Global Automotive Pumps Market Analysis 2022
The Global Automotive Pumps Market is expected to reach $21.54 billion by 2028 growing at a CAGR of 6.1% from 2021 to 2028. Automotive pumps are an essential component in an automobile or any other internal combustion engined device to transfer fluid and to enhance fuel efficiency as well as vehicle performance.
Factors such as the implementation of stringent emission norms by regulatory authorities and increasing demand for lightweight automotive components are driving the growth of the market. However, the increasing cost of electrification of automotive pumps is restraining the growth of the market.
Based on technology, the mechanical segment is going to have a lucrative growth during the forecast period as mechanical automotive pumps use mechanical force to pump the fluid. These pumps are mechanically driven through drive belts or the camshaft and derive power from the engine of a vehicle.
The key vendors mentioned are ZF TRW Automotive Holdings Corp, DENSO Corporation, SHW Group, Robert Bosch GmbH, Pricol Ltd., Magneti Marelli S.p.A, Hitachi Automotive Systems, Ltd., KSPG AG, Johnson Electric Holdings Limited, HELLA KGaA Hueck & Co., Magna International Inc., Delphi Automotive LLP, Continental AG, TI Automotive Ltd and JTEKT Corporation.
Electric Vehicle Types Covered:
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