Electric Oil Pump Market by Type (Integrated Pump, Separate Pump), By Application (Start-Stop System, Electric and Hybrid System), By Services (Aftermarket, OEM, and Aftersales), By Region (North America, South America, Africa, Asia Pacific, Europe, and the Middle East and Africa), Global forecast, 2021-2031

Electric oil pumps are gaining popularity in the automotive industry. They offer a number of benefits over traditional oil pumps, including increased fuel efficiency and reduced emissions. Technological advancements have enabled manufacturers to provide bespoke solutions for specific needs. The increasing demand for electric vehicles, rising awareness about vehicle emissions, and stringent government regulations on vehicular emissions across countries are the primary drivers of the electric oil pump market. This has led to increased deployment of integrated electric oil pumps, offering improved control and flexibility over conventional mechanical versions. The emergence of novel technologies such as VVT (variable valve timing) has further contributed to the growth of the electric oil pump market.

The electric oil pump market is experiencing strong growth due to the need for more efficient and eco-friendly methods of powering vehicles. Electric pumps provide an alternative to traditional fuel-based engines that are not only cleaner but also require less maintenance. Furthermore, electric oil pumps are becoming more sought after as automakers look for ways to reduce their carbon footprints.

One of the primary drivers of the electric oil pump industry is the rising demand for electric automobiles. As automakers continue to focus on producing more efficient, eco-friendly vehicles, electric oil pumps are becoming increasingly popular. Additionally, start-stop systems and hybrid systems that use electric oil pumps have become popular due to their improved fuel efficiency and reduced emissions. Furthermore, the increasing production of electric vehicles is driving up demand for electric oil pump manufacturers.

Electric oil pumps offer several advantages over traditional oil pumps. They are more energy efficient, need less maintenance, and emit fewer pollutants.

Furthermore, they can be used in start-stop systems and hybrid electric vehicles to improve fuel efficiency. In addition to being portable and easy to install, electric oil pumps are a preferred option among automakers. An electric oil pump is a device that pumps oil through the engine using a pump mechanism that is powered by an electric motor. It works by using an electric motor to push oil through the engine, which helps to lubricate it and keep it running smoothly. They are used in both conventional and hybrid vehicles and can provide improved fuel efficiency as well as reduced emissions.

Electric oil pump manufacturers offer a variety of services, including aftermarket, OEM, and aftersales. Aftermarket services involve providing replacement parts for electric oil pumps that are no longer in production or have been damaged. OEM services involve supplying new electric oil pumps for vehicles produced by the manufacturer. Finally, aftersales services provide assistance with the installation and maintenance of electric oil pumps.

The global electric oil pump market is expected to grow by USD 76.4 Bn by at a CAGR of 24% during the forecast period of 2021-2031.

This growth can be attributed to the increasing demand for eco-friendly vehicles, improving fuel efficiency standards, and new technologies being developed by manufacturers.

The high cost of electric oil pumps is the primary restraint on the electric oil pump market. Additionally, the lack of standardization and compatibility between different types of electric oil pumps can create problems for automakers. A major propelling factor of the electric oil pump market is the introduction and implementation of government regulations that are designed to reduce vehicle emissions. These regulations have led automakers to invest heavily in electric oil pumps in order to meet the new standards. In addition, the growing number of electric vehicles on the road has increased the demand for electric oil pumps.

Major players in the electric oil pump market include Bosch Automotive, Delphi Technologies, Denso Corporation, Johnson Electric Holdings Limited, and NGK Spark Plugs. These firms are substantially spending R&D to provide innovative solutions for electric oil pumps. Additionally, they are also offering aftermarket services to cater to the increasing demand for replacement parts.

Segment Analysis

The integrated pump Type to Emerge as the Most Lucrative Segment

With its increasing use in start-stop systems and hybrid electric cars, the integrated pump category is predicted to develop at the fastest CAGR throughout the projection period. This type of electric oil pump offers improved fuel efficiency and reduced emissions, which makes it a popular choice among automakers. They are also relatively lightweight and simple to install, which adds to their popularity.

The Most Popular Application Segment is the start-stop system

The start-stop system segment is expected to grow at the highest CAGR during the forecast period, due to its ability to improve fuel efficiency and reduce emissions. Electric oil pumps used in start-stop systems are more efficient, require less maintenance, and have lower emissions than traditional pumps — making them a popular choice for automakers.

The aftermarket services to Ensure Revenue Maximization

Due to the sheer growing number of cars in need of electric oil pump replacements, the aftermarket services category is predicted to develop at the fastest CAGR throughout the projection period. Aftermarket services involve providing replacement parts for electric oil pumps that are no longer in production or have been damaged. Additionally, they also provide installation and maintenance services for electric oil pumps.

The Asia Pacific (APAC) region to render Adequate Financing Avenues

Owing to increase demand for electric cars in countries such as India and China, the Asia Pacific region is predicted to develop at the fastest CAGR over the forecast period. Additionally, governments in these countries are introducing stringent regulations that are designed to reduce vehicle emissions and improve fuel efficiency — both of which require the use of electric oil pumps.  Overall, the electric oil pump market is expected to witness significant growth over the forecast period as automakers invest heavily in research and development to develop advanced solutions for electric oil pumps. Additionally, increasing government regulations and the growing demand for eco-friendly vehicles are also driving up demand for electric oil pumps. With these considerations in mind, it is apparent that the electric oil pump business has a promising future.

COVID-19 Impact and Market Status

The global electric oil pump market has been significantly impacted by the COVID-19 pandemic. The disruption in the supply chain due to lockdowns and travel restrictions has resulted in a decrease in demand for electric oil pumps. Additionally, the shortage of raw materials and increased labor costs have also affected production activities. However, when the pandemic economy gets better, the industry is projected to rebound quickly. Analysts are also expecting the electric oil pump market to witness an upturn in demand due to the increasing sales of electric and hybrid cars, as well as start-stop systems which require electric oil pumps. As governments introduce stricter regulations on emissions, automakers are investing heavily in research and development to develop more efficient electric oil pumps. This is projected to propel the market's

Recent Developments in the Electric Oil Pump Market

• lThe electric oil pump market has seen several developments in the past year. Automobile manufacturers plan to invest considerably in research and development to create more efficient electric oil pumps for automobiles. The electric oil pump industry has had a number of notable advances since 2019. Automobile manufacturers are investing considerably in R&D to produce more efficiency.
• lDenso Corporation have developed improved technology for electric oil pumps that can reduce engine friction and fuel consumption. Additionally, manufacturers are working to improve the wear resistance of their goods. In terms of aftermarket services, many companies are offering repair and maintenance services for electric oil pumps to ensure that vehicles remain in optimal condition.

Electric Oil Pump Market Scope

Key Segments of the Global Electric Oil Pump Market

Type Overview, 2021-2031 (USD Billion)

• Integrated Pump
• Separate Pump

Application Overview, 2021-2031 (USD Billion)

• Start-Stop System
• Electric and Hybrid System

Services Overview, 2021-2031 (USD Billion)

• Aftermarket
• OEM
• Aftersales

Regional Overview, 2021-2031 (USD Billion)

North America

• U.S
• Canada

Europe

• Germany
• France
• UK
• Rest of Europe

Asia Pacific

• China
• India
• Japan
• Rest of Asia Pacific

South America

• Mexico
• Brazil
• Rest of South America

Middle East and South Africa

• UAE
• South Africa