Global Automotive Electric Oil Pump Market is expected to grow at a CAGR of 21.7% during the forecast period. Some of the key factors propelling the market growth include the 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.
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On the basis of geography, Asia Pacific region is projected to have considerable market growth during the forecast period, owing to the presence of key automobile manufacturers such as Toyota, Hyundai, Honda, and Suzuki, have established their manufacturing plants in APAC. Strong demand for passenger cars and commercial vehicles among consumers and industrial applications across key developing countries, such as India, China, and Korea are likely to drive the growth of the Asia Pacific market during the forecast period. Asia Pacific is leading to reduction of overall vehicle prices and subsequently increasing passenger vehicle adoption across the region.
Some of the key players in Automotive Electric Oil Pump Market include Mitsubishi Electric Corporation, Hitachi, Ltd., Robert Bosch GmbH, Johnson Controls International Plc, ZF Friedrichshafen AG, Aptiv PLC, DENSO Corporation, Mikuni American Corporation, FTE automotive Group, Nidec Corporation, Magna International, MAHLE Group, HUSCO Automotive, LLC, SHW AG, Delphi Automotive PLC, and Rheinmetall Automotive AG.
Vehicle Types Covered in Automotive Electric Oil Pump Market
• Commercial Vehicle
• Passenger Vehicle
• Internal Combustion Engine (ICE) Vehicle
• Electric Vehicles
Sales Channels Covered:
• Original Equipment Manufacturers (OEMs)
Pump Types Covered:
• Integrated Pump
• Separate Pump
• Engine Oil Pump
• Transmission Oil Pump
• Steering Pump
• Brake Oil Pump
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