Global Automotive Oil Pump Market 2017-2021
About Automotive Oil Pump
An automotive oil pump is an equipment used to pump pressurized oil through the internal components of an ICE (internal combustion engine) for removing heat (generated by the rotation of small moving parts) and lubricating the components for smooth movement. The device circulates oil through the camshaft, sliding pistons, and the rotating bearings. Automotive oil pumps are used in passenger cars, LCVs (light commercial vehicles), and M&HCVs (medium and heavy commercial vehicles).
Technavio’s analysts forecast the global automotive oil pump market to grow at a CAGR of 4.31% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive oil pump market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive Oil Pump Market 2017-2021
Technavio recognizes the following companies as the key players in the global automotive oil pump market: DENSO, Robert Bosch, and AISIN SEIKI.
Other Prominent Vendors in the market are: Johnson Electric, Magna International, Delphi Automotive, and Rheinmetall Automotive.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is emergence of variable displacement oil pumps. Due to stringent emission regulations and consumer preference for fuel efficiency, automakers critically examine the internal working of the existing automotive system. Vehicle manufacturers focus on improving fuel economy by increasing the efficiency of the internal vehicular components.”
According to the report, one driver in market is low penetration of passenger cars in emerging countries. The sales of automotive oil pumps are highly correlated with the growth in the passenger cars market as all the passenger cars are equipped with automotive oil pumps. Compared with other regions, the penetration of cars in APAC is low, which makes it a favorable market for car OEMs. In 2016, India had one of the lowest car penetrations in the world of about 15 cars per 1,000 people. In the same year, China had a penetration of about 60 cars per 1,000 people and Brazil had 203 cars per 1,000 people. The developed countries, such as the US, recorded a car penetration of about 800 cars per 1,000 people. The decreased penetration of cars in emerging countries offers ample opportunities for car OEMs to start their business in APAC. The automotive industry is expected to grow in emerging countries like China, India, Brazil, South Korea, Indonesia, and parts of eastern Europe.
Further, the report states that one challenges in market is increasing support from government bodies for green mobility. The increasing vehicular pollution and fluctuating fuel prices are driving the EVs (electric vehicles) market. In 2015, the world pollution levels increased by about 10%. The fast-growing cities of emerging countries are among the worst affected by pollution. Air pollution adversely affects humans and an increasing number of people are exposed to harmful air. India has the highest levels of ultra-fine particulate levels of less than 2.5 microns. Around 16 of the 30 most polluted cities in the world are in India. Countries across the world are undertaking initiatives to increase the number of EV charging stations and providing subsidies for customers purchasing EVs. China is investing in developing infrastructure (charging stations) to encourage the use of EVs
DENSO, Robert Bosch, AISIN SEIKI, Johnson Electric, Magna International, Delphi Automotive, and Rheinmetall Automotive.
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