Global Electric Oil Pump market will reach 1,060 million US$ by the end of 2025

Publisher: QYResearch
Published Date: 2019/8/29

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.

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.

Click to view the full report:
https://www.qyresearch.com/index/detail/483164/global-electric-oil-pump-market
This article was first released by QYResearch, if reproduced, please indicate the source.
Telephone number:020-86655165
Contact:press@qyresearch.com
When contacting, please refer to QYR company's Mia introduction.