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Global Automotive Engine Oil Pan Market to See Remarkable Growth with a Projected CAGR of 1.8% from 2022-2030

Global Automotive Engine Oil Pan Market to See Remarkable Growth with a Projected CAGR of 1.8% from 2022-2030 1

Due to the expanding demand for high-performance engine oil pans, the composites segment is expected to see the most enhanced growth during the forecast period.

NEWARK, UNITED STATES, May 30, 2022 /EINPresswire.com/ — As per the report published by MarketsandResearch.biz, the global automotive engine oil pan market is expected to grow from USD 1622.2 million in 2021 to USD 1904.7 million by 2030, at a CAGR of 1.8% during the forecast period 2022-2030.

The demand for recently designed oil pans with weightless qualities has doubled in the past years, associated with substantial car manufacturers and suppliers’ high spending on research & development. Automotive oil pans are increasingly fabricated from composites that are slightly less expensive than metal. The expense gap between metal and composite engine oil pans is essential. Automotive oil pans are developed to soak the highest part of engine noise and vibration, and it reaches well in fulfilling the increasing need for noiseless automobiles. The high-end car owners and fleet owners of large commercial automobiles are growing & looking for improved execution and fuel economy during technological advancements. As a result, throughout the projection duration, the development of luxury cars and high-end commercial vehicles is anticipated to develop a considerable prospect for oil pan manufacturers. Also, an expansion in vehicle manufacturing is expected to raise the demand for automobile oil pans during the projection period.

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Competitive Strategy
To enhance their market position in the global automotive engine oil pan market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.

Mahle Gmbh purchased Behr Hella Service, which developed the thermal control range in the aftermarket business area for traditional and electric automobiles in 2020.

In 2020, Dana inked a crucial deal to purchase Modine Manufacturing Company’s liquid-cooling automobile thermal management division.

Market Growth & Trends:
The automobile oil pan market is related to vehicle sales. Despite the current economic fluctuation, the global automotive industry has developed well on average. Enhanced design features with more temperature sustainability and mixed materials are now being utilized in automotive oil pans to lower total vehicle weight while improving robustness. Oil pans for automobiles are mainly made of light steel and developed into more in-depth sections to maintain oil out of the crankcase. Oil pans are installed under the crankcase and act as a reservoir for the oil. Automotive oil pans are made as a packed unit to control engine oil leakage and contamination. Due to the advancement of the automotive sector, the market for automotive oil pans will see substantial growth in size. OEM sales of automotive oil steel pans are set to grow considerably over the years. The strict lockdowns across several countries impacted economies worldwide. Due to travel constraints, fixed production and transportation-related uncertainties generated barriers during the covid explosion. Despite the challenging possibilities, economies are slowly improving. As supply and distribution networks are re-established, business activity has gradually improved. The pandemic rarely has a long-term impact on the market for automotive oil pans.

Key Findings:
In 2021, the aluminum segment dominated the market with the largest market share of 34% and market revenue of 551.5 million.
The type segment is divided into steel engine oil pan, aluminum engine oil pan, & composites engine oil pan. In 2021, the aluminum segment dominated the market with the largest market share of 34% and market revenue of 551.5 million. However, the composites segment is also anticipated to notice the most increased growth during the projection period, owing to the rising need for weightless and high-performance engine oil pans.

In 2021, the passenger vehicle segment dominated the market with the largest market share of 61% and market revenue of 989.5 million.
The application segment is divided into commercial vehicles & passenger vehicles. In 2021, the passenger vehicle segment dominated the market with the largest market share of 61% and market revenue of 989.5 million. The rising production of SUVs and hatchbacks, particularly in emerging economies like India and China, is the critical factor pushing the demand for engine oil pans.

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Regional Segment Analysis of the Automotive Engine Oil Pan Market:
North America (U.S., Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
Asia-Pacific (China, Japan, India, Rest of APAC)
South America (Brazil and the Rest of South America)
The Middle East and Africa (UAE, South Africa, Rest of MEA)

Among all regions, the Asia-Pacific region emerged as the largest market for the global automotive engine oil pan market, with a market share of around 34.5% and 559.6 million of the market revenue in 2021. The increased annual automobile production mainly drives the region’s demand for engine oil pans. China is anticipated to retain its dominance in the Asia-Pacific market over the coming years. The country is also the most significant global market. During projection, Europe is also expected to remain the second-largest automotive engine oil pan market.

Key players operating in the global automotive engine oil pan market are:
Polytech Plastics
Novares Group
Nemak
Minda KTSN Plastic Solutions
Mann+Hummel Group
Mahle
ElringKlinger
Eaton Corporation
Dana Incorporated
Ahresty Corporation

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Markets and Research have segmented the global automotive engine oil pan market based on the below-mentioned segments:

Global Automotive Engine Oil Pan Market by Type:
Steel Engine Oil Pan
Aluminium Engine Oil Pan
Composites Engine Oil Pan

Global Automotive Engine Oil Pan Market by Application:
Commercial Vehicle
Passenger Vehicle

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About the report:
The global automotive engine oil pan market is analysed based on value (USD Million). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

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Global Automotive Engine Oil Pan Market to See Remarkable Growth with a Projected CAGR of 1.8% from 2022-2030 2