Oil Pump Market for Automotive Industry: Asia Pacific Remains Key to Growth

A new research study highlighting the developments in oil pump for automotive market has been added to the comprehensive repository of Market Research Reports Search Engine (MRRSE). According to the study, the oil pump for automotive market is likely to witness a moderate CAGR during the assessment period 2018-2026. In terms of revenues, the market is likely to reach a valuation of nearly US$ 19 Bn. The research study titled “Oil Pump Market For Automotive Industry – Global Industry Analysis, Size, Share, Growth, Trends, And Forecast 2018 – 2026” is a comprehensive source of information and analysis on the oil pump for automotive market.

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According to the report, steady growth in the automotive industry, especially in Asia Pacific and North America is likely to provide an impetus to growth during the assessment period. The steadiness in the automotive industry is likely to provide an impetus to growth, however, the pace of growth is likely to remain sluggish during the assessment period.

The sluggishness in the market can also be attributed to the significant rise in electric vehicles around the globe. There has been a steady shift towards electric vehicle segment, and electrification has led to decline in the need for oil pumps. According to the study, the growing popularity of oil pumps can impede the growth of the market during the assessment period.

In a bid to offer readers detailed insights on the oil pump for automotive market, the report has segmented the market on the basis of displacement type, pump type, lubrication system, discharge segment, vehicle segment, sales channel, and region. By pump type, market forecast and analysis has been offered on electric oil pump and mechanical oil pump. The key lubrication system segments profiled in the report include wet sump lubrication and dry sump lubrication. The key discharge segments include gear pumps, gerotor, and vane pumps. The key vehicle type segments include passenger vehicle and commercial vehicle. On the basis of sales channel, the key types include OEM and aftermarket.

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According to the report, Asia Pacific will remain one of the leading markets for oil pump market during the assessment period. The demand for oil pumps in Asia Pacific can be attributed to the pervasive automotive industry in the region. China and India are among the most prominent markets for automotive industry, and it is likely that growth in these markets will lend a momentum to the market during the assessment period.

The business intelligence study also profiles the business and product strategies of some of the leading players in the market. According to the study, some of the leading players in the market include Delphi Automotive, Aisin Seiki Co. Ltd., Robert Bosch GmbH, Denso Corporation, Johnson Electric, Magna International, MAHLE GmbH, and Rheinmetall Automotive.

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This release was published on openPR.