Automotive Pump

Market OpportunityThe global automotive pump market is expected to experience healthy growth over the forecast period. Owing to the increased demand for improved fuel efficiency, electric vehicle penetration and stringent emission norms imposed on vehicles, advanced pumps are increasingly preferred over traditional counterparts. The global market for automotive pumps is expected to reach a value of US$ 68.7 billion by 2025, expanding at a CAGR of 5.3% from 2020 to 2025.Increases in vehicle production, particularly passenger cars, commercial vehicles and construction equipment, has driven the demand for automotive pumps. The need for advanced pumps with improved technologies to enhance the performance of vehicles, such as oil-less pumps, drive the growth of the automotive pump market. In addition, the use of pumps for fuel and brake systems have seen significant investments from OEMs. Furthermore, the utilization of hydraulic and vacuum pumps to improve the overall efficiency of a vehicle has also increased, thus boosting the market’s growth.In terms of region, Europe holds the largest market share, followed by North America and Asia-Pacific. The stringent emission norms imposed by the European Union is a major factor driving the growth in European markets. The increasing demand for fuel injection pumps to boost fuel efficiency and reduce emissions is expected to further spur demand in Europe. In Asia, the high growth rates of both electric and light commercial vehicle are expected to augment the demand for automotive pumps, thus driving regional market growth.The automotive pump market has immense growth potential over the forecast period, with the growing demand from automakers, OEMs and aftermarket sales. Companies are extensively working in improving technologies and pump components. This includes natural gas as fuel for vehicles and applying driveline designs for electric and hybrid vehicles, which is expected to offer high growth opportunities for automotive pump suppliers.