Global Automotive Pumps Market
Automotive Pumps Market Size And Forecast
According to Verified Market Research, Global Automotive Pumps Market was valued at USD 15.8 Billion in 2018 and is projected to reach USD 26.08 Billion by 2026, growing at a CAGR of 6.43% from 2019 to 2026.
Global Automotive Pumps Market Outlook
The increasing sales of commercial and passenger vehicles in developing countries is anticipated to boost the demand for automotive pumps. The growing demand for environment-friendly and fuel-effective automobiles has encouraged manufacturers to develop efficient fuel injection system. Thus, propelling the growth of the market. The technological advancement has replaced mechanical pumps with electric pumps, which improves the overall fuel efficiency of the vehicle. This, in turn, is expected to drive the growth of the market over the forecast period. However, the high cost of vehicle electrification coupled with fluctuation in the prices of raw material is some of the factors that may affect the growth of the market.
Global Automotive Pumps Market Competitive Landscape
The Global Automotive Pumps Market study report will provide a valuable insight with an emphasis on global market including some of the major players such as Delphi, Denso, Aisin Seiki, Johnson Electric, Magna, KSPG, Bosch, SHW, Seiki Co. Ltd, and ZF.
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