Global Oil Pump Market For Automotive Industry Outlook and Forecasted Analysis Through 2026

Market Research Report Search Engine (MRRSE) recently announced the addition of a new research study to its comprehensive collection of research reports. The research report, titled “Oil Pump Market For Automotive Industry - Global Industry Analysis, Size, Share, Growth, Trends, And Forecast 2018 - 2026” offers a detailed analysis of the market providing insights into the market dynamics that are expected to influence the overall market positively in the next few years. Furthermore, the product segmentation, drivers, barriers, key geographical segments, and the competitive scenario of the global Oil Pump Market have been elaborated upon in the research report.

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Oil pump for automotive are primarily utilized to pump lubricating and cooling oil within the engine of a vehicle. An oil pump is imperative to lubricate the internal components, namely, pistons, camshaft, bearings, and crankshaft, among others. Lack of lubrication leads to friction and wear & tear, which in turn is likely to cease the engine and cause damage to the internal components thereby leading to incur heavy loss. Hence, lubricating oil is circulated at high pressure for better and effective functioning of engine parts. Oil pump for automotive are vary in accordance with the usage of the automobile, such as an off-road vehicle, a normal passenger car, or a heavy commercial vehicle. The fuel efficiency and performance of engine is directly proportional to the proper functioning of the oil pump for automotive.

Increased demand for passenger vehicles across the globe is considered to be one of the primary factors propelling the demand for oil pump for automotive market. Rising urbanization in different countries has been attributed toward the increase in overall vehicle miles driven globally, by approximately 2% to 4%, in recent years. This, in turn, has propelled the usage of passenger cars significantly, which is anticipated to propel the demand for oil pump for automotive market in the near future. The automotive industry in Asia witnessed significant growth due to increase per capita income, easy availability of finance, and declining car loan/ bank interest rates. Supported by stable economies and low labour overheads that have entailed in localizing the manufacturing facilities for major OEMs, thereby eliminating large chunks of import duty taxes. Reduced vehicle prices have enhanced the size of total addressable end user market, favouring the mid income group population, which is coupled with better customizable finance options and high disposable income.

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Oil pump for automotive is used to circulate the lubricant with variable pressures over the complete assembly of automotive engine. As a resultant, the life span of engine components is likely to increase by approximately one to two years. These beneficial properties of the oil pump system can harness better market demand especially for the IC engines, PHEV and HEVs. The global oil pump for automotive market is expected to grow at a CAGR of more than 3.5% during the forecast period, 2018 – 2026.

Oil Pump for Automotive Market has been segmented as follows:

Global Oil Pump for Automotive Market, by Displacement Type
Fixed Displacement Type
Variable Displacement Type
Global Oil Pump for Automotive Market, by Pump Type
Electric Oil Pump
Mechanical Oil Pump
Global Oil Pump for Automotive, by Lubrication System
Wet Sump Lubrication
Dry Sump Lubrication
Global Oil Pump for Automotive, by Discharge Type
Gear Pump
Gerotor
Vane Pump
Others
Global Oil Pump for Automotive, by Vehicle
Passenger Vehicle
Commercial Vehicle
Global Oil Pump for Automotive, by Sales Channel
OEM
Aftermarket
Global Oil Pump for Automotive Market for, By Region/Country/Sub-region
North America
Europe
Asia Pacific
Middle East & Africa
Latin America

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This release was published on openPR.