Electric Mobility Sparks Future Growth Prospects Amid Industry Downturn Due to COVID-19
The COVID-19 crisis has had a multifaceted impact on the automotive industry, which has led to a significant decrease in vehicle production and inventories. However, electric mobility is gaining momentum, and is creating long-term value grab opportunities for companies in the automotive electric oil pump market. Manufacturers are expanding their businesses in China, since the country has one of the highest numbers of e-car fleets, followed by the U.S.
In 2021, industry expects sales to continue to recover. However, it is anticipated that it could even take up to 3-5 years for the automotive industry to return to its normalcy, based on downturns incurred in the year 2020, due to the coronavirus outbreak. As such, newly registered passengers in electric mobility are predicted to keep economies running in the automotive electric oil pump market.
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New Electric Oil Pumps Ensure Good Performance at Low Oil Temperatures
The automotive electric oil pump market is slated to clock as astonishing CAGR of ~24% during the forecast period. However, there is a need for electric oil pumps that overcome the problem of low torque at low speeds to ensure good performance even at very low oil temperatures. Hitachi Automotive Systems Americas, Inc. has recognized this issue and is gaining proficiency to develop electric oil pumps that cool the transmission in a hybrid car.
Companies in the automotive electric oil pump market are developing systems that maintain the oil pressure in the transmission while the engine is at halt.
Custom Designed Electric Oil Pumps Enhance Energy Efficiency in EVs
Smart solutions for actuation, lubrication, and cooling in electric vehicles (EVs) are translating into revenue opportunities for manufacturers in the automotive electric oil pump market. Bosch Mobility Solutions is gaining popularity for its electric oil pumps that are compact, optimize pumping elements, and lower noise vibration harshness. Companies in the automotive electric oil pump market are tapping into incremental opportunities in India, since Tata Motors, Mahindra Group, and Maruti Suzuki India Limited have announced to launch of EVs under INR 15 lacs for Indian buyers.
Modular power classes and hydraulic components in oil pumps are revolutionizing electric mobility. Custom designed electric oil pumps are enabling automated transmission lubrication and cooling. With fully integrated design pumps, motors, and electronic control units, the result is energy savings.
Electronic Transmission Oil Pumps Eliminating Need of Electrolytic Capacitors
The automotive electric oil pump market is expected to exceed the valuation of US$ 76.4 Bn by 2031. Intelligent transmission oil pumps for high performance applications have the potential to fully replace mechanical pumps. Vitesco Technologies – a producer of efficient electrification technologies for vehicles is developing electronic transmission oil pumps that are eliminating the need of electrolytic capacitors.
Manufacturers in the automotive electric oil pump market are increasing their R&D muscle to integrate sensors in electronic transmission oil pumps that reduce further efforts with the wiring. Such oil pumps are gaining prominence in battery EVs, commercial vehicles, and off-highway applications.
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12V Electric Pumps with Wet Rotor Design Prevents Dynamic Seal Failure
Improved thermal management for longer high performance duty cycles is being preferred by automakers. Concentric AB— a supplier of diesel engine oil pumps, has announced to join forces with ZF Friedrichshafen AG— a Germany-based car parts maker to develop new electric oil pumps that are suitable for 12V supply. Apart from 24V electric oil pumps, manufacturers in the automotive electric oil pump market are innovating in 12V electric oil pumps, as its wet rotor design prevents dynamic seal failure.
Intelligently packaged and low noise electric pump designs are creating revenue opportunities for companies in the automotive electric oil pump market. Brushless DC motor designs with 12V supply are revolutionizing electric mobility. Growing concerns about vehicle emissions are boosting the demand for EVs, whilst fueling the demand for electric oil pumps.
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