Automotive Electric Water Pump Market – Global Industry Analysis and Forecast (2023-2029)

Automotive Electric Water Pump Market reached a value of US $ 15.41 Bn. in 2022. Global Automotive Electric Water Pump Market size is estimated to grow at a CAGR of 4.2%. The market is expected to reach a value of US $ 20.56 Bn in 2029.
Automotive Electric Water Pump Market Overview:
A motor and battery power an automobile electric water pump, which controls the volume flow required by the engine. Demand-driven cooling, which is most effective during the cold-start period, reduces fuel consumption and emissions. The automotive electric water pump controls the volume flow of water for the engine and other vehicle components such as power electronics on demand. For passenger and light-duty cars, the electric water pump is also utilized to cool turbocharged air. A manually operated water pump uses 90% less energy than an electric water pump. In comparison to a mechanical water pump, an electric water pump has various advantages, including lower emissions, improved engine temperature management, elimination of engine heat sock, and increased engine life.To know about the Research Methodology:- Request Free Sample Report
Automotive Electric Water Pump Market Dynamics:
Engine downsizing is becoming more popular:

Engine downsizing, which is accomplished by the use of updated technologies like as turbochargers, superchargers, and direct injection technology, is one of the most current trends in the automobile industry. Small engines with power equivalent to or greater than conventional engines are becoming increasingly popular among OEMs. Smaller engines reduce the vehicle's overall weight and, as a result, enhance fuel efficiency in both gasoline and diesel engines. For example, instead of a 6-cylinder engine, most Mercedes-Benz and BMW cars today are fitted with a 4-cylinder engine. A four-cylinder engine increases the amount of pressure necessary in the engine to provide the same amount of power as a larger engine while being more efficient. OEMs are also seeking to reduce engine size in order to fulfil government emission standards.

In the forecast years, electric vehicles are expected to rise in popularity:

Electric vehicles have developed as a viable alternative to traditional gasoline-powered automobiles, especially in urban regions and cities. These vehicles are non-polluting and do not emit dangerous gases into the atmosphere. As a result, many countries' regulatory bodies are adopting steps to boost the adoption of electric vehicles, such as battery electric vehicles. The European passenger automobile market has the highest demand for electric vehicles, followed by Asia and North America.

Sales of plug-in hybrid electric vehicles are increasing rapidly:

A plug-in hybrid electric vehicle (PHEV) is an electric vehicle with an onboard internal combustion engine-powered generator that can be recharged by inserting a charging cable into an external electric power source. There are a number of PHEVs in the passenger car segment, but there are also PHEV versions of vans, utility trucks, buses, trains, motorcycles, and mopeds on the market. The characteristics of a PHEV are similar to those of an electric car and a traditional internal combustion engine. Because these cars have a typical IC engine, the fuel pump is used to transport fuel from the tank to the engine, which is then injected into the engine, the rise of this segment is likely to create the attractive potential for the growth of the fuel pumps market.

The cost of electrifying automotive pumps has risen:

As the electrification of automotive components has progressed, the cost of a vehicle has risen. Electronic components such as ECUs, sensors, and microcontrollers with actuators are used to electrify pumps for engine applications. Electrification aids in vehicle weight reduction and compliance with rigorous pollution regulations. Electric components outperform mechanical components while being less reliable than mechanical components due to intricate high voltage circuits and inductive losses.
Automotive Electric Water Pump Market Segment Analysis:
Based on Pump Type, the market is sub-segmented into 12V EWP and 24V EWP. The 12V EWP segment was dominating the market in 2022. Because 12V EWPs are used in passenger automobiles, the 12V electric water pump sector has the biggest market share. The 24V electric water pump market is likely to expand as traction cooling systems in heavy-duty hybrid vehicles become more common.

Based on Vehicle Type, the market is sub-segmented into Light commercial vehicles, heavy commercial vehicles, and Passenger Vehicles. The passenger vehicle was leading the market in 2022. The rise in consumer disposable income has fueled demand for passenger automobiles, which has fueled the growth of the automotive pump industry. In the automotive pump market, the passenger car category is expected to have the highest share. The market for automotive pumps in passenger automobiles is predicted to increase rapidly, particularly in Asia Pacific's emerging economies, rising consumer demand for electric cars, as well as significant government adjustments to transportation rules aimed at reducing harmful emissions, are likely to propel the passenger car segment forward.
Regional Insights:
The Asia Pacific region is expected to be the largest market. China and India, two of the world's fastest-growing economies, are part of the region. In addition, the Asia Pacific area is the largest market for automobiles, thanks to rising consumer purchasing power, which has fueled demand for automobiles in the region. In addition, the industry is growing due to rising sales of commercial vehicles and passenger cars in the region. Concerns over environmental imbalances caused by automobile emissions have grown in nations like India, China, Malaysia, and Thailand over the last decade. As a result of these concerns, major automobile manufacturers have shifted their focus to vehicles that consume less fuel. As a result, Asia Pacific is predicted to grow at a slower pace.

The objective of the report is to present a comprehensive analysis of the Automotive Electric Water Pump Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help understand the Automotive Electric Water Pump Market dynamic and structure by analyzing the market segments and projecting the Automotive Electric Water Pump Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Automotive Electric Water Pump Market make the report investor’s guide.
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Automotive Electric Water Pump Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 15.41 Bn.


Forecast Period 2023 to 2029 CAGR:
4.2%
Market Size in 2029:
US $ 20.56 Bn.


 Segments Covered:
by Pump Type
12V EWP
24V EWP


by Vehicle Type
Light Commercial Vehicle
Heavy Commercial Vehicle
Passenger Vehicle


by Sale Channel
OEMs
Aftermarket



by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Automotive Electric Water Pump Market Key Players
1. Continental AG
2. Robert Bosch GmbH
3. Behr Hella Service GmbH
4. VALEO SERVICE.
5. Magna International Inc.
6. KSPG
7. Schaeffier AG
8. DaviesCraig
9. Gates Corporation
10. BLDC Pump Co., Ltd.
11. Rheinmetall Automotive AG
12. AISIN SEIKI Co., Ltd.
13. Hitachi Automotive Systems Americas, Inc.
14. GMB Corporation
15. Schaeffler Group
16. Aisin Seiki Co., Ltd.
17. Concentric AB
18. AIRTEX ASC
19. TBK Co., Ltd.
20. Meko Auto Pvt. Ltd.
Frequently Asked Questions:
1] What segments are covered in the Automotive Electric Water Pump Market report?
Ans. The segments covered in the Automotive Electric Water Pump Market report are based on Pump type, Vehicle type, and sale channel.

2] Which region is expected to hold the highest share in the Automotive Electric Water Pump Market?
Ans. The Asia Pacific region is expected to hold the highest share in the Automotive Electric Water Pump Market.

3] What is the market size of the Automotive Electric Water Pump Market by 2029?
Ans. The market size of the Automotive Electric Water Pump Market by 2029 is expected to reach US $ 20.56 Bn.

4] What is the forecast period for the Automotive Electric Water Pump Market?
Ans. The Forecast period for the Automotive Electric Water Pump Market is 2023-2029.

5] What was the market size of the Automotive Electric Water Pump Market in 2022?
Ans. The market size of the Automotive Electric Water Pump Market in 2022 was valued at US $ 15.41 Bn.