Major players in the automotive oil pump market are Denso Corporation, FTE Automotive, Johnson Electric Holdings Limited., Magna International Inc., Nidec Corporation, Rheinmetall AG, Aisin, ZF Friedrichshafen AG, Hitachi Astemo Americas Inc., Mitsubishi Electric Corporation, Robert Bosch GmbH, BorgWarner Inc., Aisin World Corp. of America, Brose Fahrzeugteile SE & Co., and Husco International.
The global automotive oil pumps market is expected to grow from $17.27 billion in 2022 to $18.28 billion in 2023 at a compound annual growth rate (CAGR) of 5.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive oil pumps market is expected to reach $22.50 billion in 2027 at a CAGR of 5.3%.
The automotive oil pump market consists of sales of rotor oil pumps, front-cover oil pumps, centrifugal pumps, and other related products.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
An automotive oil pump is a mechanical device that circulates oil to the moving elements of an engine, such as the bearings, camshafts, and pistons, to reduce wear and tear.This is used to circulate oil for engine lubrication and increase oil pressure in the lubrication system.
It produces the pressure that propels oil through the engine’s chambers and passageways.
Asia Paciofic was the largest region in the automotive oil pump market in 2022. The regions covered in automotive oil pump report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main discharge types of automotive oil pumps are gear pumps, gerotor, vane pumps, and other discharge types (plunger pumps).Positive displacement pumps with fixed displacement refer to those whose displacement (in gpm) can only be changed by varying the pump’s drive speed.
The various displacement types include fixed displacement and variable displacement.The various vehicle types include passenger vehicles, light commercial vehicles, heavy commercial vehicles, buses and coaches, and off-road vehicles.
The various lubrication systems include wet sump lubrication and dry sump lubrication. These are sold through various sales channels such as original equipment manufacturer(OEM), and aftermarket.
The rapid increase in vehicle prodcution 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 vehicles production, thus increasing the demand for the automotive oil pump market.
For instance, in April 2022, In a report published by 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.
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%.
In January 2022, Hopkins Manufacturing Corporation, a US-based provider of automotive industry components and parts, acquired Lumax LLC for an undisclosed amount.The acquisition reinforces Hopkins’ position as the industry leader in fluid management products with the addition of grease guns and related products to its market-leading fluid management business.
Lumax LLC is a US-based manufacturer of automotive oil pumps.
The countries covered in the automotive oil pump market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The automotive oil pump market research report is one of a series of new reports that provides automotive oil pump market statistics, including automotive oil pump industry global market size, regional shares, competitors with an automotive oil pump market share, detailed automotive oil pump market segments, market trends, and opportunities, and any further data you may need to thrive in the automotive oil pump industry. This automotive oil pump market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.