Automotive Pump Market by Vehicle Type and Geography - Forecast and Analysis 2020-2024
Global Automotive Pump Market: About this market
Technavio’s automotive pump market analysis considers sales from new vehicles offered by automotive manufacturers. Our report also provides a detailed analysis of the market in APAC, Europe, MEA, North America, and South America. In 2019, the passenger cars segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the increasing use of advanced forms of fuel injections such as GDI or fuel stratified injection (FSI) will play a significant role in the passenger cars segment to maintain its market position. Also, our global automotive pump market report looks at factors such as the growth of automotive industry in emerging economies, growth in sales of electronic fuel injected vehicles,, and the adoption of new or improved emission standards. However, high costs of electric fuel pumps, increasing demand for hybrid and electric vehicles, and increasing availability of counterfeit products may hamper the growth of the automotive pump industry over the forecast period.
Global Automotive Pump Market: Overview
Growth in sales of electronic fuel injected vehicles
Automobile manufacturers are increasingly focusing on minimizing emissions and enhancing the performance, safety, comfort, and fuel efficiency of vehicles. The electronic fuel injection systems provide superior performance, power, output, and fuel efficiency and results in lower emissions than carbureted vehicles. Hence, vendors are gradually shifting from mechanical fuel injection systems to electronic fuel injection systems. The increasing awareness about the technical specifications of vehicles among consumers, will lead to the expansion of the global automotive pump market at a CAGR of over 7% during the forecast period.
Developments in the field of hydrocarbon evaporation control systems
Growing concerns regarding environmental pollution have driven various stakeholders in the automobile industry to undertake various sustainability initiatives. Some of the prominent tier-1 suppliers are focusing on the development of automotive technologies and systems that minimize harmful effects on the environment. Hence, strict evaporative hydrocarbon emission standards will encourage tier-1 suppliers to develop new and advanced systems and technologies. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global automotive pump market during the forecast period 2020-2024, click here.
With the presence of several major players, the global automotive pump market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading automotive pump manufacturers, that include Aisan Industry Co. Ltd., Aisin Seiki Co. Ltd., Continental AG, Delphi Technologies Plc, DENSO Corp., General Motors Co., Hitachi Ltd., Johnson Electric Holdings Ltd., Rheinmetall AG, Robert Bosch GmbH, and Valeo SA.
Also, the automotive pump market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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