Automatic Transmission Pumps Fastest Growing Segment Fueling Growth Of The Automotive Transmission Pump Market

 
 Automotive Transmission Pump Market

The global Automotive Transmission Pump Market is estimated to be valued at US$ 35.08 Bn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
The automotive transmission pump functions to transfer hydraulic pressure from the engine of the vehicle to the transmission. This ensures smooth transmission of torque from the engine to the wheels for linear movement. With increasing demand for fuel-efficient and high-performance vehicles, automatic transmission pumps have emerged as a fast growing segment in the automotive transmission pump market.

Market key trends:
One of the key trends fuelling growth in the automotive transmission pump market is the rising shift towards automatic transmission systems globally. Automatic transmission provides more convenience and comfort to the driver compared to manual transmission. According to a recent study, the share of cars manufactured with automatic transmission increased from about 25% in 2010 to over 40% in 2020 worldwide owing to benefits such as ease of driving in city traffic and enhanced driving experience. Other advantages like better fuel efficiency and towing capacity of modern automatic transmission systems has further spurred their demand.

Segment Analysis

The global automotive transmission pump market is segmented based on transmission type, pump type, vehicle type, and geography. By transmission type, the automatic transmission segment dominated the market in 2022. Automatic transmission vehicles are increasingly being preferred by consumers due to better drivability and improved fuel efficiency. By pump type, the transmission oil pump segment accounted for the largest share of the market in 2022 owing to high installation rates in vehicles.

Key Takeaways

The Global Automotive Transmission Pump Market Size is expected to witness high growth, exhibiting CAGR of 5.5% over the forecast period, due to increasing vehicle production worldwide.

Regional Analysis

Asia Pacific is expected to emerge as the fastest growing as well as dominating regional market over the forecast period. Countries like China, India, and Japan are witnessing rising vehicle ownership, which is driving the demand for automotive transmission pumps in the region.

Key Players

Key players operating in the automotive transmission pump market are Aisin Seiki Co., Ltd., Bosch Limited, Magna International Inc., ZF Friedrichshafen AG, Schaeffler AG, BorgWarner Inc., JTEKT Corporation, Denso Corporation, Eaton Corporation, Hitachi Automotive Systems, Ltd., Valeo SA, GKN Automotive Limited, Hyundai WIA Corporation, Aisin AW Co., Ltd., and Metaldyne Performance Group Inc.

Read More:

https://www.marketwebjournal.com/automotive-transmission-pump-market-demand-size-and-growth/

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