The global automotive oil pump market is experiencing growth due
to several factors such as rise in automotive industry, increase in
industrialization, infrastructure development, and technological
advancement.
PORTLAND, Ore., Aug. 9, 2024 /PRNewswire/ -- Allied Market
Research published a report, titled, "Automobile Oil
Pump Market by Type (Positive Displacement Oil Pumps,
Centrifugal Oil Pumps, Gear Oil Pumps, Vane Oil Pumps, Rotor Oil
Pumps, Axial Piston Oil Pumps, and Others) , Application (Passenger
Cars, Commercial Vehicles, Industries Machinery, Aerospace, Oil and
Gas, Power Generation, Marline, and Others) , and End-user Industry
(Automotive OEMs, Automotive Aftermarket, Industrial Manufacturing,
Oil and Gas Exploration and Production, Aerospace OEMs, Power
Generation Plants, Marine Industry, and Others): Global Opportunity
Analysis and Industry Forecast, 2024-2033". 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.
Prime determinants of growth
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.
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Forecast 2033:
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Report Coverage & Details:
Report
Coverage
|
Details
|
Forecast
Period
|
2024–2033
|
Base
Year
|
2023
|
Market Size in
2022
|
$18.5
billion
|
Market Size in
2032
|
$28.0
billion
|
CAGR
|
4.5 %
|
No. of Pages in
Report
|
488
|
Segments
Covered
|
Type, Application,
End-User Industry and Region.
|
Drivers
|
Rise in automotive
industry
|
Increase in
industrialization and infrastructure development
|
Technological
advancement
|
Opportunities
|
Ongoing urbanization
and infrastructure projects
|
Restraint
|
High initial investment
cost
|
Volatility in oil
prices
|
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Tables, and Figures):
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Segment Highlights
The centrifugal oil pumps segment is expected to grow faster
throughout the forecast period.
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.
The oil and gas segment is expected to grow faster throughout
the forecast period.
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.
The automotive aftermarket segment is expected to grow faster
throughout the forecast period.
The automotive aftermarket segment is anticipated to experience
faster growth in the oil pump market due to wide range of products
and services aimed at maintaining, repairing, and upgrading
vehicles after they have been sold. Oil pumps are essential
components of internal combustion engines, requiring periodic
maintenance, repair, or replacement to ensure proper lubrication
and engine performance. As vehicles age and accumulate mileage, the
demand for oil pump replacement and aftermarket services increases,
driving growth in the automotive aftermarket segment of the oil
pumps market.
Asia-Pacific to maintain its
dominance by 2032
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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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 report provides a detailed analysis of these key players in
the global oil pump market. These players have adopted different
strategies such as new product launches, collaborations, expansion,
joint ventures, agreements, and others to increase their market
share and maintain dominant shares in different regions. The report
is valuable in highlighting business performance, operating
segments, product portfolio, and strategic moves of market players
to showcase the competitive scenario.
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.
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