Automotive Pumps Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Product (Fuel Pump, Oil Pump, Steering Pump, Water Pump, Fuel Injection Pump, and Others), By Technology (Mechanical, and Electrical), By Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, and Two Wheelers), By Region & Competition, 2019-2029F

Market Overview

The Global Automotive Pumps Market size reached USD 13.63 Billion in 2023 and is expected to grow with a CAGR of 8.40% through 2029. The global automotive pumps market has experienced significant growth in recent years, driven by various factors such as increasing vehicle production, technological advancements, and the growing demand for fuel-efficient vehicles. Automotive pumps play a crucial role in various vehicle systems, including fuel delivery, coolant circulation, oil circulation, and transmission fluid management. One of the key drivers of the global automotive pumps market is the increasing vehicle production worldwide. As the automotive industry continues to expand, the demand for automotive pumps rises in parallel. The rising population, urbanization, and improving economic conditions in emerging economies have led to a surge in vehicle ownership, further fueling the demand for automotive pumps. Technological advancements have also played a vital role in the growth of the automotive pumps market. Manufacturers are continuously developing innovative pump technologies to improve efficiency, reduce emissions, and enhance overall vehicle performance. For instance, the development of electric pumps and variable displacement pumps has gained traction due to their ability to optimize fuel consumption and reduce energy losses.

The growing demand for fuel-efficient vehicles has been a significant driver for the automotive pumps market. With increasing environmental concerns and stringent emission regulations, automakers are focusing on developing vehicles with improved fuel economy. Automotive pumps, such as fuel pumps and water pumps, play a crucial role in achieving better fuel efficiency by delivering the right amount of fuel and coolant to the engine. Moreover, the increasing adoption of electric and hybrid vehicles has further boosted the demand for automotive pumps. Electric vehicles require specialized pumps for cooling the battery, managing the transmission fluid, and circulating coolant. As the market for electric vehicles continues to grow, the demand for automotive pumps specifically designed for these vehicles is expected to increase. In conclusion, the global automotive pumps market is witnessing significant growth driven by factors such as increasing vehicle production, technological advancements, the growing demand for fuel-efficient vehicles, and the adoption of electric and hybrid vehicles. As the automotive industry continues to evolve, the market for automotive pumps is expected to expand further, driven by the need for improved vehicle performance, efficiency, and compliance with stringent emission regulations.

Key Market Drivers

Increasing Vehicle Production

The global automotive industry has been experiencing steady growth in vehicle production. This growth is driven by factors such as rising population, improving economic conditions, and increasing urbanization. As vehicle production continues to rise, the demand for automotive pumps also increases, as every vehicle requires various types of pumps for its proper functioning. The expansion of the automotive industry, particularly in emerging economies, is a major driver for the global automotive pumps market. According to the European Automobile Manufacturers’ Association, EU car sales saw a notable increase of nearly 17% during the first three quarters of 2023. This growth trend is expected to continue, with projections indicating a 12% increase in car sales for the full year. This rising vehicle production across various markets underscores the expanding demand for automotive pumps, further driving growth in the global automotive pumps sector.

Technological Advancements

The automotive industry is witnessing rapid technological advancements, and this has a direct impact on the automotive pumps market. Manufacturers are continuously developing innovative pump technologies to improve efficiency, reduce emissions, and enhance overall vehicle performance. For example, the development of electric pumps, variable displacement pumps, and intelligent pump systems has gained traction due to their ability to optimize fuel consumption, reduce energy losses, and provide better control over pump operations. Technological advancements drive the demand for advanced automotive pumps, as automakers strive to incorporate the latest technologies into their vehicles.

Growing Demand for Fuel-efficient Vehicles

The rising emphasis on environmental sustainability and stricter emission regulations are driving the increasing demand for fuel-efficient vehicles. Automotive pumps, including fuel and water pumps, are essential components in achieving enhanced fuel efficiency. They ensure the precise delivery of fuel and coolant to the engine, optimizing performance and reducing fuel consumption.

In response to these demands, automakers are focusing on developing vehicles with superior fuel economy. This shift towards fuel efficiency has significantly influenced the automotive pumps market, as the need for high-performance and efficient pumps grows. Over the past twenty years, vehicle fuel efficiency has improved markedly. According to preliminary data from the Environmental Protection Agency (EPA), the average fuel efficiency for new 2022 models stands at 26.4 mpg. This represents a notable 35.4% increase from the 19.5 mpg observed in 2002 models. For passenger cars, the improvement is even more pronounced, with fuel efficiency rising by 46.1%, from 22.8 mpg in 2002 to 33.3 mpg in 2022 models. Trucks have also seen substantial gains, with fuel efficiency increasing by 41.8%, from 16.5 mpg in 2002 to 23.4 mpg in 2022 models.

This trend underscores the automotive industry's commitment to enhancing fuel efficiency and highlights the critical role that advanced automotive pumps play in achieving these objectives. As vehicles become more fuel-efficient, the demand for sophisticated pump technologies that support these advancements continues to rise.

Adoption of Electric and Hybrid Vehicles

The increasing adoption of electric and hybrid vehicles is another significant driver for the global automotive pumps market. Electric vehicles require specialized pumps for cooling the battery, managing the transmission fluid, and circulating coolant. As the market for electric and hybrid vehicles continues to grow, the demand for automotive pumps specifically designed for these vehicles is expected to increase. The shift towards electric and hybrid vehicles is driven by factors such as government incentives, environmental regulations, and consumer preferences for cleaner and more sustainable transportation options.

Stringent Emission Regulations

Governments across the globe are implementing stringent emission regulations to reduce pollution and promote cleaner fuels. Automotive pumps play a crucial role in achieving these emission targets by ensuring efficient fuel delivery, proper cooling, and effective fluid management. Automakers need to comply with these regulations, which drives the demand for advanced automotive pumps that can meet the stringent emission standards.

Increasing Vehicle Safety Standards

Vehicle safety has become a top priority for consumers and regulatory bodies. Automotive pumps, such as brake pumps and steering pumps, are essential components for ensuring vehicle safety. The growing emphasis on vehicle safety standards and the incorporation of advanced safety features drive the demand for reliable and high-performance automotive pumps.

Growing Aftermarket Sales

The expansion of the automotive aftermarket is another driver for the global automotive pumps market. As vehicles age, the need for replacement parts, including pumps, increases. The aftermarket segment provides opportunities for pump manufacturers to cater to the demand for replacement pumps. The growing vehicle parc and the need for maintenance and repair contribute to the aftermarket sales of automotive pumps.

Increasing Focus on Vehicle Performance and Comfort

Consumers are increasingly demanding vehicles that offer better performance, comfort, and driving experience. Automotive pumps play a crucial role in enhancing vehicle performance and comfort by ensuring efficient operation of various systems such as power steering, air conditioning, and suspension. The growing consumer demand for enhanced vehicle performance and comfort drives the demand for advanced automotive pumps that can deliver optimal performance and contribute to a smooth and comfortable driving experience.

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Key Market Challenges

Increasing Cost Pressure

The automotive industry is facing increasing cost pressures due to various factors such as rising raw material prices, fluctuating exchange rates, and increasing labor costs. This poses a challenge for manufacturers of automotive pumps as they need to maintain competitive pricing while ensuring high-quality products. Balancing cost-effectiveness with performance and reliability becomes crucial in such a competitive market.

Technological Complexity

Automotive pumps are becoming increasingly complex with the integration of advanced technologies. This complexity poses challenges in terms of design, manufacturing, and maintenance. Manufacturers need to invest in research and development to keep up with the evolving technological landscape and ensure that their pumps meet the requirements of modern vehicles. Additionally, the integration of multiple pump systems in hybrid and electric vehicles adds another layer of complexity.

Stringent Emission Regulations

Governments around the world are implementing stringent emission regulations to reduce pollution and promote cleaner fuels. This puts pressure on automotive pump manufacturers to develop pumps that meet these regulations and contribute to lower emissions. Meeting these standards requires continuous innovation and investment in research and development.

Increasing Competition

The global automotive pumps market is highly competitive, with numerous players vying for market share. This intense competition puts pressure on manufacturers to constantly innovate and differentiate their products to stay ahead. Companies need to invest in research and development to develop advanced pump technologies and offer unique features to attract customers. The challenge lies in standing out in a crowded market and maintaining a competitive edge.

Supply Chain Disruptions

The automotive industry relies on a complex global supply chain to source components and raw materials. Disruptions in the supply chain, such as natural disasters, trade disputes, or political instability, can impact the availability of critical components for automotive pumps. Manufacturers need to have robust supply chain management strategies in place to mitigate the risks associated with supply chain disruptions.

Evolving Vehicle Technologies

The automotive industry is undergoing a rapid transformation with the advent of electric and autonomous vehicles. These new technologies require specialized pumps to meet their unique requirements. Manufacturers need to adapt to these evolving technologies and develop pumps that are compatible with electric and autonomous vehicle systems. Keeping up with the pace of technological advancements and ensuring seamless integration with new vehicle technologies can be a challenge.

Quality and Reliability

Automotive pumps are critical components that need to withstand harsh operating conditions and deliver consistent performance. Ensuring the quality and reliability of pumps is crucial to maintaining customer satisfaction and brand reputation. Manufacturers need to invest in quality control measures, testing, and validation processes to ensure that their pumps meet the highest standards of performance and reliability.

Environmental Sustainability

The automotive industry is increasingly focusing on environmental sustainability, and this includes the development of eco-friendly and energy-efficient vehicles. Automotive pump manufacturers need to align their operations with sustainable practices, such as reducing energy consumption, minimizing waste generation, and adopting eco-friendly manufacturing processes. Meeting these sustainability goals can be challenging and requires significant investments.

In summary, the global automotive pumps market faces challenges such as increasing cost pressure, technological complexity, stringent emission regulations, increasing competition, supply chain disruptions, evolving vehicle technologies, ensuring quality and reliability, and environmental sustainability. Overcoming these challenges requires continuous innovation, investment in research and development, and strategic planning to stay ahead in the dynamic automotive industry.

Key Market Trends

Increasing Demand for Electric and Hybrid Vehicles

The global automotive industry is witnessing a significant shift towards electric and hybrid vehicles. This trend is driven by factors such as increasing environmental concerns, government incentives, and advancements in battery technology. Electric and hybrid vehicles require specialized pumps for cooling the battery, managing the transmission fluid, and circulating coolant. The growing demand for electric and hybrid vehicles is expected to drive the demand for automotive pumps specifically designed for these vehicles.

Integration of Advanced Technologies

The automotive industry is witnessing the integration of advanced technologies such as connectivity, automation, and artificial intelligence. These technologies are also being incorporated into automotive pumps to enhance their performance and functionality. For example, smart pumps with sensors and connectivity capabilities can provide real-time data on pump performance, enabling predictive maintenance and optimizing vehicle performance.

Lightweight Pump Designs

The automotive industry is increasingly focused on reducing vehicle weight to improve fuel efficiency and performance. This trend is also influencing the design of automotive pumps, with manufacturers exploring lightweight materials and compact designs. Lightweight pump designs not only contribute to weight reduction but also improve overall vehicle dynamics and handling.

Shift towards Electric Power Steering

Electric power steering (EPS) systems are gaining popularity in the automotive industry due to their advantages such as improved fuel efficiency, reduced maintenance, and enhanced driver comfort. EPS systems require electric pumps for power assistance, replacing traditional hydraulic systems. The shift towards EPS systems is expected to drive the demand for electric pumps in the automotive market.

Growing Demand for Aftermarket Pumps

The automotive aftermarket plays a significant role in the global automotive pumps market. As vehicles age, the need for replacement parts, including pumps, increases. The expansion of the automotive aftermarket, coupled with the growing vehicle parc, is expected to drive the demand for aftermarket pumps. Manufacturers are focusing on providing high-quality aftermarket pumps to cater to the needs of vehicle owners and repair shops.

Emphasis on Sustainability and Environmental Responsibility

The automotive industry is increasingly focusing on sustainability and environmental responsibility. This includes the development of eco-friendly and energy-efficient vehicles. Automotive pump manufacturers are aligning their operations with sustainable practices, such as reducing energy consumption, minimizing waste generation, and adopting eco-friendly manufacturing processes. The emphasis on sustainability is expected to drive the development of more efficient and environmentally friendly automotive pump technologies.

In summary, the global automotive pumps market is witnessing trends such as increasing demand for electric and hybrid vehicles, growing focus on fuel efficiency, integration of advanced technologies, lightweight pump designs, shift towards electric power steering, increasing adoption of ADAS, growing demand for aftermarket pumps, and emphasis on sustainability. These trends are shaping the automotive pumps market and driving innovation in pump technologies to meet the evolving needs of the automotive industry.

Segmental Insights

Product Insights

The fuel pump segment is rapidly emerging as the fastest-growing component within the global automotive pumps market. This surge in growth is driven by increasing vehicle production and rising demand for advanced fuel delivery systems. Modern vehicles require high-efficiency fuel pumps to meet stringent emission regulations and enhance fuel economy. As automakers continue to innovate, the focus has shifted to electric and variable displacement fuel pumps, which offer improved performance and adaptability compared to traditional mechanical pumps.

Additionally, the expansion of electric vehicles (EVs) and hybrid vehicles is further accelerating the demand for advanced fuel pump technologies. These vehicles require specialized pumps to handle diverse fuel types and optimize energy efficiency. The integration of fuel pumps with advanced electronic control systems is also contributing to their growth, as these systems provide better precision in fuel delivery and overall engine performance.

The rise in consumer preferences for high-performance and fuel-efficient vehicles, coupled with technological advancements in fuel pump design, is propelling this segment to the forefront of the automotive pumps market. As automotive technology continues to evolve, the fuel pump segment is expected to maintain its rapid growth trajectory, reflecting broader trends in the industry.

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Regional Insights

The Asia Pacific region stands as the dominant force in the global automotive pumps market, reflecting its pivotal role in the automotive industry. This dominance is primarily driven by the robust growth in automotive production and sales across major economies such as China, Japan, and India. The region's rapid industrialization and urbanization have significantly boosted vehicle demand, necessitating advanced and efficient automotive pump technologies.

China, as the largest automotive market globally, is a major contributor to this trend. The country’s strong manufacturing base and substantial investments in automotive R&D have spurred the development and adoption of innovative fuel pumps and other automotive components. Similarly, India’s expanding automotive sector and increasing consumer preferences for modern vehicles are propelling the demand for advanced automotive pumps.

Moreover, the Asia Pacific region benefits from a well-established automotive supply chain and favorable government policies promoting automotive growth. These factors, combined with the rising emphasis on fuel efficiency and emission control, are fueling the growth of the automotive pumps market. As the automotive industry in Asia Pacific continues to evolve, the region is expected to maintain its leadership position, driven by ongoing advancements in technology and increasing vehicle production.

Recent Developments

• In February 2023, Motion & Control Enterprises finalized the acquisition of Precision Pump & Valve, a prominent distributor specializing in safety relief and control valves, pumps, and related equipment. Precision Pump & Valve provides comprehensive solutions tailored to the oil and gas, petrochemical, and chemical processing markets. This strategic acquisition enhances Motion & Control Enterprises' position in these industries and broadens its portfolio to better serve its customers.

• In April 2024, JTEKT has entered into a partnership with Team Visma-Lease a Bike (TVL) to provide ONI BEARING for the 2024 UCI World Tour. This collaboration highlights JTEKT’s commitment to supporting a leading road bike team, renowned for securing three major titles. JTEKT aims to leverage the ONI BEARING®—known for its low torque performance and exceptional reputation in Japan—to enhance TVL’s competitive edge.

• In April 2024, JTEKT Corporation has agreed to transfer its pump manufacturing operations in France to ACI Groupe. This strategic move is part of JTEKT's broader initiative to restructure its European business operations.

Key Market Players

• JTEKT Corporation
• ZF Friedrichshafen AG
• Aisin Corporation 
• HELLA GmbH & Co. KGaA
• Concentric AB
• TI Fluid Systems plc
• Continental AG
• SHW AG
• Phinia Inc.
• Pricol Limited

Report Scope:

In this report, the Global Automotive Pumps Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Automotive Pumps Market, By Product:

o   Fuel Pump

o   Oil Pump

o   Steering Pump

o   Water Pump

o   Fuel Injection Pump

o   Others

• Automotive Pumps Market, By Technology:

o   Mechanical

o   Electrical

• Automotive Pumps Market, By Vehicle Type:

o   Passenger Cars

o   Light Commercial Vehicles

o   Heavy Commercial Vehicles

o   Two-Wheelers

• Automotive Pumps Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe & CIS

§  Germany

§  Spain

§  France

§  Russia

§  Italy

§  United Kingdom

§  Belgium

o   Asia-Pacific

§  China

§  India

§  Japan

§  Indonesia

§  Thailand

§  Australia

§  South Korea

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  Turkey

§  Iran

§  Saudi Arabia

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the Global Automotive Pumps Market.

Available Customizations:

Global Automotive Pumps Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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