As per Fact.MR – a market research and competitive intelligence provider, the global automotive oil pan market is projected to expand at CAGR of around 5% over the forecast period 2021-2031.
Automotive oil pans are a critical component of a vehicle’s cooling system. Oil pans for automobiles are usually made from thin steel and formed into deeper sections to hold oil that comes out of the crankcase. They are situated beneath the crankcase and serve as a reservoir for the oil.
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To prevent engine oil contamination and leakage, automotive oil pans are constructed as a sealed unit. Composites are now being used in automotive oil pans to reduce total vehicle weight, while also increasing robustness. Due to the rise of the automotive industry, the market for automotive oil pans will see major increase in size over the coming years.
Rising demand for automobiles and growing use of lightweight oil pans will have a positive impact on market growth over the coming years,’’ says a Fact.MR analyst.
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Analysis of Competition
Some of the key players included in the report are Filtran LLC, Yorozu Corporation, Endurance Technologies ltd, Polytec Holding AG, DANA Inc, Ahresty Corporation, Elring Klinger AG, Hwashin Group, Nemak, Mahle Gmbh, Yanagawa Seiki Co. Ltd., and others.
In terms of revenue, top players own a significant proportion of the market share. These businesses have a global brand presence thanks to their adherence to government standards and laws. To increase their market share, leading manufacturers are also improving their technology.
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Regional analysis includes
Crucial insights in the Automotive Oil Pan Market research:
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