Automotive Electric Oil Pump Market - Forecast(2023 - 2028)
Automotive Electric Oil Pump Market Overview
Automotive Electric Oil Pump Market value was
$15.84 billion in 2021 and is estimated to witness 26.2% CAGR during the forecast
period 2022-2027. Rising vehicle electrification, as well
as electric power steering, are projected to propel the Automotive Electric Oil
Pump industry globally. Automobile electric oil pumps are used to lubricate and cool
moving parts as well as supply oil pressure to components particularly as Transmission Oil Pump, Engine Oil Pump and Brake Oil Pump. The rise in demand for fuel-efficient
vehicles have prompted manufacturers to install electric oil pumps in their vehicles,
which is expected to significantly propel the global automotive electric oil
pump market. In 2021 Concentric AB has collaborated with a global Tier 1
manufacturer of fully automatic transmissions for medium and heavy-duty
commercial vehicles to create a new fully electric oil pump for use in their
"start/stop" technology. This collaboration is estimated to boost the
market demand. Moreover electric oil pumps demand is rapidly increasing as it
helps to overcome the problem of low torque at low speeds to ensure good
performance even at very low oil temperatures.
Report Coverage
The report: “Automotive Electric Oil Pump Market Forecast (2022-2027)”, by
IndustryARC covers an in-depth analysis of the following segments of the Automotive Electric Oil Pump Market.
By
Oil Pump Type- Idle Stop, Hybrid.
By Vehicle
Type – Passenger
vehicle and Light Commercial Vehicles, Heavy Commercial Vehicles, Buses, Off-Highway
Vehicles, Others.
By Electric Vehicle Type– Hybrid Electric Vehicle, Battery Electric Vehicle.
By Distribution Channel- Original equipment manufacturer, Aftermarket.
By Geography - North America (U.S, Canada, Mexico), Europe (Germany, UK, France,
Spain, Italy and Others), APAC(China, Japan,South Korea, India, Australia and Others), and South America(Brazil, Argentina, Colombia
and others), RoW (Middle east and Africa).
Key Takeaways
- Increased demand for passenger vehicles due to rapid urbanization, rising disposable income, and stable economic conditions, is driving the Automotive Electric Oil Pump industry growth.
- Increased demand for power steering in passenger vehicle as well as in commercial vehicle is driving the Automotive Electric Oil Pump industry demand
- APAC region account for the largest share % of the Advanced Driver Assistance Systems Market owing to the high vehicle production by the manufacturers such Suzuki, Toyota, Honda and others.
Automotive Electric Oil Pump Market Value Share, By Sensor Type, 2021 (%)
For More Details on This Report - Request for Sample
Automotive Electric Oil Pump Market Segment Analysis - By Vehicle Type
Passenger
Vehicles held major share of 28.54% in 2021. Increased demand for power steering
in passenger vehicle as well as in commercial vehicle is driving the Automotive
Electric Oil Pump Market demand owing to the factor that
electric oil pump helps to operate an oil hydraulic mechanism that is designed to
facilitate steering by the vehicle’s drive and enables the handling of larger
vehicles without the driver having to put effort on the steering wheel. Moreover,
the global trend toward lower fuel consumption has resulted in the increased
in production of electric vehicles, and all such electric vehicles are
equipped with an electric oil pump to perform its functions in the vehicle, and
thus this factor is driving market demand. In 2019, JTEKT Corporation opened a
new production facility in Morocco, the new plant was designed to begin mass
production of electric power steering systems, and it is expected that this new
production of electric power steering will increase the market demand.
Automotive Electric Oil Pump Market Segment Analysis - By Distribution Channel
The OEM
segment is expected to grow at the largest CAGR of 27.15% during the forecast
period 2022-2027, due to increased number of electric oil pump units produced by the
OEMs. It is supported by low labor costs
and stable economies, which aid in the localization of manufacturing units for
key OEMs, thereby avoiding heavy import duty taxes. The cost of one unit of
electric oil pump for OEM is lower, due to agreements between OEM and component
suppliers, incentives provided to OEMs, and lower production costs because OEM
production is done on a mass scale.
Automotive Electric Oil Pump Market Segment Analysis - By Geography
APAC region account for the largest share 32.85% in 2021 of the Automotive Electric Oil Pump Market owing to the high vehicle production by the manufacturers such Suzuki, Toyota, Honda and others. Moreover, increase in demand for passenger’s vehicle in the countries such as Japan, South Korea, and China is driving the market for APAC region. Moreover over the last decade, concern about ecological imbalances caused by vehicular emissions has risen in countries such as India, China, and Malaysia. This concern have compelled major vehicle manufacturers to shift their focus toward low-emission vehicles. The lubricating process used in electric oil pump helps to maintain fuel efficiency and reduce emissions which is further estimated to propel the market demand. Furthermore, the European region is also projected to witness high demand owing to the presence of large automotive manufacturing and a pioneer in the early adoption of vehicle electrification. Strict environmental policies and pollution control measures, such as EURO6, are likely to accelerate the region's adoption of high-performance Transmission Oil Pump.
Automotive Electric Oil Pump Market Drivers
Automakers' increasing emphasis on fuel-efficient vehicles
To meet the increasing demand for
fuel efficiency and vehicle capability, automakers have introduced advanced
technologies, the electric oil pump helps to enhance vehicle efficiency as it delivers
fuel at an optimized pressure as per the requirement of the engine. For
instance, in hybrid vehicle to perform start and stop engine system in an idle
standing of a vehicle the electric oil pump support by maintaining oil pressure
and lubricating the vehicle components which further results in increasing fuel
efficiency. Moreover these pumps, also supply oil even when the engine is
switched off and are characterized by high voltage, oil-pressure, and flow rate
with less noise. Thus, these factors driving the Automotive Electric Oil Pump
Market.
Government regulations and support
Governments around the world
is providing incentives to adopt battery electric vehicles in order to
reduce vehicle emissions, which in turn promotes the adoption of the automotive
electric oil pump market. In February 2021 the Indian government intends to
subsidize approximately 62,000 electric passenger cars and buses, in addition
to the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in
India (FAME India) Scheme, which is being implemented with a total budgetary
support of Rs 10,000 crore. Thus due to such government support the Automotive
Electric Oil Pump Market is projected to propel for the forecasted period
2021-2026.
Automotive Electric Oil Pump Market Challenges
High upfront cost
The price of an electric oil pump is higher than the price of
a conventional oil pump due to advancements in materials, components, and
systems. As a result of the high cost of the automotive electric oil pump, the
price of the vehicle equipped with an electric oil pump is higher. This is
likely to have a negative impact on the market during the forecast period. Moreover, oil Pump electrification for engine
applications is accomplished by incorporating electronic components such as ECUs,
sensors, and microcontrollers with actuators and these factors are resulting in
high cost and is estimated to hamper the growth of the market.
Automotive Electric Oil Pump Market Landscape
Technology launches, acquisitions and R&D activities are
key strategies adopted by players in the Solar Cell Fabric market. Automotive Electric Oil Pump industry top 10 companies – Delphi Automotive PLC, FTE automotive, Johnson Electric, Magna
Powertrain, Inc., Robert Bosch GmbH, HUSCO Automotive, DENSO Corporation, Mitsubishi
Electric Corporation, Johnson Electric, Rheinmetall Automotive AG.
Acquisitions/Technology Launches
- In 2021 Ford plans to invest $1 billion in an electric vehicle production facility in Cologne, Germany which is further estimated to propel the requirement of electric oil pumps into the electric vehicles and thus boost the Automotive Electric Oil Pump Market.
- In 2020, BMW AG announced the introduction of 25 hybrid electric vehicle models across the world, this is projected to boost the market demand as more hybrid electric vehicle require more electric oil pumps.
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LIST OF TABLES
1.Global Automotive Electric Oil Pump Market Analysis and Forecasts, by Electric Vehicle Type Market 2019-2024 ($M)2.Global Automotive Electric Oil Pump Market Analysis and Forecast, by Vehicle Type Market 2019-2024 ($M)
3.Global Automotive Electric Oil Pump Market Analysis and Forecast, by Sales Channel Market 2019-2024 ($M)
4.Global Competition Landscape Market 2019-2024 ($M)
4.1 Executive Bios/ Key Executive Changes Market 2019-2024 ($M) - Global Industry Research
4.1.1 FTE automotive Market 2019-2024 ($M)
4.1.2 Hitachi Automotive Market 2019-2024 ($M)
4.1.3 Rheinmetall Automotive AG Market 2019-2024 ($M)
4.1.4 Johnson Electric Market 2019-2024 ($M)
4.1.5 Nidec Corporation Market 2019-2024 ($M)
4.1.6 Mitsubishi Electric Market 2019-2024 ($M)
4.1.7 Mikuni American Corporation Market 2019-2024 ($M)
4.1.8 Magna International Market 2019-2024 ($M)
4.1.9 HUSCO Automotive, LLC Market 2019-2024 ($M)
4.1.10 MAHLE Group Market 2019-2024 ($M)
4.1.11 Delphi Automotive PLC. Market 2019-2024 ($M)
4.1.12 Robert Bosch GmbH Market 2019-2024 ($M)
4.1.13 DENSO CORPORATION Market 2019-2024 ($M)
4.1.14 ZF Friedrichshafen AG Market 2019-2024 ($M)
4.1.15 AISIN SEIKI Market 2019-2024 ($M)
4.1.16 SHW AG Market 2019-2024 ($M)
5.Global Automotive Electric Oil Pump Market Analysis and Forecasts, by Electric Vehicle Type Market 2019-2024 (Volume/Units)
6.Global Automotive Electric Oil Pump Market Analysis and Forecast, by Vehicle Type Market 2019-2024 (Volume/Units)
7.Global Automotive Electric Oil Pump Market Analysis and Forecast, by Sales Channel Market 2019-2024 (Volume/Units)
8.Global Competition Landscape Market 2019-2024 (Volume/Units)
8.1 Executive Bios/ Key Executive Changes Market 2019-2024 (Volume/Units) - Global Industry Research
8.1.1 FTE automotive Market 2019-2024 (Volume/Units)
8.1.2 Hitachi Automotive Market 2019-2024 (Volume/Units)
8.1.3 Rheinmetall Automotive AG Market 2019-2024 (Volume/Units)
8.1.4 Johnson Electric Market 2019-2024 (Volume/Units)
8.1.5 Nidec Corporation Market 2019-2024 (Volume/Units)
8.1.6 Mitsubishi Electric Market 2019-2024 (Volume/Units)
8.1.7 Mikuni American Corporation Market 2019-2024 (Volume/Units)
8.1.8 Magna International Market 2019-2024 (Volume/Units)
8.1.9 HUSCO Automotive, LLC Market 2019-2024 (Volume/Units)
8.1.10 MAHLE Group Market 2019-2024 (Volume/Units)
8.1.11 Delphi Automotive PLC. Market 2019-2024 (Volume/Units)
8.1.12 Robert Bosch GmbH Market 2019-2024 (Volume/Units)
8.1.13 DENSO CORPORATION Market 2019-2024 (Volume/Units)
8.1.14 ZF Friedrichshafen AG Market 2019-2024 (Volume/Units)
8.1.15 AISIN SEIKI Market 2019-2024 (Volume/Units)
8.1.16 SHW AG Market 2019-2024 (Volume/Units)
9.North America Automotive Electric Oil Pump Market Analysis and Forecasts, by Electric Vehicle Type Market 2019-2024 ($M)
10.North America Automotive Electric Oil Pump Market Analysis and Forecast, by Vehicle Type Market 2019-2024 ($M)
11.North America Automotive Electric Oil Pump Market Analysis and Forecast, by Sales Channel Market 2019-2024 ($M)
12.North America Competition Landscape Market 2019-2024 ($M)
12.1 Executive Bios/ Key Executive Changes Market 2019-2024 ($M) - Regional Industry Research
12.1.1 FTE automotive Market 2019-2024 ($M)
12.1.2 Hitachi Automotive Market 2019-2024 ($M)
12.1.3 Rheinmetall Automotive AG Market 2019-2024 ($M)
12.1.4 Johnson Electric Market 2019-2024 ($M)
12.1.5 Nidec Corporation Market 2019-2024 ($M)
12.1.6 Mitsubishi Electric Market 2019-2024 ($M)
12.1.7 Mikuni American Corporation Market 2019-2024 ($M)
12.1.8 Magna International Market 2019-2024 ($M)
12.1.9 HUSCO Automotive, LLC Market 2019-2024 ($M)
12.1.10 MAHLE Group Market 2019-2024 ($M)
12.1.11 Delphi Automotive PLC. Market 2019-2024 ($M)
12.1.12 Robert Bosch GmbH Market 2019-2024 ($M)
12.1.13 DENSO CORPORATION Market 2019-2024 ($M)
12.1.14 ZF Friedrichshafen AG Market 2019-2024 ($M)
12.1.15 AISIN SEIKI Market 2019-2024 ($M)
12.1.16 SHW AG Market 2019-2024 ($M)
13.South America Automotive Electric Oil Pump Market Analysis and Forecasts, by Electric Vehicle Type Market 2019-2024 ($M)
14.South America Automotive Electric Oil Pump Market Analysis and Forecast, by Vehicle Type Market 2019-2024 ($M)
15.South America Automotive Electric Oil Pump Market Analysis and Forecast, by Sales Channel Market 2019-2024 ($M)
16.South America Competition Landscape Market 2019-2024 ($M)
16.1 Executive Bios/ Key Executive Changes Market 2019-2024 ($M) - Regional Industry Research
16.1.1 FTE automotive Market 2019-2024 ($M)
16.1.2 Hitachi Automotive Market 2019-2024 ($M)
16.1.3 Rheinmetall Automotive AG Market 2019-2024 ($M)
16.1.4 Johnson Electric Market 2019-2024 ($M)
16.1.5 Nidec Corporation Market 2019-2024 ($M)
16.1.6 Mitsubishi Electric Market 2019-2024 ($M)
16.1.7 Mikuni American Corporation Market 2019-2024 ($M)
16.1.8 Magna International Market 2019-2024 ($M)
16.1.9 HUSCO Automotive, LLC Market 2019-2024 ($M)
16.1.10 MAHLE Group Market 2019-2024 ($M)
16.1.11 Delphi Automotive PLC. Market 2019-2024 ($M)
16.1.12 Robert Bosch GmbH Market 2019-2024 ($M)
16.1.13 DENSO CORPORATION Market 2019-2024 ($M)
16.1.14 ZF Friedrichshafen AG Market 2019-2024 ($M)
16.1.15 AISIN SEIKI Market 2019-2024 ($M)
16.1.16 SHW AG Market 2019-2024 ($M)
17.Europe Automotive Electric Oil Pump Market Analysis and Forecasts, by Electric Vehicle Type Market 2019-2024 ($M)
18.Europe Automotive Electric Oil Pump Market Analysis and Forecast, by Vehicle Type Market 2019-2024 ($M)
19.Europe Automotive Electric Oil Pump Market Analysis and Forecast, by Sales Channel Market 2019-2024 ($M)
20.Europe Competition Landscape Market 2019-2024 ($M)
20.1 Executive Bios/ Key Executive Changes Market 2019-2024 ($M) - Regional Industry Research
20.1.1 FTE automotive Market 2019-2024 ($M)
20.1.2 Hitachi Automotive Market 2019-2024 ($M)
20.1.3 Rheinmetall Automotive AG Market 2019-2024 ($M)
20.1.4 Johnson Electric Market 2019-2024 ($M)
20.1.5 Nidec Corporation Market 2019-2024 ($M)
20.1.6 Mitsubishi Electric Market 2019-2024 ($M)
20.1.7 Mikuni American Corporation Market 2019-2024 ($M)
20.1.8 Magna International Market 2019-2024 ($M)
20.1.9 HUSCO Automotive, LLC Market 2019-2024 ($M)
20.1.10 MAHLE Group Market 2019-2024 ($M)
20.1.11 Delphi Automotive PLC. Market 2019-2024 ($M)
20.1.12 Robert Bosch GmbH Market 2019-2024 ($M)
20.1.13 DENSO CORPORATION Market 2019-2024 ($M)
20.1.14 ZF Friedrichshafen AG Market 2019-2024 ($M)
20.1.15 AISIN SEIKI Market 2019-2024 ($M)
20.1.16 SHW AG Market 2019-2024 ($M)
21.APAC Automotive Electric Oil Pump Market Analysis and Forecasts, by Electric Vehicle Type Market 2019-2024 ($M)
22.APAC Automotive Electric Oil Pump Market Analysis and Forecast, by Vehicle Type Market 2019-2024 ($M)
23.APAC Automotive Electric Oil Pump Market Analysis and Forecast, by Sales Channel Market 2019-2024 ($M)
24.APAC Competition Landscape Market 2019-2024 ($M)
24.1 Executive Bios/ Key Executive Changes Market 2019-2024 ($M) - Regional Industry Research
24.1.1 FTE automotive Market 2019-2024 ($M)
24.1.2 Hitachi Automotive Market 2019-2024 ($M)
24.1.3 Rheinmetall Automotive AG Market 2019-2024 ($M)
24.1.4 Johnson Electric Market 2019-2024 ($M)
24.1.5 Nidec Corporation Market 2019-2024 ($M)
24.1.6 Mitsubishi Electric Market 2019-2024 ($M)
24.1.7 Mikuni American Corporation Market 2019-2024 ($M)
24.1.8 Magna International Market 2019-2024 ($M)
24.1.9 HUSCO Automotive, LLC Market 2019-2024 ($M)
24.1.10 MAHLE Group Market 2019-2024 ($M)
24.1.11 Delphi Automotive PLC. Market 2019-2024 ($M)
24.1.12 Robert Bosch GmbH Market 2019-2024 ($M)
24.1.13 DENSO CORPORATION Market 2019-2024 ($M)
24.1.14 ZF Friedrichshafen AG Market 2019-2024 ($M)
24.1.15 AISIN SEIKI Market 2019-2024 ($M)
24.1.16 SHW AG Market 2019-2024 ($M)
25.MENA Automotive Electric Oil Pump Market Analysis and Forecasts, by Electric Vehicle Type Market 2019-2024 ($M)
26.MENA Automotive Electric Oil Pump Market Analysis and Forecast, by Vehicle Type Market 2019-2024 ($M)
27.MENA Automotive Electric Oil Pump Market Analysis and Forecast, by Sales Channel Market 2019-2024 ($M)
28.MENA Competition Landscape Market 2019-2024 ($M)
28.1 Executive Bios/ Key Executive Changes Market 2019-2024 ($M) - Regional Industry Research
28.1.1 FTE automotive Market 2019-2024 ($M)
28.1.2 Hitachi Automotive Market 2019-2024 ($M)
28.1.3 Rheinmetall Automotive AG Market 2019-2024 ($M)
28.1.4 Johnson Electric Market 2019-2024 ($M)
28.1.5 Nidec Corporation Market 2019-2024 ($M)
28.1.6 Mitsubishi Electric Market 2019-2024 ($M)
28.1.7 Mikuni American Corporation Market 2019-2024 ($M)
28.1.8 Magna International Market 2019-2024 ($M)
28.1.9 HUSCO Automotive, LLC Market 2019-2024 ($M)
28.1.10 MAHLE Group Market 2019-2024 ($M)
28.1.11 Delphi Automotive PLC. Market 2019-2024 ($M)
28.1.12 Robert Bosch GmbH Market 2019-2024 ($M)
28.1.13 DENSO CORPORATION Market 2019-2024 ($M)
28.1.14 ZF Friedrichshafen AG Market 2019-2024 ($M)
28.1.15 AISIN SEIKI Market 2019-2024 ($M)
28.1.16 SHW AG Market 2019-2024 ($M)
LIST OF FIGURES
1.US Automotive Electric Oil Pump Market Revenue, 2019-2024 ($M)2.Canada Automotive Electric Oil Pump Market Revenue, 2019-2024 ($M)
3.Mexico Automotive Electric Oil Pump Market Revenue, 2019-2024 ($M)
4.Brazil Automotive Electric Oil Pump Market Revenue, 2019-2024 ($M)
5.Argentina Automotive Electric Oil Pump Market Revenue, 2019-2024 ($M)
6.Peru Automotive Electric Oil Pump Market Revenue, 2019-2024 ($M)
7.Colombia Automotive Electric Oil Pump Market Revenue, 2019-2024 ($M)
8.Chile Automotive Electric Oil Pump Market Revenue, 2019-2024 ($M)
9.Rest of South America Automotive Electric Oil Pump Market Revenue, 2019-2024 ($M)
10.UK Automotive Electric Oil Pump Market Revenue, 2019-2024 ($M)
11.Germany Automotive Electric Oil Pump Market Revenue, 2019-2024 ($M)
12.France Automotive Electric Oil Pump Market Revenue, 2019-2024 ($M)
13.Italy Automotive Electric Oil Pump Market Revenue, 2019-2024 ($M)
14.Spain Automotive Electric Oil Pump Market Revenue, 2019-2024 ($M)
15.Rest of Europe Automotive Electric Oil Pump Market Revenue, 2019-2024 ($M)
16.China Automotive Electric Oil Pump Market Revenue, 2019-2024 ($M)
17.India Automotive Electric Oil Pump Market Revenue, 2019-2024 ($M)
18.Japan Automotive Electric Oil Pump Market Revenue, 2019-2024 ($M)
19.South Korea Automotive Electric Oil Pump Market Revenue, 2019-2024 ($M)
20.South Africa Automotive Electric Oil Pump Market Revenue, 2019-2024 ($M)
21.North America Automotive Electric Oil Pump By Application
22.South America Automotive Electric Oil Pump By Application
23.Europe Automotive Electric Oil Pump By Application
24.APAC Automotive Electric Oil Pump By Application
25.MENA Automotive Electric Oil Pump By Application