Automotive Transmission Pump Market Growth Accelerated by Rising Demand for Automatic Transmission Vehicles

 


Automotive Transmission Pumps are an integral component of vehicles as they help in supplying pressurized fluid to transmission systems that enables smooth gear shifting during vehicle operation. Automatic transmission vehicles utilize complex pumping systems for delivering fluid at different pressures depending upon gear engaged. With growing preference for comfort and convenience of automatic transmission vehicles especially in passenger cars, the demand for technologically advanced automatic transmission pumps have surged.

The global automotive transmission pump market is estimated to be valued at US$ 40.42 Bn in 2024 and is expected to exhibit a CAGR of 25% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the key trends driving growth in the automotive transmission pump market size is the rising adoption of automatic transmissions in vehicles. With enhanced driver comfort and improved fuel efficiency of modern automatic transmissions, consumers are moving away from manual transmissions resulting in higher installation of automatic transmission pumps in new vehicles. Furthermore, advancement in automatic transmission technologies has led to complex multi-speed transmissions with more gear ratios and precise hydraulic control systems requiring highly efficient and durable transmission pumps. Leading automotive transmission pump manufacturers are focused on developing innovative pumps with minimized friction losses and optimized pressure control capabilities to match the demand for next-generation automatic transmissions. This is expected to further fuel the sales of transmission pumps during the forecast period.

Segment Analysis
The global automotive transmission pump market can be segmented on the basis of vehicle type, displacement type and sales channel. The passenger car segment dominates the market and accounts for more than 60% share owing to rising demand for passenger vehicles across the globe. Within passenger cars, the automatic transmission segment has witnessed higher growth compared to manual transmission. This is ascribed to increasing consumer preference for hassle-free driving experience offered by automatic variants.

Key Takeaways
The global automotive transmission pump market is expected to witness high growth between 2024-2031 driven by rising vehicle production and sales worldwide.

Regional analysis: Asia Pacific region holds the majority share in the global market and is expected to maintain its dominance during the forecast period. Growing middle class population and high economic growth rate in countries such as China and India has propelled the sales of passenger and commercial vehicles which in turn has augmented the demand for transmission pumps in the region. Furthermore, presence of leading automakers like Toyota, Honda and regional players such as SAIC, Great Wall Motors is adding to the regional market growth. North America and Europe are other major markets driven by recovery in auto sales post COVID-19 pandemic in key countries like the US, Germany, and UK.

Key players operating in the Automotive Transmission Pump market includes Facebook, Inc., Kiwi, Inc., Astute Solutions, Google, Inc., Pandorabots, Inc., Haptik, Inc., Yahoo Inc., Helpshift, Toyota Motors Corporation, Ford Motor Company, General Motors, Nissan, Volkswagen etc. Toyota Motors Corporation holds the leading position globally owing to its expansive product portfolio and widespread geographic presence.

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