Automotive Electric Oil Pump Market by Vehicle Type (Passenger Vehicle and Commercial Vehicle), Application (Transmission Oil Pump, Engine Oil Pump, Brake Oil Pump, and Steering Pump), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2020–2027

Automobile fuel is transmitted in the electric oil pump with fuel transmission pressure in. Electrically, the flow of the fluid is controlled with the help of electric oil pump in the engine. This process is applied for lubrication of the engine, for decreasing the temperature of the vehicle engine and reducing the friction in the engine. 

Automotive Electric Oil Pump Market Analysis:

Automotive electric oil pump market is anticipated to witness a notable growth in the forecast period due to the growing demand for improving the fuel efficiency of vehicles, increasing utilization of electric vehicles utilization, and growing apprehensions about the atmosphere and carbon emission diffusion of oil pumps in hybrid electric vehicles.  Introduction of incentives by different government bodies for utilization of electric vehicles is expected to aid the growth of automotive electric oil pump market. The major driver in this market is the rising emphasis on reducing the environmental pollution from vehicles. The major restraint in this market is high initial cost of electrical pumps. European region is anticipated to have most opportunities for the market investors.

Increasing emphasis on reducing environmental pollution from vehicles is expected to drive the market.

The growing prices of crude oil and the growing environmental concerns as conventional fuels such because petrol and diesel emit harmful pollutants like Sulphur dioxide, carbon monoxide, and others when used in vehicles. These pollutants not only affect the environment but also are harmful for human health because they cause air pollution. But automotive electric oil pumps improve the fuel efficiency of the engine by enhancing lubrication and reducing the friction in the engine which results in low emission of pollutants and improved vehicle performance. These factors are expected to drive this market.

The expensive installation process of electrical pumps is projected to restrain the growth of the market

The process of electrification has increased the cost of the automobiles as the electric oil pump requires installation of parts such as electronic control unit, different electrical sensors and others. This factor can hamper the growth of the market. 

Increasing utilization of hybrid vehicles is projected to create enormous opportunities for the market

The automotive electric oil pumps utilized in hybrid vehicles are predicted to help in the expansion of the market and open further growth opportunities. The automotive electric oil pumps are capable of supplying oil to the car even when the engine is turned off at high pressure, and they can improve the efficiency of the engine and also emit less pollutants. The increasing utilization of hybrid vehicles which use eco-friendly fuels such as ethanol is expected to create enormous opportunities for the market.

Automotive Electric Oil Pump Market, by Vehicle Type:

The passenger car sub-segment is projected to be most lucrative in metals recovered till the 2027

On the basis of vehicle type, the market can be sub-categorized in to into passenger vehicle and commercial vehicle. The passenger car sub-segment dominates this market, due to high production of passenger cars globally. As per International Organization of Motor Vehicle Manufacturers 63.7 million passenger vehicles were globally sold in 2019. The growing use of automotive electric oil pump in passenger cars is due to improved efficiency and less emission of pollutants. These factors are expected to grow the market in the forecast period.  

Automotive Electric Oil Pump Market, by Application:

Steering pump sub-segment is anticipated to increase in the forecast period.

On the basis of application, the market can be sub categorized into engine oil pump, transmission oil pump, brake oil pump, and steering pump. The steering pump segment is expected to dominate the automotive pump market during the forecast period. Steering pumps are utilized in electro-hydraulic power and hydraulic steering systems for guiding the vehicle. These factors are expected to contribute in the growth of the engine oil pump market.

Automotive Electric Oil Pump Market, by Region:

Asia-Pacific region is anticipated to dominate the global automotive electric oil pump

Asia-Pacific region is projected to dominate of the global automotive electric oil pumps market, due to the large number automobile production in the region. As per "International Organization of Motor Vehicle Manufacturers" in 2019 around 35 million vehicles were produced in the region making Asia-Pacific the highest automobile producing continent in the world. Major manufacturing countries were China, Japan, and India. The automotive electric oil pumps are utilized in the vehicles to create a vacuum with improved efficiency and less emission of pollutants. These factors are expected to grow the market in the forecast period.

European region is anticipated to have immense opportunities for the market investors 

European market is growing at a healthy CAGR rate. The government guidelines and regulations on improving the efficiency of vehicles and reducing the automobile emission levels emission is contributing to the reduction the emission levels. The European Union, in 2015, committed the Paris Agreement is an agreement on climate United Nations Framework Convention on Climate Change that will reduce emission levels and work for pollution control. European union set target to reduce the greenhouse gas to 40% and the reduction of target is from 2021 to 2030. These factors are contributing to the growth of the market in the region. The use of automotive electric oil pumps reduces the emissions of the vehicle. These factors are expected to grow the automotive electric oil pumps market in the region.

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Key Participants in the Global Automotive Electric Oil Pump Market:

Merger & acquisition and advanced product development are the frequent strategies followed by the market players.

Source: Research Dive Analysis

Some of the significant automotive electric oil pump market players are, AISINSEIKI, Hitachi Automotive, Johnson Electric, Magna International, MAHLE Group, Mikuni American Corporation, Mitsubishi Electric Corporation and others.

Market players prefer inorganic growth strategies to expand into local markets.

Automotive electric oil pump market players are emphasizing more on merger & acquisition and advanced product development. These are the frequent strategies followed by established organizations. To emphasize more on the competitor analysis of market players, the Porter’s five force model is explained in the report.