by Automotive transmission pumps are used to circulate automatic transmission fluid (ATF) within automatic transmissions of vehicles. The pumps are either gear-driven or hydro-dynamically driven by the transmission fluid and supply hydraulic pressure which is important for gear shifts and torque converter lockup in automatic transmissions. Automotive transmission pumps help ensure smooth gear shifts by maintaining proper line pressures. The growing production of passenger and commercial vehicles across major economies is propelling the demand for automatic transmissions and correspondingly transmission pumps. Rapid urbanization and rising living standards in developing nations are augmenting the sales of vehicles, thereby boosting the 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 key trends:
One of the key trends in the automotive transmission pump market is the growing adoption of electric vehicles. With stricter emission norms and push for sustainability, electric vehicle sales are rising rapidly across the globe. Unlike conventional vehicles with automatic transmissions requiring hydraulic pumps, electric vehicles utilize single speed transmissions or direct drive mechanisms not needing a hydraulic transmission pump. This could hamper the demand growth of transmission pumps in the long run. However, automakers are working on developing efficient dual-clutch transmissions for electric vehicles to provide similar driving feel to internal combustion engine vehicles, which would support transmission pump demand to some extent even in electric drivetrains. Continued technological advancements in automotive transmission systems aimed at improving efficiency, drivability and reducing costs are some other major trends shaping the future course of the automotive transmission pump market.
Porter’s Analysis
Threat of new entrants: The automotive transmission pump market has moderate threat of new entrants due to the high capital investments required for infrastructure and R&D.
Bargaining power of buyers: Automotive manufacturers have high bargaining power due to their large buyer bases and demand for high quality and cost-effective transmission pumps.
Bargaining power of suppliers: Key transmission pump manufacturers hold moderate bargaining power due to lower substitution levels and capabilities to produce transmission pumps in large volumes.
Threat of new substitutes: The threat of substitutes is low as there are limited alternatives to transmission pumps in automobile industry.
Competitive rivalry: The automotive transmission pump market witnesses high competitive rivalry due to presence of numerous global and regional players.
Key Takeaways
The Global Automotive Transmission Pump Market Size is expected to witness high growth. The Asia Pacific region dominates the global automotive transmission pump market with the largest market share. Factors such as rising vehicle production and sales along with growing adoption of automatic transmission systems in vehicles are fueling the demand for automotive transmission pumps in Asia Pacific.
Regional analysis
The Asia Pacific region is projected to be the fastest growing as well as the largest market for automotive transmission pumps during the forecast period. Countries such as China, India, Japan and South Korea are the major markets for automotive transmission pumps in Asia Pacific. This can be attributed to presence of established automotive industry and increasing automotive sales in these countries.
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., Metaldyne Performance Group Inc. Aisin Seiki Co. is one of the largest manufacturer and supplier of automotive transmission pumps worldwide.
