The Automotive Pump Market Size is projected to reach $12.96 billion by 2035, reflecting substantial growth driven by advancements in vehicle electrification and increased demand for fuel-efficient and emission-reducing technologies. As automotive manufacturers focus on developing electric and hybrid vehicles, the need for efficient pump systems in electric vehicle drivetrains, battery cooling systems, and fuel injection is expected to rise significantly. Additionally, the expansion of automotive production globally, especially in emerging markets, is anticipated to drive demand for automotive pumps, as manufacturers seek advanced solutions to enhance vehicle performance and meet stringent environmental regulations.
Factors such as increasing investments in electric and hybrid vehicle technology and the adoption of turbocharged engines in internal combustion engine (ICE) vehicles further contribute to the growth of the Automotive Pump Market Size. With rising fuel efficiency standards and the trend towards lightweight components, automotive pumps are evolving with new materials and innovative designs to improve functionality. This demand for advanced pump systems in both ICE and electric vehicles underpins the market’s growth potential, positioning the automotive pump market for steady expansion over the next decade.
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Engine & HVAC segment is estimated to lead the automotive pump market during the forecast period.
Internal combustion engine (ICE) vehicles still hold around 82% of the global market, which drives strong demand for engine and HVAC pumps. Countries such as India, Japan, and the US continue to show high demand for ICE and hybrid vehicles, keeping this segment strong during the forecast period. However, in the next 5-6 years, demand is expected to shift towards electric pumps for applications such as battery cooling systems and other EV-related technologies as electric vehicle adoption increases. Similarly, demand for water pumps for battery cooling to grow with ongoing EV shift, as these vehicles come with advanced BMS, which needs additional cooling pumps for managing battery temperature.
“North America is expected to grow at a significant rate during the forecast period.”
Electrical pump segment is expected to grow at the faster rate in the automotive pump market during the forecast period
Electric pumps are more efficient than mechanical pumps as they increase fuel efficiency. However, installing these pumps increases a vehicle’s overall cost. The installation rate of electric pumps is higher in developed countries and is slowly increasing in developing countries. Growing demand for fuel-efficient vehicles with stringent emission norms and rising production are the key factors driving the market for electric pumps. The automotive industry is subjected to several rules and regulations imposed by governments to reduce vehicle pollution. Many automotive pump manufacturers are expanding their product portfolios to develop electric pumps. For example, in July 2023, Igarashi Motors India announced plans to broaden its product offering with developing technologies in actuator and braking applications, such as electric vacuum pumps. In 2023, they supplied 32 million subassemblies globally. Furthermore, the majority of EVs use liquid cooling systems that rely on electric water pumps to circulate the coolant. Companies such as Rheinmetall AG (Germany), GMB CORPORATION (Japan), and Industrias DOLZ, S.A. (Spain), among others, are providing electrical pumps to the key OEMs.
Asia Pacific is estimated to be the largest market during the forecast period
Asia Pacific is estimated to be the largest market during the forecast period. Countries such as India, Japan, and China continue to have a high penetration of ICE vehicles. This will increase the demand for pumps such as steering pumps, fuel injection pumps, and oil transmission pumps. Additionally, there will be a significant potential for the aftermarket for automotive pumps in the Asia-Pacific region over the next 5-6 years. Further, the region’s large consumer base, rapid vehicle production, and robust economic development make Asia Pacific a lucrative market for automotive OEMs and component and equipment suppliers. Automotive pump manufacturers such as Aisin Corporation (Japan), Denso Corporation (Japan), Johnson Electric Holdings Limited (China), Hitachi Astemo, Ltd. (Japan), and Mitsubishi Electric Corporation (Japan) have a dominant presence in Asia Pacific.
Key Players
The major players in the automotive pump market include Denso Corporation (Japan), Aisin Corporation (Japan), Continental AG (Germany), Robert Bosch GmbH (Germany), and Mitsubishi Electric Corporation (Japan).
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