The global automotive pumps market size was worth around USD 12.04 Billion in 2023 and is predicted to grow to around USD 18.04 Billion by 2032 with a compound annual growth rate (CAGR) of roughly 4.6% between 2024 and 2032.
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Overview of the automotive pumps market
Automotive pumps are pumps suggested for the transmission of automotive fluids to vehicles. Globally, these pumps are becoming more and more popular as they improve fuel economy and performance of a vehicle. Many different vehicle parts, including steering wheels, coolant, lubrication, and gearbox, need automotive pumps.
Globally, automobile producers are mostly concerned in continuous improvement of different automotive technology. A major element driving the automotive pumps industry is the observation of many automakers engaged in the automation of their vehicles. Many automakers are working with IT companies to create autonomous driving technology and closely reviewing data gathered from linked vehicles. Moreover, because of their fuel efficiency, automotive pumps are quite popular in the automobile sector.
Market for Automotive Pumps: Development Factors
Among the several advantages electric pumps provide over mechanical pumps are low-temperature fluctuations and great efficiency. These elements cause mechanical pumps to be replaced with electrical pumps to be generally trending. Since electric pumps can run effectively at high pressures, usage of them is rising everywhere. Many automakers are choosing electric pumps to follow varying required environmental government rules.
Effective carbon dioxide emissions from combustion engines are reduced by electric pumps, which are independent of any engine operations. Besides, an electric vehicle depends critically on electric pumps. Simultaneously propelling the automotive pumps industry is the growing demand for electric automobiles. Over 125 billion electric cars are expected to be on use by the end of 2032.
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The Global Automotive Pumps Market is segmented based on product, application and region
Global Automotive Pumps Market: Product Segment Analysis
● Windshield Washer Pumps
● Water Pumps
● Vacuum Pumps
● Transmission Pumps
● Steering Pumps
● Oil Pumps
● Fuel Pumps
● Fuel Injection Pumps
Global Automotive Pumps Market: Application Segment Analysis
● Heavy Commercial Vehicles
● Light Commercial vehicles
● Passenger Cars
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The Global Automotive Pumps market profiles key players such as:
● Delphi Automotive
● Aisin Seiki
● Magna International
● TRW Automotive
● SHW
● Robert Bosch
● Mikuni Corporation
● Denso Corporation
● KSPG AG
● Johnson Electric
Because Chinese firms are working more and more with foreign companies producing automobile pumps, the Asia Pacific automotive pumps market is predicted to have the greatest share worldwide. Thanks to the notable regional presence of well-known market players, Europe is predicted to develop especially in terms of income in the next years.
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