Press release
Automotive Oil Pump Market Size, Share, Trend Analysis, Segmentation And Forecast To 2033
Automotive Oil Pump Market
Automotive Oil Pump Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $23.87 billion In 2028 At A CAGR Of 5.8%.
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.
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Automotive Oil Pump Market Major Segments
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
Key Driver - Surge In Vehicle Production Ignites Expansion Of The Automotive Oil Pump Market
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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Prominent Trend - Automotive Oil Pump Market Embraces Technological Advancements For Enhanced Performance
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%.
Automotive Oil Pump Market Players
Major companies operating in the automotive oil pump market report are Denso Corporation, The FTE automotive Group, Johnson Electric Holdings Limited., Magna International Inc., Nidec Corporation, Rheinmetall AG, Aisin Seiki Co. Ltd., ZF Friedrichshafen AG, Hitachi Astemo Americas Inc., Mitsubishi Electric Corporation, Robert Bosch GmbH, BorgWarner Inc., Brose Fahrzeugteile GmbH & Co. KG, HUSCO International Inc., Ningbo Shenglong Automotive Powertrain System Co.Ltd., TRW Automotive Holdings Corp., Fuxin Dare Automotive Parts Co Ltd., MAHLE GmbH, Stackpole International Inc., Magneti Marelli S.p.A., Shenglong Group, Bosch GmbH, Delphi Technologies PLC, Hunan Oil Pump Co., Melling Engine Parts, Hirschvogel Automotive Group, Wuxi Tsang Yow Auto Parts Co.Ltd., Toyo Advanced Technologies Co.Ltd., Pierburg GmbH, Flowserve Corporation .
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Largest And Fastest Growing Region In The Market
Asia Pacific was the largest region in the automotive oil pump market in 2023. The regions covered in the automotive oil pump market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Automotive Oil Pump Market Report Structure
3. Automotive Oil Pump Market Trends And Strategies
4. Automotive Oil Pump Market - Macro Economic Scenario
5. Automotive Oil Pump Market Size And Growth
…..
27. Automotive Oil Pump Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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