Global Oil Pump Market is Boosting the Automotive Industry.
According to a new report published by Reports Monitor titled, “Oil Pump Market by Type, Property & Applications: Global Opportunity Analysis and Industry Forecast, 2017–2025,” the Oil Pump Market was valued at XX million in 2016 and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025. Asia Pacific region is accounted as the larges region owing to the growing in demand for passenger vehicles due to rapid urbanization, stable economic conditions, and lower interest rate.
The device that is used to continuously lubricate highly stressed and constantly moving devices is termed as oil pump. it is considered to be the essential part of the lubrication system. the oil pump is used in preventing excessive wear and tear of main components of an internal combustion engine. It is recommended to check some of the qualities such as long-lasting behavior of the pump before installing it as this confirms less maintenance in the long run.
The necessity to develop the lifespan of a vehicle and engine by plunging wear and tear and enhancing cooling contribute to the growth of the market. Increasing demand for vehicles, severe standards to control emissions, improvising fuel efficiency and improving manufacturing processes are the major drivers for the growth of the market. Moreover, growing popularity of fuel-efficient cars is one of the recent trends that is acquiring traction in the market propelling the demand for the market.
On the basis of segmentation, the market is bifurcated into displacement type, pump type, lubrication system, vehicle, and region.
According to the displacement type, the market is divided into fixed displacement type and variable displacement type.
Based on the pump type, the market is divided into electric oil pump and mechanical oil pump. On the basis of lubrication system, the market is split into wet sump lubrication and dry sump lubrication. Based on the vehicle, the market is categorized into passenger vehicle and commercial vehicle.
Key Question Answered: •What will be the market size in 2025 and at what rate it will grow? •Who are the major key players in global oil pump market and what are their strategies? •Which vertical industry is expected to show major growth? •What segment and region will lead the market and why?
The major companies profiled in the report include: as Denso, Robert Bosch, and Aisin Seiki, Johnson Electric, Magna International, Delphi Automotive, and Rheinmetall Automotive
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