Automotive Pumps Market Worth 57.50 Billion USD by 2021
PUNE, India, August 1, 2016 /PRNewswire/ --
The report "Automotive Pumps Market by Pump Type (Fuel, Oil, Water, Steering, Transmission, Wind Shield Washer, Vacuum Pump and Fuel Injection Pump), Vehicle Type (Passenger Car, LCV and HCV), Technology, Type of Displacement, and by Region - Global Forecast to 2021", The global market is projected to grow at a CAGR of 5.87 % from 2016 to 2021, to reach a market size of USD 57.50 Billion by 2021.
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Browse 73 market data Tables and 51 Figures spread through 140 Pages and in-depth TOC on "Automotive Pumps Market"
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The major factors behind the growth of the global Automotive Pumps Market are increasing global vehicle production and growing demand for fuel efficient vehicles.
Fuel injection pumps leading the Automotive Pumps Market-favoring government regulations Stringent Environmental norms to spur the fuel injection pumps market
The fuel injection pumps market dominates the automotive pump market, the major reason being the increased demand for fuel efficient vehicles and global increase in production of the vehicles. With new regulations curbing the amount of pollutants emitted from the vehicles, the demand for the efficient fuel injection systems with efficient fuel pumps has increased. The transmission pumps segment follows the fuel injection pumps segment in global market share. The major factors contributing to this growth are the increase in vehicle production in countries like India, Brazil and China, and increased installation of the automatic transmission systems in vehicles.
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Variable displacement pumps are the fastest growing segment in the Automotive Pumps Market
Fuel efficient vehicles are the need of the hour in most parts of the world. Most of the vehicles used currently have fixed displacement pumps which provide a fixed flow of oil. Thus, additional pressure relief valves are employed to release this extra pressure and the energy produced is also not utilised properly. Variable displacement pumps are being used in automobiles which provide variable flow of oil. Variable displacement pumps increase the fuel efficiency of the vehicle, reduce the parasitic load on the engine crankshaft thus increasing engine life and reducing emissions. All of these reasons have added up to the increased use of variable displacement pumps in automobiles leading to an increase in the market share of variable displacement pumps over fixed displacement pumps.
Growing economies to be largest markets
By 2021, the Asia-Pacific will the largest automotive pump market attributed to growing economies such as China and India. OEMs have planned to increase their production capacity in terms of volume and are also setting up new facilities with innovative technological advancement in these regions. Rise in vehicle production in Asia-Pacific have propelled the growth of automotive industry in this region and thus leading to increase in Automotive Pumps Market.
The major players such as Aisin Seiki Co. LTD (Japan), Delphi Automotive LPP (U.S.), Denso Corporation (Japan), Johnson Electric (Hong Kong), Robert Bosch GmbH (Germany) and Magna International (Canada) are global automotive parts suppliers considered in this report.
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