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Technavio’s market research report predicts that the global automotive oil pump market will grow steadily during the next four years and in terms of units, will post a CAGR of more than 4% by 2021. The low penetration of passenger cars in the developing countries will be one of the primary drivers for automotive oil pump market growth. The sales of automotive oil pumps is related to the growth of the passenger cars market since all passenger cars are equipped with automotive oil pumps. Compared to the other regions, the penetration of cars in APAC is low making it a favorable market for car manufacturers. It has been observed that during 2016, India had one of the lowest car penetrations in the world of about 15 cars per 1,000 people followed by China with a penetration rate of about 60 cars per 1,000 people and Brazil with 203 cars per 1,000 people. This reduced penetration of cars in the emerging countries provides several growth opportunities for car OEMs. This will propel the growth of the automotive industry especially in the emerging countries such as China, India, Brazil, South Korea, Indonesia, and parts of eastern Europe, in turn, driving the growth of the automotive oil pump market.
According to our automotive oil pump industry trends the rising popularity of fuel-efficient cars, will fuel the market growth. Owing to stringent vehicular emission norms, the auto manufacturers in developing countries are concentrating on producing fuel-efficient, lightweight, and compact vehicles. The vendors are also emphasizing on the mileage and the price of the vehicle. Due to the potential oil shortage and varied climatic changes, countries including Japan, China, and several European countries have already introduced stringent fuel economy standards. As a result, customers will start preferring fuel-efficient cars, inducing manufacturers to produce fast and fuel-efficient vehicles by decreasing the size of powertrains.
The automotive oil pump market consists of few well-established vendors who are currently focusing on enhancing their customer base and increasing their R&D investments. The market is competitive and the vendor competition in the market will further intensify due to advancements in technology and stringent government regulations. Since the quality of materials used, designs, and cost are unique for each vendor, a few market players are also focusing on forming long-term collaborations with other manufacturers.
Key vendors in the market are:
Other prominent vendors include Johnson Electric, Magna International, Delphi Automotive, and Rheinmetall Automotive.
During 2016, the passenger cars segment dominated the automotive oil pump market and is expected to continue its dominance over the next four years. The decrease in unemployment, the low-interest rates, and the rising customer preference for fuel efficient engines, will drive the segment’s growth in this global market.
In terms of geography, APAC accounted for the majority of the market shares of the automotive oil pump market during 2016 and the region will continue its dominance during the forecast period as well. Factors such as the rise in disposable incomes and the launch of new car models by manufacturers, will drive the market’s growth prospects in this region.
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Rising vehicle population, increasing execution of environmental regulations, and growing vehicle electrification are some of the factors that are predicted to drive the growth of the global automotive oil pump market over the next few years. Technavio’s reports for the automotive components industry comprises of a variety of fast-growing markets including wheels and tires and powertrain. Apart from providing information on other factors such as the evolution of the consumer preferences and challenges for the vendors in this market space, Technavio’s reports also detail out a considerable analysis of the demand and supply shifts and the competitive landscape of the automotive industry.
To accurately predict the growth of the automotive industry, market research experts at Technavio conform to a primary and secondary research technique and also carry out a study of various other factors such as technological advancements and the rise in the demand for various products globally. Our upcoming industry research report on the global automotive oil pump market for the forecast period 2017-2021 offers key insights procured from different reliable sources of data such as the manufacturers, the channel partners, regulatory bodies and the stakeholders.
This upcoming industry research report on the global automotive oil pump market takes into account the growth of related market such as motorcycle clutch, which is expected to grow at a CAGR of more than 7% by 2021. Technavio also offers customized reports to clients helping them succeed in the global automotive market. This upcoming industry research report on the global automotive oil pump market identifies the market drivers, future market trends and also presents insights into automotive electronics and automotive manufacturing.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by application
PART 07: Geographical segmentation
PART 08: Key leading countries
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
PART 15: Key vendor analysis
PART 16: Appendix
Tags: fuel pump, centrifugal pump, performace parts, auto accessories, automotive components business segment, vehicle parts,
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