Global Automotive Oil Pumps Market
Dublin, Oct. 20, 2023 (GLOBE NEWSWIRE) -- The "Automotive Oil Pump Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering. 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 automotive oil pumps market is expected to reach $22.50 billion in 2027 at a CAGR of 5.3%. 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. Air Lubrication System
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.
Technological advancements are a prominent trend gaining traction in the automotive oil pump market. Leading companies operating in this market are placing a strong emphasis on the development of innovative products to maintain their competitive edge.
For example, in January 2022, Toyoda Gosei Co. Ltd., a Japanese manufacturer specializing in rubber and plastic automotive components, introduced a lighter-weight oil pump. This innovative oil pump leverages precision plastic molding technology, a core component, to create gears and other oil pump elements from plastic, resulting in a remarkable 30% reduction in weight.
In another significant development in January 2022, the US-based Hopkins Manufacturing Corporation, a prominent supplier of automotive industry components and parts, acquired Lumax LLC, further solidifying its position as a leader in fluid management products. With this acquisition, Hopkins expands its already leading fluid management business by adding grease guns and related products to its portfolio. Lumax LLC, the acquired company, specializes in the manufacture of automotive oil pumps.
The rapid increase in vehicle production is expected to be a driving force behind the growth of the automotive oil pump market. Vehicle production encompasses the manufacturing of automobiles, as well as light trucks and utility vehicles. Automotive oil pumps play a vital role in pressurizing fluids, safeguarding engine components from frictional wear and overheating by providing lubrication at the appropriate pressures. This, in turn, fuels the demand for automotive oil pumps as vehicle production continues to rise.
For instance, in April 2022, the European Automobile Manufacturers Association reported that global motor vehicle production reached 79.1 million units in 2021, marking a 1.3% increase over the previous year. Additionally, the Global EV Outlook 2021 highlighted a significant surge in consumer spending on electric vehicle purchases, with USD 120 billion expended in 2020, representing a 50% increase compared to 2019. Consequently, the growing adoption of electric vehicles is contributing to the expansion of the automotive oil pump market.
Asia Pacific emerged as the largest region in the automotive oil pump market in 2022. The report covers a wide range of regions, including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries featured in the automotive oil pump market report encompass Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Major players in the automotive oil pump market are
Aisin World Corp. of America
Brose vehicle parts SE & Co.
Estimated Market Value (USD) in 2023
Forecasted Market Value (USD) by 2027
Key Topics Covered: 1. Executive Summary 2. Automotive Oil Pump Market Characteristics 3. Automotive Oil Pump Market Trends And Strategies 4. Automotive Oil Pump Market - Macro Economic Scenario 4.1. COVID-19 Impact On Automotive Oil Pump Market 4.2. Ukraine-Russia War Impact On Automotive Oil Pump Market 4.3. Impact Of High Inflation On Automotive Oil Pump Market 5. Automotive Oil Pump Market Size And Growth 5.1. Global Automotive Oil Pump Historic Market, 2017-2022, $ Billion 5.1.1. Drivers Of The Market 5.1.2. Restraints On The Market 5.2. Global Automotive Oil Pump Forecast Market, 2022-2027F, 2032F, $ Billion 5.2.1. Drivers Of The Market 5.2.2. Restraints On the Market 6. Automotive Oil Pump Market Segmentation 6.1. Global Automotive Oil Pump Market, Segmentation By Discharge Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
6.2. Global Automotive Oil Pump Market, Segmentation By Displacement Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
6.3. Global Automotive Oil Pump Market, Segmentation By Vehicle Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
6.4. Global Automotive Oil Pump Market, Segmentation By Lubrication System, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
6.5. Global Automotive Oil Pump Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7. Automotive Oil Pump Market Regional And Country Analysis 7.1. Global Automotive Oil Pump Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion 7.2. Global Automotive Oil Pump Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
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Lubrication Pump Global Automotive Oil Pumps Market