Albany, NY -- (SBWIRE) -- 08/21/2018 -- Automotive oil pump systems are primarily employed in vehicles. The oil pump, besides enhancing fuel efficiency and increasing the life of the engine, is an imperative component, as it reduces the wear and tear of the vehicle components. Every Internal Combustion engine vehicle is equipped with an automotive oil pump for the lubrication of its components. Based on mechanism, oil pumps can be bifurcated into mechanical oil pump and electric oil pump. An electric oil pump is driven by an electric motor and is used to maintain the oil pressure and lubricate the automobile components during engine stop in stop-start vehicles. Electric oil pumps are used in hybrid electric vehicles and vehicles with the idling start-stop system. These pumps can supply oil even when the engine is switched off, and are characterized by high oil-pressure, high-voltage, and high-flow rate. Electric oil pumps, themselves, are internal gear pumps with improved bearing construction designed to minimize torque loss. These pumps also produce less noise and vibration due to reduced gear vibration.
The electric oil pump is highly compact and lightweight, which enhances the performance of the engine. Implementation of rigid emission regulation by regulatory authorities and high demand for fuel efficiency are expected to increase the demand for electric pumps during the forecast period. Increase in utilization of battery electric vehicles is likely to be a major restraint of the automotive electric oil pump market. Governments of countries such as China and countries in Europe are increasingly encouraging the utilization of electric vehicles with low-emission by providing subsidies and incentives such as tax exemptions and designated parking spaces.
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The global automotive electric oil pump market can be divided based on application, discharge type, displacement type, vehicle type, sales channel, and region. In terms of application, the automotive electric oil pump market can be classified into transmission oil pump, and three other segments. Electric transmission oil pumps aid in reducing fuel consumption and CO2 emission. Demand for transmission oil pumps is not likely to be hampered due to the introduction of battery electric vehicles. Therefore, the segment is likely to expand at a sluggish pace and is expected to hold a prominent share of the market by the end of the forecast period.
Based on discharge type, the automotive electric oil pump market can be segregated into vane pump and three other segments. In terms of displacement type, the automotive electric oil pump market can be bifurcated into fixed oil pump and variable oil pump. The variable oil pump segment is projected to expand at significant pace during the forecast period.
Based on vehicle type, the automotive electric oil pump market can be divided into passenger vehicles and commercial vehicles. The commercial vehicles segment can be further sub-segmented into light commercial vehicles, heavy commercial vehicles, and buses & coaches. In terms of sales channel, the automotive electric oil pump market can be split into OEM and aftermarket.
Based on region, Asia Pacific is likely to hold a prominent share of the global automotive electric oil pump market due to high vehicle production in the region. The market in Latin America is anticipated to expand at a substantial growth rate during the forecast period. GDP of countries in Latin America is expanding at a significant growth rate. Moreover, increase in the number of production plants for passenger and commercial vehicles due to high demand for these vehicles and presence of rapidly expanding economies such as Mexico and Brazil are anticipated to drive the market in the region.
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The light commercial vehicles sub-segment of the market in North America is expanding at substantial pace due to extensive usage of these vehicles to transport daily goods in the region. Electric oil pumps are extensively utilized in light duty vehicles. This is anticipated to propel the electric oil pump market during the forecast period in North America.
Key players operating in the global electric oil pump market include FTE automotive, Hitachi Automotive, Rheinmetall Automotive AG, Johnson Electric, Nidec Corporation, and Mitsubishi Electric.