Passenger Cars Pumps Market to Grow with a CAGR of 5.95% Globally through to 2028
Electrification of Vehicles and the Rise
of Electric Powertrains, Advancements in Engine Efficiency and Downsizing,
Increasing Adoption of Advanced Driver Assistance Systems (ADAS) and Autonomous
Driving are factors driving the Global Passenger Cars Intercooler market in the
forecast period 2024-2028.
According to TechSci Research report, “Global Passenger
Cars Pumps Market - Industry Size, Share, Trends, Competition Forecast
& Opportunities, 2028”, the Global Passenger Cars Pumps Market stood at
USD 6 billion in 2022 and is anticipated to grow with a CAGR of 5.95% in the
forecast period, 2024-2028. The
Global Passenger Cars Pump Market is a dynamic and vital component of the
automotive industry, providing essential systems for the efficient and reliable
operation of passenger vehicles. Pumps in passenger cars serve diverse
functions, including managing engine temperature, lubrication, power steering,
and braking systems. This market is profoundly influenced by various factors,
such as the growing emphasis on electrification and electric powertrains, the
need to meet stringent emissions regulations, the relentless pursuit of
enhanced fuel efficiency, and the integration of advanced driver assistance
systems (ADAS) and autonomous driving technologies. The shift towards
electrification and the rise of electric vehicles have driven significant
demand for electric pumps, particularly electric coolant pumps and electric
power steering (EPS) pumps, as automakers seek more sustainable and efficient
mobility solutions. Stringent emissions regulations worldwide have compelled
manufacturers to develop advanced pump technologies that contribute to reduced
emissions and improved fuel efficiency, pushing the boundaries of pump
innovation. Additionally, cost pressures, rapid technological advancements, and
variability in regional regulations and consumer preferences pose ongoing
challenges to pump manufacturers, requiring them to adapt, innovate, and
collaborate to meet the evolving needs of the global automotive industry. The
Global Passenger Cars Pump Market plays a vital role in supporting the
development of cleaner, safer, and more efficient passenger vehicles that align
with the demands of modern mobility and environmental sustainability.
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spread through 180 Pages and an in-depth TOC on "Passenger Cars Pumps Market.”
The Global Passenger Cars Pump Market is a critical
and dynamic segment of the automotive industry, providing essential components
that enable the efficient and reliable operation of passenger vehicles
worldwide. Pumps in passenger cars serve a variety of crucial functions,
ranging from managing engine temperature and lubrication to powering steering
and assisting in braking systems. This market is profoundly influenced by
several key factors, including the ongoing shift towards electrification and
electric powertrains, the imperative to meet stringent emissions regulations,
the relentless pursuit of enhanced fuel efficiency, and the integration of
advanced driver assistance systems (ADAS) and autonomous driving technologies. The
global automotive industry has been undergoing a significant transformation
with the increasing adoption of electrified powertrains, including electric
vehicles (EVs) and hybrid electric vehicles (HEVs). This shift towards
electrification has profound implications for the Passenger Cars Pump Market.
Electric vehicles, in particular, have seen substantial growth due to concerns
about climate change and air quality, coupled with advancements in battery
technology. As a result, the demand for electric pumps, such as electric
coolant pumps and electric power steering (EPS) pumps, has surged. These
electric pumps are integral to maintaining the efficiency and performance of
EVs and HEVs.
In electric vehicles, electric coolant pumps are
essential for managing the temperature of the electric motor and battery pack.
These pumps ensure that these critical components operate within their optimal
temperature range, enhancing performance and longevity. Without efficient
cooling, electric vehicles may suffer from reduced power output, slower
charging times, and even potential damage to the battery cells. Electric power
steering (EPS) systems have become the standard in many modern vehicles,
including electric and hybrid cars. These systems replace traditional hydraulic
power steering with electric power assistance. Electric power steering pumps
play a crucial role in these systems, providing the necessary hydraulic
pressure for responsive and efficient steering control. EPS systems offer
advantages such as fuel efficiency, reduced maintenance, and improved driver
assistance features.
Pumps play a crucial role in enhancing fuel efficiency
by optimizing engine management, cooling, and lubrication. For example,
electric water pumps enable precise control of engine temperature, reducing
warm-up time and optimizing combustion efficiency. Electric oil pumps provide
lubrication to critical engine components, even when the engine is temporarily
off, improving overall efficiency and durability. Achieving fuel efficiency
targets often involves engine downsizing and turbocharging, which places greater
demands on pumps to manage increased thermal loads and pressures. This requires
the development of high-performance pumps that can withstand elevated
temperatures and pressures while maintaining reliability.
Moreover, as emissions standards become more
stringent, automakers are exploring hybridization and electrification options
to reduce their reliance on internal combustion engines. This transition
requires the integration of electric pumps and the development of sophisticated
thermal management systems to ensure the efficiency and longevity of electric
powertrains. While meeting emissions standards and enhancing fuel efficiency
are critical objectives, cost pressures and intense price competition are
persistent challenges in the Passenger Cars Pump Market. Automakers are under
constant pressure to reduce production costs to maintain competitiveness and
accommodate consumer demand for affordable vehicles. To achieve
cost-effectiveness, automakers often negotiate lower prices with component
suppliers, including pump manufacturers.
Furthermore, price competition within the market can
lead to a race to the bottom, where manufacturers are forced to lower prices to
secure contracts with automakers. This intense competition can affect the
quality and durability of pump components, potentially compromising the
performance and reliability of vehicles. Striking the right balance between
cost competitiveness and product quality is a constant challenge for
manufacturers. Additionally, the rapid pace of technological advancements in
the automotive industry poses a challenge for the Passenger Cars Pump Market.
New technologies, such as electric powertrains, advanced driver assistance
systems (ADAS), and autonomous driving, are continually emerging, and pump
manufacturers must adapt quickly to remain relevant and competitive.
Major companies operating in Global Passenger
Cars Pumps Market are:
- Aisin Seiki Co. Ltd
- WABCO Holdings, Inc
- Continental AG
- Delphi Automotive LLP
- DENSO Corporation
- Robert Bosch GmbH
- HELLA KGaA Hueck & Co
- Magna International Inc.
- Johnson Electric Holdings Limited
- Valeo SA
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“The Global
Passenger Cars Pump Market is undergoing a transformative journey shaped by the
rising tide of electrification, stringent emissions regulations, and the
pursuit of greater fuel efficiency. As electric vehicles gain momentum, the
demand for electric pumps, including coolant and power steering pumps,
continues to surge, underlining the market's pivotal role in supporting
sustainable mobility. Meeting rigorous emissions standards necessitates
advanced pump technologies that enhance engine efficiency and reduce carbon
footprints. However, cost pressures and price competition challenge manufacturers
to strike a balance between affordability and innovation. Rapid technological
advancements further propel the industry forward, requiring agile adaptation to
evolving automotive technologies. Despite these challenges, the Passenger Cars
Pump Market remains a vital contributor to cleaner, more efficient, and
environmentally responsible passenger vehicles worldwide.,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based management
consulting firm.
“Passenger
Cars Pumps Market – Global Industry Size, Share, Trends, Opportunity, and
Forecast, Segmented By Pump Type (Transmission Pump, Fuel pump, Oil Pump,
steering Pump, Water Pump, Vacuum Pump), By Technology Type (Mechanical,
Electrical), By Sales Channel (OEM, Aftermarket), By Region, By Competition,
2018-2028”, has evaluated the future growth potential of Global Passenger
Cars Pumps Market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Passenger Cars Pumps
Market.
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Techsci Research LLC
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