by Market Overview:
Automotive transmission pumps are used to circulate automatic transmission fluid within the transmission system. They provide proper oil pressure for smooth gear shifting. Hydraulic pressure is a key factor that enables precise control of gears and valves within automatic transmissions.
Market key trends:
One of the key trends in the automotive transmission pump market is the shift towards electric vehicles. With the push towards electrification globally, the demand for internal combustion engine vehicles and their components is reducing. Electric vehicles require less complex transmission systems as compared to conventional vehicles, thereby impacting the demand for transmission pumps. However, pump manufacturers are developing new products suitable for mild hybrid and hybrid electric vehicles, which still utilize automatic transmissions to some extent, to tap into the growth opportunities. Another major trend is the development of advanced transmission fluid to improve fuel economy. New transmission fluids are being formulated to reduce friction within transmissions and enhance viscosity performance. This allows transmission pumps to function efficiently while transferring less amount of transmission fluid.
One of the key trends in the automotive transmission pump market is the growing demand for automated manual transmission (AMT) and dual-clutch transmission (DCT). AMT and DCT are more efficient than conventional transmissions as they offer improved fuel-economy and enhanced driving experience. Leading automakers are focusing on integrating AMT and DCT in their vehicles, especially in entry and mid-level passenger cars, to meet the stringent emission norms. This is expected to drive the need for innovative transmission pumps among automotive OEMs.
SWOT Analysis
Strength: Advanced transmission technologies like CVT and DCT require precise fluid pressure control, presenting opportunities for transmission pump manufacturers to provide customized solutions.
Weakness: Development of advanced transmission pumps necessitates heavy Investments in R&D.
Opportunity: Growing electric vehicle market offers scope for developing new transmission pump designs suitable for battery-powered electric vehicles.
Threats: Shift towards electric powertrains may reduce demand for transmission pumps in the long run. Stiff competition from local players offering low-cost products.
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 demand for fuel-efficient vehicles.
Regional analysis: Asia Pacific dominates the global market and is expected to continue its lead position during the forecast period. Countries like China and India serve as major automotive markets, driving the regional demand for transmission pumps.
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.
Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
