As automotive industry essays to develop fuel efficient and cleaner burning engines, electric pump is becoming a rationale alternative to its mechanical counterpart. Hybrid vehicles have embraced sophisticated electronically control systems and sensors that have relevance on the engine cooling system. Given an electric pump provides a relevant flow control capability that is totally independent of engine speeds.
Going green has brought car manufacturers to the vanguard position as most of the general public connote greenery to the ever-increasing numbers of hybrid and electric vehicles in production and on the road. Irrespective of the pump is pushing coolants, pump of fuel around the car, the trend has been the same—mechanical pumps are making way for electric pumps.
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Unlike mechanical pumps, electric pumps are independent of the combustion engine operation which can be controlled with tremendous precision and can be used as and when pumping is on demand. When used in fuel pump, it transpires into a significant reduction in a fuel consumption and lower emissions. Besides, when it is used in water and coolant pumps, the efficiency and controllability lessens the power consumption and improves the thermal control of the engine. However, there is one loophole in automotive electric pump is that they aren’t as potent as mechanical ones given their lower flow rate which does not allow the movement of coolant as quickly as the mechanical one. Owing to its horsepower gains, electric water pumps have traditionally been marketed to car racing.
Automotive Pumps Market: Key Insights
The automotive pumps market grew at over 4% CAGR during 2012-2016 on the back of booming automotive industry and technological developments.
Global sales of automotive pumps surpassed 780,000 units in 2018 and the market is estimated to grow at a volume CAGR of 5.3% during the forecast period of 2017-2026.
Asia Pacific Excluding Japan (APEJ) will remain the largest market for automotive pumps 2017-2026 period. An exponential increase in demand for automobiles, along with introduction of premium features in mid-sized cars remains a key factor influencing the growth of automotive pumps market in the region.
Riding on the flourishing automotive manufacturing industry in Asia Pacific excluding Japan (APEJ), the region is anticipated to rule the roost in the automotive pumps market with largest revenue share and the growth rate of over 5 percent during the assessment period. Large scale urbanization, volatile consumer behavior in developing economies and burgeoning population have been credited for fueling automotive pumps market in APEJ.
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Automotive Pumps Market: Overview
The intelligence report on the automotive pumps market is undergirded by quantitative and qualitative analysis. In addition, the report throws light on the dynamics in the market which have bearing on the growth of the automotive pumps market, incorporating drivers, trends, restraints, and opportunities. In addition, the report also delineates segmentation to showcases a comprehensive analysis of the automotive pumps market.
The report does the benchmarking to compare the performance of the business products and processes with the best performances of other companies both inside and outside the industry in quest for superior performance.
The comprehensive assessment of the competitive landscape of the automotive pumps market relies on Porters’ Five Force Analysis. In addition, the Porters’ Five Force Analysis delineates the strategies of the leading players in the automotive pumps market. The in-depth analysis of the pertinent players and their business strategies are propelled by SWOT analysis, company profile, product portfolio and recent development.
The report is the result of unbiased and authentic primary sources and secondary sources that present a deep dive analysis on automotive pumps market. The secondary research hinges on Factiva, resourceful database, EC filing and trade journals. On the other side, the report has also heavily relied upon primary research, that includes genuine analysis from pundits, veracious and unbiased assessment from seasoned analyst, and surveys and telephonic interview.
Leading players participating in the automotive pumps market include Denso Corporation, TRW Automotive, Mikuni Corporation, Continental AG, Johnson Electric, Mahle Group, Magna International, KSPG AG-A, Robert Bosch Gmbh, SHW AG, and Davies Craig.
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