Given the expanding automobile sector, the automobile components industry is likely to witness major innovations with an aim to align with the new technologies incorporated in modern automobiles. The significant enhancements brought about by automakers in vehicle offerings are fueling innovations in the automotive parts that manage the functioning of vehicles. Automotive pumps are amongst these crucial automotive parts.
Companies serving the automotive pumps market are taking constant efforts to improve the capabilities of automotive pumps, thereby accelerating the functioning of vehicles deploying these pumps. Furthermore, the continually emerging automotive industry trends are further driving key developments in the automotive pumps market. Automotive pumps are gaining a center stage owing to their significant role in maintaining energy efficiency on account of the increasing consumer preference for green technology and the stringent carbon emission regulations worldwide.
Vehicle Electrification Driving Demand for Automotive Pumps
In the wake of the increasing environmental concerns associated with carbon emissions and the growing awareness of consumers to achieve optimum fuel consumption, electric mobility is gradually taking over the automotive sector and associated businesses. As the world witnesses a rising fleet of electric and hybrid vehicles, the demand for automotive pumps is also witnessing a noteworthy escalation.
As companies embrace electric vehicle technology, various notable developments are cited across the globe. Moreover, automotive pump systems are capturing spotlight as a result of the consistent inclination towards electric mobility. Tesla, a leading name in the automobile sector continues to optimize the performance and safety of cars and is constantly exploring new ways to enhance the systems deployed in vehicles. The company is looking to deliver improved cooling and diagnostics for which it is working to improve its vehicles’ electric pump system.
Engine Coolant Pumps for Hybrid Vehicles
As the demand for automotive pumps continues to rise, novel automotive pumps are increasingly introduced in the market. Companies aim to elevate performance standards with new automotive pumps.
With the aforementioned proliferation of electric and hybrid vehicles, companies operating in the automotive pumps market are supplying products designed for the hybrid vehicle fleet. Sogefi, an automotive parts manufacturer in Italy signed a supply contract with Volvo Cars. With respect to this contract, Sogefi would supply automotive engine coolant pumps for Volvo’s next-generation hybrid models, which would bring 10 million euros of additional annual sales for Sogefi. With respect to this agreement, Sogefi announced the production of coolant pumps at its China-based plant.
Portfolio Expansions with a Focus on the Automotive Aftermarket
While novel and effective automotive pumps introduced in the market are finding their application in the upcoming vehicle fleet, providers of automotive pumps are maintaining a considerable focus on the automotive spare parts market.
Schaeffler, for instance, an automotive industry company recently expanded its product portfolio of intelligent water pumps, particularly for the automotive aftermarket. As a part of this expansion, the company introduced three new switchable water pumps for the Mercedes-Benz and Volkswagen models with which the company would cover nearly 4 million more vehicles in Europe alone.
New Range of Micro Gear Pumps Unveiled
With a number of technological advancements witnessed worldwide, automotive component manufacturers are making headway by providing improved offerings that incorporate advanced technologies.
Marzocchi Pompe, a company involved in designing, producing, and marketing high-performance gear pump recently highlighted its latest micro gear pump technology. These pumps are particularly designed for integration in assemblies of semi-automatic clutches, automatic transmissions, all-wheel-drive systems, electro-hydraulic power steering, suspension systems, assistance in hybrid-type propulsion, and rear-steering trucks.
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