An automotive Pump is a device installed in automobiles to transmit fluids (liquid or gas) by either decreasing or increasing the pressure on fluids. Various types of pumps are installed in automobiles depending on the fluid being transmitted and the application of the pump. For example, fuel pumps draw fuel from the tank through a pipe to the carburetor via a fine grain filter. The global Automotive Pump Market is fueled by the growing usage of vehicles worldwide, along with increasing research and development efforts to produce fuel-efficient automobiles that adhere to emission regulations. Major automotive manufacturers are heavily investing in state-of-the-art automotive components, integrating smart technologies such as automatic transmission, gasoline direct injection, and gasoline turbochargers, which require automotive pumps for optimal functioning. Automatic transmission relies on a torque converter, which works on the concept of fluid coupling and requires an automotive pump called the transmission pump to deliver the required amount of fluid inside the torque converter. The increasing adoption of automatic transmission in vehicles worldwide is driving the sales of transmission pumps, thereby boosting the growth of the global automotive pump market.
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Automotive pumps are critical components of vehicles and need to be replaced when necessary. Malfunctioning of an automotive pump can lead to engine failure, making their replacement vital. For example, the oil pump acts as the heart of the lubrication system, drawing oil from the oil pan and circulating it around the engine to reduce wear and tear. If the oil pump malfunctions, it can lead to expensive engine failure. Therefore, the aftermarket segment of the global automotive pump market is witnessing significant demand. However, the development of innovative technologies is expected to reduce the replacement ratio of automotive pumps, which may hinder the aftermarket growth of the global automotive pump market.
The global automotive pump market can be segmented based on pump type, technology, sales channel, vehicle type, displacement type, and region. Pump types include transmission pump, fuel pump, oil pump, steering pump, water pump, windshield washer pump, and vacuum pump. The majority of market share is held by the oil pump, followed by the water pump in 2020. The oil pump is used for engine lubrication, while water pumps are used for cooling the engine. Geographically, the global automotive pump market is segmented into Asia Pacific, North America, Europe, South America, Middle East, and Africa. Asia Pacific and North America are the major demand drivers for automotive pumps, making them leaders in the mainstream market.
The sales of automotive pumps declined in 2020 compared to 2019 due to the strict lockdown measures imposed by most countries to contain the spread of the COVID-19 virus. The lockdown led to the temporary closure of automotive pump manufacturing facilities, resulting in production losses. Additionally, social distancing norms limited the number of workers in facilities, further hampering workflow. However, the market has shown positive signs of recovery in the first quarters of 2021 and is expected to fully recover by around 2023.
Key players in the automotive pump market include :
- Aisin Group
- Robert Bosch GmbH
- DENSO Corporation
- ZF Friedrichshafen AG
- Continental AG
- Rheinmetall AG
- Hitachi Ltd.
- BorgWarner Inc.
- Johnson Electric Holdings Limited
- SHW AG
Global automotive pump is fragmented with a lot of well-established players having presence in several countries and Aisin Group holds the highest market share and is among the top five market players globally, Robert Bosch GmbH ranks second in terms of market share in the overall automotive pump market on account of strong presence worldwide even in the emerging countries. Additionally, there are other prominent players such as Denso Corporation, ZF Friedrichshafen AG, Continental AG, Rheinmetall AG, Hitachi, Ltd., BorgWarner Inc., Johnson Electric Holdings Limited, SHW AG, which are holding a significant position in the global automotive pump market.
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“Asia Pacific is anticipated to hold the largest revenue shares of the market in the upcoming years on the account of largest automobile fleet across the globe. However, North America is giving neck to neck competition. Moreover, increasing installations of automatic transmissions in automobiles is boosting demand for automotive pumps globally. Furthermore, the market’s growth is being aided by the quick research and development in the field. Emerging market players are suggested to invest and focus on the research and development of the automotive pumps for the brand establishment. Collaborations and regulated deals with the established market players would help the prospects of the new market player,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based Global management consulting firm.
“Automotive Pump Market – Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2016-2026, Segmented By Pump Type (Transmission Pump, Fuel Pump, Oil Pump, Steering Pump, Water Pump, Windshield Washer Pump, Vacuum Pump), By Technology (Mechanical Pump, Electrical Pump), By Sales Channel (OEM, Aftermarket), By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle), By Displacement Type (Fixed Displacement, Variable Displacement), By Region”, has evaluated the future growth potential of global automotive pump market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global automotive pump market.
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TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research’s core values are value, integrity and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci’s client leads rather than follow market trends. Not bound by legacy, TechSci’s cutting-edge research model leverages its decades of research knowledge and increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients.
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