AUTOMOTIVE PUMPS MARKET ANALYSIS

1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com AUTOMOTIVE PUMPS MARKET ANALYSIS

2. Market Overview Automotive pumps are 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. Generally, automotive pumps are used in a variety of vehicle parts including steering, transmission, coolant, fuel, and lubrication. Automotive pumps have witnessed significant demand, in order to provide environment-friendly solutions in automobile. On the basis of vehicle type, the automotive pumps market has been segmented into passenger cars, light commercial vehicles and heavy commercial vehicles. On the basis of sales channel, the market has been segmented into original equipment manufacturer (OEM) and aftermarket. The global Automotive Pumps Market was accounted for US$ 51,885.07 Mn in terms of value and 738,923 units in terms of volume in 2019 and is expected to grow at CAGR of 3.8% for the period 2019-2027.

3. Market Dynamics- Drivers Wider scope of use for pumps with development in technology is expected to drive growth of the global automotive pumps market during the forecast period Automobile produced these days are equipped with advanced technology and smart features that fulfill the latest safety, quality, emission, and performance standards. On the contrary, consumers are increasingly becoming price-sensitive and are preferring automobiles with superior comfort features at a reasonable cost. Furthermore, over the last decade, manufacturers in the market have started incorporating numerous advanced technologies such as power steering, gasoline direct injection, gasoline turbochargers, and automatic transmission into automobiles. Such technologies require automotive pump to ensure efficient operation. Hence, these factors are expected to drive growth of the market in the near future. Growing automotive production worldwide is expected to propel the global automotive pumps market growth over the forecast period Automotive pumps have witnessed significant demand in the recent past, due to growing automotive production and vehicle parc. In fact, irrespective of economic conditions across the globe, the global automotive industry has performed satisfactorily. According to Coherent Market Insights’ analysis, automotive production is expected to register a CAGR of 3-3.5% during the forecast period. Moreover, automotive production is expected to be higher in emerging economies as compared to developed countries. This is owing to growing urbanization and stable economic conditions in these countries. Thus, these factors are expected to propel the global automotive pumps market growth over the forecast period.

4. Asia Pacific region dominated the global Automotive Pumps Market in 2019, accounting for 42.3% share in terms of value, followed by Europe, North America, Middle East and Africa and Latin America.

5. Market Dynamics- Restraints Low replacement rate and aftermarket potential are expected to hinder the global automotive pumps market growth during the forecast period Automotive pumps are an integral part of the transmission, driveline and auxiliary systems, which are rarely replaced in automotive. Replacement rate across the globe varies according to the category of pump, ranging between 0.1% and 1% of the vehicle parc. Growing technological advancements is expected to further reduce replacement rate during the forecast period. Therefore, very low potential offered by aftermarket and low replacement rate is expected to hinder the global automotive pumps market growth in the near future. Availability of better substitutes in terms of electric motors for pumps are expected to hamper the global automotive pumps market growth over the forecast period Automotive pumps are actuated using electrical or mechanical energy and are accordingly classified as electric or mechanical pumps. Certain functionalities offered by steering or brake booster pumps can also be achieved by using electric motors. This, in turn, is expected to hamper the market growth over the forecast period.

6. Market Opportunities Providing custom-made pumps can present lucrative growth opportunities Majority of automotive pump manufacturers laying emphasis on product differentiation, in order to maintain competitive advantage in the market. Automakers are introducing major changes in automotive and associated product designs, in order to cater to ever-changing consumer demands. Moreover, these manufactures are providing customized and requirement-specific products such as low vibration, brushless fuel pumps, and compact pumps for automakers. Offering such products is a potential opportunity to secure long-term supply contracts from automakers. Enhancing product line to offer a complete solution can provide major business opportunities Pump manufacturers can offer a pump as solution rather than a product to automakers in order to sustain market share. Monitoring systems, controlling solutions and other auxiliaries can be integrated along with pumps

7. Market Trends Growing product launches, in order, expand the product portfolio Key players in the market are focused on product launches, in order to expand product portfolio and gain market share. For instance, in 2015, Behr Hella Service added around 100 commercial vehicle water pumps for common vehicles makes to its portfolio. Moreover, in 2014, Hella extended its portfolio by introducing new product groups of thermostats, differential pressure sensors, vacuum pumps, and accelerator pedals. Introduction of high quality automotive pumps to enhance vehicle efficiency Introducing novel products with innovative technology are an essential part of automotive industry. Moreover, auto manufacturers are developing and experimenting with innovative technologies that will help enhance vehicle performance, adjunct functioning, fuel injection, braking, aesthetics, and transmission. Hence, the demand for customized automotive products is increasing significantly. Moreover, many OEMs in the market are focused on launching innovative products, in order to enhance their market presence. For instance, in 2011, Delphi introduced Premium GDi High Pressure Fuel Pump to its gasoline direct injection products.

8. In global Automotive Pumps Market, by technology, Electric sub-segment dominated the global market in 2019, accounting for 76.2% share in terms of value, followed by Mechanical. Segment information

9. Competitive Section Key players operating in the global automotive pumps market are JTEKT Corporation, ZF TRW Automotive Holdings Corp., Aisin Seiki Co. Ltd., WABCO Holdings, Inc., Concentric AB, TI Automotive Ltd., Continental AG, SHW AG, Delphi Automotive LLP, Pricol Ltd., DENSO Corporation, Robert Bosch GmbH, HELLA KGaAHueck & Co., MagnetiMarelliS.p.A, Hitachi Automotive Systems, Ltd., Magna International Inc., Johnson Electric Holdings Limited, and KSPG AG.

10. Key Developments Key players in the market are focused on product launches, in order to expand product portfolio. For instance, in January 2019, JTEKT Corporation introduced its latest mobility technologies including automotive pumps at North American International Auto Show (NAIAS). Major market players are involved in contracts and agreements, in order to gain a competitive edge in the market. For instance, in April 2018, Concentric AB entered into a contract with ZF Friedrichshafen AG for electric oil pump technology.

11. Request Sample Report : https://www.coherentmarketinsights.com/insight/request-sample/3699 Request Customization: https://www.coherentmarketinsights.com/insight/request-customization/3699 Download PDF Brochure: https://www.coherentmarketinsights.com/insight/request-pdf/3699 Talk to Analyst: https://www.coherentmarketinsights.com/insight/talk-to-analyst/3699 Reference: https://www.coherentmarketinsights.com/market-insight/automotive-pumps-market-3699

12. About Us Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. What we provide: Customized Market Research Services Industry Analysis Services Business Consulting Services Market Intelligence Services Long term Engagement Model Country Specific Analysis

13. Contact Us Mr. Shah Coherent Market Insights Pvt.Ltd. Address: 1001 4th Ave, #3200 Seattle, WA 98154, U.S. Phone: +1-206-701-6702 Email: sales@coherentmarketinsights.com

14. Thank You ! Kindly follow CMI Social Media Profiles for the latest company updates Facebook Linkedin Twitter https://www.coherentmarketinsights.com/