Automotive Transmission Pump Market to Witness Highest Growth Owing to Increasing Vehicle Production

The automotive transmission pump market has witnessed significant growth over the past few years owing to the increased production of vehicles across the globe. An automotive transmission pump is used to circulate automatic transmission fluid (ATF) or manual transmission fluid (MTF) within a vehicle's transmission system. It helps in smooth gear shifting and prolongs the life of transmission systems. The growing automotive industry has led to substantial demand for transmission pumps in new vehicles.

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 2030.

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. The increasing production of vehicles across the world is one of the major factors driving the growth of the automotive transmission pump market. Various technological advancements such as the development of electric transmission pumps are expected to provide growth opportunities for market players.

Market Trends
Growing demand for fuel-efficient vehicles: Rising fuel costs and stringent emission norms have increased demand for fuel-efficient vehicles. This has propelled OEMs to focus on developing efficient automatic transmissions, which is driving the demand for improved transmission pumps.

Development of electric transmission pumps: Companies are developing electric transmission pumps to replace traditional engine-driven pumps. Electric pumps offer better control and efficiency. For instance, Bosch launched its first electric transmission oil pump in 2019.

Market Opportunities
Development of smart transmission pumps: Integration of sensors and IoT enables remote monitoring of transmission systems. Smart pumps with advanced control units can precisely modulate oil pressure.

Adoption in hybrid and electric vehicles: Progressive replacement of conventional transmission systems with e-CVTs and single-speed transmissions in hybrids and EVs will open new growth prospects for transmission pump manufacturers.

Impact of COVID-19 on Automotive Transmission Pump Market
The COVID-19 pandemic significantly impacted the global Automotive Transmission Pump Market Size. Strict lockdowns imposed worldwide led to closure of automotive production facilities. This disrupted supply chains and reduced demand from automotive manufacturers. However, with relaxations in restrictions and businesses resuming operations, the market is recovering gradually.

During pre-COVID times, the automotive transmission pump market was growing steadily owing to rising vehicle production and sales worldwide. Technological advancements in transmission systems and growing preference for automatic transmission variants were also driving market growth. However, the pandemic outbreak stalled this positive growth momentum temporarily.

Going forward, as economic activities pick up pace, the automotive transmission pump market is expected to bounce back. Though challenges around supply chain disruptions and manufacturing constraints may persist in short term. Automakers are also focusing on ramping up electric vehicle production which uses different transmission technologies. This shifts may impact transmission pump demand to some extent. Overall, the long term market outlook remains positive supported by reviving automotive sales globally once COVID-19 impact subsides completely.

Geographical Regions with Highest Automotive Transmission Pump Market Value
Asia Pacific dominates the global automotive transmission pump market in terms of value. China, India, Japan and South Korea are among the major automobile producing nations in the region. Strong demand for vehicles from growing middle class is propelling transmission pump sales. North America and Europe also account for sizable shares driven by presence of leading automakers and component suppliers in countries such as U.S., Germany, UK and France.

The Africa region is projected to witness fastest growth in the automotive transmission pump market over the forecast period. Factors such as rising disposable incomes, improving road infrastructure and government initiatives to boost local automotive manufacturing are fueling vehicle sales across African nations. This expanding automotive customer base will support transmission pump demand from the African market in the upcoming years.