The Automotive Oil Pump by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Automotive Oil Pump , The automotive oil pump market size has grown strongly in recent years. It will grow from $17.99 billion in 2023 to $19.05 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to engine efficiency demands, emission standards compliance, material and manufacturing advances, vehicle weight reduction, global automotive production growth.
The automotive oil pump market size is expected to see strong growth in the next few years. It will grow to $23.87 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to integration of cooling systems, stricter fuel economy standards, increased focus on electric powertrains, supply chain resilience, electric vehicle trends. Major trends in the forecast period include integration of sensors and smart technologies, lightweight materials and design optimization, adoption of advanced manufacturing techniques, hybrid and electric vehicle trends, efficiency improvements.
The rapid increase in vehicle production is expected to boost the growth of the automotive oil pump market going forward. Motor vehicle production refers to the manufacture of automobiles and light trucks/utility vehicles. Automobile oil pumps pressurize fluids and protect engine components of vehicles from frictional wear and overheating by lubricating oil at the appropriate pressures. This as a result, grows the adoption of vehicle production, thus increasing the demand for the automotive oil pump market. For instance, in April 2022, in a report published by the European Automobile Manufacturers Association, in 2021, 79.1 million motor vehicles were produced worldwide, a 1.3% increase over 2020. Additionally, according to the Global EV Outlook 2021, consumers spent USD 120 billion on electric vehicle purchases in 2020, a 50% increase over 2019. Therefore, the growing adoption of electric vehicles is driving the growth of the automotive oil pump market.
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The automotive oil pump market covered in this report is segmented –
1) By Discharge Type: Gear Pump, Gerotor, Vane Pump, Other Discharge Type (Plunger pumps)
2) By Displacement Type: Fixed Displacement, Variable Displacement
3) By Vehicle Type: Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles, Buses And Coaches, Off-Road Vehicles
4) By Lubrication System: Wet Sump Lubrication, Dry Sump Lubrication
5) By Sales Channel: Original Equipment Manufacturer(OEM), Aftermarket
Top Major Players:
Asia Pacific was the largest region in the automotive oil pump market in 2023.
Technological advancements are a key trend gaining popularity in the automotive oil pump market. Major companies operating in the automotive oil pump market are focusing on developing new products to sustain their position in the market. For instance, in January 2022, Toyoda Gosei Co. Ltd., a Japan-based manufacturer of rubber and plastic automotive components, launched a lighter-weight oil pump. This oil pump includes precision plastic molding technology, one of the core technologies, to create gears and other oil pump components out of plastic which makes the oil pump’s weight to be reduced by around 30%.
The automotive oil pump market report table of contents includes:
1. Executive Summary
2. The Automotive Oil Pump Market Characteristics
3. The Automotive Oil Pump Market Trends And Strategies
4. The Automotive Oil Pump Market – Macro Economic Scenario
5. Automotive Oil Pump Market Size and Growth
…….
26. Global Automotive Oil Pump Market Competitive Benchmarking
27. Global Automotive Oil Pump Market Competitive Dashboard
28. Key Mergers and Acquisitions In Automotive Oil Pump Market
29. Automotive Oil Pump Market Future Outlook and Potential Analysis
30. Appendix
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