According Nova one advisor, the global Automotive Electric Oil Pump market is valued at US$ 15.19 billion in 2021 and it is expected to grow at a CAGR of 4.52% during the forecast period (2022-2030) The demand in the Automotive Electric Oil Pump market is projected to reach a valuation of US$ 22.60 billion by the end of 2030.
Rise in the demand for electric mobility and fuel-efficient vehicles is driving the demand for automotive electric oil pumps. Stringent emission regulations have made it imperative for automakers to adopt engine downsizing technologies, such as electric oil pump. The electric oil pump is driven by an electric motor and maintains optimum oil pressure with low power consumption and high efficiency.
Increase in consumer demand for performance and improvement in fuel economy are expected to drive the automotive electric oil pump market. The growing consumer inclination toward electric vehicles due to increase in awareness about environment pollution across the globe is likely to propel electric vehicle sales across the globe. This, in turn, is anticipated to boost the demand for electric oil pumps in vehicles.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Automotive Electric Oil Pump market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Automotive Electric Oil Pump market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Automotive Electric Oil Pump market report empower readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Scope of the Report:
The global Automotive Electric Oil Pump market offers an exhaustive research analysis of the global market's growth prospects. The report's scope includes a global industry overview, a global industry description with comprehensive research analysis, and an Automotive Electric Oil Pump industry summary of various countries and their regions. This research study evaluation of present market revenue, market forecast, and market share investigation of the foremost suppliers of the industry. It also covers the competitive landscape, market size, marker trends, Automotive Electric Oil Pump industry future innovations, and a range of existing market business strategies. Stakeholders will be able to design and align their business plans using current and future market trends.
Drivers of Automotive Electric Oil Pump Market
Rising vehicle electrification, including electric power steering is likely to increase the demand for electric oil pump across the globe. Enactment of stringent emission norms across the globe is prompting vehicle manufacturers to develop lightweight vehicles to enhance fuel-efficiency of their vehicles. An electric oil pump is an oil pump driven by an electric motor, and is used to maintain oil pressure and lubricate the automobile components during engine stop of stop-start vehicles. Electric oil pumps are needed for hybrid electric vehicles and vehicles with idling start-stop systems. These pumps, which are able to supply oil even when the engine is switched off are characterized by high voltage, oil-pressure, and flow rate with less noise. This is anticipated to boost the automotive electric oil pump market across the globe.
Wide spread of the pandemic across the globe is prompting consumers to own vehicles, which is likely to increase the sale of vehicles and subsequently, boost the installation of electric oil pumps in vehicles in order to increase the performance of vehicles. This is likely to boost the automotive electric oil pump market across the globe.
Challenges for Automotive Electric Oil Pump Market
The COVID-19 pandemic has caused a majority of businesses across the globe to crumble, owing to forced shutdown of production and manufacturing activities. This has led the global economy to contract to its lowest growth rate. Majority of businesses in every industry are codependent and are a part of major supply chain in the market. Disruption in supply chain attributing to stoppage of transportation and shipping services and reduced demand for vehicles across the globe is likely to cause the global automotive industry to contract in Q1 and Q2 of 2020.
Advancements in material, components, and systems boost the price of the electric oil pump as compared to that of the conventional oil pump. Consequently, the price of the vehicle equipped with an electric oil pump is higher, due to the high price of the automotive electric oil pump. This is likely to hamper the market during forecast period
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Significant Market Participants Operational in the Automotive Electric Oil Pump Market are:
The global automotive electric oil pump market include FTE automotive, Hitachi Automotive, Rheinmetall Automotive AG, Johnson Electric, Nidec Corporation, Mitsubishi Electric, Mikuni American Corporation, Magna Powertrain, Inc., HUSCO Automotive, LLC, MAHLE Group , BorgWarner Inc., Robert Bosch GmbH, DENSO CORPORATION, ZF Friedrichshafen AG, AISIN SEIKI, and SHW AG.
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
Global Automotive Electric Oil Pump Market: Segmentation
- Automotive Electric Oil Pump Market, by Vehicle Type
- Hatchback
- Sedan
- Utility Vehicle
- Passenger Vehicle
- Light Commercial Vehicle
- Medium & Heavy Duty Truck
- Buses & Coaches
- Off-road Vehicles
- Automotive Electric Oil Pump Market, by Propulsion
- Battery Electric Vehicle
- Hybrid Electric Vehicle
- Plug-in Hybrid Electric Vehicle
- Electric Vehicle
- IC Engine Vehicle
- Automotive Electric Oil Pump Market, by Application
- Transmission Oil Pump
- Engine Oil Pump
- Brake Oil Pump
- Automotive Electric Oil Pump Market, by Sales Channel
By Geography
North America
Europe
- Germany
- France
- United Kingdom
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of Middle East & Africa
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the Automotive Electric Oil Pump market, and the current trends and future estimations to elucidate imminent investment pockets.
- It presents a quantitative analysis of the market from 2021 to 2027 to enable stakeholders to capitalize on the prevailing Automotive Electric Oil Pump market opportunities.
- Extensive analysis of the market based on procedures and services assists to understand the trends in the industry.
- Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the Automotive Electric Oil Pump market.
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2021) and forecast (2022-2030);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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