Global Automotive Pump Market 2017-2021
About Automotive Pump
A pump is a device that helps in moving a matter (liquid or gas) using mechanical action. There are two types of pumps in the market: Reciprocating pumps (with linear motion) and rotary pumps (with rotating motion). Automotive pumps are crucial in vehicles and help in supplying the required amount of fluid or air for the smooth functioning of all systems. Currently, there is no replacement for these pumps. Furthermore, the shifting of the automotive sector from mechanical systems to electrical systems, increasing focus toward developing highly fuel-efficient vehicles, and stringent emission norms would drive the market growth during the forecast period.
Technavio’s analysts forecast the global automotive pump market to grow at a CAGR of 4.09% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive pump market for 2017-2021. To calculate the market size, the report considers the volumes only.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive Pump Market 2017-2021
Technavio recognizes the following companies as the key players in the global automotive pump market: Continental, DENSO, Johnson Electric, and Robert Bosch.
Other Prominent Vendors in the market are: Magna International, Delphi Technologies, Rheinmetall Automotive, Valeo, TRICO, and Hitachi.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Transformation from 12V to 48V supply. Emission norms and continuous changes in government regulations are forcing OEMs to come up with innovations. Therefore, OEMs are working toward adding new features to make their vehicles better and differentiate their products in the market and comply with the rules and regulations set by the government.”
According to the report, one of the major drivers for this market is Rigorous emission norms for all vehicles. Governments worldwide are imposing stringent regulations due to increased awareness regarding the hazardous effects of emissions from vehicles. These regulations for emission control are forcing the OEMs to focus on the manufacturing of fuel-efficient vehicles, thereby increasing R&D expenses. The vehicle emission includes harmful gases, such as NOx, VOCs, O3, CO, PM10 and PM2.5, CO2, and benzene (C6H6), that directly affect the respiratory system. Recently, the Government of India has announced the implementation of BS-IV emission standard norms, which is similar to the European norms.
Further, the report states that one of the major factors hindering the growth of this market is Upgradation leading to the increase in overall costs. Upgradation of the cooling system, including the radiator and fan assembly, is required to accommodate the electric coolant pump. This can pose a major challenge for the electric coolant pump market. Engines with larger radiator will dissipate more heat due to rapid movement of the coolant around the radiator.
Continental, DENSO, Johnson Electric, Robert Bosch, Magna International, Delphi Technologies, Rheinmetall Automotive, Valeo, TRICO, and Hitachi.
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