Automotive Pump Market Report Scope & Overview:

Automotive Pump Market was valued at USD 15.5 Billion in 2023 and is expected to reach USD 23.9 Billion by 2032, growing at a CAGR of 4.92% from 2024-2032.

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The automotive pump market has observed remarkable growth due to a surge in demand for fuel-efficient, environmentally friendly, and high-performance vehicles. Automotive pumps are an integral part of the automotive powertrain and other automotive systems that transport fluids such as fuel, oil, coolant, and transmission fluid to different engines and other mechanical systems. Overall production of vehicles has increased rapidly over the years, especially with the introduction of new engine technologies contributing to the demand for automotive pumps, as well as the strong expansion of the electric and hybrid vehicles market. Increase in Fuel Efficiency and Decrease in Carbon Emission is Elementary to Boost the Market. Faced with increasingly stringent fuel efficiency regulations and carbon emission standards, automakers are adding pumps, to extract higher power out of those motors while consuming less energy. We've seen this trend most recently in Europe and North America, where environmental regulations are tightening up. Specialized pumps, like the cooling pumps used in electric vehicles (EVs) and hybrid vehicles, have also seen increased demand with the growing popularity of EVs. Such vehicles need particular pumps to circulate coolant, keeping the thermal stability of both the battery and motor systems.

Technological enhancements in automotive pumps also have a significant impact on the overall growth of the global automotive pump market. This drives the manufacturers to manufacture high-performance pumps with enhanced durability, accuracy, and efficiency. For instance, modern engines are adopting advanced fuel pumps to ensure proper fuel delivery and pressure control, which will eventually lead to better fuel combustion and lesser emissions. Moreover, the increasing adoption of electric and hybrid cars is responsible for the introduction of electric pumps to cater to the particular demands of these vehicles like cooling pumps or pumps for circulating fluids in battery management systems

One of the key drivers of the automotive pump market is the growth of developing markets. The fast-paced urbanization and rising vehicle ownership in Asian countries of the Asia-Pacific area, particularly China and India, are increasing the capacity for numerous automotive components that are utilized in the manufacturing of the pump. As of 2023, China was one of the largest automotive markets in the world with an output of well above 25 million vehicles a year according to the International Organization of Motor Vehicle Manufacturers (OICA). This growing trend of vehicles in these regions features great potential for the growth of the automotive pump market.

Market Dynamics:

Drivers

• Increasing environmental regulations are driving the demand for efficient pumps to reduce vehicle emissions and improve fuel economy.

• The rise of electric and hybrid vehicles requires specialized pumps for battery cooling and thermal management systems.

• Global increases in vehicle production, particularly in emerging markets, are fueling the demand for automotive pumps.

One of the key reasons driving the automotive pump market is the increase in the production of vehicles worldwide particularly in emerging markets. Countries such as China, India, and Brazil are quickly developing and urbanizing, which is drastically increasing their need for cars. As reported by the International Organization of Motor Vehicle Manufacturers (OICA), China accounted for nearly 25 million vehicles produced by mid-2023, helping it maintain its status as one of the key vehicle markets in the world. The increase in vehicles produced directly translates into demand for different automotive components, and a major one among these components is pumps.

Automotive pumps are used in a wide range of vehicle applications including fuel pumps, cooling pumps, transmission pumps, and more. With rising vehicle production, the need for these pumps also grows. This demand is further fueled by the growing automotive aftermarket sector, which provides pumps for maintenance and replacement, in addition to new vehicle production. Growing vehicle ownership in emerging economies would subsequently lead to a rise in demand for pumps not only in newly produced vehicles but also in vehicles in retrofits market, thereby augmenting the growth of the pumps market. Additionally, the automotive industry in these areas is implementing more sophisticated engine technologies that utilize tailored pumps. In response to the shift toward hybrid and electric powertrains, not only do many vehicles need even more fuel-efficient designs, but there is also a growing requirement to pump fluid through battery cooling systems and near-optimal range-extending engines. This is especially pronounced in China and India, where automotive markets are transitioning to energy-efficient new vehicles.

Moreover, growth in these economies will continue to be supported by government initiatives driving infrastructure expenditure including expansion of highway networks and urbanization policies, adding to the need for vehicles. As a result, automotive pump makers are focusing on these areas to meet the rising demand for automotive parts, and there is a great deal of scope for market growth. Detailed analysis of the automotive pump manufacturers, supply chain, and production capacity, and the technical details of each unit manufactured will help to identify this unexplored market.

Restraints

• The complexity of advanced automotive pumps and their integration into modern vehicle systems increases manufacturing costs.

• Rapid advancements in automotive technologies may render existing pump designs outdated, requiring continuous innovation and investment.

• The growing interest in integrated cooling systems or air-conditioning technologies may reduce the demand for some types of automotive pumps.

This increasing focus on integrated cooling systems and advanced air-conditioning technologies represents a threat to some segments of automotive pumps in the market. With the automotive market moving towards more complex vehicle systems, integrated cooling solutions or combining different functionalities into one housing, is getting more and more traction. This integration typically leads to the consolidation of fluid circuits and cooling applications, thus minimizing the number of individual pumps required. One driver is the use of centralized cooling systems for electric and hybrid vehicles that share a cooling circuit between the battery and motor; to mitigate the need for independent pumps for each function. Similarly, the emergence of technologies in air-conditioning systems like compact energy-efficient HVAC systems may curb the demand for some automotive pumps. Conventional air-conditioning systems in vehicles use individual pumps for moving the refrigerant, and then each pump for moving the coolant, but these systems are changing toward designs with fewer parts that perform multipurpose functions, derivative of which is a lower need for pumps. Over time, these technologies could reduce the need for traditional automotive pumps, especially those used for cooling, HVAC, and fuel systems.

This movement towards integrated systems and more advanced technological solutions is part of a larger trend to simplify systems on the vehicle level, improve fuel economy, and reduce emissions. As automakers combine functions into fewer parts, they can both improve performance and energy efficiency and also help reduce weight. This makes the automotive pump manufacturers align themselves towards the development of new generation pumps which can further be incorporated into these integrated systems. This is a good new addition to the cars, but not without restriction for the manufacturers of traditional automotive pumps in the market, as the need for some pumps will reduce in vehicles, which will have centralized systems. To stay competitive in the new market reality, automotive pump companies should develop niche pumps for electric vehicles and next-generation hybrid systems.

Segment Analysis:

By Technology

The mechanical pumps dominated the market and represented a significant revenue share of 68.52% in 2023. These pumps are part of many systems within the vehicle, such as those for fuel, oil, and coolant. They have been the preferred choice for traditional vehicles due to their operational performance, cost efficiency, and reliability. Although electric vehicles (EV) and hybrid vehicles are gaining traction, consumption of mechanical pumps is likely to remain stagnant for conventional vehicles and has estimated slow growth over the coming years. Growth in the segment will still be powered by vehicle manufacturing in developing regions, where mechanical pumps continue to be widely used, often simply due to cost. Demand for mechanical pumps in these markets is expected to remain stable in the next few years, according to forecasts.

The electric pump segment is expected to exhibit the highest CAGR during the forecast period. Electric pumps are critical in these vehicles, keeping systems alive that serve functions essential to the vehicle, including battery cooling, thermal management, and HVAC. The worldwide movement against pollution and ushering in energy-efficient cars is making electric pumps stand out due to their efficiency, accuracy, and incorporation into advanced automotive solutions. Though demand for electric pumps is being driven by different end-user segments, the growth of the electric vehicle market is spearheading the demand pushing the automobile industry into ushering electric mobility with reduced dependence on fossil fuels due to government-led incentives, stricter emission norms and voluntary transition of car manufacturers to the electric mobility segment. The segment is forecast to grow rapidly, particularly in established electric vehicle markets in Europe, North America, and Asia-Pacific. As EVs and HEVs penetrate broader markets, this segment has a forecasted growth exhibiting both exponential characteristics as well as linear growth.

By Type

The fuel injection pump segment dominated the market and represented a significant revenue share of 43.0% in 2023, owing to their vital role in internal combustion engine (ICE) vehicles. Fuel injection pumps control the amount of fuel that reaches the engine, allowing for proper combustion and efficiency. The demand for high-performance fuel injection systems is still on the upswing, as everyone tightens fuel economy and emissions regulations under the gun; but the global net gain in real-world economy is little more than a shell game. Despite the increasing adoption of electric vehicles (EVs), the demand for fuel injection pumps will continue to experience steady growth in the upcoming years due to the vast share of conventional vehicles present in the global vehicle stock. The fuel injection pump segment will continue its steady growth trend, as compelling production in areas with substantial ICE vehicle sales will continue such as North America, Europe, and Asia.

The fuel pump segment is anticipated to generate the highest CAGR during the forecast period. Fuel pumps are essential for moving the fuel from the tank to the engine — a need that still exists for ICE vehicles. Also, with the increasing number of electric vehicles (EVs) and hybrid electric vehicles (HEVs), all of which demand fuel pumps to equip their fuel-efficient engines or dual powertrains, the automotive fuel pumps market in EV & HEV has witnessed the need for these fuel pumps. Fuel injectors and their technologies like High-pressure fuel pumps are among the recent developments in the fuel system space and are supporting the growth of the segment. The fuel pump segment is set to grow tremendously as the global vehicle fleet expands, especially in developing countries such as China and India.

Regional Analysis:

The automotive pump market is dominated by Asia-Pacific and represented a significant revenue share of 42.2% in 2023, owing to the massive automotive production and demand for vehicles in the regions, especially China, India, and Japan. All of those countries are manufacturing hotbeds that play a huge role in the overall auto space. Growing disposable incomes, urbanization, and vehicle ownership in this region have also driven up demand for automotive pumps. In addition, the growing utilization of electric and hybrid vehicles, together with developments in engine technologies has increased the demand for specialized pumps in this region. The Asia-Pacific automotive pump market is likely to grow further owing to growing automotive manufacturing capability and implementation of environmental regulations in various countries of this region.

North America to be the fastest-growing automotive pump market during the forecast period. The region continues to see a gradual but consistent rise in automotive production owing to favorable governmental policies, increasing investments in the automotive industry as well as increasing consumer demand for automobiles. The demand is also fueled by the growing middle-class population and the transition of traditional vehicles to electric and hybrid vehicles on which advanced automotive components such as pumps are required.

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Key Players:

The major key player along with their products are

• Bosch – Fuel Injection Pumps

• Denso Corporation – Electric Fuel Pumps

• Continental AG – Oil Pumps

• Aisin Seiki Co., Ltd. – Water Pumps

• Magna International – Electric Water Pumps

• Valeo – Fuel Pumps

• Caterpillar Inc. – Hydraulic Pumps

• Johnson Electric – Vacuum Pumps

• Schaeffler Group – Oil Pumps

• Hitachi Automotive Systems – Water Pumps

• ZF Friedrichshafen AG – Fuel Injection Pumps

• BorgWarner Inc. – Fuel Pumps

• Xylem Inc. – Water Pumps

• Tata AutoComp Systems – Oil Pumps

• Kirloskar Brothers Limited – Fuel Pumps

• Parker Hannifin – Fuel Injection Pumps

• Mitsubishi Heavy Industries – Water Pumps

• TRW Automotive – Hydraulic Pumps

• SKF – Oil Pumps

• Mahle GmbH – Water Pumps

Denoising Corporation-Company Financial Analysis

Recent Developments:

March 2024: Delphi Technologies introduced a new range of fuel pumps specifically designed for hybrid and electric vehicles, providing higher performance while supporting reduced emissions.

February 2024: Bosch unveiled a next-generation electric pump for high-performance vehicles. This pump is optimized for both internal combustion engines and electric vehicles, focusing on energy efficiency and lower emissions.