Global sales of automotive pumps surpassed 780,000 units in 2018 and the market is estimated to grow at a volume CAGR of 5.3% during the forecast period of 2017-2026.



[USPRwire, Fri Jul 26 2019] According to Fact.MR’s new business intelligence report, the global automotive pumps market is anticipated to register a promising growth during the period 2017-2026, with market revenues likely to surpass US$ 54 billion by 2019-end. Growing consumer preference for green technology, along with the need to adhere to stringent carbon and VOC emission regulations, are encouraging automotive manufacturers to focus on enhancing energy performance of vehicles. With their crucial role in maintenance of energy efficiency, the automotive pumps are likely to gain center stage in the near future.

Automotive Pumps Market: Key Insights

The automotive pumps market grew at over 4% CAGR during 2012-2016 on the back of booming automotive industry and technological developments.

Global sales of automotive pumps surpassed 780,000 units in 2018 and the market is estimated to grow at a volume CAGR of 5.3% during the forecast period of 2017-2026.

Asia Pacific Excluding Japan (APEJ) will remain the largest market for automotive pumps 2017-2026 period. An exponential increase in demand for automobiles, along with introduction of premium features in mid-sized cars remains a key factor influencing the growth of automotive pumps market in the region.

APEJ is also anticipated to emerge as the most attractive market of automotive pumps, expanding at a promising CAGR of 5.7% over the forecast period.

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The development of the automotive industry is significantly influenced by evolving emission standards as well as rising sales of automobiles across world regions. Consumers are seeking high-performance vehicles that are light-weight and fuel efficient. The crucial role of automotive pumps in enhancing the engine efficiency has increased the investments in R&D to develop advanced automotive pumps. Manufacturers are focusing on introducing affordable and low-friction pumps that deliver higher efficiency suitable for high-performance engines. Further, to complement the technology of next-gen vehicles manufacturers are actively engaged in new product developments. Design developments with regard to lightweight, rapid response, and affordability are trending in the automotive pumps market.

As an essential component of the automobile engine system, fuel supply pump is highly sought after by automakers as compared to other types of fuel pumps. Among different types of automotive pumps, fuel supply pumps continue to maintain their market position with consistently evolving effective fuel supply technology. That said, the fuel supply segment is expected to continue its dominance with a significant market valuation exceeding sales over US$ 30,700 Mn by 2026 end. On the other hand, fuel injection pumps are emerging rapidly with the steadily rising demand for diesel-powered cars and commercial vehicles. Higher fuel efficiency is the prime fillip driving the sales of diesel-powered automobiles, thereby propelling the demand for fuel injection automotive pumps in the automotive pumps market.

The automotive industry is rapidly witnessing transformations owing to stringent emission standards, demand for fuel-efficiency, and preference for sustainable automotive technologies. As electric vehicles run by electric power and are independent of internal combustion engines, demand for fuel automotive pumps is likely to witness challenges of adoption in future. Further, automotive pumps are likely to face issues of incompatibility with the advanced technologies of electric vehicles. As vehicle electrification is encouraged against the backdrop of growing environmental concerns, rising fuel prices, and increasing costs of the internal combustion engine and their maintenance, the automotive pumps market is expected to face limited adoption by automakers during the forecast and beyond.

The report published by Fact.MR titled “Automotive Pumps Market Forecast, Trend Analysis & Competition Tracking - Global Review 2017 to 2026” delivers the most credible market performance. The thorough analysis of historical data, current market scenario and future projections included in the report provides vital insights pertaining to the futuristic growth trajectory of the automotive pumps market.

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