Future Market Insights (FMI) delivers key insights on the global automotive pumps market in its latest report titled ‘Automotive Pumps Market: Global Industry Analysis and Opportunity Assessment 2015-2025.’ The long-term outlook on the global automotive pumps market remains positive with the market value expected to increase at a CAGR of 3.8% during the forecast period (2015-2025). Among pump types, the vacuum pump segment is expected to expand at a significant CAGR in terms of value over the forecast period. The global automotive pumps market for passenger cars is estimated to be valued at US$ 31.5 Bn by the end of 2015. APEJ is estimated to account for a value share of 32.8% in the global Automotive Pumps market by 2015 end and is anticipated to retain its dominance throughout the forecast period. In this report, FMI throws light on drivers and restraints likely to impact the market during this period.
Increasing Vehicle Production and Fleet on Road to Drive the Automotive Pumps Market
The production of automobiles grew rapidly in the Asia Pacific region from 42 million in 2012 to 46 million in 2015 due to the liberalization of markets, growth in wealth and size of the middle class and availability of a wide range of vehicles. In recent decades, Asia Pacific has emerged as a major region in terms of automotive production & sales and is expected to witness robust growth in the coming decade as well. The economic and income growth in large emerging markets, such as China and India, has been a primary driver for the global GDP growth and also, for automotive production and sales growth. China has contributed significantly to automotive sector’s growth in the last several years and its passenger car production has increased at a significant rate. Emergence of India as a high-growth economy is expected to make it one of the significant automotive markets in the coming years as well. As a result, the fleet on road is expected to increase significantly, which will ultimately impact the aftermarket. The growth in the vehicle production and fleet on road will ultimately result in the growth of the automotive pumps market.
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Segmentation Analysis of the Automotive Pumps Market
The Automotive Pumps market is segmented on the basis of pump type, technology, vehicle type and sales channel.
- Fuel supply pump is anticipated to continue to dominate the market in terms of value over the forecast period. The fuel supply pump segment of the automotive pumps market is estimated to grow at a significant CAGR over the forecast period. It is expected to represent a total incremental opportunity of US$ 8.7 Bn between 2015 and 2025. The vacuum pump is projected to grow at a relatively high CAGR as compared to other pump types over the forecast period.
- Electric automotive pumps is projected to be most prominent technology in the automotive pumps market. The electric automotive pumps segment is estimated to grow at a significant CAGR, in terms of value, over the forecast period. The market for electric automotive pumps is being driven by the benefits it offers over mechanical automotive pumps.
- The market for automotive pumps is estimated to be dominated by OEM and the segment is expected to grow at a significant CAGR of 5.1% during the forecast period.
Regional Market Projections of Automotive Pumps
The Automotive Pumps market in Asia Pacific Excluding Japan (APEJ) is expected to represent significantly high incremental opportunity between 2015 and 2025. The market of Automotive Pumps in APEJ is expected to represent a total incremental opportunity of US$ 9.5 Bn between 2015 and 2025.
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Automotive Pumps Market Participants
The report highlights some of the top companies operating in the Automotive Pumps market, such as Aisin Seiki Co. Ltd., Concentric AB, Continental AG, Delphi Automotive, Denso Corporation, Hella KGaA Hueck & Co., Hitachi Automotive Systems, Johnson Electric, JTEKT Corporation, KSPG AG, Magna International, Magneti Marelli SpA, Robert Bosch GmbH, Pricol Ltd., SHW AG, TI Automotive, and ZF TRW.