A new publication released by QY Research offers deep insights into the growth of the global electric oil pump market. Titled “Global Electric Oil Pump Market Professional Survey Report 2018,” the report stretches across different subjects of interest such as competition, market dynamics, segmentation, geographical analysis, and growth projections. According to the research analysts, the global electric oil pump market is likely to expand at a stupendous CAGR of 22.0% between 2018 and 2025. By the end of the forecast year, the global electric oil pump market is expected to touch a US$ 1,060 Mn valuation, increasing from a US$ 220 Mn earned in 2017.
Global Electric Oil Pump Market: Drivers
The global electric oil pump market is prognosticated to gather pace with the rise of the automotive industry. Increase in the production of vehicles, especially in countries where population growth is on the higher side, could propel the demand in the global electric oil pump market. A number of countries witness the implementation of stringent regulations to reduce emissions. This has compelled automakers to improve electric mobility, which is envisaged to work in the favor of the global electric oil pump market.
The need for cleaner road transport system could be another factor which is responsible for the growth of global electric oil pump market. Policymakers and governments are putting in strong efforts to deploy such systems in their countries.
The growing need for automotive technologies that work in line with international laws for emissions control and reduce fuel consumption is foreseen to augur well for the global electric oil pump market. Rising demand for automotive pumps and other vehicle parts and components due to the sharp increase in vehicle production rate could open the door for lucrative opportunities in the global electric oil pump market.
Global Electric Oil Pump Market: Forecast by Application
By application, the global electric oil pump market is classified into electric and hybrid vehicle and start-stop system. Readers are provided with a detailed research study on these applications of electric oil pump.
Global Electric Oil Pump Market: Forecast by Product
On the basis of product, the global electric oil pump market is categorized into integrated and separated pumps. The report provides accurate analysis of the market growth of both the segments.
Global Electric Oil Pump Market: Forecast by Region
Regionally, North America and Europe see a high concentration of the production of electric oil pumps. The consumption of electric oil pump in emerging economies is largely dependent on imports. China and Europe show the largest consumption of electric oil pump as they have the highest number of new energy vehicles. In 2017, China and Europe secured market shares of 30.36% and 28.63% respectively.
Global Electric Oil Pump Market: Key Players
Market leaders such as Rheinmetall Automotive, AISIN SEIKI, FTE automotive, SHW Group, and Nidec Corporation are anticipated to make a mark in the global electric oil pump market. This could be due to their financial power to acquire niche device developers in different parts of the world, superior distribution networks, and strong geographical presence.
Full Report Overview@ https://www.qyresearch.com/index/detail/483164/global-electric-oil-pump-market