Automotive Transmission Pump Market to Scale New Highs Driven by Increasing Automobile Production

Automotive Transmission Pump Market to Scale New Highs Driven by Increasing Automobile Production

Growing at a steady pace, the automotive industry is witnessing increased automobile production annually with demand for fuel-efficient and high-performance vehicles rising consistently. Automotive transmission pumps are an integral part of automatic transmissions that help regulate hydraulic pressure inside the transmission for smooth gear shifts. Key functions include drawing transmission fluid from the sump and channelizing it to the various valve bodies and torque converters to facilitate clutch engagement and disengagement during gearshifts.

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 of 2024 to 2030.

With advancements in automatic transmission technologies, transmission pumps are evolving to be more efficient and durable. Continuously variable transmissions, dual-clutch transmissions, and automated manual transmissions are witnessing increased adoption rate. This, coupled with the rising vehicle production worldwide is anticipated to drive the demand for transmission pumps at an exponential rate.

Key Takeaways

Key players operating in the automotive transmission pump are Facebook, Inc., Kiwi, Inc., Astute Solutions, Google, Inc., Pandorabots, Inc., Haptik, Inc., Yahoo Inc., Helpshift, ToyTalk (PullString Inc.), Imperson Ltd., Slack Technologies, Inc., Kasisto Inc., and Microsoft Corporation. Key players are focusing on developing efficient transmission pumps with optimum pressure control for smooth gearshifts. Technological advancements are enabling transmission pumps to deliver higher power output.

Rising consumer spending on personal vehicles and the growing preference for comfortable driving experiences are creating opportunities for automotive transmission pump manufacturers. Expanding middle-class population and increasing per capita income levels in developing economies are further amplifying the demand. Automotive giants are eyeing high-growth markets like China, India, Brazil, Mexico for tapping rising demand and consolidating their global presence.

Market Drivers
Increasing Automobile Production: Growing at an annual rate of over 3%, global automobile production reached almost 80 Mn units in 2020 despite the pandemic slump. This massive automobile production drives the demand for transmission pumps from OEMs.

Technological Advancements: Continuous innovations are enabling transmission pumps to deliver higher power output, precise hydraulic pressure and flow control, optimal efficiency, noise reduction, and extended service life. Features like electric transmission pumps are gaining traction.

Market Restrain
Increasing Adoption of EVs: With growing environmental consciousness, electric vehicles that do not require a transmission system can impede the demand growth of conventional automotive transmission pumps in the long run. However, in the short to medium term, the EV penetration will be limited compared to ICE vehicles.

Segment Analysis
Automotive Transmission Pump Market Size is segmented by vehicle type, transmission type and geography. Passenger car segment dominates the market as most of the production and sales of vehicles are of passenger cars. Within passenger cars, automatic transmission vehicles have higher adoption of transmission pumps compared to manual transmission vehicles, hence the automatic transmission segment dominates the automotive transmission pump market.

Regional Analysis
Asia Pacific region accounts for largest share in the global automotive transmission pump market. Higher production and sales of vehicles especially in China and India drives the dominance of Asia Pacific region. North America and Europe are other major regions for automotive transmission pump market. In terms of future growth, Asia Pacific region is expected to continue dominating followed by North America region owing to increasing adaption of automatic transmission vehicles in these regions.
​
Get more insights on- Automotive Transmission Pump Market
 
Check more trending articles related to this topic: Microfiber Synthetic Leatheri