The global automotive pump market is projected to grow at a CAGR of 4.1% during the forecast period, to reach USD 18.0 billion by 2027 from an estimated USD 14.8 billion in 2022. The forecast period is 2022 to 2027. Factors such as increasing focus of automakers to introduce fuel-efficient vehicles and stringent emissions norms would drive the growth of the market.
The major market players include Aisin Corporation (Japan), Denso (Japan), Robert Bosch GmbH (Germany), Continental AG (Germany), and Valeo (France). These players have adopted various growth strategies such as partnerships, agreements, collaborations, and new product launches to expand their presence in the global market. Partnerships and new product launches have helped the key players innovate their offerings and broaden their customer base.
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Aisin Corporation is a leading player in the global automotive pump market. The company offers high-quality pumps for automotive applications and caters to a large customer base including major automakers across the globe. In 2020, Aisin Tohoku Co. of the Aisin Group announced the expansion of its factory to begin production of small and medium-sized motor products, mainly electric water pumps, by 2022. The electric water pump is to be newly produced in the plant. In 2020, Aisin Tohoku Co. of the Aisin Group announced the expansion of its factory to begin production of small and medium-sized motor products, mainly electric water pumps, by 2022. The electric water pump is to be newly produced in the plant. These product developments by the company are expected to boost its revenue and expand its customer base.
Denso is engaged in developing and marketing advanced automotive technologies, systems, and components. The company, originally incorporated as the Nippon Denso Company, is Japans leading automobile components producer. It was founded in 1949 and is headquartered in Aichi prefecture, Japan. As the second-largest member of the Toyota Group, more than half of Densos products are made for the Toyota Motor Corporation (TMC), which owns a maximum share of Denso stock. In 2020, Denso acquired Jeco Co., Ltd., an automotive component manufacturer. Jeco became a wholly-owned subsidiary of Denso. In 2019, Denso announced that it had invested approximately USD 1.6 billion over the three years—from FY2018 to late FY2020—to support its aggressive development and production of electrified automotive products, systems, and technologies
Robert Bosch GmbH (Germany), the world’s leading automobile parts and components manufacturer, is another key player in the market. The company offers advanced technologies in almost all applications of the vehicle. It offers a strong product portfolio comprising electric and mechanical pumps for vehicles. The company plans to enhance its product offering for automakers. In Feb 2019, Bosch launched an electric coolant pump, ECP 160. The coolant flow of the pump can be regulated according to engine requirements and can deliver up to 14,700 liters per hour on-demand. The ECP 160 is designed to replace mechanical pumps in combustion engines but can operate in other applications, such as batteries, electric motors, or inverter cooling.
Continental AG, also known as Continental, is a German multinational automotive parts manufacturing company specializing in brake systems, interior electronics, automotive safety, powertrain, tires, and other parts for the automotive and transportation industry. The powertrain division, under the automotive group, offers innovative and efficient system solutions for different powertrains. This division also offers electric coolant pumps for pure electric vehicles.
Valeo is a French global automotive supplier that provides a wide range of products to automakers and aftermarkets. It offers automotive pumps in its thermal system segment for passenger cars. The company provides water pumps for the engine cooling system, helping to prevent overheating of the engine. Valeo supplies water pumps to major carmakers offering premium quality in the engine cooling system. The company also offers a wide range of fuel pumps, including mechanical fuel pumps, electrical inline fuel pumps, electrical fuel pumps for modules. All fuel pump manufacturers are engineered and produced according to original equipment specifications. In April-2021, Valeo launched heat pump that procures two-thirds of its energy demand from the ambient air, limiting the need to draw energy from the onboard batteries and using a natural refrigerant.
Automotive Pumps Market by Type, Technology (Electric, Mechanical), Displacement, Vehicle Type, Sales Channel (OEM, Aftermarket), EV (BEV, HEV, PHEV, FCEV), Off-Highway Vehicles, Application and Region - Global Forecast to 2027
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