Global Automotive Hydraulic Pump Market– Introduction
- An automotive hydraulic pump is a gear pump usually located in the cover of the transmission. It is used to draw fluid from a sump in the bottom of the transmission and feeds it to the hydraulic system. Automotive hydraulic pumps also feed the torque converter and the transmission cooler.
- Automotive hydraulic pumps are mostly used to stop cars or vehicles and also to support the weight of vehicles or automobiles so as to provide a smoother ride.
- Automotive hydraulic pumps are simple machines as they are less likely to break, quickly create pressure force, are easy to compress, highly efficient, and easier to repair
- Automotive hydraulic pumps are used in automobiles to transfer pressure onto a braking pad, which then presses onto the axel and stops the cars from moving. In addition, automotive hydraulic pumps provide the needed pressure or force to allow brake calipers to engage the brake pads or brake disc with sufficient pressure to stop the vehicle. Therefore, automotive hydraulic pumps are an integral part of the overall brake system.
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Global Automotive Hydraulic Pump Market–Dynamics
Key Drivers of the Automotive Hydraulic Pump Market
- Increasing sales of passenger cars are expected to lead to the growth of the automotive hydraulic pump market during the forecast period. Passenger cars are expected to hold significant share of the automotive hydraulic pump market in terms of volume and value in 2019.
- Furthermore, the rising trend of using light commercial vehicles across developed and developing countries across the globe is expected to lead to gradual growth of the automotive hydraulic pump market during the forecast period 2019-2027.
- Shifting consumer preference toward energy-efficient services and solutions for automobiles with superior efficiency, minimum running costs, and affordability are expected to fuel the growth of the automotive hydraulic pump market.
- Increasing adoption of automotive hydraulic pumps for electrification in vehicles is expected to fuel the growth of the market.
Europe to Hold Major Share of the Global Automotive Hydraulic Pump Market during the Forecast Period
- Europe is expected to hold significant share of the global automotive hydraulic pump market during the forecast period due to well established automotive manufacturers such as Volkswagen Group, Volvo Cars and Volvo Group, Renault, Jaguar Land Rover, Ford Europe, BMW, DAF, Daimler AG, and Fiat Chrysler Automobiles across the region.
- Asia Pacific is expected to be the largest market by 2027, due to a rising automotive market as the growing purchasing power of consumers has initiated the demand for vehicles across the region. This in turn is expected to drive the automotive hydraulic pump market over the next few years.
- The economic situation across the world is complicated with many uncertainties expected in the coming years. Government regulations with respect to reducing air pollution and global warming is projected to increase the demand for automotive hydraulic pumps in mature markets such as Europe and North America.
Global Automotive Hydraulic Pump Market–Competitive Landscape
Companies operating in the automotive hydraulic pump market are increasingly investing in research and development to develop new and innovative techniques to manufacture automotive hydraulic pump. The automotive hydraulic pump market is highly fragmented due to the presence of numerous manufacturers in developed and developing regions. Furthermore, manufacturers are striving to gain a competitive edge by increased product differentiation.
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Key Players Operating in the Global Market
The global automotive hydraulic pump market is highly concentrated with top manufacturers accounting for approximately 25%–30% of the market share. A few of the key players operating in the global automotive hydraulic pump market are listed below:
- Actuant Corporation
- Bosch Rexroth Limited
- Cool Cars Engineering
- Dynamatic Technologies Limited
- JTEKT HPI
- Linde Hydraulics GmbH & Co. KG
- Parker Hannifin
- Peerless Engineering.
- PERMCO, INC.
- ANSYS, Inc.
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