billion by 2025, growing at a CAGR of 11.09% during the forecast period. The market is driven by factors such as the rising demand for fuel-efficient vehicles, increasing vehicle production, rising emission concerns, and growing demand for high- end cars. The 12V segment is estimated to be the fastest growing in the Battery Sensor Market   during the forecast period The increasing demand for fuel-efficient vehicles has led to the introduction of IBS for 12V lead-acid batteries. IBS helps to curb CO2 emissions and increases the fuel efficiency of a vehicle. It also helps to optimize the electrical power system a...
Read more

Hybrid Vehicle Strategies: OEM Portfolio Outlook & Market Forecast to 2030

The hybrid market is projected to grow from 12.4 million units in 2024 to 28.5 million units by 2030 at a CAGR of 13.0%. The major drivers of the market are stringent emission norms set by the governments, an increase in the adoption of sustainable vehicles, and superior efficiency without range anxiety or charging or battery discharge. By region, Europe and China are projected to lead the hybrid market during the forecast period. On the other hand, North America and Asia (excluding China) are witnessing significant demand for hybrid vehicles. "SUVs will account for the largest share of hybrids in 2030." SUVs have gained popularity in the past few years. Considering all the powertrains, SUVs hold over half of the total sales globally. Similarly, over half of the hybrid (HEV+PHEV) sales are in the SUV segment. This segment has rapidly gained popularity among consumers owing to its road presence, longer range in the case of hybrids, and advanced safety and comfort features. Co...
Read more

In-Vehicle Infotainment Market Growth Insights: Size, Share, and Trends by 2028

  The  in-vehicle infotainment market is projected to grow from USD  16.4 billion in 2023 to USD  28.3 billion by 2028, at a CAGR of 11.6%. Government mandates on vehicles and the emergence of various technologies such as 5G and AI, and ADAS and other autonomous solutions are expected to offer promising growth opportunities in the In-vehicle infotainment market. The growth of the in-vehicle infotainment market can be attributed to the rising demand for entertainment, safety & security, navigation services, and rear-seat entertainment. Additionally, factors such as government mandates for electronic logging devices (ELD), growth in the smartphone industry, 5G infrastructure, and use of cloud technologies with artificial intelligence would create promising growth opportunities in the In-vehicle infotainment market. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=538 “Embedded infotainments are estimated to accou...
Read more