Increasing demand for fuel efficient vehicles, stringent government emission regulations will drive the market at a high CAGR during the forecast period.

The automotive pumps market was valued at USD 12.66 Billion in 2020 and is expected to reach USD 21.26 Billion by year 2028, at a CAGR of 6.60% CAGR during the forecast period (from 2018 – 2028). The growth of the automotive pumps market is majorly driven by the key factors, including the growing implementation of stringent environmental regulations, rising vehicle production and demand, and increasing vehicle electrification. Further, the rising in the adoption of advanced automotive technologies such as gasoline direct injection and automatic transmission is also driving the growth of the automotive pumps market.

Automotive pumps are one of the critical components of the entire automotive system where pumps transfer pressurized automotive fluids to different vehicle components such as the lubrication system, fuel system, coolant system, transmission system, and steering system. Based on the function, automotive pumps are categorized as the oil pump, fuel pump, steering pump, transmission pump, windshield washer pump, and vacuum pump, and others.

 The growth in revenue is primarily attributed to factors such as the increasing penetration of mobile devices, such as smartphones, tablets, and smartwatches, increased affordability and accessibility of the Internet for people worldwide, and rapid digitalization across various industrial sectors. Other factors such as rapid adoption of emerging technologies, such as AI, machine learning, big data analytics, IoT, and cloud computing, the emergence of the 5G technology, rising demand for advanced Wi-Fi systems, increasing need for faster internet services, and growing concerns about user data safety and privacy are also expected to contribute to the global market revenue growth.

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Top 10 Companies Operating in the Global Keyword Market:

Aisin Seiki (Japan), Delphi (UK), Denso (Japan), Johnson Electric (Hong Kong), Bosch (Germany), KSPG (Germany), Magna (Canada), SHW (Germany), and ZF (Germany), and others

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The global market is further segmented into type and application:

Automotive Pumps Market by Type (Revenue, USD Million; 2018–2028)

• Fuel Pump
• Fuel Injection Pump
• Water Pump
• Windshield Pump
• Steering Pump
• Transmission Oil Pump
• Vacuum Pump
• Headlight Washer Pump
• Braking System

Automotive Pumps Market by Technology (Revenue, USD Million; 2018–2028)

• Electric
• Mechanical
  • Diaphragm Pump
  • Plunger-type
• Turbo Pumps

Automotive Pumps Market by Displacement (Revenue, USD Million; 2018–2028)

• Variable Displacement
• Fixed Displacement

Automotive Pumps Market by Vehicle Type (Revenue, USD Million; 2018–2028)

• 2 Wheeler
• 4 Wheeler
  • Passenger Cars
  • Commercial Vehicles

Automotive Pumps Market by Propulsion Type (Revenue, USD Million; 2018–2028)

• Gasoline Operated
• Electric Powered

Automotive Pumps Market by Channel (Revenue, USD Million; 2018–2028)

• OEM
• Aftermarket

 Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.

• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
• Latin America (Brazil, Rest of LATAM)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Further key findings from the report suggest-

• Due to the better operating efficiency, electric pumps are expected to witness a surged growth during the forecast period and it will slow down the growth and usage of mechanical pumps
• Steering pumps are widely used in hydraulic and electro-hydraulic power steering systems of the vehicle; however, with the advancements in technology of steering systems, hydraulic and electro-hydraulic steering systems are getting substituted by Electric Power Steering (EPS) system. The electric power steering system (EPS), which requires an electric motor and sensors, excludes the need for a steering pump.
• To reduce the dependency on the internal combustion engine to create a require vacuum for braking, suppliers and auto-makers are shifting towards electric vacuum pumps
  • Along with the dependency on the IC engine, these pumps also help reduce overall energy requirement, CO₂ emission and maintenance cost
• Continental AG (Germany based automotive supplier) has revealed details of its new active purge pump (APP) technology to meet stricter hydrocarbon evaporation legislation around the globe
• Asia Pacific region is estimated to hold for the major market share in the automotive pumps market
  • Hybrid electric vehicles include an internal combustion engine as well as a battery operated system. Hence, the architecture of an hybrid electric vehicle is the most suitable for installing automotive pumps for regulating the flow of the fluid within the entire system
• Growing demand for hybrid electric vehicles segment is projected to inflate the demand for overall automotive pumps and propel the growth of the global market

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