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ALBANY, N.Y. , May 25, 2022 /PRNewswire/ -- Analysts at TMR estimate the automotive oil pump market to expand at a CAGR of 4.12% for the forecast period during 2021 to 2031. The proliferation of electric vehicles is creating new growth frontiers in the automotive oil pump market. This is driving OEMs to undertake R&D to increase the availability of electric oil pumps for optimizing lubrication, cooling, and actuation in electrified vehicles.
Intensifying competition is another key factor compelling automotive oil pump manufacturers to design leading-edge electric oil pumps. Serious targets of some governments to attain zero-emission goals by 2050 is driving manufacturers for increasing applications of electric oil pumps for electrified and autonomous vehicles.
Roll out of customized products such as automotive fluid extractor pump is another key growth strategy of manufacturers to sustain competition. In order to serve this, automotive oil pump manufacturing companies are devising comprehensive strategies to integrate customization and establish long-term supply contracts with automakers.
Moreover, consistently evolving customer preferences is compelling manufacturers to serve specific requirements or introduce customized oil pumps such as low vibration pumps, compact pumps, and brushless fuel pumps. Manufacturers of automotive oil pumps are using big data to predict volatility in raw material prices for data-driven decisions for designing of automotive oil pumps.
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Automotive Oil Pump Market –Key Findings of the Report
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Automotive Oil Pump Market – Growth Drivers
Automotive Oil Pump Market – Key Players
Some of the key players operating in the automotive oil pump market are;
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The automotive oil pump market is segmented as follows;
Automotive Oil Pump Market, by Displacement Type
Automotive Oil Pump Market, by Pump Type
Automotive Oil Pump Market, by Lubrication System
Automotive Oil Pump Market, by Discharge Type
Automotive Oil Pump Market, by Vehicle Type
Automotive Oil Pump Market, by Sales Channel
Automotive Oil Pump Market, by Region
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