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Automotive Pumps Market Trends

Report ID: GMI6001
Published Date: Jul 2024
Report Format: PDF

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Automotive Pumps Market Trends

The automotive pumps industry is witnessing several key trends, driven by technological advancements and changing vehicle structures. One significant trend is the increasing usage of electrified pumps, moving away from traditional mechanical pumps. According to the European Association of Automotive Suppliers (CLEPA), the market for electric pumps in automotive applications is expected to grow at a CAGR of 6.8% between 2021 and 2026. This shift is partly due to the rising adoption of start-stop systems and hybrid powertrains, which require pumps that can operate independently of engine speed.

Furthermore, the development of smart, variable-flow pumps that can adjust their output based on real-time demand, improving overall vehicle efficiency. The Japan Auto Parts Industries Association reports that variable oil pumps can reduce fuel consumption by up to 3% compared to conventional fixed-displacement pumps.

Additionally, there's a growing focus on lightweight pump designs to support vehicle weight reduction efforts. The Automotive Component Manufacturers Association of India (ACMA) reports that the use of advanced materials like reinforced plastics and aluminium alloys in pump manufacturing has increased by 15% over the past three years, thereby suitable for weight reduction and improved fuel efficiency hence propelling the market growth.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of automotive pumps reached USD 15.1 billion in 2023 and is set to witness 4.8% CAGR between 2024 and 2032, attributed to the increasing vehicle production, and shift towards electric vehicles.

The steering automotive pumps industry accounted for USD 3.9 billion in 2023 and is expected to grow at 5.3% CAGR during 2024 to 2032, owing to the increasing popularity of large SUVs and commercial vehicles.

Asia Pacific market generated USD 5.9 billion in 2023 and is expected to reach USD 9.2 billion by 2032, attributed to the growing economies of China, India, and Southeast Asian nations.

Aisin Seiki Co., Ltd., BorgWarner Inc., Continental AG, Delphi Technologies, Denso Corporation, HELLA GmbH & Co. KGaA, Hitachi Automotive Systems, Ltd., Johnson Electric Holdings Limited, and Magna International Inc. among others.