New YorkAnd January 18 2022 /PRNewswire/- Fact.MR – Market Research and Competitive Intelligence Provider: The automotive oil pans industry is expected to grow at a compound annual growth rate of approximately 5% between 2021 and 2031, driven by strong demand for structural oil pans. Until 2031, East Asia And South Asia The Pacific Ocean is expected to account for more than half of the market.
Automotive oil sumps are designed to absorb maximum engine noise and vibration, helping to meet the growing demand for noiseless vehicles. The increase in automobile production is expected to increase the demand for automobile oil sumps in the near future.
The demand for newly designed oil pans with lightweight characteristics has grown globally in the past several years, due to increased spending on research and development by major vehicle manufacturers and suppliers. Composite materials, which are less expensive than metal, are increasingly used in the manufacture of automobile oil pans. As a result, there is a huge price difference between mineral and composite engine oil pans.
High-end vehicle owners and owners of large commercial vehicle fleets are increasingly looking to increase performance and fuel economy as technology advances. As a result, pot oil producers are likely to benefit significantly from the growth of luxury cars and high-end commercial vehicles during the forecast period.
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The demand for cars and commercial vehicles is increasing in places like EuropeAnd North America, And Asia Pacific. This growth is primarily due to increased disposable income and changing demographics, especially in countries like India And China. The demand for auto oil sumps is expected to increase with the increasing number of luxury and premium cars.
It is likely to be the most attractive market for auto lubricant suppliers Asia. China It dominates the East Asian market and is expected to develop at a significant rate until 2031. As a result of the country’s rapid economic expansion and changes in lifestyle, Chinese consumers’ interest in the automobile industry has increased significantly in recent years. within the expected time, Europe And South Asia & Pacific are emerging as major growth competitors for East Asia.
Increasing demand for automobiles and the increasing use of lightweight oil pans will have a positive impact on market growth over the coming years.”
The main takeaway:
- China It is the world’s largest market for auto oil sumps, accounting for about 66% of total sales in East Asia. This can be attributed to the modern technological infrastructure.
- United State It is expected to remain a profitable market for auto oil sumps. According to Fact.MR analysis, United State It will make up about 83% of the North American market by 2031.
- During the forecast period, the German market is expected to rise at a compound annual growth rate of 2.3%.
- During the projection period, the passenger car segment is estimated to account for approximately 75% of the demand for auto oil basins.
- Aluminum auto oil pans hold 55% of the market share on a material basis.
- With more and more cars on the road, so does the demand for oil pans.
- The market is growing due to design improvements and the development of light and efficient composite materials for oil pans.
- As the demand for luxury and luxury cars increases, so will the demand for auto oil sumps.
- The decrease in the replacement rate due to technological advancements in oil sumps is affecting the growth of the market to some extent.
- The COVID-19 outbreak is a major stumbling block to business expansion.
- The rise of electric cars is also limiting market expansion.
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Majority of companies featured in this Automotive Oil Market report focused on launching new products and expanding manufacturing facilities in emerging markets. Innovation, collaboration with important actors, strategic partnerships and alliances, strengthening regional and global distribution networks are all examples of strategies. Here are some of the most important developments:
- In 2020, Dana signed a formal agreement to purchase the Modine Manufacturing Company’s liquid-cooled vehicle thermal management branch.
- Dana currently owns 100% of Nordresa Motors which he acquired August 2019. Nordrissa is a leading integration and applications engineering expert in the development and marketing of electric powertrains for commercial vehicles.
- in a May 2017, Integrated Oil Sump Units was introduced by Mahle Gmbh.
Some of the major players operating in the automotive oil sump market described by Fact.MR are:
- Filter LLC
- Eurozo company
- Endurance Technologies Limited
- Polytec Holding AG
- Dana Company
- Ahresty Company
- Elring Klinger AG
- Huashen Group
- Mahle GmbH
- Yanagawa Seki Co., Ltd.
More Valuable Insights about Automotive Oil Sump Market
Fact.MR, in its new report, provides an unbiased analysis of the global automotive oil market, analyzing forecast statistics to 2021 and beyond. The survey reveals the growth outlook of the Automotive Oil market with a detailed breakdown:
- By product type
- Structural auto oil pans
- Non-structured auto oil pans
- by vehicle
- Automobile oil pans for passenger cars
- Automotive oil pans for light commercial vehicles (LCVs)
- Automotive oil sumps for heavy commercial vehicles (HCVs)
- according to article
- Steel Auto Oil Pans
- Auto aluminum oil pans
- Vehicle oil pans
- By sales channel
- Automobile oil pans are sold by OEMs
- Aftermarket auto oil pans for sale
- Key questions addressed in the Automotive Oil Pan market report
- The market survey also highlights the expected sales growth of the auto oil market between 2021 and 2031
- The report provides insight into the outlook for auto oil demand in 2021-2031
- Analyzing the overall Automotive Oil market share of the key companies in the industry and covering strategies such as mergers and acquisitions, collaborations or partnerships, among others
- Generally speaking, the Automotive Oil market analysis identifies the major growth drivers, restraints and other forces influencing the prevailing trends, and evaluates the current market size, forecast, and technological advancement within the industry.
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