In the view of higher adoption of green technologies, OEMs are shifting their production procedures for automotive pumps. Within a couple of years, automotive pumps will be available integrated with multiple functions. While such automotive pumps will improve the performance of the vehicle, they will lower the product portfolio of pump manufacturers. The global market for automotive pumps is also expected to witness sluggish growth on the account of rising raw material prices associated with production of automotive pumps.
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The Fact.MR report on the global automotive pumps market predicts that by the end of 2017, the global market will be valued at nearly US$ 48 Bn. The market will, however, soar at a steady pace, reflecting steady CAGR to reach US$ 60 Bn. Following highlights offer an insightful outlook on the expansion of global automotive pumps market during 2017-2022.
- According to the report, the global market for automotive pumps will acquire highest share of revenues from the Asia-Pacific excluding Japan (APEJ) region. In consideration of large automobile manufacturing hubs such as China and South Korea situated in this region, the APEJ market for automotive pumps will account for over one-third share on the global market revenues throughout the forecast period.
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- The demand for automotive pumps is anticipated to be the lowest in Europe. By 2022, the sales of automotive pumps in Europe will have soared languidly, reflecting a listless CAGR.
- North America’s automotive pumps market, too, is expected to witness decelerated sales of automotive pumps in 2017, harvesting revenues just over US$ 10 Bn. Conversely, the demand for automotive pumps in Japan will be relatively more exceeding than that in the US and Canada. The automotive pumps market in Japan is poised to set forth a moderate CAGR over the forecast period.
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- In 2017, global sales of fuel supply pumps are expected to translate revenues worth over US$ 20 Bn. Towards the end of forecast period, global fuel supply pump sales will mark a global revenue share of nearly half of the market value. The report also projects that mechanical pumping technology slowly and steadily lose traction in the global automotive industry. Sales of mechanical automotive pumps will showcase a negative CAGR towards the end of 2022, indicating their outright absence.
- The report also projects that by the end of 2017, the global market for automotive pumps will be dominated by passenger cars, accounting for nearly 70% share on global revenues. In terms of sales channels, OEMs will hold the dominant share, and attribute to more than US$ 47 Bn market value by 2022-end.
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- The report profiles leading players in the global market, which include companies such as Delphi Automotive Plc., Denso Corporation, Magna International Inc., Robert Bosch Limited, Magneti Marelli SpA, Rheinmetall Automotive AG, AISIN SEIKI Co. Ltd., Mikuni Corporation, Concentric AB, ZF Friedrichshafen AG, and Pricol Limited.
Read More Trending and Similar Reports from Fact.MR – https://www.globenewswire.com/en/news-release/2019/04/02/1795341/0/en/Intelligent-Traffic-Management-Systems-Market-to-Surge-2-4x-through-2026-Finds-Fact-MR-Study.html
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