United States Electrically Operated Oil Pump Market was valued at USD 0.8 Billion in 2022 and is projected to reach USD 1.4 Billion by 2030, growing at a CAGR of 7.0% from 2024 to 2030.
The US automotive industry is witnessing a significant transformation with the increasing adoption of electrically operated oil pumps. These pumps play a crucial role in enhancing vehicle performance and efficiency, especially in electric and hybrid vehicles. As the demand for electric vehicles (EVs) rises, the market for automotive electric oil pumps is experiencing substantial growth.
In 2023, the global automotive electric oil pump market was valued at approximately $1.62 billion and is projected to reach $7.70 billion by 2030, reflecting a compound annual growth rate (CAGR) of 24.9% during this period. This surge is primarily driven by the growing production and demand for passenger vehicles in emerging markets like India, China, and Brazil. Additionally, stringent government regulations aimed at reducing vehicle emissions are further fueling the adoption of electric oil pumps. citeturn0search10
The integration of electric oil pumps in vehicles offers several advantages, including improved fuel efficiency, reduced emissions, and enhanced engine performance. These pumps are essential components in modern engines, particularly in EVs and hybrid vehicles where traditional engine-driven pumps are either absent or minimally utilized. The rising demand for specialized pumps for coolant, oil, and battery systems in EVs is contributing to the market's expansion. citeturn0search3
Geographically, the Asia Pacific region held the largest market share in 2023, accounting for 57% of the market. The presence of major automobile manufacturers such as Toyota, Hyundai, Honda, and Suzuki in this region, coupled with strong consumer demand for both passenger and commercial vehicles, is driving market growth. citeturn0search0
Looking ahead, the global electrically operated oil pump market is expected to continue its upward trajectory. Projections indicate that the market size will grow from $508 million in 2022 to approximately $1.59 billion by 2029, achieving a CAGR of 17.0% during this forecast period. citeturn0search2
In summary, the US automotive electric oil pump market is experiencing robust growth, propelled by the shift towards electric mobility, stringent environmental regulations, and technological advancements in pump systems. As the industry evolves, these pumps will remain integral to enhancing vehicle efficiency and performance, solidifying their role in the future of automotive engineering.
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Nidec Corporation
SHW Group
Rheinmetall Automotive
AISIN SEIKI
Hanon Systems
Sanhua
FTE Automotive
Mitsubishi Electric
Buehler Motor
Mitsuba Corporation
LG Innotek
Yamada
EMP
Hitachi Astemo
EBM Papst
Fuxin Dare
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the US Electrically Operated Oil Pump Market
Gear Pump
Vane Pump
Diaphragm Pump
Piston Pump
Electric Motor
Battery Powered
Automotive
Aerospace
Industrial Machinery
Marine
Oil and Gas
Low Flow Rate
Medium Flow Rate
High Flow Rate
Hydraulic Systems
Fuel Transfer
Lubrication Systems
Cooling Systems
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the US Electrically Operated Oil Pump Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. US Electrically Operated Oil Pump Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. US Electrically Operated Oil Pump Market, By Type
6. US Electrically Operated Oil Pump Market, By Application
7. US Electrically Operated Oil Pump Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. US Electrically Operated Oil Pump Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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