AUTOMOTIVE PUMPS MARKET ANALYSIS

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• Coherent Market Insights
• Market Research and Business Consulting Services
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• AUTOMOTIVE PUMPS MARKET ANALYSIS

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Market Overview

• Automotive pumps are essential component in an
  automobile or any other internal combustion
  engined device to transfer fluid and to enhance
  fuel efficiency as well as vehicle performance.
  Generally, automotive pumps are used in a variety
  of vehicle parts including steering,
  transmission, coolant, fuel, and lubrication.
  Automotive pumps have witnessed significant
  demand, in order to provide environment-friendly
  solutions in automobile. On the basis of vehicle
  type, the automotive pumps market has been
  segmented into passenger cars, light commercial
  vehicles and heavy commercial vehicles. On the
  basis of sales channel, the market has been
  segmented into original equipment manufacturer
  (OEM) and aftermarket.
• The global Automotive Pumps Market was accounted
  for US 51,885.07 Mn in terms of value and
  738,923 units in terms of volume in 2019 and is
  expected to grow at CAGR of 3.8 for the period
  2019-2027.

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Market Dynamics- Drivers

• Wider scope of use for pumps with development in
  technology is expected to drive growth of the
  global automotive pumps market during the
  forecast period
• Automobile produced these days are equipped with
  advanced technology and smart features that
  fulfill the latest safety, quality, emission, and
  performance standards. On the contrary, consumers
  are increasingly becoming price-sensitive and are
  preferring automobiles with superior comfort
  features at a reasonable cost. Furthermore, over
  the last decade, manufacturers in the market have
  started incorporating numerous advanced
  technologies such as power steering, gasoline
  direct injection, gasoline turbochargers, and
  automatic transmission into automobiles. Such
  technologies require automotive pump to ensure
  efficient operation. Hence, these factors are
  expected to drive growth of the market in the
  near future.
• Growing automotive production worldwide is
  expected to propel the global automotive pumps
  market growth over the forecast period
• Automotive pumps have witnessed significant
  demand in the recent past, due to growing
  automotive production and vehicle parc. In fact,
  irrespective of economic conditions across the
  globe, the global automotive industry has
  performed satisfactorily. According to Coherent
  Market Insights analysis, automotive production
  is expected to register a CAGR of 3-3.5 during
  the forecast period. Moreover, automotive
  production is expected to be higher in emerging
  economies as compared to developed countries.
  This is owing to growing urbanization and stable
  economic conditions in these countries. Thus,
  these factors are expected to propel the global
  automotive pumps market growth over the forecast
  period.

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• Asia Pacific region dominated the global
  Automotive Pumps Market in 2019, accounting for
  42.3 share in terms of value, followed by
  Europe, North America, Middle East and Africa and
  Latin America.

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Market Dynamics- Restraints

• Low replacement rate and aftermarket potential
  are expected to hinder the global automotive
  pumps market growth during the forecast period
• Automotive pumps are an integral part of the
  transmission, driveline and auxiliary systems,
  which are rarely replaced in automotive.
  Replacement rate across the globe varies
  according to the category of pump, ranging
  between 0.1 and 1 of the vehicle parc. Growing
  technological advancements is expected to further
  reduce replacement rate during the forecast
  period. Therefore, very low potential offered by
  aftermarket and low replacement rate is expected
  to hinder the global automotive pumps market
  growth in the near future.
• Availability of better substitutes in terms of
  electric motors for pumps are expected to hamper
  the global automotive pumps market growth over
  the forecast period
• Automotive pumps are actuated using electrical or
  mechanical energy and are accordingly classified
  as electric or mechanical pumps. Certain
  functionalities offered by steering or brake
  booster pumps can also be achieved by using
  electric motors. This, in turn, is expected to
  hamper the market growth over the forecast
  period.

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Market Opportunities

• Providing custom-made pumps can present lucrative
  growth opportunities
• Majority of automotive pump manufacturers laying
  emphasis on product differentiation, in order to
  maintain competitive advantage in the market.
  Automakers are introducing major changes in
  automotive and associated product designs, in
  order to cater to ever-changing consumer demands.
  Moreover, these manufactures are providing
  customized and requirement-specific products such
  as low vibration, brushless fuel pumps, and
  compact pumps for automakers. Offering such
  products is a potential opportunity to secure
  long-term supply contracts from automakers.
• Enhancing product line to offer a complete
  solution can provide major business opportunities
• Pump manufacturers can offer a pump as solution
  rather than a product to automakers in order to
  sustain market share. Monitoring systems,
  controlling solutions and other auxiliaries can
  be integrated along with pumps 

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Market Trends

• Growing product launches, in order, expand the
  product portfolio
• Key players in the market are focused on product
  launches, in order to expand product portfolio
  and gain market share. For instance, in 2015,
  Behr Hella Service added around 100 commercial
  vehicle water pumps for common vehicles makes to
  its portfolio. Moreover, in 2014, Hella extended
  its portfolio by introducing new product groups
  of thermostats, differential pressure sensors,
  vacuum pumps, and accelerator pedals.
• Introduction of high quality automotive pumps to
  enhance vehicle efficiency
• Introducing novel products with innovative
  technology are an essential part of automotive
  industry. Moreover, auto manufacturers are
  developing and experimenting with innovative
  technologies that will help enhance vehicle
  performance, adjunct functioning, fuel injection,
  braking, aesthetics, and transmission. Hence, the
  demand for customized automotive products is
  increasing significantly. Moreover, many OEMs in
  the market are focused on launching innovative
  products, in order to enhance their market
  presence. For instance, in 2011, Delphi
  introduced Premium GDi High Pressure Fuel Pump to
  its gasoline direct injection products.

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Segment information

• In global Automotive Pumps Market, by technology,
  Electric sub-segment dominated the global market
  in 2019, accounting for 76.2 share in terms of
  value, followed by Mechanical.

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Competitive Section

• Key players operating in the global automotive
  pumps market are JTEKT Corporation, ZF TRW
  Automotive Holdings Corp., Aisin Seiki Co. Ltd.,
  WABCO Holdings, Inc., Concentric AB, TI
  Automotive Ltd., Continental AG, SHW AG, Delphi
  Automotive LLP, Pricol Ltd., DENSO Corporation,
  Robert Bosch GmbH, HELLA KGaA Hueck Co.,
  Magneti Marelli S.p.A, Hitachi Automotive
  Systems, Ltd., Magna International Inc., Johnson
  Electric Holdings Limited, and KSPG AG.

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Key Developments

• Key players in the market are focused on product
  launches, in order to expand product portfolio.
  For instance, in January 2019, JTEKT Corporation
  introduced its latest mobility technologies
  including automotive pumps at North American
  International Auto Show (NAIAS).
• Major market players are involved in contracts
  and agreements, in order to gain a competitive
  edge in the market. For instance, in April 2018,
  Concentric AB entered into a contract with ZF
  Friedrichshafen AG for electric oil pump
  technology.

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