Automotive transmission pumps play a crucial role in supplying necessary amounts of hydraulic pressure in automatic and automated manual transmissions of vehicles. Automatic transmission pumps help circulate automatic transmission fluid within the transmission system, maintaining optimal hydraulic pressure for smooth gear shifts. Growing demand for fuel-efficient vehicles equipped with advanced automatic transmission systems is a key driver augmenting the need for high-performance transmission pumps. 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 key trends:
The growing demand for fuel-efficient vehicles is propelling automakers to focus on developing advanced automatic transmission technologies for improved performance and efficiency. Advanced dual clutch transmission systems integrated with high-pressure transmission pumps help optimize transmission efficiency. Leading automakers are increasingly adopting dual-clutch transmissions for their vehicles launched in high fuel price markets to boost fuel economy. Growing consumer preference for efficient automatic transmission vehicles in regions such as Europe and Asia Pacific is augmenting demand for technologically advanced transmission pumps featuring improved pressure management and optimized hydraulic flow.
SWOT Analysis
Strength: The automotive transmission pump market has strong growth potential owing to rising vehicle production especially in emerging economies. Higher vehicle miles traveled globally boosts aftermarket sales as well.
Weakness: High initial investment costs for developing transmission pumps pose challenges for new entrants in the market. Changing emissions norms also require frequent upgrades in pump technology.
Opportunity: Increasing demand for electric and hybrid vehicles opens up opportunities for transmission pump manufacturers to develop innovative pump designs suitable for new powertrain technologies. Growing automotive sector in Asia Pacific and Central and South America offer huge market expansion opportunities.
Threats: Stiff competition among existing players threatens individual market share and profit margins. Shift towards more fuel efficient automatic transmission variants can impact demand for certain pump types. Rise of shared mobility also poses a long term threat to individual vehicle ownership trend.
Key Takeaways
The Global Automotive Transmission Pump Market Size is expected to witness high growth over the forecast period of 2023 to 2030 driven by rising vehicle production and higher mileage. Regional analysis indicates Asia Pacific currently dominates the market and is expected to maintain its lead through 2030 owing to huge vehicle manufacturing base in countries like China, Japan, India, and South Korea. 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, and Aisin AW Co., Ltd.
Regional analysis comprises Asia Pacific has the largest share in the automotive transmission pump market currently. Countries like China, Japan, India, and South Korea have a huge domestic automotive manufacturing industry and contribute significantly to regional demand. Growing vehicle parc and increasing miles traveled also support strong aftermarket needs in Asia Pacific.
Key players related content comprises 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. Major players focus on innovations and strategic collaborations to consolidate their market shares.