Electric oil pump circulates oil or a lubricant fluid under pressure in an intelligent way, so that the fluid flow is controlled electrically and independently. This flow mechanism of fluid is utilized for lubrication, for cooling the engine, reduce wear & tear, and friction, thus, helps to avoid machine break down. The use of electric oil pump improves engine efficiency of a vehicle. Improper functioning of oil pump hampers performance of different systems, such as transmission, engine, and braking system, which leads to huge loss, hence, electric pumps are preferred over conventional pump. An electric oil pump is driven by an electric motor, produces minimal noise and vibration, and maintains optimum oil pressure with low power consumption and high fuel efficiency. This has influenced the automotive electric oil pump market.
The factors that drive the growth of the automotive electric oil pump market include growth in demand for fuel efficient vehicles, increase in installation of electric power steering in passenger cars, rise in concerns about the environment and carbon emissions, and high penetration of these pumps in hybrid electric vehicles. Governments of different countries across the globe are providing incentives to purchase battery electric vehicles to reduce vehicle emissions.
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This, in turn, promotes the battery electric vehicle segment of the automotive electric oil pump market. In addition, the factors that restrain the market include global rise in price of raw material and high cost of electric pump installation in vehicles. However, growing demand for automatic transmission systems in vehicles and increasing government regulations for fuel efficient vehicles in developing nations to control pollution provide opportunities for the growth of the automotive electric oil pump market.
The major companies profiled for the automotive electric oil pump market share include FTE automotive, Hitachi Automotive, Rheinmetall Automotive AG, Johnson Electric, Nidec Corporation, Mitsubishi Electric, Mikuni American Corporation, Magna International, HUSCO Automotive, MAHLE Group, Delphi Automotive PLC., Robert Bosch GmbH, DENSO CORPORATION, ZF Friedrichshafen AG, AISIN SEIKI, SHW AG, and others.
The automotive electric oil pump market is segmented on the basis of application, electric vehicle type, hybrid electric vehicle, vehicle type, distribution channel, and region. On the basis of application, it is categorized into transmission oil pump, engine oil pump, and brake oil pump. By electric vehicle type, it is classified into Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), and Plug-in Hybrid Electric Vehicle (PHEV). By vehicle type, it is bifurcated into passenger vehicles and commercial vehicles. By distribution channel, it is divided into OEM and aftermarket. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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KEY BENEFITS FOR STAKEHOLDERS
- This study comprises analytical depiction of the automotive electric oil pump market with current trends and future estimations to depict the imminent investment pockets.
- The overall potential is determined to understand the profitable trends to gain a stronger foothold in automotive electric oil pump industry.
- The automotive electric oil pump market analysis report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current market forecast is quantitatively analyzed from 2019–2026 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
AUTOMOTIVE ELECTRIC OIL PUMP MARKET KEY SEGMENTS
By Application
- Transmission Oil Pump
- Engine Oil Pump
- Brake Oil Pump
By Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
By Electric Vehicle Type
- Battery Electric Vehicle (BEV)
- Hybrid Electric Vehicle (HEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
By Distribution channel
- OEM
- Aftermarket
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