Auto Industry News
Auto Bailout News
Auto Show News
Car Dealers News
| Automotive News
| Submit Press Release
(I-AutoNewsWire.com, May 22, 2020 ) MarketsandMarkets forecasts the Automotive Pumps Market to grow from USD 16.3 billion in 2019 to USD 26.5 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 6.7% during the forecast period.
The major automotive pumps market players include Aisin Seiki (Japan), Delphi (UK), Denso (Japan), Johnson Electric (Hong Kong), Bosch (Germany), KSPG (Germany), Magna (Canada), SHW (Germany), and ZF (Germany).
1 Growth in the Use of Ethanol Fuel in the Automotive Industry
2 Increasing Trend of Engine Downsizing
Request FREE Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=242990293
The Asia Pacific is expected to account for the largest market size during the forecast period
The Asia Pacific region is estimated to be the largest market by 2027. The region comprises some of the fastest developing economies of the world such as China and India. Also, the Asia Pacific region is the largest market for automotive as the growing purchasing power of consumers has triggered the demand for automobiles in the region. Also, the increasing sales of commercial vehicles and passenger cars in the region are driving the growth of the market. Concerns over ecological imbalance caused by vehicle emissions have increased in the past decade in countries such as India, China, Malaysia, and Thailand. These concerns have forced major vehicle manufacturers to shift focus toward low fuel consuming vehicles. Hence, Asia Pacific is expected to show incremental growth in the market during the forecast period. Moreover, the high demand for passenger cars in fast emerging countries of the region is likely to drive the growth of the Asia Pacific market during the forecast period.
Rest of the World (RoW): Brazil is expected to be the fastest-growing country in the Rest of the World region by 2027
The RoW region is estimated to be the fastest-growing market during the forecast period. The region comprises some of the fastest developing economies of the world such as Brazil, Iran, and South Africa. The increased spending power in Brazil and South Africa has increased the demand for passenger cars. Growing concerns about ecological imbalance because of excessive emissions by automobiles have compelled automakers to comply with the emission mandates. These factors are responsible for the growth of the automotive pumps market in the RoW region.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=242990293
By Technology: Electric segment is the fastest-growing segment of the automotive pumps market during the forecast period
Electric pumps, which work with the help of electric motors, are gradually replacing mechanical pumps. The use of electric pumps is increasing due to their many advantages over mechanical pumps. The electric fuel pump provides more fuel efficiency as compared to the mechanical fuel pump. However, the installation of an electric pump requires a sophisticated electrical circuit, which increases the cost. Major global automakers are now using electric pumps in vehicular architecture.
Critical Questions Answered By The Study:
• How will the trend of the automotive pump impact the overall EV market in the long term?
• How will the implementation of emission norms and increasing adoption of EVs impact the market?
• What changes can be expected in the fuel injection system with the introduction of the electric pump?
• How will the industry cope with the challenge of increasing fuel efficiency with respect to pumps?
• What are the upcoming trends in the market? What impact would they make in the coming years?
• What are the key strategies adopted by the leading players in this market?
Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=242990293
Mr. Aashish Mehra