Automotive Electric Oil Pump Market Size, Trends, Share, Growth, And Opportunity Forecast, 2023 - 2030 Global Industry Analysis By Vehicle Type (Passenger Vehicles, Commercial Vehicles), By Application (Transmission Oil Pump, Engine Oil Pump, Brake Oil Pump ),By EV Type (Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), Plug-In Hybrid Electric Vehicle (PHEV)) And By Distribution Channel (OEM, Aftermarket), and By Geography (North America, Europe, Asia Pacific, South America, And Middle East & Africa)

The global automotive electric oil pump market was valued at USD 18,103.5 Million in 2022 and is anticipated to reach a value of USD 25,695.3 Million by 2030 expanding at a CAGR of 4.6% between 2023 and 2030.

An electric oil pump intelligently circulates lubricant or oil under pressure, allowing for autonomous and electrical control of the fluid flow. This fluid flow system prevents machine breakdown by lubricating, cooling the engine, reducing wear and tear, and reducing friction. Vehicle engine efficiency is increased when an electronic oil pump is used. Because an improperly operating oil pump can cause significant losses in the performance of several systems, including the engine, gearbox, and brakes, electric pumps are recommended over traditional pumps. With minimum noise and vibration, minimal power consumption, and excellent fuel efficiency, an electric oil pump maintains the ideal oil pressure. It is powered by an electric motor. The market for vehicle electric oil pumps has been impacted by this. In order to comply with environmental rules and consumer demand for more environmentally friendly automobiles, the automotive industry has been concentrating more and more on enhancing fuel economy. In order to do this, electric oil pumps lower the engine's parasitic losses.

Automotive Electric Oil Pump Market Major Driving Forces

Requirement for Fuel Efficiency: Decreasing petroleum resources and the growing environmental impact of burning fuel have compelled automobile manufacturers to comply with fuel-efficient conventional as well as hybrid vehicles. In addition to lowering parasitic losses and improving engine performance, electric oil pumps also improve fuel efficiency overall.

Rise of Electric and Hybrid Vehicles: The market for electric and hybrid automobiles is expanding, which has increased demand for electric oil pumps. These pumps are essential for enabling features such as start-stop systems and maximizing the efficiency of electric drive systems.

Growing Emphasis on Sustainability: As customer tastes and environmental concerns change, sustainability has emerged as a critical factor in many businesses. Businesses are putting more and more emphasis on sustainable practices, such as cutting carbon emissions, using eco-friendly products, and implementing the concepts of the circular economy.

Government Initiatives: To lower automobile emissions, governments everywhere are offering financial incentives for the purchase of battery-electric vehicles. Consequently, this drives the market for automotive electric oil pumps, namely the battery electric vehicle sector.

Automotive Electric Oil Pump Market Key Opportunities

Eco-Friendly and Sustainable Option: The increasing demand for eco-friendly products presents an opportunity for the automotive electric oil pump market to develop and promote sustainable option. The ecologically friendly nature of automotive electric oil pump is opening up the opportunities for this market.

Technological Innovations: The desire to modernize automobiles and the automotive industry's rapid pace of invention and development are driving rising demand for both passenger and commercial vehicles. For automakers of vehicle electric oil pumps, this is expected to present substantial market potential.

Combination with Thermal Management Systems: Combining electric oil pumps and thermal management systems in cars can lead to improved efficiency. Particularly in electric and hybrid cars, effective heat management enhances total vehicle economy.

Automotive Electric Oil Pump Market Key Trends

·         The increasing popularity of electric and hybrid cars is fueling the need for electric oil pumps, which are necessary to maximize the efficiency of electric drivetrains.

·         The incorporation of electronic oil pumps in automobiles is being encouraged by a growing emphasis on fuel efficiency.

·         The increasing number of cars equipped with sophisticated start-stop mechanisms aids in preserving oil pressure when engines are switched down.

·         The market is being shaped by continuous improvements in pump technology, such as increased durability, efficiency, and integration.

·         Manufacturers of electric oil pumps and original equipment manufacturers (OEMs) are working together to produce solutions that are specifically suited to meet the needs of individual vehicles.

Region-wise Market Insights

Asia-Pacific accounted for the largest market share at 45.5% in 2022 again, Asia Pacific is also expected to register the fastest growth, expanding at a CAGR of 5.1% between 2023 and 2030.

Asia-Pacific region not only accounts for the highest market share of 45.5% which is USD 8237.1 Million but is also registering the fastest growth rate of 5.1% CAGR. There are various reasons that are pivotal in driving the market in the Asia-Pacific region. With a strong focus on sustainable and fuel-efficient vehicles due to the growing depletion of petroleum reserves and the environmental impact of fuel combustion, the governments in these regions are adopting strict emission standards to address environmental concerns. Hybrid and electric car use has increased dramatically in the Asia-Pacific region. These cars' electric oil pumps are essential parts that increase the effectiveness of hybrid and electric drivetrains. Europe and North America account for 23.2% and 20.1% of market share respectively. There is a noticeable uptake of electric and hybrid automobiles in these areas. When it comes to maximizing these cars' performance and enabling functions such as regenerative braking, electric oil pumps are essential.         

Market Competition Landscape

One of the key characteristics of the global automotive electric oil pump market is the fierce rivalry between several vendors. To get an advantage over their competitors, major companies in the automobile electric oil pump industry employ several techniques. These tactics include product innovation, design distinction, and the use of sustainable and eco-friendly materials in order to adjust to shifting consumer demands. Long-standing brands rely on their reputation for reliability and quality to maintain market dominance while emerging challengers focus on novel technologies and unique selling points. Prominent players in the market include:

·         Denso Corporation

·         Robert Bosch GmbH

·         Johnson Electric Holdings Limited

·         Magna International Inc.

·         Hitachi Automotive Systems

·         Mitsubishi Electric Corporation

·         SHW Automotive GmbH

·         FTE automotive GmbH

·         Nidec Corporation

·         Infineon Technologies AG

·         Continental AG

·         Aisin Seiki Co., Ltd.

·         BorgWarner Inc.

·         Goss International

·         Mahle GmbH

·         Delphi Technologies (now part of BorgWarner)

·         Hanon Systems

·         Sogefi Group

·         Hitachi Automotive Electric Motor Systems

·         Valeo S.A.

Denso Corporation is a multinational producer of automobile components with its headquarters located in Kariya, Aichi Prefecture, Japan. Denso is a manufacturer of electric oil pumps among other automobile components. They supply cutting-edge technology for car systems and are well-established in the industry. With its headquarters located in Tokyo, Japan, Mitsubishi Electric Corporation is a worldwide electronics and electrical equipment manufacturer. They provide a variety of automotive parts, and among them are electric oil pumps that increase system efficiency in cars.