According to Technavio’s latest market research study, the global automotive oil pumps market is expected to grow at a CAGR of more than 4% during the forecast period, 2017-2021.
This report by Technavio provides an in-depth analysis of the global automotive oil pumps market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the application type
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The top three revenue contributing product segments are discussed below
Global automotive oil pump market in the passenger cars segment: The increasing demand for technologically advanced and fuel-efficient vehicles is prompting OEMs in the market to equip their passenger cars with variable displacement oil pumps, leading to the growth of the market. For instance, since 2011, General Motors has been using variable displacement oil pumps in its Chevrolet Cruze’s Ecotec 1.4L turbocharged engine for increasing fuel efficiency. Technavio’s market research analysts estimate the global automotive oil pump market in the passenger cars segment to account for around almost USD 81 million by 2021.
“Due to the increasing customer preference for fuel-efficient engines in the passenger cars segment, OEMs are developing power-efficient oil circulatory pumps to decrease energy consumption. The demand for automotive oil pumps depends on the sales of passenger cars as all the passenger vehicles are equipped with oil pumps,” says Siddharth Jaiswal, a lead analyst at Technavio for research on automotive components.
Global automotive oil pump market in LCVs segment: LCVs are mainly used for facilitating last-mile connectivity over a limited region or area, such as a city, for the transportation and distribution of goods, especially in stop-and-go traffic, light construction, and municipal applications. The increase in construction and inter-city activities involving transportation of man and materials drive the LCVs market, which is translating to an increase in the demand for automotive oil pumps.
Global automotive oil pump market in M&HCVs segment: The growth of the automotive pump market in the M&HCVs segment is driven primarily by the incorporation of oil pumps by OEMs in their commercial vehicles to comply with the stringent emission regulations formulated by the European Commission and the USEPA (United States Environment Protection Agency). The rising preference for transporting freight through roadways is driving the sales of M&HCVs, leading to an increase in the demand for automotive oil pumps.
The top vendors operating in the global automotive oil pump market are:
- DENSO
- Robert Bosch
- AISIN SEIKI
Other prominent vendors in the market include Johnson Electric, Magna International, Delphi Automotive, and Rheinmetall Automotive.
A more detailed analysis is available in the Technavio report titled, ‘Global Oil Pump Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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