Global Automotive Pump Market Report and Forecast 2023-2028

Global Automotive Pump Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global automotive pump market reached a value of USD 17.72 billion in 2022. Aided by the rapid advancements in vehicle technologies and a burgeoning demand for fuel-efficient automotive components, the market is projected to further grow at a CAGR of 5.9% between 2023 and 2028 to reach a value of USD 25.12 billion by 2028.

Automotive pumps, essential in ensuring efficient fluid movement within a vehicle, have become a critical component in contemporary vehicle designs. They cater to various vehicle functionalities, including fuel injection, coolant regulation, transmission, and oil circulation. Beyond their primary purpose, these pumps have been instrumental in augmenting the overall performance, durability, and efficiency of vehicles.

One of the pivotal propellants of the automotive pump market growth is the escalating demand for fuel-efficient vehicles. As environmental concerns gain prominence and fuel prices fluctuate, consumers and automakers alike are emphasising the need for vehicles that consume fuel judiciously. Automotive pumps, by ensuring optimal fluid circulation, play a critical role in enhancing fuel efficiency, making them indispensable in modern vehicle assemblies.

Additionally, the swift transition to electric vehicles (EVs) has redefined the automotive pump market outlook. While internal combustion engine vehicles largely employ mechanical pumps, EVs necessitate electric automotive pumps. As the automotive world edges closer to electrification, the demand for these electric pumps is anticipated to witness an exponential increase, further energising the market.

Moreover, with technological advancements permeating the automotive domain, vehicles today are becoming increasingly complex, demanding specialised pumps for various functionalities. As per the automotive pump market analysis, the need for high-pressure fuel pumps in direct fuel injection systems, vacuum pumps in brake systems, and other specialised pumps in advanced vehicle systems are testament to the growing relevance of automotive pumps in the ever-evolving automotive landscape.

Furthermore, the automotive industry’s pivot towards digitisation and smart technologies has opened up avenues for innovations in automotive pump designs. Intelligent pumps, which can adapt to changing vehicle conditions and deliver optimal performance, are steadily gaining traction, underlining the fusion of technology and functionality in the sector.

The increasing demand for vehicles, especially in emerging economies, is also significantly increasing to the automotive pump market size. As urbanisation progresses and purchasing power increases, the desire for personal mobility solutions in these regions is surging, indirectly spurring the demand for automotive pumps.

Market Segmentation

The market can be divided based on type, vehicle type, technology, displacement, EV type, and off-highway vehicle type, and region.

Market Breakup by Type

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

Market Breakup by Vehicle Type

• Passenger Car (PC)
• Light Commercial Vehicle (LCV)
• Heavy Commercial Vehicle (HCV)

Market Breakup by Technology

• Electric Pump
• Mechanical Pump

Market Breakup by Displacement

• Fixed Displacement
• Variable Displacement

Market Breakup by EV Type

• Battery Electric Vehicle (BEV)
• Fuel Cell Electric Vehicle (FCEV)
• Hybrid Electric Vehicle (HEV)
• Plug-In Hybrid Vehicle (PHEV)

Market Breakup by Off-Highway Vehicle Type

• Construction Equipment
• Mining Equipment

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global automotive pump market. Some of the major players explored in the report by Expert Market Research are as follows:

• Aisin Corporation
• BorgWarner Inc.
• DENSO Corporation
• Johnson Electric Holdings Limited
• Robert Bosch GmbH
• Rheinmetall AG
• Continental AG
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.