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(Transportation-News.com, February 26, 2019 ) As per the latest market intelligence report published by Stratview Research, the Automotive Engine Oil Pan Market is anticipated to reach at US$ 2,161.2 million by 2023.
The research studies Automotive Engine Oil Pan Market in the trend period of 2012 to 2017 and forecasted period of 2018 to 2023 under four segments by Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium- and Heavy-Duty Commercial Vehicle), by Product Type (Structural and Non-Structural), by Material Type (Aluminum, Steel, and Composites), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023
The study finds – 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. Aluminum is expected to remain the most dominant material type. Structural oil pan is expected to remain the most dominant product type in the market during the forecast period of 2018 to 2023. The passenger car to remain the growth engine of the automotive engine oil pan market during the forecast period.
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Automotive Engine Oil Pan Market: Highlights 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.
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.
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.
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Stratview Research
Ritesh Gandecha
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Source: EmailWire.Com
Source: EmailWire.com
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