PUBLISHER: The Business Research Company | PRODUCT CODE: 1409231
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409231
“Automotive Oil Pump Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automotive oil pump market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automotive oil pump? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The automotive oil pump market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
An automotive oil pump serves as a mechanical apparatus responsible for circulating oil throughout an engine's moving parts, including bearings, camshafts, and pistons, to minimize friction and prevent wear. Its primary function involves circulating oil for engine lubrication while elevating oil pressure within the lubrication system, thereby generating the necessary pressure to propel oil through the engine's chambers and passages.
The primary discharge types of automotive oil pumps encompass gear pumps, gerotor, vane pumps, and other discharge types such as plunger pumps. Positive displacement pumps with fixed displacement specifically denote pumps where the displacement (measured in gallons per minute) remains unchangeable, except by altering the pump's drive speed. These pumps come in various displacement types, including fixed displacement and variable displacement. They are utilized across diverse vehicle categories such as passenger vehicles, light commercial vehicles, heavy commercial vehicles, buses and coaches, and off-road vehicles. Furthermore, they cater to varied lubrication systems such as wet sump lubrication and dry sump lubrication. Automotive oil pumps are available through diverse sales channels, including original equipment manufacturers (OEMs) and the aftermarket sector.
The automotive oil pump market research report is one of a series of new reports from The Business Research Company 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.
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 observed during the historic period in the automotive oil pump industry can be mainly attributed to several factors. These factors include increasing demands for engine efficiency, compliance with stringent emission standards, advancements in materials and manufacturing techniques facilitating improved pump efficiency, emphasis on vehicle weight reduction to enhance overall performance, and the overall expansion of global automotive production, which drove the demand for these components.
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 anticipated growth in the forecast period for the automotive oil pump industry is expected to be influenced by several factors. These include the integration of cooling systems within vehicles, the implementation of stricter fuel economy standards driving the need for more efficient components, an increased emphasis on electric powertrains impacting the design of these pumps, a focus on supply chain resilience, and the ongoing trends in electric vehicles. Major trends projected in this period encompass the integration of sensors and smart technologies to enhance pump performance, the utilization of lightweight materials and optimized designs to improve efficiency, the adoption of advanced manufacturing techniques for enhanced production processes, the continued advancement and adoption of hybrid and electric vehicle technologies, and overall efficiency improvements across the automotive oil pump sector.
The automotive oil pump market is poised for growth, driven by the rapid increase in vehicle production. Vehicle production, encompassing automobiles and light trucks/utility vehicles, is witnessing a notable surge. Automotive oil pumps play a crucial role in this landscape, pressurizing fluids to protect engine components from frictional wear and overheating. This lubrication process enhances the overall efficiency and longevity of vehicles. Notably, in 2021, global motor vehicle production reached 79.1 million units, reflecting a 1.3% increase from the previous year. Additionally, the growing adoption of electric vehicles, with consumers spending USD 120 billion on electric vehicle purchases in 2020, contributes to the increasing demand for automotive oil pumps.
The automotive oil pump market is set to experience growth fueled by the rising demand for fuel-efficient vehicles. Fuel-efficient vehicles, designed to optimize fuel utilization and reduce consumption, benefit from advanced automotive oil pumps. These pumps play a pivotal role in enhancing fuel efficiency by ensuring optimal oil lubrication and performance. Notably, the International Energy Agency reported substantial growth in the electric car market, with electric vehicle sales surpassing 10 million units in 2022. The increasing preference for fuel-efficient vehicles, reflected in the rising share of electric cars, is a key driver propelling the automotive oil pump market.
In the realm of the automotive oil pump market, technological advancements are emerging as a prominent trend. Major companies in this sector are directing their efforts towards developing innovative products to maintain a competitive edge. A noteworthy example is Toyoda Gosei Co. Ltd., a Japan-based manufacturer of rubber and plastic automotive components, which introduced a lighter-weight oil pump in January 2022. Leveraging precision plastic molding technology, a core innovation, the company crafted gears and other oil pump components from plastic, resulting in a significant 30% reduction in the oil pump's weight. This focus on technological advancements underscores the commitment of key players to enhance product performance and sustainability in the automotive oil pump market.
In the dynamic landscape of the automotive oil pump market, major companies are strategically incorporating innovative technologies to fortify their market positions. A notable example of this trend is the adoption of electric oil pumps, also referred to as electric oil transfer pumps or electric lubrication pumps. These cutting-edge devices play a pivotal role in circulating oil or lubricants across diverse automotive and industrial applications. Demonstrating this commitment to innovation, Nidec Power Train Systems Corporation, a prominent Japan-based automotive parts manufacturer, introduced a groundbreaking electric oil pump in October 2023. This electric oil pump is designed to cool the e-axle of the EV Traction Motor System. Distinguished by its integration of a motor and pump manufactured in-house, the pump leverages advanced component production technology to ensure high quality while streamlining mechanical fastening processes and electrical connections. Engineered for enhanced cooling efficiency, this pump directly cools the motor, contributing to achieving a smaller and lighter traction motor in electric vehicles.
In January 2022, Hopkins Manufacturing Corporation, a leading US-based provider of automotive industry components and parts, made a significant move by acquiring Lumax LLC. This strategic acquisition aims to bolster Hopkins' position as an industry leader in fluid management products by incorporating grease guns and related products into its market-leading fluid management business. Lumax LLC, the US-based manufacturer of automotive oil pumps, became an integral part of Hopkins Manufacturing Corporation through this acquisition, contributing to the expansion and diversification of its product portfolio. The adoption of innovative technologies and strategic acquisitions reflects the commitment of major companies to stay at the forefront of the automotive oil pump market.
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 .
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 countries covered in the automotive oil pump market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
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.
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.