Automotive Pump Market worth $12.96 billion in 2035 | MarketsandMarkets

Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=242990293

Browse in-depth TOC on "Automotive Pump Market"
391 - Tables 
105 - Figures
399 - Pages

Automotive Pump Market Scope:

Passenger car segment is estimated to hold the largest share during the forecast period.

The vital significance of pumps in passenger automobiles, along with a strong need for fuel-efficient systems, drives demand for automotive pumps in this category. According to OICA figures, 68.02 million passenger automobiles were produced globally in 2023, an 11% increase from 2022. The transition to electric and hybrid vehicles has accelerated the demand for sophisticated pump technologies that increase performance and minimize emissions. As electrification gains traction, demand for electric pumps will increase. Furthermore, tougher emission limits and an emphasis on energy efficiency would encourage manufacturers to select pumps that promote cleaner technology and enhance pump efficiency.

Engine & HVAC segment is estimated to lead the automotive pump market during the forecast period.

Internal combustion engine (ICE) vehicles still hold around 82% of the global market, which drives strong demand for engine and HVAC pumps. Countries such as India, Japan, and the US continue to show high demand for ICE and hybrid vehicles, keeping this segment strong during the forecast period. However, in the next 5-6 years, demand is expected to shift towards electric pumps for applications such as battery cooling systems and other EV-related technologies as electric vehicle adoption increases. Similarly, demand for water pumps for battery cooling to grow with ongoing EV shift, as these vehicles come with advanced BMS, which needs additional cooling pumps for managing battery temperature.

"North America is expected to grow at a significant rate during the forecast period."

North America is home to leading automotive OEMs such as Ford Motors, General Motors, and Fiat Chrysler Automobiles. The US, traditionally a technological leader, is the largest automotive market in the region. A vast customer base and high disposable incomes fuel the demand for vehicles in the country, resulting in increased manufacturing activities by local automotive OEMs. The sales statistics of North America also indicate a promising growth potential, particularly for pickup trucks and SUVs. Thus, the automotive pump market would grow with the rising vehicle sales. Leading companies such as Infineon, Cummins, Gates Corporation, and TI Automotive in the automotive pump market are based in the US.

Canada is also one of the major markets in the region. The country produced approximately 1.6 million vehicles in 2023. Similarly, Mexico has a high demand for automotive pumps with the fast-growing demand for automobiles. The country produced 4.0 million vehicles in 2023, including 0.9 million cars and 2.9 million light trucks. Several OEMs are planning to set up new production facilities in Mexico and Canada, which, in turn, will drive the demand for automotive pumps. Additionally, the North American government is making emission regulations more stringent, and the demand for emission-free vehicles is also expected to grow, further driving the electric pump market.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=242990293

Automotive Pumps Market Dynamics:

Drivers:

1. Global shift toward fuel-efficient vehicles

Restraints:

1. Rapid adoption of electric power steering in passenger cars 

Opportunities:

1. Growing demand for exhaust gas recirculation

Challenge:

1. Decline in aftermarket growth

Key Market Players Automotive Pumps Industry:

Prominent players in the Automotive Pumps Market include as Denso Corporation (Japan), Aisin Corporation (Japan), Continental AG (Germany), Robert Bosch GmbH (Germany), and Mitsubishi Electric Corporation (Japan)

The break-down of primary participants is as mentioned below:

• By Company Type: Tier I - 52%, Tier II - 21%, and OEM – 27%
• By Designation: C- Level Executives - 47%, Directors - 37%, and Others - 16%
• By Region: Asia Pacific - 36%, North America – 26%, Europe – 32%, and Rest of the World – 6%

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=242990293

Automotive Pump Industry Recent Developments:

• In July 2024, Valeo (France) showcased its battery thermal regulation and heat pump thermal management technologies, at IAA Transportation 2024.
• In April 2024, at the Vienna Motor Symposium 2024, SHW AG (Germany) showcased its coolant pump, electrical motor oil pump, electrical main coolant pump, and oil pump.
• In April 2024, at the Vienna Motor Symposium 2024, Magna International Inc (Canada) showcased its active fluid control (AFC) system, which features a reversible electric pump unit for fully active and controllable fluid management.
• In June 2023, Rheinmetall AG (Germany) developed a new plug-and-play solution for heat pumps that provides precise climate control in the passenger compartment and conditions batteries and drive components in EVs. This coolant system can extend vehicle range and material lifespan while improving passenger comfort. The compact design saves installation space and is suitable for 400- and 800-volt applications, offering up to 8 kW of cooling and 11 kW of heating for battery-powered and hybrid systems.
• In January 2023, at the 2023 Haikou NEV Show, Robert Bosch GmbH (Germany) showcased hydrogen circulation pumps designed for high-power fuel cells.

Automotive Pump Market Size - Key Benefits of Buying the Report:

• The report will help market leaders/new entrants with information on the closest approximations of revenue numbers for the overall automotive pump market and its subsegments.
• This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies.
• The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.
• The report also helps stakeholders understand the current and future pricing trends of the automotive pump market.

This report provides insights on:

• Analysis of key drivers (Global shift toward fuel-efficient vehicles, Stringent emission control norms by regulatory authorities, Trend of engine downsizing, and Surge in demand for lightweight automotive components), restraints (Rising demand for electric vehicles, and Rapid adoption of electric power steering in passenger cars), opportunities (Extensive use of ethanol fuel in automotive industry, Increased preference for electric water pumps, Rise of plug-in hybrid electric vehicle sales, and Growing demand for exhaust gas recirculation), and challenges (High cost of electrification of automotive pumps, and Decline in aftermarket growth).
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the automotive pump market.
• Market Development: Comprehensive information about lucrative markets - the report analyses the automotive pump market across varied regions.
• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the automotive pump market.
• Competitive Assessment: In-depth assessment of market share, growth strategies, and service offerings of leading players like Denso Corporation (Japan), Aisin Corporation (Japan), Continental AG (Germany), Robert Bosch GmbH (Germany), and Mitsubishi Electric Corporation (Japan) among others in automotive pump market.

Related Reports:

Automotive Fuel Tank Market - Global Forecast to 2026

Automotive Lightweight Materials Market - Global Forecast to 2027

Exhaust System Market - Global Forecast to 2030

Get access to the latest updates on Automotive Pumps Companies and Automotive Pump Industry Growth

About MarketsandMarkets^™:

MarketsandMarkets^™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets^™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore^™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Rohan Salgarkar MarketsandMarkets Inc.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com/

Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg