Radar Sensor Market Forecasts to 2028 – Global Analysis By Type (Imaging radar and Non-imaging radar), Technology (Time domain reflectometry, Brake lining, Silicon-germanium and Other Technologies), Components (Video amplifier, Antenna and Other Component

Radar Sensor Market Forecasts to 2028 – Global Analysis By Type (Imaging radar and Non-imaging radar), Technology (Time domain reflectometry, Brake lining, Silicon-germanium and Other Technologies), Components (Video amplifier, Antenna and Other Components), Range (Short-range radar sensor, Mid-range radar sensor and Long-range radar sensor), Band (HF, VHF, and HUF Bands, L, S, C, and X Bands and Ku, K, Ka, V, and W Bands), Application (Automotive, Aerospace & Defense and Other Applications), End User and By Geography

According to Stratistics MRC, the Global Automotive Pump Market is accounted for $ 19.44 billion in 2022 and is expected to reach $31.37 billion by 2028 growing at a CAGR of 8.3% during the forecast period. Automotive Pumps are one of the most important parts of any vehicle. Pumps for automobiles enhance driving dynamics and fuel economy. They are used in numerous auto parts, including fuel, steering, lubrication, and coolant. A gasoline supply pump, fuel injection pump, transmission oil pump, engine oil pump, coolant pump, windshield washer pump, and vacuum pump are all examples of automotive pumps. To clean systems and lessen system wear and tear, these pumps circulate lubricating oils, water, and coolant.

According to the World Health Organization (WHO), ambient air pollution caused 4.2 million deaths in 2016. It also has been found by the Environment Protection Agency (EPA) that within the U.S., motor vehicles account for nearly 75% of carbon monoxide emission.

Market Dynamics:

Driver:

Increasing trend of engine downsizing

Engine downsizing, which utilises advanced technologies like turbochargers, superchargers, and direct injection, is one of the most current trends in the automotive industry. OEMs are placing more and more emphasis on adopting compact engines that have power on par with or more than the current engines. OEMs are also making an effort to reduce the engine's size in order to comply with government-set emission standards. Smaller engines contribute to a lighter overall vehicle, which increases the fuel efficiency of both gasoline and diesel engines.

Restraint:

Low replacement rate and aftermarket potential

Automotive pumps are a crucial component of the driveline, auxiliary, and transmission systems. These systems are rarely updated. The replacement rate varies between 0.1% and 1% of the global vehicle parc depending on the type of pump. During the forecast period, declining replacement rate is anticipated to continue due to growing technological developments. Therefore, it is anticipated that the aftermarket's extremely limited potential and low replacement rate will constrain the growth of the global automotive pumps market.

Opportunity:

Providing custom-made pumps

To maintain a competitive advantage in the market, the majority of automotive pump manufacturers place a premium on product differentiation. In order to meet the constantly changing needs of consumers, automakers are making significant changes to the designs of automobiles and related products. Additionally, these suppliers offer tailored and demand-specific goods to automakers, like reduced vibration, brushless gasoline pumps, and small pumps. Offering such items may present an opportunity to land long-term supply agreements with automakers.

Threat:

Increase in the cost of electrification of automotive pumps

The cost of the car as a whole has increased due to the electrification of more automotive parts. Electronic parts including ECUs, sensors, and microcontrollers with actuators are installed to electrify pumps used in engine applications. A vehicle's weight can be reduced through electrification, which also helps it adhere to strict pollution standards. Although sophisticated high voltage circuits and inductive losses make electric components less reliable than mechanical components, they perform better than mechanical components.

Covid-19 Impact

The global Automotive Pump market has been significantly impacted by the COVID-19 situation. The Automotive Pumps industry has come to a halt due to the suspension of car production and supply disruptions. Lower vehicle sales following the pandemic will be a major source of concern for car OEMs in the coming quarters. According to experts, there is a slim chance of recovering the automobile deal. In any case, the limits for fossil fuel byproducts set by various countries will necessitate the automotive pumps market to have a significant uptick. Prior to that, slower growth of the automotive pumps market would be caused by fewer vehicle sales and unexpected halts in the evolution of new car technologies.

The passenger car segment is expected to be the largest during the forecast period

The passenger car segment is estimated to have a lucrative growth, due to the rising sales. In terms of value, the passenger car sector held the biggest market share in 2020. As a result, the passenger car category has a substantially bigger market share in terms of value than the other vehicle segments in the market for automotive pumps. The COVID-19 effect on passenger cars showed a favourable response as people all across the world are choosing private vehicles over public transportation.

The electric segment is expected to have the highest CAGR during the forecast period

The electric segment is anticipated to witness the fastest CAGR growth during the forecast period. As electric pumps can be utilised just when necessary since they can be controlled considerably more precisely and operate independently of combustion engine activity. This improves thermal resistance, fuel efficiency, and emission control. Continental's electric fuel pump, for example, reduces carbon emissions by 1.5-2 g per km in 1.8L diesel engines.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the growing purchasing power of consumers. Additionally, the region's increasing sales of passenger cars and commercial vehicles are boosting the market's expansion. In the last ten years, concerns about ecological imbalance brought on by automobile emissions have grown in nations like India, China, Malaysia, and Thailand. Major automakers have been compelled by these worries to turn their attention to fuel-efficient automobiles. Asia Pacific is therefore anticipated to experience slight market development during the forecast period.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period. As Europe serves as a centre for car production unit manufacture. In Europe, Germany is the industry leader, particularly for electric automobiles. Additionally, the ICT sector's innovation is cited as a key competency for this region's success. Major market companies who already exist are making significant investments in R&D, which is anticipated to further fuel the need for automotive pumps in this area.

Key players in the market

Some of the key players profiled in the Automotive Pump Market include SHW Group, TI Automotive Ltd, HELLA KGaA Hueck & Co., Concentric AB, Continental AG, Johnson Electric Holdings Limited, JTEKT Corporation, Robert Bosch GmbH, Pricol Ltd., Delphi Automotive LLP, DENSO Corporation, ZF TRW Automotive Holdings Corp, Magna International Inc., Magneti Marelli S.p.A, Hitachi Automotive Systems, Ltd., KSPG AG

Key Developments:

In December 2020, Aisin Tohoku Co. of the Aisin Group announced the expansion of its factory to begin production of small and medium-sized motor products, mainly electric water pumps, by 2022. The electric water pump is to be newly produced in the plant.

In April 2019, Aisin Corporation announced to make a new investment to enhance the business ability of its Automatic Transmission (AT) business in the US and reinforced its manufacturing site. In the future, Aisin AW will help develop the automobile industry in the US by strengthening its capability of manufacturing ATs for SUVs. This move by the company could help to enhance its product offerings related to automotive pumps.

Types Covered:
• Fuel Supply Pump
• Steering Pump
• Coolant Pump
• Fuel Injection Pump
• Variable Engine Oil Pump
• Transmission Oil Pump
• Conventional Engine Oil Pump
• Windshield Washer Pump
• Vacuum Pump

Vehicle Types Covered:
• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles

Technologies Covered:
• Electric
• Mechanical

Displacements Covered:
• Variable Displacement
• Fixed Displacement

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

Off Highway Vehicles Covered:
• Construction Equipment
• Mining Equipment

Sales Channels Covered:
• Original Equipment Manufacturer (OEM)
• Aftermarket

Applications Covered:
• Body & Interior
• Engine & HVAC
• Powertrain

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements