Automotive Pump Market Outlook – 2027
The Automotive pump is used to circulate fluids under pressure in vehicles. Improper functioning of automotive pump hampers performance of different systems, such as steering, coolant, transmission, fuel supply, and lubrication and others. Additionally, automotive pump has been used to improve efficiency and performance of vehicle. Further, automotive pump plays an important role in reducing emission of vehicle. By transferring the fluid in entire vehicles, automotive pump also helps in reducing wear and tear of parts. Besides, it helps in cooling engine and thereby increasing the life of vehicle. With technological advancements and rising demand for passenger car segment, the market is expected to surge.
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COVID-19 scenario analysis:
- Since the outbreak of coronavirus at the end of 2019, the impact has been felt on automotive and automotive textile market simultaneously.
- With ongoing lockdown, the job layoffs and recession are severely affecting the automotive textile industry.
- Companies are suffering a major loss as the loans taken from banks are usually backed by sales of vehicles.
- However, pump is major component in a vehicle for proper supply of lubrication in steering, coolant, transmission, fuel supply, and lubrication. Hence the replacement of automotive pump won’t be neglected by consumers during the maintenance work. This, in turn, would uphold the demand for automotive pump market.
Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Automakers are constantly focusing on innovating technologies to enhance the fuel efficiency of the vehicle in order to attract more consumers. Due to this, the sales of automotive pump have increased as it delivers fuel at optimized pressure as per requirement of engine. Moreover, increasing adoption of automatic transmission and gasoline turbocharged direct injection needs automotive pumps for its prime functioning. Additionally, automotive pump also provides assistance for proper functioning of important safety features like power steering and anti-lock braking system (ABS). However, increasing adoption of electric vehicles could hamper the automotive pump market growth. Further, escalating production of vehicles will proliferate the automotive pump market growth.
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The automotive pump market trends are as follows:
Electric pump to drive the market
Mechanical pumps are less energy efficient and they have higher hydraulic losses than electric pumps. Moreover, electric pumps are independent of the combustion engine operation and can be controlled with much greater precision, and can be used only when required. This increases the fuel efficiency, thermal resistance and controls the emission level. For instance, Continental’s electric fuel pump reduce carbon emission by 1.5-2 g per km for 1.8L diesel engines.
Increase in adoption of OBD in fuel injection
On-board diagnostics (OBD) refers to a vehicle’s self-diagnostic and reporting capability. OBD systems give the vehicle owner or repair technician access to the status of the various vehicle sub-systems. The next generation OBD provides real time data of vehicle while driving. Unlike carburetors or previous mechanical fuel-injection systems, electronic fuel injection (EFI) requires computer control and OBD makes its work easy.
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Key benefits of the report:
- This study presents the analytical depiction of the automotive pump industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed Automotive pump market analysis based on competitive intensity and how the competition will take shape in coming years.
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