Future Market Insights has announced the addition of the “Automotive Pumps Market: Global Industry Analysis and Opportunity Assessment 2015-2025" report to their offering.
Valley Cottage, NY -- (SBWIRE) -- 01/25/2016 -- Automotive pumps, improving the efficiency are the essential part of a vehicle. Automotive pumps when invented were used as a component to transfers fluid, now are used to improve fuel efficiency and performance of vehicles. Growing demand of environmental friendly solutions influence manufacturers to develop better pumps. It is used in various system of a vehicle such as, lubrication system, steering system, coolant system, transmission system and fuel system.
Automotive Pumps Market: Drivers & Restraints
Automotive pump manufactures are actively involving in the continuous ongoing development in automobile industry by focusing on the efficiency improvement of pumps. Increasing passenger car penetration in the developing countries such as China and India, aided by the growing personal income rate will spur the growth of automotive pump market. Additionally, stringent fuel efficiency laws will also play a major role in the growth of this market.
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Automotive Pumps Market: Segmentation
On the basis of type, automotive pumps market is broadly segmented as:
Power Steering Pump
On the basis of vehicle type, the market is segmented into:
Light Commercial Vehicle
Heavy Commercial Vehicle
Two – Wheeler
In addition, report also includes segmentation on the basis of channel type:
Owing to demand of fuel efficient pump along with technology advancement, electric fuel pump is replacing the mechanical fuel pump. The primarily used oil pump in automobile sump system includes gear rotor pump and gear pump.
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Automotive Pumps Market: Region-wise Outlook
Asia – Pacific region owing to the fast growing automotive industry in developing countries such as India, China and South Korea is expected to show a significant growth in the automotive pump market. Strict laws in Western & Eastern Europe for vehicle efficiency will drive the automotive pump market in this region. North America is also anticipated to a moderate growth with credits to the strong fuel efficiency norms in the region. With rapid technological advancement and growing fuel efficiency demand in automobile industry, automotive pumps market is expected to increase at a significant CAGR during the forecast period.
Automotive Pumps Market: Key Players
Some of the players in the market we identified includes Delphi Automotive LLP, Aisin Seiki Co. Ltd., Johnson Electric Holding Ltd., Robert Bosch GmbH, Borg Warner Automotive Inc., Hitachi Automotive Systems Americas Inc., SHW AG, Mikuni Corporation and Denso Corporation.
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