Composite Oil Pan Market Poised to Expand at a Robust Pace Over 2021-2031

Automobile Manufacturers Focuses on Compact, Lightweight Design for Oil Pans

An engine oil pan is an automotive component with simpler functions. It is also referred to as an oil sump, oil tray, or oil reservoir. The oil pump has a pickup tube that hangs into the pan and sucks up oil. Once used, the engine oil falls back into the pan. Apart from storing the oil, the oil pan also plays an important role in cooling it. When a vehicle moves forward, air flows under the pan, which carries away the heat from the oil. Sometimes, to increase the surface area, cooling fins are fitted on the oil pan. Oil pans can be used for two and four-stroke IC engines. However, the engine part needs to operate properly. As the weight of modern engines are reducing and the need for fuel efficiency has increased, manufacturers are focusing on designing compact engine oil pan. This is most likely to fuel the demand for engine oil pan market for automotive during the forecast period.

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As the oil pan is located near the underbelly of a vehicle, it is subjected to corrosive water, street salts, and abrasion from dust, gravel, and stone impacts, especially on high-carriage and off-road vehicles. However, metal oil pans are heavy, and more likely to rust, dent, feature various subassemblies, and need secondary machining, welding, and painting. Therefore, various materials and composites are used to integrate subcomponents, decrease assembly charges, and roughly halve pan weight in case of increased pressure to increase fuel efficiency and reduce emissions. Furthermore, the demand for automotive products and automobiles is constantly increasing with the rising spending capacity of people across the world, and contributing to the growth of the global engine oil pan market for automotive during the forecast period.

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Halt in Manufacturing and Supply Chain Limits Automotive Production Scales

The outbreak of the COVID-19 pandemic has created an economic situation that is fundamentally different from any previous crisis. In order to contain the spread of the coronavirus, governments across the world implemented lockdowns and strict regulations for supply chain and international trade. This has impacted various industries and the nationwide economy, with limitations on full-scale working. Globally, people with vehicles delayed inspections and optional repairs, and some government transport businesses rested their deadlines for obligatory technical controls and inspections. Users with lower wages also halted avoidable repairs. These changes in consumer behavior had dramatically decreased visits to garages, service stations, and repair workshops, even though these businesses were typically allowed to remain open in some nations and can still easily receive parts from distributors. This has deeply impacted the demand for the engine oil pan market for automotive. However, lightweight engine vehicle parts have typically been the most recession-resistant part of the automotive industry. The economic pressure on the vehicle users forced them to delay the vehicle purchases, which limited the demand for new production, thus, hampering the scope of growth of engine oil pans.

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Presently, various consumers and manufacturers have migrated to eCommerce for parts purchases, and this trend may persist. In response, market players are likely to offer Omni channel models alike those of retailers with the ability to make engine oil pan purchases online and then make a quick pick up. The enhanced affinity for online purchases may create an emerging opportunity for new engine oil pan manufacturers during the post-COVID-19 period. Some potential improvements such as government incentive packages and increasing refurbished car markets could have a positive and stabilizing influence. However, even though with hopeful reports on progress toward vaccination drive, numerous risks remain to limit the expansion of the engine oil pan market for automotive.

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Various Materials Used for Different Vehicle Types Boost Global Market

The automotive industry can seem slow to adopt change with the sheer complexity of automotive and the host of mandates they must meet. Although composite materials are starting to replace cast aluminum and stamped steel in engine oil pans. The OEMs that have ventured into this segment are discovering that thermoplastic composites allow better part performance, mass, and cost savings. Depending on the span of engine programs, the per-unit cost profits on medium to high volume programs add up fast for OEMs. Manufacturers focusing on design versatility and components integration for composite materials are resulting in cost savings. Moreover, with several studies, engine oil pan volumes can be raised in the same packaging space, prolonging engine life and reducing oil-change intervals for operators. However, as per the report, the steel engine oil pan continues its form much better than an aluminum engine oil pan and is often salvageable or repairable at the track.

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This release was published on openPR.