The global transmission oil pump market is anticipated to grow at a considerable CAGR during the forecast period (2022-2028). A transmission oil pump is an automobile component placed in the engine of motor vehicles. The transmission oil pump supports the smooth running of the engine by supplying oil to the hydraulic actuator, torque converter, and other components for proper lubrication. The major factor attributing to the growth of the global transmission oil pump market includes the increasing installation of oil pumps in motor vehicles due to the increasing number of motor vehicle production across the globe. According to the 2021 Production Statistics report published by the International Organization of Motor Vehicle Manufacturers (OICA), around 80 million motor vehicles were produced across the globe in 2021. Among these, around 23 million commercial vehicles were manufactured and around 57 million passenger cars were produced in 2021. Thus, increasing the demand for transmission oil pumps.
Another factor increasing the application of transmission oil pumps for motor vehicles is the several benefits provided by them, including around 3% to 4% reduction of overall CO2 emission of vehicles, as per the Driving Cycle and Control Strategy. In the automatic type of transmission, the pumps offers huge benefits in terms of variable shifting and control strategies resulting in improved fuel efficiency. Thus, contributing to the growth of the global transmission oil pump market.
The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instances
- In June 2019, Ohio Transmission Corp., an America-based distributor and service provider acquired the Furey Filter & Pump Inc. with its subsidiary PSI Engineering LLC. This acquisition will support Ohio Transmission Corp. in expanding its pump, filtration, service, and fabrication business.
- In April 2022, Trillium Flow Technologies announced the acquisition of Termomeccanica Pompe, a provider of highly engineered vertical turbine and split case pumps for application in water transmission, power generations, and others. This acquisition will benefit Trillium to provide an extensive range of complementary pumping solutions due to the addition of Termomeccanica Pompe’s products.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Magna International Inc., Robert Bosch GmbH, Continental AG, Nidec Corp., and MAHLE GmbH, among others.
A full report is available at: https://orionmarketreports.com/global-transmission-oil-pump-market/109407/
Global Transmission Oil Pump Market Report by Segment
By Type
- Fixed Displacement Pumps
- Variable Displacement Pumps
By Application
- Passenger Cars
- Commercial vehicles
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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