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Global Automotive Pumps Market Projected to Experience Major Revenue Boost during the Period between 2017 to 2026

Dec 14th 2018 at 12:09 AM

Increasing inclination of automobile manufacturers towards adoption of green technologies has had a seminal impact on the dynamics of automotive pumps market. In the years to come, advancements in automotive pumping technology will have the potential to maximize the influence of automotive pumps in boosting the efficiency of automobiles.

Automotive pumps convey automotive fluids in a vehicle. Common fluids pumped by automotive pumps include fuel, oil, lubricants, water and coolants. Automotive pumps are also used for steering and transmission operations. Displacement capacity of automotive pumps are considered while gauging a vehicle’s performance. Through advanced pumping technologies, some automotive pumps are being applied in a car’s suspension system.

Fact.MR’s recently published report on the global market for automotive pumps projects that in 2017, over US$ 48 Bn worth of automotive pumps will be sold across the globe. However, the report also underlines that automobile manufacturers will prompt OEMs to develop single automotive pumps that can perform diverse automotive pumping functions. An innovation as such will be advantageous for the performance of vehicles, but the emergence of all-purpose automotive pump will impede the market’s overall growth, eliminating the need for function-specific pumps. By the end of 2022, the global market for automotive pumps is projected to reach US$ 60 Bn, albeit, at a sluggish pace, exhibiting a moderate CAGR.

Demand for Fuel Injection Pumps to Ascent

With more than two-fifth share, fuel supply pumps are anticipated to remain in great demand, pertaining to their importance in improving the performance of automobile engine. By the end of 2022, more than US$ 25 Bn revenues will be amassed from global sales of fuel supply pumps. Growing preference to engines developed on advanced technologies is stimulating the demand for automotive pumps such as fuel injection pumps. In 2017, the global market for automotive pumps is likely to procure revenues worth nearly US$ 10 Bn from sales of fuel injection pumps.

Electrical Pumping Technology draws Highest Revenue Share

According to the report’s present projections, only one-fourth of global automotive pump market value will be accounted by mechanical pumping technology, indicating an outright preference to electrical pumping technology. With a majority of vehicles manufactured on advanced electrical engineering, adoption of electrical automotive pumps becomes inferable. Throughout the forecast period, more than three-fourth of the value of global automotive pumps market will be procured by sales of automotive pumps developed on electrical pumping technology. This segment is anticipated to showcase a healthy revenue growth at steady CAGR.

For more information on this report, please visit: https://www.factmr.com/report/25/automotive-pump-market

Plastic Bumpers are Apt for Passenger Cars

The principal reason behind OEMs promoting the use of plastic bumpers over metal bumpers is their advantage in improving vehicle fuel efficiency. This advantage is congenial to passenger cars, which are supposed to be lightweight and more fuel efficient. Commercial vehicles, on the other hand, might do well by replacing the fragile plastic bumpers with their sturdy, metal counterparts. In 2017, nearly 70% of the global automotive plastic bumper revenues are pegged to be accounted by passenger cars. To the contrary, revenue growth of heavy commercial vehicle and light commercial vehicle segments is expected to reflect below 4% CAGRs over the forecast period.

Promising Growth in Aftermarket Sales of Plastic Bumpers

The report further points out a significant rise in sales of automotive plastic bumpers across aftermarket channels. Customization of used cars is observed as the driving force for revenue growth of automotive plastic bumper aftermarket. Nevertheless, OEMs will remain largest sales channel for automotive pumps throughout the forecast period. By the end of 2022, OEMs will account for more than three quarters of global market value for automotive plastic bumpers.

Competition Tracking

Delphi Automotive LPP, Denso Corporation, Magna International Inc., Robert Bosch GmbH, Magneti Marelli S.p.A, ZF Friedrichshafen AG, Rheinmetall Automotive AG, AISIN SEIKI Co., Ltd., Mikuni Corporation, Concentric AB, and Pricol Limited are key players in the global automotive pumps, which are comprehensively profiled in a competitive landscape included in the report.

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