Automotive Oil Pump Market Size, Share, and COVID-19 Impact Analysis, By Displacement Type (Fixed Displacement, and Variable Displacement), By Pump Type (Electric Oil Pump and Mechanical Oil Pump), By Lubrication System (Wet Sump Lubrication and Dry Sump Lubrication), By Discharge Type (Gear Pump, Gerotor, Vane Pump, and Others), By Vehicle Type (Passenger Vehicles, Light Commercial Vehicles, Trucks, and Buses & Coaches), and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022-2030
KEY MARKET INSIGHTS
The Global Automotive Oil Pump Market is projected to grow from USD 15.14 billion in 2021 to USD 20.75 billion by 2030 at a CAGR of 4.12% during the forecast period. One of the most crucial components in a vehicle's internal combustion engine is the oil pump. However, fierce competition in the automotive sector has compelled companies in the automotive oil pump market to engage in research and development to obtain a competitive advantage over their competitors. Because the industry is dominated by top-tier businesses, new entrants face tough competition, implying that it may be difficult for start-ups to attract investors. As a result, extensive R&D is emerging as a winning method for automobile oil pump innovation.
The growth of the worldwide automotive oil pump market is being aided by the development of electric cars (EVs). Aftermarket and OEM stakeholders are taking advantage of this opportunity to enhance and diversify their supply chains in emerging economies like India, China, and Taiwan. Electric oil pumps that improve cooling, lubrication, and actuation in electrical vehicles are becoming more widely available.
As industry participants adjust to a new post-pandemic normal, the automobile oil pump market is poised for solid growth in the coming months. OEMs and aftermarket players are rethinking supply chains and acquiring alternate partners to maintain business continuity. Automobile giants are implementing contingency plans to address the issues of slow goods and service transit.
OEMs and aftermarket stakeholders in the automobile oil pump market are using data to make informed decisions about raw materials and other components used in electric and mechanical oil pumps. Big data can be used to predict raw material price volatility when constructing car oil pumps.
Cobots Have Potential to Bring New Automotive Oil Pumps to Market Sooner
Automation is one of the most important trends in the automobile oil pump business. Collaborative robots, also known as cobots, are flooding production and assembly lines to speed up procedures in factories and manufacturing plants. However, due to the possibility of cobot malfunction, senior management must safeguard the safety of the workforce.
To avoid accidents at manufacturing plants, companies in the automobile oil pump market should use proper production processes and follow OSHA (Occupational Safety and Health Administration) requirements. When working with cobots, workers should be given with PPE such as helmets and coveralls. As a result, cobots have the potential to bring new vehicle oil pumps to market sooner.
Rapid Technological Advancements in Oil Pumps Propel Market Growth
Electric pumps have replaced mechanical pumps in passenger cars due to technological advancements. These pumps offer variable flow depending on the need and can thus improve the vehicle's overall fuel efficiency. Mechanical pumps, on the other hand, are still used in commercial vehicles because they are more reliable than electric pumps.
Growing Demand for Vehicles Boost Market Growth
The pandemic's rapid spread around the globe is encouraging customers to purchase vehicles, which is projected to boost vehicle sales and, as a result, stimulate the installation of oil pumps in vehicles to improve vehicle performance. This is projected to enhance the global automotive oil pump market.
Cost of Oil Pump Is Higher Than Conventional Oil Pump
The developments in materials, components, and systems, electric oil pump costs more than a conventional oil pump. As a result of the high cost of an automobile electric oil pump, the price of a car equipped with one is higher. During the projected period, this is anticipated to be a drag on the market. Also, electronic components such as ECUs, sensors, and microcontrollers with actuators are used to electrify oil pumps for engine applications and these components increases the cost. As a result, the market is expected to suffer.
The Global Automotive Oil Pump Market is segmented by Displacement Type, Pump Type, Lubrication System, Discharge Type, Vehicle Type, and Region. Based on the Displacement Type, the market is categorized into Fixed Displacement, and Variable Displacement. Based on Pump Type, the market is categorized into Electric Oil Pump and Mechanical Oil Pump. Based on Lubrication System, the market is categorized into Wet Sump Lubrication and Dry Sump Lubrication. Based on the Discharge Type, the market is categorized into Gear Pump, Gerotor, Vane Pump, and Others. Based on the Vehicle Type, the market is categorized into Passenger Vehicles, Light Commercial Vehicles, Trucks, and Buses & Coaches. Based on the region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
The Global Automotive Oil Pump Market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
The Asia Pacific region is expected to be the largest market by 2027. China and India, two of the world's fastest growing economies, are part of the region. In addition, the Asia Pacific area is the greatest market for automobiles, as rising consumer purchasing power has fueled demand in the region. The industry is also growing due to rising sales of commercial vehicles and passenger cars in the region. Concerns over environmental imbalances caused by automobile emissions have grown in nations like India, China, Malaysia, and Thailand during the last decade. As a result of these concerns, major automobile manufacturers have shifted their focus to vehicles that consume less fuel. Furthermore, due to the presence of big automotive production and a pioneer in the early adoption of vehicle electrification, the European region is expected to see considerable demand. Environmental legislation and pollution control measures, such as EURO6, are anticipated to hasten the adoption of high-performance Transmission Oil Pumps in the region.
KEY INDUSTRY PLAYERS
Companies in the global automotive oil pump market are increasing their footprint through mergers and acquisitions and the establishment of new facilities. For example, BorgWarner Inc. purchased Delphi Technologies for around US$ 3.3 billion in January 2022. The former would benefit from this acquisition in terms of scale, capabilities, and power electronics products. It would also allow the corporation to maintain flexibility across all powertrain modes, including electric, hybrid, and combustion. As a result, the market is expected to benefit from a boom in agreements and acquisitions between top variable flow oil pump manufacturers and OEMs in the United States.
KEY INDUSTRY DEVELOPMENTS:
In 2019, BorgWarner will purchase propulsion inverters and controls firms in the specialist and commercial vehicle sectors for HEVs and EVs. In 2018, the company partnered with Plug and Play and Franklin Venture Partners to remain ahead of upcoming technology trends.
In February 2019, Robert Bosch GmbH introduced the ECP 160 electric coolant pump. The pump's coolant flow may be adjusted to meet engine needs, and it can supply up to 14,700 liters per hour on demand. The ECP 160 is intended to replace mechanical pumps in combustion engines, but it can also be used in batteries, electric motors, and inverter cooling.
LIST OF KEY COMPANIES PROFILED:
Key Players Operating In the Global Automotive Oil Pump Market Include
- BorgWarner Inc.
- SHW AG
- AISIN CORPORATION
- Johnson Electric Holdings Limited
- Robert Bosch GmbH
- Magna International Inc.
- Mitsuba Corp.
- Laxmi Oil Pumps & Systems Private Limited
- Mikuni Corporation.
- Rheinmetall AG
- MAHLE GmbH
- Hitachi Astemo Americas, Inc.
By Displacement Type
- Fixed Displacement
- Variable Displacement
By Pump Type
- Electric Oil Pump
- Mechanical Oil Pump
By Lubrication System
- Wet Sump Lubrication
- Dry Sump Lubrication
By Discharge Type
- Gear Pump
- Vane Pump
By Vehicle Type
- Passenger Vehicle
- Light Commercial Vehicles
- Buses & Coaches
- North America- U.S., Mexico, Canada
- Europe- UK, France, Germany, Italy, Spain, Rest of Europe
- Asia-Pacific- China, Japan, India, South Korea, Rest of Asia Pacific
- South America- Brazil, Argentina, Colombia, Rest of South America
- The Middle East and Africa- GCC, South Africa, Rest of Middle East & Africa