Automotive Electrical Pump Market to be dominated by Passenger Car segment through 2026
The rise in the sales of commercial vehicles and demand for
fuel-efficient vehicles are driving the growth in Global Automotive Electrical
Pump Market in the forecast period, 2022-2026.
According
to TechSci Research report, “Automotive Electrical Pump Market - Global Industry Size,
Share, Trends, Opportunity and Forecast, 2016-2026, Segmented By Type (Fuel
Pump, Steering Pump, Water Pump, Vacuum Pump, Others), By Vehicle Type
(Passenger Car, LCV, M&HCV), By Demand Category (OEM vs Replacement), and
By Region”,
the global Automotive Electrical
Pump market is anticipated to grow at a rate of significant CAGR for the
forecast period, 2022-2026. An electric fuel pump is used to pump fuel from the
gas tank to the injectors. The electric fuel pump is generally placed inside
the fuel tank, but sometimes if the need arises can be placed outside the fuel
tank. It includes a float that sends the electrical signal to the fuel gauge
situated on the instrument panel.
However, the growing sales of electric vehicles
owing to the regulatory emission standards may restrain the global Automotive Electrical
Pump market growth for the forecast period.
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The global Automotive Electrical Pump
market is segmented on the basis of type, vehicle type, demand category,
regional distribution, and company.
On the basis of type, the Global
Automotive Electrical Pump market is divided into the fuel pump, steering pump,
water pump, vacuum pump, and others. The fuel pump segment is expected to
dominate the market for the forecast period, 2022-2026. The existence of an
efficient delivery system to deliver the fuel from the fuel tank and the engine
is essential to ensure the proper functioning of the automobile. Market players
are investing huge amounts for research and development activities to increase
fuel efficiency and performance and decrease the size of the fuel tank to boost
vehicle performance.
On the basis of vehicle type, the Global
Automotive Electrical Pump market is divided into passenger car, LCV, and
M&HCV. The passenger car segment is expected to hold the largest market
share in the next five years. The growing shift towards vehicle ownership and
the surge in the purchasing capacity of the consumers is driving the demand for
passenger cars around the globe. The rise in the demand for passenger cars in
developing countries and the availability of easy financing assistance to
increase the affordability of consumers to buy cars is expected to accelerate
the demand for passenger cars.
On the basis of demand category, the
Global Automotive Electrical Pump market is bifurcated into OEM and
replacement. The OEM segment is expected to account for major market share for
the forecast period. The large-scale manufacturing of automobiles is fueling
the installation of Electrical Pumps in automobiles. The pre-installed Electrical
Pumps have superior quality and offer warranty and after-sales services, which
is expected to boost the global Automotive Electrical Pump market demand. OEM continuously invests in technological
advancement to develop superior fuel pump design and the electronic devices
used in the automobile. The availability of many choices in passenger and
commercial vehicles with improved aesthetic appearance and range of the vehicle
is expected to fuel the global Automotive Electrical Pump market demand.
On the basis of regional analysis, the
Asia-pacific region is expected to dominate the global Automotive Electrical
Pump market for the forecast period. The presence of a large number of
automobile part manufacturers and the high demand for various automobiles in
developing countries like China, India, South Korea, Japan are the major
contributing factors for the high demand for the global Automotive Electrical
Pump market in the region. The rise in the sales of passenger cars and
commercial vehicles in the region due to the improving economic conditions and
the high demand for fuel-efficient vehicles is expected to boost the demand for
the global Automotive Electrical Pump market during the forecast period.
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“The growing adoption of the plug-in
hybrid electric vehicle around the globe to control carbon emissions into the
environment is expected to fuel the demand for the Automotive Electric Pump as
it uses both electricity and internal combustion engine-powered generators. The
manufacturing of passenger cars using plug-in hybrid electric vehicle
technology is expected to witness a hike as they are highly efficient and less
harmful to the environment. The increase in the manufacturing of commercial
vehicles such as buses, motorcycles, buses, utility trucks due to the surge in
trade activities and demand for efficient supply chain is expected to propel
the global Automotive Electrical Pump market till 2026” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based Global management
consulting firm.
“Automotive Electrical
Pump Market - Global Industry Size, Share, Trends, Opportunity and Forecast,
2016-2026, Segmented By Type (Fuel
Pump, Steering Pump, Water Pump, Vacuum Pump, Others), By Vehicle Type
(Passenger Car, LCV, M&HCV), By Demand Category (OEM vs Replacement), and
By Region”, has evaluated the future
growth potential of Global Automotive Electrical Pump 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 Automotive Electrical Pump market.
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