Press release
Automobile Oil Pump Market to Hit $28.0 Billion Globally by 2033, Fueled by Advancements in Engine Tech
Automobile Oil Pump Market
The oil pump market is closely tied to the automotive industry, as oil pumps are essential components in internal combustion engines. As automotive production and sales increase globally, particularly in emerging markets like China and India, the demand for oil pumps rises correspondingly. Furthermore, with a growing focus on fuel efficiency and emissions reduction, there's an increasing demand for oil pumps that can deliver oil to engine components with higher precision and efficiency. Advanced oil pump technologies, such as variable displacement pumps, are being developed to meet these demands. Continuous innovation in oil pump design and manufacturing processes leads to the development of more efficient, durable, and lightweight pumps. These advancements improve engine performance, reduce maintenance requirements, and enhance overall vehicle efficiency, thus driving market growth.
According to the report, the automobile oil pump market was valued at $18.5 billion in 2023, and is estimated to reach $28.0 billion by 2033, growing at a CAGR of 4.5% from 2024 to 2033.
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Recent Development:
In February 2022, Moroso Performance Product, based in the U.S., introduced an external, single-stage oil pump with reverse rotation and a fuel pump drive. The new reverse rotation pump is situated toward the front of the car on a mounting bracket resembling the left side door on a car. It has internal pumps for simplicity of adjustment and an exterior pump that operates cooler.
In January 2022, Toyoda Gosei Co, Ltd., a Japan-based maker of plastic and rubber automobiles, created a lightweight oil pump by fabricating a few parts of the pump out of a plastic rather than metal. The business used its special precision molding technology to create plastic oil pump gears and other modules. This has helped reduce the weight of the pump by about 30%. The pump is expected to be utilized on the hybrid Noah and Voxy models that Toyota Motor has created.
In February 2024, China Southern Airlines and Lufthansa Technik have inked an exclusive eight-year contract, focusing on technical support for the Oil Pump within the Chinese carrier's A350 fleet, totaling 20 aircraft. Under this long-term agreement, Lufthansa Technik will deliver comprehensive maintenance, repair, and overhaul (MRO) services for the Honeywell HGT1700 in the company's dedicated APU workshops situated in Hamburg, Germany.
January 2021, Sichuan Airlines has chosen Honeywell's 131-9A Oil Pump for its A320 fleet, marking a significant five-year agreement. Under this deal, Honeywell will supply the 131-9A APU for Sichuan Airline's upcoming 93 new A320 aircraft, set to be operational by 2025.
The centrifugal oil pumps segment is anticipated to experience faster growth in the oil pump market due to their adaptability. Centrifugal oil pumps find employment in a wide range of sectors and settings, including power generation, oil and gas, automotive, industrial, and marine. They are widely used because of their adaptability to a variety of applications and their capacity to handle a wide range of fluids at various flow rates and pressures. Centrifugal oil pumps are known for their high efficiency in transferring fluids. They utilize rotating impellers to create centrifugal force, which propels the fluid outward, generating pressure and flow. This design results in efficient fluid transfer with minimal energy losses, making centrifugal pumps attractive for applications where energy efficiency is paramount.
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The oil and gas segment is anticipated to experience faster growth in the oil pump market owing to oil pumps are essential to the oil and gas sector for a number of vital processes, such as the extraction, distribution, transportation, and refining of crude oil. Oil pumps allow fluid circulation, maintain pressure, and guarantee effective operations throughout the production and refining processes in drilling rigs, producing wells, pipelines, and refineries. The oil and gas sector operates on a massive scale, with extensive infrastructure comprising drilling rigs, offshore platforms, pipelines, storage tanks, and refineries. These facilities require numerous oil pumps of various types and capacities to handle the vast volumes of crude oil, natural gas, and petroleum products involved in exploration, production, and processing activities.
Key Players
Aisin Seiki Co., Ltd.
Continental AG
BorgWarner Inc
Denso Corporation
Honeywell International Inc.
Johnson Electric Holdings Limited
Magna International Inc.
MAHLE GmbH
Robert Bosch GmbH
SHW AG
The Asia-Pacific region, particularly countries like China and India, has been undergoing rapid industrialization and urbanization, leading to increased demand for automobiles and machinery. This surge in industrial activity and infrastructure development drives the demand for oil pumps used in various applications such as automotive engines, industrial machinery, and construction equipment.
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By Type
Positive Displacement Oil Pumps
Centrifugal Oil Pumps
Gear Oil Pumps
Vane Oil Pumps
Rotor Oil Pumps
Axial Piston Oil Pumps
Others
Frequently Asked Questions?
Q1. What are the upcoming trends of Automobile Oil Pump Market in the globe?
Q2. What is the leading application of Automobile Oil Pump Market?
Q3. Which is the largest regional market for Automobile Oil Pump?
Q4. What is the estimated industry size of Automobile Oil Pump?
Q5. Which are the top companies to hold the market share in Automobile Oil Pump?
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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