Automotive Pumps Market Size, Share & Analysis

During the forecasted period, the fuel injector pumps industry will continue to be led in terms of growth by the fuel injection pumps market. As far as the demand for fuel-efficient vehicles and environmental regulations are concerned, there are many reasons that are contributing to the increased demand for fuel injector pumps in the market today.

Electric pumps are expected to grow at the fastest rate during the forecasting period. This is due to the fact that electric pumps can ensure that their flow rate matches the demand as well as minimize energy use or operational expenditure. Tighter emissions standards, aiming at the reduction of vehicle emissions, along with an increased use of electric vehicles around the world, is also expected to increase the market for electric pumps. The growth rate is expected to be high in the case of mechanical pumps due to the higher number of vehicles with mechanically driven pumps.

Variable displacement pumps are anticipated to dominate the market in the coming forecast period, thanks to growing need for fuel economy and lower emissions. It provides more effective flow control and less energy waste than fixed displacement pumps. Variable displacement is useful in challenging applications, like advanced power steering, while also being essential in electric vehicles. Due to technological evolution, variable displacement pumps have become more affordable, which accelerates their adoption with the automotive industry embracing more efficient and eco-friendly technologies.

The engine & HVAC sector is expected to be the biggest market during the forecast period. The reason for this is the rising use of automotive pumps in engines and HVAC systems because of the increased demand for vehicles with improved fuel efficiency and operating capacity. Automotive pumps improve automobile fuel efficiency and performance. The requirement for thermal systems and automatic climate control functionalities is also increasing the automotive HVAC system market.

The passenger car segment is expected to emerge dominant in the market during the forecast period. Rising sales of passenger cars are expected to fuel the demand for automotive pumps. In addition, the trend of moving towards hybrid and electric vehicles has significantly increased the adoption of advanced pump technology that enables and supports hybrid/electric vehicles.

The BEVs market is estimated to occupy the largest size during the forecast period. The cost of batteries used in EVs has been declining owing to technological developments. This is expected to translate into the lowering of prices for BEVs. The FCEV market is estimated to register the highest growth rate during the next decade due to its various beneficial features.

The steering pumps segment is estimated to drive the off-highway automotive pump industry over the period. Off-highway vehicles need powerful steering systems, which can deal with heavy loads and perform on tough terrain. The steering pumps have become crucial for providing the necessary hydraulic power to ensure smooth steering control of the off-highway vehicle. The advancements in power-assisted steering systems and the rising adoption of electrification in the off-highway automotive industry are further propelling the adoption of advanced steering pumps. The growth in the mining and construction industries is adding to the growing adoption of steering pumps.

The OEM market will remain the leading segment throughout the forecast period. The OEM market is affected by the rising demand for new vehicles, especially in developing nations. Car manufacturers are showing a rising inclination towards the incorporation of innovative and efficient pumping technologies to comply with strict emission norms and improve vehicle performance. The rising demand for electric and hybrid vehicles also fuels the demand for specific pumps used for electric power trains.