Automotive Pump Market

What Is The Future Outlook On Global Automotive Pump Market In Comparison To Historical Sales?

The automotive pump market has continued exhibiting solid growth. According to FMI, the market has grown at above 5% CAGR between 2016 and 2020. Automotive pump components are increasingly used, driven by the demand for lightweight and rapid response pumps. Despite this, the market registered slowdown in sales as the unprecedented COVID-19 outbreak crippled production and sales across the automotive sector.

Nonetheless, FMI has predicted the automotive pump market to grow at 6.1% CAGR through 2031. With an increasing number of carmakers focusing on making driving greener, the demand for electric automotive pumps is set to rise remarkably. Despite slump in vehicle production amid pandemic, consistently rising demand for electric vehicles and hybrid vehicles will continue pushing the demand for automotive pumps.

How is Soaring Pollution Affecting Automotive Pumps Sales?

Rising level of pollution is one of the key factors enabling automotive pumps sales. The automotive sector has remained one of the key contributors to the unprecedented rise in pollution level. 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.

Various international agencies and government bodies are implementing curbs on automotive sector to restrict this. The high level of vehicular pollution is often caused due to inefficient combustion and outdated cooling technologies. This in turn reduces the fuel efficiency of automobiles. Against this backdrop, the deployment of sustainable electric water pump (EWP) can bode well for automotive manufacturers.

What is the Regulatory Impact on Automotive Pump Sales?

A key number of regulations and government policies over the automobile industry are expected to impact the production, installation and usage of automotive pump components. These need for regulations has arisen from the necessity for standardization of equipment, regional segregation of markets and identifying organized sectors across the automotive industry.

For instance, in 2009 the U.S. federal government enacted tax credits aimed at encouraging consumers to purchase plug-in hybrid electric vehicles (PHEVs). Implementation of such favorable regulations is set to create lucrative growth opportunities for the market.

Country-wise Insights

How big is the Opportunity in China?

The automotive industry growth in China has attracted several global automakers since the past few years. The country is now seen as the largest automotive market in the world, with growing inclination towards the automotive pump. The shift from new auto sales to the rapid advancement in the country’s hybrid automotive vehicles provides attractive opportunities in the China market.

A notable contribution to the automotive pump growth comes from impetus provided to hybrid vehicles manufacturing. Recently, Government policy by China's Ministry of Industry and Information Technology allowed automakers to gradually make more petrol-electric hybrids and less of the more costly all-electric vehicles from 2021 through 2023. The government also offers exemption from tax for making hybrid vehicles, intended to increase usage and acceptance of vehicles while reducing pollution emission.

How is the Automotive Pump Market Concentrated in India?

FMI has projected India to remain one of the most lucrative markets throughout the course of the forecast period. One of the key factors supporting growth is the government’s announcement to abolish the Goods and Services Tax (GST) followed by the reintroduction of Sales and Services Tax (SST) which came into effect on 1 September 2018. Therefore, sales of new vehicles boosted.

The considerable population in the country means that vehicle fleet is bound to grow in the next few years hence the automotive pump is optimistic towards growing sales and increasing customer expectations. Also, India is attracting a lot of global car brands.

Attributing to these factors India remains one of the largest markets for automobile players and makes it a lucrative pocket for manufacturers.

What is Supporting Automotive Pump Sales in South Korea?

The automotive industry in Korea has played a very significant role in shaping the country’s economy. Some of the key automotive players in Korea are Hyundai Motors, Kia Motors, General Motors and Renault Samsung. The country’s market value increased 1.2 times in the last 5 years. This increment was due to major influence of government agencies regulating automobiles and automobile parts in Korea.

All automobiles and their parts and components must comply with the Korean Motor Vehicle Safety Standards (KMVSS) underlined by the Motor Vehicle Management Act.  In order to produce or import automobiles in the country, the owner must obtain reduce emission and noise certifications under concerned government bodies, and thus producing vehicles which is environment friendly. Currently, all diesel driven vehicles are subject to the Euro 6 standards in the country. These factors provide fruitful opportunities for automotive pump players.

Why is Germany Considered a Key Automotive Pump Market?

Germany is one of the leading countries, contributing to the automotive sector globally. The country’s economically-essential industry for car manufacturing is gradually emerging from the scathing period of production halt amid lockdown. Thanks to government impetus and measures taken to reduce value added tax on all goods, including cars, automotive pumps manufacturers will see higher demand in response to surging car sales.

The German government also has announced incentives on electric cars, which is expected to create lucrative growth opportunities for the market in the coming years.

Segment-wise Insights

Which Type of Automotive Pump is More in Demand?

The transformation of the mobility sector is likely to influence the automotive pump demand, re-initiating production processes, increase in the demand for fuel-efficient vehicles, and rising installation of electric power steering in passenger cars have been key factors fuelling the demand for automotive pumps. Among various types of fuel pumps available in the market, the demand for windshield washer pumps is expected to be significantly high.

Why is OEM Preferred More Than Aftermarket of Automotive pumps?

Original equipment manufacturers (OEMs) are necessary as without them vehicles cannot become a final product. With an increasing number of automotive OEMs stepping up their investment in research and development, superior fuel pumps design is expected to be round the block.  Aftermarket sale of automotive pump is 1/5th time lesser than that of OEM.

Why Is Electrical Pump Substituting Mechanical Pump in Today’s World?

The automotive market is increasingly demanding higher fuel efficiency, reduced CO2 emissions and improved reliability. The use of electric pumps and integrating or substituting mechanical ones can help in addressing these needs, thanks to reduced friction, hydraulic losses, and power on-demand (i.e. the pump is actuated only when it’s really needed).

Which Vehicle Type Exhibits High Demand for Automotive Pump?

A typical commercial vehicle is subjected to more odd driving conditions than a passenger vehicle hence the role of automotive pump is intended to provide a longer service life to these vehicles to ensure optimum running. Since a lot of fleet operators are experiencing challenges concerning costs and protecting the environment, the automotive pump targets to reduce the emission of CO2 in the environment total cost of ownership of a hybrid vehicle, by providing robust solutions.

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Competitive Landscape

The global automotive pump market is highly competitive, characterized by the presence of global as well as regional players offering cost-competitive products. In order to gain competitive edge, market players have been focusing on product launches and capacity expansion.

For instance,

• In 2019, Concentric AB has been awarded a contract to supply electrically driven and controlled coolant pumps to a global OEM of trucks and buses.
• Delphi added 108 Ford fuel hanger pumps to its fuel systems product portfolio.
• In September, Hella Co. expanded its range of thermal management products and launched water pumps and water pump kits for commercial vehicles.

Some of the leading companies operating in the market are:

• Concentric AB
• Continental AG
• Delphi Automotive LLP
• DENSO Corporation
• HELLA KGaA Hueck & Co.
• Hitachi Automotive Systems, Ltd.
• Johnson Electric Holdings Limited
•   JTEKT Corporation
• KSPG AG
• Magna International Inc.
• Magneti Marelli S.p.A
• Robert Bosch GmbH
• Pricol Ltd.
• SHW Group
•   TI Automotive Ltd
• ZF TRW Automotive Holdings Corp

*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report.

Scope of the Report

Key Questions Answered in the Report

• Which is the most lucrative market for automotive pumps?

  China currently leads the automotive pump market. Sales in China will be account for nearly 38% of total demand through 2031.

• Which vehicle type exhibits high demand for automotive pumps?

  The passenger car segment is expected to dominate the automotive pump market. The rising sales of passenger cars are driving the growth of this segment.

• What is the growth rate of automotive pump market?

  Global automotive pump market is likely to rise at a CAGR of 6.1 % between 2021 and 2031.

• Which are some of the leading companies in the automotive pump market?

  Some of the leading companies in the global automotive pump market are Aisin Seiki, Denso Corporation and Delphi Automotive.

• Which vehicle type is driving sales of automotive pump market?

  The passenger vehicles are driving sales of automotive pump because they are comparatively economical than commercial vehicles and account for larger share of the total vehicle owning population.

Enquiry before Buying

Is this research conducted by Future Market Insights?

Yes, the research has been conducted by expert analysts of Future Market Insights through a combination of primary research and secondary research. To know more about how the research was conducted, you can speak to research analyst

What research methodology is followed by FMI?

FMI follows a methodology that encompasses demand side assessment of the market, and triangulates the same through supply side analysis. This methodology is based on use of standard market structure, methods and definitions. Request detailed methodology

Who are the respondents for primary research?

FMI speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, industry experts. For a full list of primary respondents, please reach out to us.

What are the sources of secondary research?

FMI conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request. 

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Global Automotive Pump Market by Segments

Category

• Pump
  • Fuel Supply Pump
  • Fuel Injection Pump
  • Transmission Oil Pump
  • Conventional Engine Oil Pump
  • Variable Engine Oil Pump
  • Steering Pump
  • Coolant Pump
  •  Windshield Washer Pump
  • Vacuum Pump
• Sales Channel
  • OEM
  • Aftermarket
• Technology
  • Electric
  • Mechanical
• Vehicle Type
  • Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles
  • Two Wheeler

Country

• U.S
• Canada
• Brazil
• Mexico
• Rest of Latin America
• Germany
• Italy
• France
• U.K.
• Spain
• Benelux
• Rest of Western Europe
• Poland
• Russia
• Rest of Eastern Europe
• China
• India
• ASEAN
• Australia and New Zealand
• South Korea
• Rest of APEJ
• South Africa
• Turkey
• Egypt
• Restof MEA
• Japan