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Automotive Engine Oil Pan Market to Reach US$ 2,161.2 Million in 2023

 


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The global automotive engine oil pan market is projected to grow at a healthy rate over the next five years to reach US$ 2,161.2 million in 2023. Increasing global automotive production, introduction of stringent regulations regarding fuel efficiency and carbon emissions, and continuous replacement of traditional oil pans with lightweight composite oil pans are the major growth drivers of the global automotive engine oil pan market.

Insights based on vehicle type:-

The global automotive engine oil pan market is segmented based on the vehicle type as Passenger Car, LCV (Light Commercial Vehicle) and M&HCV (Medium- and Heavy-Duty Commercial Vehicle). The passenger car is expected to remain the growth engine of the automotive engine oil pan market during the forecast period of 2018 to 2023. Increasing production of hatchbacks and SUVs especially in emerging economies, such as China and India, is the key factor, propelling the demand for engine oil pans in the segment.

Insights based on product type:-

Based on the product type, the global automotive engine oil pan market is segmented as Structural Engine Oil Pan and Non-Structural Engine Oil Pan. Structural oil pan is expected to remain the most dominant product type in the market during the forecast period of 2018 to 2023. However, non-structural engine oil pan is likely to grow at a faster growth rate during the same period.

Insights based on material type:-

Based on the material type, the automotive engine oil pan market is segmented as Aluminum, Steel, and Composites. Aluminum is expected to remain the most dominant material type in the global automotive engine oil pan market during the forecast period. However, composite is expected to witness the highest growth during the same period, owing to an increasing demand for lightweight and high-performance engine oil pans in the industry.

Insights based on region:-

Based on regions, Asia-Pacific is expected to remain the largest automotive engine oil pan market during the forecast period. The region is also expected to experience a healthy growth during the same period. High annual automobile production is primarily driving the demand for engine oil pans in the region. China is expected to maintain its dominance in the Asia-Pacific’s market over the next five years. The country is also the largest global market. Europe is expected to remain the second largest automotive engine oil pan market during the same period.

The supply chain of this market comprises raw material suppliers, automotive engine oil pan manufacturers, distributors, automotive OEMs, and dealers. Major automotive engine oil pan manufacturers in the market are MAHLE GmbH; Dana Incorporated; Eaton Corporation Plc; ElringKlinger AG; Nemak, S. A. B.de C. V. ; and Polytec Group. Development of optimized engine oil pan, regional expansion, and mergers & acquisitions are the key strategies adopted by major key players to gain a competitive edge in the market.

Source:- https://stratviewresearch.com/301/Automotive-Engine-Oil-Pan-Market.html

Stratview Research is a global market intelligence firm offering a wide range of services including syndicated market reports, consulting, sourcing intelligence, and customer research.

Phone No. +1-313-307-4176

Email: sales@stratviewresearch.com

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