Global Automotive oil pump Market is valued at approximately USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. As per recent trends in the automotive industry, engine downsizing is becoming a popular practice. This is achieved by using advanced technologies such as turbochargers, superchargers, and direct injection technology. Automakers are now focusing on smaller engines that can deliver power equal to or greater than larger engines. This helps to reduce vehicle weight and improve fuel efficiency, as seen in the case of Mercedes-Benz and BMW cars that are now equipped with 4-cylinder engines instead of 6-cylinder engines. This downsizing trend is also driven by the need to meet government emission regulations. In the coming years, the automotive fuel injection pump market is expected to benefit from the growing demand for downsized engines and present new business opportunities.
In recent years, the global automotive industry has witnessed several positive trends that had a significant impact on the market for automotive oil pumps. Firstly, in 2021, there was a notable increase of 8% in the production volume of light commercial vehicles (LCVs) worldwide, while passenger car production experienced a 2% growth. This overall rise in automobile production has led to an increased usage of automotive parts and components, including oil pumps. Furthermore, the automotive industry has been experiencing a rapid pace of advancements and innovation, accompanied by the need to upgrade vehicles. This has created substantial market opportunities for automakers and manufacturers of automotive oil pumps. As new technologies and features are introduced in vehicles, the demand for efficient oil pumps to support these advancements is expected to grow.
Another important factor driving the market for automotive oil pumps is the enforcement of stringent emission standards in developed and densely populated areas with strict pollution regulations. These standards require vehicles to have efficient oil circulation systems to minimize emissions. Additionally, the availability of cheaper batteries and the expansion of charging infrastructure have contributed to the increased adoption of electric vehicles (including hybrid, plug-in, and battery electric vehicles). As the demand for electric vehicles grows, the need for oil pumps in these vehicles, albeit in a different capacity, is expected to expand as well.
The key regions considered for the Global Automotive oil pump Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. The Asia Pacific region is projected to emerge as the largest market for automotive oil pumps by 2027. This region encompasses rapidly developing economies such as China and India, where the growing purchasing power of consumers has significantly increased the demand for automobiles. The Asia Pacific region already holds the title of the largest market for automotive vehicles, and this sustained demand for vehicles is driving the growth of the automotive oil pump market in the region. In recent years, there has been a notable increase in the sales of both commercial vehicles and passenger cars in the Asia Pacific region. This growth in vehicle sales further fuels the demand for automotive oil pumps, as these vehicles require efficient oil circulation systems to ensure optimal performance and comply with emission regulations. The concerns surrounding ecological imbalances caused by vehicle emissions have particularly intensified in countries like India, China, Malaysia, and Thailand. As a result, major vehicle manufacturers in these countries have shifted their focus towards developing low fuel-consuming vehicles, which in turn increases the demand for advanced oil pump technologies.
Major market player included in this report are:
HUSCO Automotive, LLC
Magna Powertrain, Inc.
Mikuni American Corporation
Recent Developments in the Market:
Ø In February 2022, Moroso Performance Products, a U.S.-based company, introduced a new external, single-stage oil pump with reverse rotation and a fuel pump drive. This innovative pump design is positioned at the front of the car on a mounting bracket that resembles the left side door of a car. It incorporates internal pumps for ease of adjustment and features an exterior pump that operates at a cooler temperature, improving overall efficiency.
Ø In January 2022, Toyoda Gosei Co., Ltd., a Japanese manufacturer of plastic and rubber automotive components, developed a lightweight oil pump by utilizing plastic materials instead of metal for certain pump parts. Leveraging its precision molding technology, the company successfully created plastic oil pump gears and other modules. This adoption of plastic components helped achieve a weight reduction of approximately 30% in the pump. The lightweight oil pump is expected to be utilized in Toyota Motor’s hybrid Noah and Voxy models, showcasing the benefits of reduced weight and improved efficiency.
Global Automotive oil pump Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Application, Vehicle Type, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Electric Oil Pump
Mechanical Oil Pump
By Vehicle Type:
Light Commercial Vehicles
Heavy Commercial Vehicles
Buses & Coaches
Middle East & Africa
Rest of Middle East & Africa