Press release
Global Transmission Oil Pump Market Top Leading Players with Strategies and Forecast 2028
The global transmission oil pump market is anticipated to grow at a considerable CAGR during the forecast period (2022-2028). A transmission oil pump is an automobile component placed in the engine of motor vehicles. The transmission oil pump supports the smooth running of the engine by supplying oil to the hydraulic actuator, torque converter, and other components for proper lubrication. The major factor attributing to the growth of the global transmission oil pump market includes the increasing installation of oil pumps in motor vehicles due to the increasing number of motor vehicle production across the globe. According to the 2021 Production Statistics report published by the International Organization of Motor Vehicle Manufacturers (OICA), around 80 million motor vehicles were produced across the globe in 2021. Among these, around 23 million commercial vehicles were manufactured and around 57 million passenger cars were produced in 2021. Thus, increasing the demand for transmission oil pumps.Another factor increasing the application of transmission oil pumps for motor vehicles is the several benefits provided by them, including around 3% to 4% reduction of overall CO2 emission of vehicles, as per the Driving Cycle and Control Strategy. In the automatic type of transmission, the pumps offers huge benefits in terms of variable shifting and control strategies resulting in improved fuel efficiency. Thus, contributing to the growth of the global transmission oil pump market.
The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instances
In June 2019, Ohio Transmission Corp., an America-based distributor and service provider acquired the Furey Filter & Pump Inc. with its subsidiary PSI Engineering LLC. This acquisition will support Ohio Transmission Corp. in expanding its pump, filtration, service, and fabrication business.
In April 2022, Trillium Flow Technologies announced the acquisition of Termomeccanica Pompe, a provider of highly engineered vertical turbine and split case pumps for application in water transmission, power generations, and others. This acquisition will benefit Trillium to provide an extensive range of complementary pumping solutions due to the addition of Termomeccanica Pompe's products.
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Market Coverage
The market number available for - 2021-2028
Base year- 2021
Forecast period- 2022-2028
Segment Covered-
By Type
By Application
Regions Covered-
North America
Europe
Asia-Pacific
Rest of the World
Competitive Landscape- Magna International Inc., Robert Bosch GmbH, Continental AG, Nidec Corp., and MAHLE GmbH, among others.
A full report is available at: https://orionmarketreports.com/global-transmission-oil-pump-market/109407/
Global Transmission Oil Pump Market Report by Segment
By Type
Fixed Displacement Pumps
Variable Displacement Pumps
By Application
Passenger Cars
Commercial vehicles
Key questions addressed by the report
What is the market growth rate?
Which segment and region dominate the market in the base year?
Which segment and region will project the fastest growth in the market?
How has COVID-19 impacted the market?
Deviation from the pre-COVID-19 forecast
Most affected region and segment
Who is the leader in the market?
How players are addressing challenges to sustain growth?
Where is the investment opportunity?
Media Contact:
Company Name: Orion Market Reports
Contact Person: Mr. Anurag Tiwari
Email: info@orionmarketreports.com
Contact no: +91 780-304-0404
About Us:
Orion Market Reports (OMR) endeavors to provide exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.
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