The global automotive oil pump market was valued at USD 4.20 Billion in 2021 and is growing at a CAGR of 3.44% YoY, to reach USD 5.40 Billion in 2029.
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LOS ANGELES, CALIFORNIA, USA, March 23, 2023/EINPresswire.com/ —
Automotive Oil Pump Industry Research Market Overview
An automotive oil or lubricant is circulated by an oil pump from the crankcase to the engine’s sliding pistons, rolling bearing and camshaft as part of the engine’s lubrication system. Oil not only acts as a lubricant but also as a cooling agent for the engine and other components. The oil pump is driven by the crankshaft or a rope that acts as an intermediary when placed inside the engine crankcase.
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The need for automotive oil extractor pumps is expected to increase shortly due to the growing popularity of customization. Due to increased competition and changing market dynamics, oil pump modification is becoming increasingly popular among manufacturers. Manufacturers are creating innovative car designs globally thanks to ever-changing consumer demands. Customers can purchase compact pumps, low vibration pumps, brushless fuel pumps and other variable flow oil pumps to suit their needs or specifications.
Market segment and regional analysis
Rising income levels and demand for passenger vehicles are expected to increase the demand for automobiles, which will ultimately drive the automotive oil pump market. Demand for mechanical oil pumps comprised a share of the global market. A typical type of oil pump widely used in cars is the mechanical oil pump.
Electric oil pumps are more expensive; Mechanical oil pumps are simpler, easier to produce and easier to install. They are widely used in vehicles as they are more affordable than electronic oil pumps. Hence, these factors are anticipated to help the growth of the automotive oil pump market shortly.
Asia Pacific dominated the automotive oil pump market in terms of volume, which is expected to continue in the coming years. The steady rise in demand for automobiles is due to growing urbanization, stable economic circumstances, and cheap financing rates. Countries listed are North America, Europe, Asia Pacific, North America, South America, Middle East and Africa.
Major key players in the market
Due to multiple multinational companies, major manufacturers and distributors, the global industry has been defined by intense competition. A considerable number of regional companies are expected to be attracted to the global market. Detailed company profiles of major global players including Magna International Inc., SHW Automotive Holdings Co., Ltd., AISIN SE, Mahle AG, STACKPOLE PLC, Rheinmetall AG, Shenglong Group Company Limited, Bosch Automotive Aftermarket GmbH, Nidec Corporation, Hunan Oil Pump Co., Ltd., Toyo Advanced Technologies Corporation, ZF Friedrichshafen AG, Yamada Somboon Co., Ltd., Tsang Yow Automotive Parts Manufacturing Corp, etc.
Table of Key Market Segments: Automotive Oil Pump Market
The Automotive Oil Pump Market by Type is segmented into:
• Electric oil pump
• Mechanical oil pump
On the basis of Application, the Automotive Oil Pump Market is segmented into:
• Passenger vehicle
• Commercial Vehicle
Others, geographically, the consumption, revenue, market share, growth rate, historical data and forecast of the following regions are studied in detail:
• Asia Pacific
• Europe
• North America
• South America
• Middle East and Africa
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COVID-19, as well as the analysis of the impact of the war between Russia and Ukraine
The COVID-19 outbreak is expected to have a considerable positive effect on the automotive oil pump market. The automotive oil pump market has been disrupted by the COVID-19 outbreak. Sales of vehicle oil pumps have increased as a result of increased demand for petroleum products, especially in emerging countries. As the conflict in Russia and Ukraine positively influences the global supply chains for the Automotive Oil Pump market and the raw material price provider, they have certainly been considered throughout the research.
Major Drivers and Barriers to Automotive Oil Pump Market:
While the production of passenger cars increased by 2% internationally, the volume of light commercial vehicles (LCVs) produced increased by 8% globally. In the same year, sales of all automobiles increased internationally by 5%. The demand for passenger and commercial vehicles is also increasing due to the high pace of innovation and improvement in the automobile industry and the desire to upgrade cars. For car manufacturers and car oil pump suppliers, this is expected to present considerable market prospects. Adoption of electric vehicles (hybrid, plug-in and battery electric) is also expected to increase due to stricter emissions standards in developed and populated areas with strict pollution laws, cheaper batteries and more accessible charging infrastructure . This will increase the demand for oil pumps and drive the growth of the market. To improve the overall efficiency of a vehicle, each unit that uses an oil pump wastes a substantial amount of energy. The demand for oil pumps with lower energy loss has increased as the fuel efficiency of cars has improved. This is expected to propel the expansion of the automotive oil pump market across the globe. Improved fuel efficiency lowers operating expenses, lowers maintenance costs and extends engine life. For example, an increase in petrol prices in India is expected to significantly increase the demand for fuel-efficient cars. Similar increases in fuel prices in other nations inadvertently aid in the decline of oil use.
This increase in demand leads to several drawbacks. To begin with, prices have soared due to the high availability of crude oil and petroleum products. This could affect the profitability of vehicle oil pumps by reducing overall demand. Also, shortage of experienced labor and slow procurement procedures will soon reduce the demand for automotive oil pumps. Strict emission standards and an increase in diesel cars.
In addition, the oil pump market is challenged by the increasing use of hybrid and electric vehicles. Due to the existence of numerous smaller companies, the market is also fragmented. These players find it difficult to compete with more established and well-funded companies with a wider market.
Potential benefits for stakeholders and industry participants:
• Companies in the international automotive oil pump market are concentrating on improving the performance of oil pumps to offer their customers a
the product portfolio that is cutting-edge, innovative, profitable and diverse.
• To ensure safety and reduce the likelihood of any failure or breakdown, automotive oil pump manufacturers also emphasize highly efficient pumps.
It is not affected by various weather conditions and prolonged operation.
• Manufacturers are also taking advantage of smaller opportunities in the automotive oil pump market to increase vehicle efficiency.
Below is the TOC list for the Automotive Oil Pump Market:
• Overview of the report
• Scope and definition of the study
• Research methodology
• Key market segments
• Players Covered: Classification by Automotive Oil Pump Market
• By Type Analysis of Automotive Oil Pump Market
• By Application Analysis of Automotive Oil Pump Market
• Customer service
• Personal assistant
• Customer involvement
• Retention
• Covid-19 and the impact of Russia and Ukraine: global mainstream government policy
• Automotive Oil Pump Market Trends and Growth Strategy
• Automotive Oil Pump Market Player Profiles
• Company Profile of Automotive Oil Pump Market
• Automotive Oil Pumps Market Share by Market Players
• Automotive Oil Pumps Market Share by Market Players
• Automotive Oil Pump Market, Production Forecast by Region
• Automotive Oil Pumps Marketing Channel, Distributors, Customers and Supply Chain
• Points of view/Conclusions of the analyst
• Exemption from liability
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Why is the Automotive Oil Pump Market Research Report so important?
• To assess and project the size of the global automotive oil pump market.
• To project the global automotive oil pump market on the basis of product type, end user and regional distribution.
• To determine the market trends and obstacles for Graphite Heat Exchangers worldwide.
• Analyze competitive developments in the global automotive oil pump market, such as expansions, new product launches, mergers and
acquisitions, etc.
• Conduct a price analysis of the global automotive oil pump market.
• Identify and profile the major companies in the automotive oil pump market globally.
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