Automotive pumps are utilized for transferring automotive fluids in the vehicles. These pumps are mainly used for improving vehicle performance and fuel efficiency. The increase in demand for environment-friendly solutions has pushed several manufacturers to design and develop advanced pumps. The pumps are used in various vehicle systems such as coolant, steering, fuel, transmission, and lubrication.
MARKET SCOPE
The "Global Automotive Pumps Market Analysis to 2028" is a specialized and in-depth study of the Automotive Pumps market with a special focus on the global market trend analysis. The report aims to provide an overview of Automotive Pumps market with detailed market segmentation pump type, technology, vehicle type, and geography. The global Automotive Pumps market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Automotive Pumps market players and offers key trends and opportunities in the Automotive Pumps market.
MARKET SEGMENTATION
- Based on pump type, the market is segmented as fuel supply pump, fuel injection pump, transmission oil pump, engine oil pump, steering pump, coolant pump, windshield washer pump, and vacuum pump.
- Based on technology, the automotive pump market is divided into electric pump and mechanical pump.
- On the basis of vehicle type, automotive pump market is segmented as passenger cars, LCV, and HCV.
MARKET DYNAMICS
Drivers:
- rising implementation of environmental regulations
- increasing vehicle production
- increasing vehicle electrification.
Restraint -
- Government regulation norms
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Automotive Pumps market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Automotive Pumps market in these regions.
IMPACT OF COVID-19 ON AUTOMOTIVE PUMPS MARKET
COVID-19 severely impacted the automobile industry by the end of 2020 as there were several travel bans and other lockdown related restrictions imposed across the globe. The impact of the pandemic extends to all segments of the automotive and transportation industry, including Automotive Pumps manufacturers. As a result of travel restrictions and economic slowdown due to the pandemic and the consequent fall in demand, automotive manufacturers have been focusing on reducing costs and expenses, which includes cutting back on production spending. Due to long duration of halts in the supply chain of major automotive production, the Automotive Pumps suppliers have been facing a reduction in demand. However, as the lockdown measures start getting lifted, the demand for passenger cars with improved safety features is expected to rise. Since Automotive Pumps are one of the vital components of automobile vehicles, the market of Automotive Pumps is expected to regain momentum.
MARKET PLAYERS
The reports cover key developments in the Automotive Pumps market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from Automotive Pumps market are anticipated to lucrative growth opportunities in the future with the rising demand for Automotive Pumps market. Below mentioned is the list of few companies engaged in the Automotive Pumps market.
The report also includes the profiles of key Automotive Pumps market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- Aisin Seiki Co., Ltd.
- Concentric AB
- Continental AG
- DENSO Corporation
- Hitachi Automotive Systems, Ltd.
- Johnson Electric
- JTEKT Corporation
- Magna International Inc.
- Robert Bosch GmbH
- ZF Friedrichshafen AG