Manufacturers Rely on Gasoline and Diesel Fuels
Player in the automotive variable oil pump market prefer gasoline for power transmission, as it is cheap and requires lesser service intervals. However, volatility in crude oil prices is impeding the usage of gasoline in automotive variable oil pumps. Consequently, manufacturers are banking on diesel, given its enhanced service life and reliability. Although diesel is relatively expensive versus conventional gasoline, its excellent fuel efficiency outweighs the cost constraint.
Furthermore, as the automotive industry moves forward with sustainability at the center, manufacturers of automotive variable oil pumps are turning to hybrid fuels to align with changing industry trends.
APAC Market to Witness Quantum Lead
Influenced by the presence of manufacturing hubs in the automotive industry – China and Japan – automotive variable oil pump market players continue to place their bets on Asia Pacific (APAC). Moreover, the electric vehicle (EV) industry in these countries has been experiencing staggering growth in the recent past, owing to the introduction of strict emission standards.
In a similar fashion, recent government regulations such as Bharat Stage (BS6) emission norms are steeply boosting vehicle electrification in India. However, amidst the coronavirus pandemic, automobile sales in APAC are likely to slide in the near term.
Customization - Key Differentiating Strategy
The automotive variable oil pump market is fairly competitive. Shifting market dynamics and rising competition is compelling manufacturers to focus on the customization of pumps. The automotive industry is transforming automobile designs in order to satiate ever-changing customer preferences.
Automotive variable oil pump manufacturers are offering customized or requirement-specific pumps such as brushless fuel pumps, low vibration pumps, and compact pumps for automakers. Players that move aggressively and create comprehensive strategies to integrate customization in their business operations will be well placed to secure long-term supply contracts with automakers.
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How Growth will Unfold
Significant rise in private vehicle ownership is providing momentum to the sales of passenger vehicles across the world. As such, market players must target this vehicle category, which will represent a multibillion-dollar opportunity towards the end of the projection period. FMI finds that, the adoption of automotive variable oil pumps in heavy commercial vehicles (HCVs) and light commercial vehicles (LCVs) is expected to hasten in the near term. Nevertheless, passenger vehicles will generate over 70% total return to shareholders, compared to around 25% from HCVs and LCVs, collectively.
AUTOMOTIVE VARIABLE OIL PUMP MARKET TAXONOMY
The global automotive variable oil pump market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the readers.
- Passenger Cars
- North America
- Latin America
- Western Europe
- Eastern Europe
- Middle East & Africa