The automotive transmission pump market size is estimated to be valued at US$ 34.16 Bn in 2023 and is projected to reach US$ 49.39 Bn by 2030, exhibiting a compound annual growth rate (CAGR) of 5.4% from 2023 to 2030.
Automotive Transmission Pump Market Trends
In 2020, according to the United States Department of Energy, hybrid electric vehicles made up around 2.1% of total annual U.S. vehicle sales. The share is projected to grow to 3-5% over the next three years (2022- 2024) as fuel efficiency and emissions regulations tighten along with declining battery costs for automakers.
According to the International Energy Agency, electric vehicles now account for approximately 10% of new passenger vehicle sales as of 2022, indicating growing usage of efficient powertrains including CVTs especially in internal combustion engine vehicles.
Figure 1. Automotive Transmission Pump Market Share (%), By Region, 2023
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