What is Global Automotive Oil Pump Market?
The Global Automotive Oil Pump Market is a vast and dynamic sector that plays a crucial role in the automotive industry. It primarily deals with the production, distribution, and sale of oil pumps used in vehicles. These oil pumps are integral components of a vehicle's engine, responsible for circulating oil under pressure to the rotating bearings, the sliding pistons, and the camshafts of the engine. This lubrication process helps to reduce friction and heat, thereby enhancing the engine's efficiency and lifespan. The market's value was estimated to be US$ 4223.1 million in 2022, and it is projected to reach US$ 5388.4 million by 2029. This growth trajectory represents a Compound Annual Growth Rate (CAGR) of 3.5% from 2023 to 2029.
Electric Oil Pump, Mechanical Oil Pump in the Global Automotive Oil Pump Market:
The Global Automotive Oil Pump Market is segmented into Electric Oil Pumps and Mechanical Oil Pumps. Electric Oil Pumps are gaining popularity due to their energy efficiency and the growing trend of electric vehicles. They operate independently of the engine speed, providing optimal lubrication even at low engine speeds. On the other hand, Mechanical Oil Pumps are driven by the engine's crankshaft or camshaft. They are widely used in conventional vehicles due to their reliability and cost-effectiveness. The leading producers in this market are AISIN, Magna, and SHW, which accounted for 15.20%, 9.69%, and 7.83% of the market revenue in 2019, respectively.
Passenger Vehicle, Commercial Vehicle in the Global Automotive Oil Pump Market:
The Global Automotive Oil Pump Market caters to both Passenger Vehicles and Commercial Vehicles. Passenger vehicles, which include cars, SUVs, and minivans, require oil pumps to ensure smooth engine operation and prolong engine life. Commercial vehicles, such as trucks and buses, also rely on oil pumps for efficient engine performance. The demand for oil pumps in these vehicles is driven by the need for regular maintenance and the replacement of worn-out parts. The market's growth is further fueled by the increasing vehicle production and the rising demand for fuel-efficient vehicles.
Global Automotive Oil Pump Market Outlook:
In summary, the Global Automotive Oil Pump Market is a thriving industry with significant growth potential. The market was valued at US$ 4223.1 million in 2022 and is expected to reach US$ 5388.4 million by 2029, growing at a CAGR of 3.5% during the forecast period. The market is dominated by key players such as AISIN, Magna, and SHW, which collectively accounted for a significant portion of the market revenue in 2019. The market serves a wide range of vehicles, including passenger and commercial vehicles, and is driven by the increasing demand for efficient and reliable engine performance.
| Report Metric | Details |
| Report Name | Automotive Oil Pump Market |
| Accounted market size in 2022 | US$ 4223.1 in million |
| Forecasted market size in 2029 | US$ 5388.4 million |
| CAGR | 3.5% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Magna, SHW, AISIN, Mahle, STACKPOLE, Rheinmetall, Shenglong Group, Bosch, Nidec, Hunan Oil Pump, Toyo Advanced Technologies, ZF, Yamada Somboon, Tsang Yow, Fuxin Dare Automotive Parts |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
