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Electric Mobility Sparks Future Growth Prospects Amid Industry Downturn Due to COVID-19

The COVID-19 crisis has had a multifaceted impact on the automotive industry, which has led to a significant decrease in vehicle production and inventories. However, electric mobility is gaining momentum, and is creating long-term value grab opportunities for companies in the automotive electric oil pump market. Manufacturers are expanding their businesses in China, since the country has one of the highest numbers of e-car fleets, followed by the U.S.

In 2021, industry expects sales to continue to recover. However, it is anticipated that it could even take up to 3-5 years for the automotive industry to return to its normalcy, based on downturns incurred in the year 2020, due to the coronavirus outbreak. As such, newly registered passengers in electric mobility are predicted to keep economies running in the automotive electric oil pump market.

automotive electric oil pump market segmentation

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New Electric Oil Pumps Ensure Good Performance at Low Oil Temperatures

The automotive electric oil pump market is slated to clock as astonishing CAGR of ~24% during the forecast period. However, there is a need for electric oil pumps that overcome the problem of low torque at low speeds to ensure good performance even at very low oil temperatures. Hitachi Automotive Systems Americas, Inc. has recognized this issue and is gaining proficiency to develop electric oil pumps that cool the transmission in a hybrid car.

Companies in the automotive electric oil pump market are developing systems that maintain the oil pressure in the transmission while the engine is at halt.

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Custom Designed Electric Oil Pumps Enhance Energy Efficiency in EVs

Smart solutions for actuation, lubrication, and cooling in electric vehicles (EVs) are translating into revenue opportunities for manufacturers in the automotive electric oil pump market. Bosch Mobility Solutions is gaining popularity for its electric oil pumps that are compact, optimize pumping elements, and lower noise vibration harshness. Companies in the automotive electric oil pump market are tapping into incremental opportunities in India, since Tata Motors, Mahindra Group, and Maruti Suzuki India Limited have announced to launch of EVs under INR 15 lacs for Indian buyers.

Modular power classes and hydraulic components in oil pumps are revolutionizing electric mobility. Custom designed electric oil pumps are enabling automated transmission lubrication and cooling. With fully integrated design pumps, motors, and electronic control units, the result is energy savings.

Electronic Transmission Oil Pumps Eliminating Need of Electrolytic Capacitors

The automotive electric oil pump market is expected to exceed the valuation of US$ 76.4 Bn by 2031. Intelligent transmission oil pumps for high performance applications have the potential to fully replace mechanical pumps. Vitesco Technologies - a producer of efficient electrification technologies for vehicles is developing electronic transmission oil pumps that are eliminating the need of electrolytic capacitors.

Manufacturers in the automotive electric oil pump market are increasing their R&D muscle to integrate sensors in electronic transmission oil pumps that reduce further efforts with the wiring. Such oil pumps are gaining prominence in battery EVs, commercial vehicles, and off-highway applications.

12V Electric Pumps with Wet Rotor Design Prevents Dynamic Seal Failure

Improved thermal management for longer high performance duty cycles is being preferred by automakers. Concentric AB— a supplier of diesel engine oil pumps, has announced to join forces with ZF Friedrichshafen AG— a Germany-based car parts maker to develop new electric oil pumps that are suitable for 12V supply. Apart from 24V electric oil pumps, manufacturers in the automotive electric oil pump market are innovating in 12V electric oil pumps, as its wet rotor design prevents dynamic seal failure.

Intelligently packaged and low noise electric pump designs are creating revenue opportunities for companies in the automotive electric oil pump market. Brushless DC motor designs with 12V supply are revolutionizing electric mobility. Growing concerns about vehicle emissions are boosting the demand for EVs, whilst fueling the demand for electric oil pumps.

automotive electric oil pump market infographic

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Analysts’ Viewpoint

Germany-based automakers and Tesla witness a spike in newly registered electric vehicles amid the ongoing COVID-19 pandemic. Smart functions such as connectivity and virtual sensors combined with electric drivetrains are being introduced by companies in the automotive electric oil pump market to meet new mobility requirements. However, there is a need to omit the need for wiring in electric drivetrains. Hence, companies should increase their R&D activities to integrate sensors in electronic transmission oil pumps that reduce further efforts with the wiring. Hydraulic circuits, integrated designs, and connectivity through virtual sensors are bringing about significant changes in the market landscape. High efficiency and lowering of noise vibration harshness levels are being preferred by automakers.

Automotive Electric Oil Pump Market: Overview

  • The global automotive electric oil pump market is anticipated to expand at a CAGR of ~24% during the forecast period, owing to rising concerns about the environment and carbon emission across the globe. Increase in global carbon footprint and stringent emission norms are driving the preference of the automotive industry toward electric vehicles, which is likely to increase the demand for electric oil pump in vehicles.
  • Rise in demand for fuel-efficient vehicles coupled with stringent emission limits has prompted manufacturers to install electric oil pumps in their vehicles, which is anticipated to significantly propel the automotive electric oil pump market across the globe. Increase in sales of vehicles across the globe due to decline in tax rates on vehicles is also a key factor fueling the demand for electric oil pumps in vehicles.

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.

Segmentation of Automotive Electric Oil Pump Market

  • The global automotive electric oil pump market has been segmented based on vehicle type, propulsion, application, sales channel, and region
  • Based on propulsion, the electric vehicle segment dominated the global automotive electric oil pump market. Electric oil pump is a basic component of the electric vehicle, as all electric vehicles contain an electric oil pump. Electric oil pumps are directly run through the battery and not via the engine, which provides EVs an upper hand in usage of electric oil pumps.
  • Based on application, transmission oil pump and brake oil pump are estimated to be prominent segments of the global automotive electric oil pump market during the forecast period. Rise in demand for electric vehicles is likely to increase the penetration of transmission and braking oil pumps in vehicles. However, the engine oil pump segment also held a significant share of the global market in 2020. It is projected to contract during the forecast period due to a rise in the demand for electric vehicles across the globe.

Regional Analysis of Automotive Electric Oil Pump Market

  • Based on region, the global automotive electric oil pump market has been segregated into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
  • Europe and Asia Pacific are projected to be highly lucrative markets during the forecast period. Rapid expansion of manufacturing industries across Asia Pacific is anticipated to propel the automotive electric oil pump market across the region. Europe has major presence of well-established manufacturers and suppliers who have advanced research and development facilities regarding electric oil pump, which is likely to boost the automotive electric oil pump market across Europe.

Automotive Electric Oil Pump Market: Competition Landscape

  • Key players operating in 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
    • SHW AG
  • Key players operating at the global level are expanding their footprint by engaging in mergers and acquisitions with several players in the industry. On December 22, 2020, LG Electronics and Magna International Inc. announced a joint venture (JV) to manufacture e-motors, inverters, and onboard chargers and, for certain automakers, related e-drive systems to support the growing global shift toward vehicle electrification. On May 16, 2018, Nidec and Groupe PSA entered into a JV for the production of automotive electric traction motors. The joint venture engages in the development, manufacture, and sale of automotive electric traction motors.

Automotive Electric Oil Pump Market – Scope of the Report

Transparency Market Research’s recent report on the automotive electric oil pump market, with the help of a comprehensive outlook, provides readers with an assessment of the global market landscape. This study on the automotive electric oil pump market analyzes the scenario for the period of 2017 to 2031, wherein, 2020 is the base year and 2019 and before is historical data. This report enables readers to make important decisions with regard to their business, with the help of a wealth of Information enclosed in the study.

This TMR study on the automotive electric oil pump market also provides data on the developments made by important players and stakeholders in the market, along with a competitive analysis. The report also provides an understanding of strengths, weaknesses, threats, and opportunities, along with the trends and restraints in the landscape. Presented in a clear sanctioned manner, this report on the automotive electric oil pump market gives readers an individual understanding of the market.

Key Questions Answered in This Report on Automotive Electric Oil Pump Market

  • How much value will the automotive electric oil pump market generate by the end of the forecast period?
  • Which segment of the market is likely to have the maximum market share by 2031?
  • What are the impact factors and their effects on the market for automotive electric oil pumps?
  • What regions currently contribute the maximum share to the overall automotive electric oil pump market?
  • What are the indicators expected to drive the automotive electric oil pump market?
  • What region is likely to be a lucrative market during the forecast period?
  • What are the essential strategies by key stakeholders in the automotive electric oil pump market to expand their geographic presence?
  • What are the major advancements witnessed in the automotive electric oil pump market?
  • How regulatory norms affected the market for automotive electric oil pump market?

This report answers these questions and more about the automotive electric oil pump market, aiding major stakeholders and key players in making the right decisions and strategizing for the advancement of their business.

Automotive Electric Oil Pump Market – Research Methodology

This TMR report on the automotive electric oil pump market is based on a complete and comprehensive evaluation of the market, backed by secondary and primary sources. Market volume is determined by country wise model mapping of vehicle through internal & external proprietary databases, and relevant patent and regulatory databases. The competitive scenario of the automotive electric oil pump market is supported by an assessment of different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data, current trends and announcement by key players, researchers of the automotive electric oil pump market arrive at predictions and estimations, and calculate the forecast for the market.

This report uses an analytical triangulation method to estimate the numbers and figures of the automotive electric oil pump market, with both bottom-up and top-down approach.

This detailed assessment of the automotive electric oil pump market, along with an overview of the landscape, is provided based on a careful examination of the avenues related to this industry. Analysts’ conclusions on how the automotive electric oil pump market is estimated to expand are based on carefully vetted primary and secondary sources.

Automotive Electric Oil Pump Market – Segmentation

This report on the automotive electric oil pump market provides information on the basis of vehicle type, propulsion, application, sales channel, and region.

Vehicle Type

  • Passenger Vehicles
  • Light Commercial Vehicles
  • Medium & Heavy Duty Trucks
  • Buses & Coaches
  • Off-road Vehicles

Propulsion

  • Electric Vehicle
  • IC Engine Vehicle

Application

  • Transmission Oil Pump
  • Engine Oil Pump
  • Brake Oil Pump

Sales Channel

  • OEM
  • Aftermarket

Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

This study also discusses the underlying trends and impact of various factors that are driving the automotive electric oil pump market, along with their influence on the evolution of the market.

This study also offers Porter’s Five Point Analysis, value chain analysis, regulatory scenario, and a SWOT analysis of the automotive electric oil pump market in order to elaborate the crucial growth tactics and opportunities for market players contributing to the market.

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Automotive Electric Oil Pump Market

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