Automotive Pump Market Worth $26.5 Billion by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO, June 28, 2019 /PRNewswire/ -- According to the new market research report " Automotive Pump Market by Type (Fuel Pump, Water Pump, Vacuum Pump, Fuel Injection Pump, Steering Pump, & Headlight Washer Pump), Technology, Displacement, Vehicle Type (PC, LCV, HCV), EV (BEV, HEV, PHEV, FCEV), Region - Global Forecast to 2027", published by MarketsandMarkets, the Global Automotive Pump Market is projected to grow at a CAGR of 6.3% from USD 16.3 billion in 2019 to USD 26.5 billion by 2027.
- CHICAGO, June 28, 2019 /PRNewswire/ -- According to the new market research report " Automotive Pump Market by Type (Fuel Pump, Water Pump, Vacuum Pump, Fuel Injection Pump, Steering Pump, & Headlight Washer Pump), Technology, Displacement, Vehicle Type (PC, LCV, HCV), EV (BEV, HEV, PHEV, FCEV), Region - Global Forecast to 2027", published by MarketsandMarkets, the Global Automotive Pump Market is projected to grow at a CAGR of 6.3% from USD 16.3 billion in 2019 to USD 26.5 billion by 2027.
- In addition, the consistent growth in the demand for passenger cars is likely to trigger the growth of the Automotive Pump Market during the forecast period.
- Also, heavy investments in R&D activities by vehicle manufacturers to develop efficient fluid technology for automotive are expected to push the growth of the market.
- These factors are responsible for the growth of the Automotive Pump Market in the RoW region.