The latest report published by IMARC Group, titled “Automotive Electric Water Pump Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on automotive electric water pump market forecast. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global automotive electric water pump market size reached US$ 3.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 10.3 Billion by 2032, exhibiting a growth rate (CAGR) of 12.92% during 2024-2032.
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Factors Affecting the Growth of the Automotive Electric Water Pump Industry:
- Increasing Demand for Fuel Efficiency and Stringent Emission Norms:
Electric water pumps are pivotal in this context, as they play a crucial role in managing engine temperature efficiently, leading to reduced fuel consumption and lower emissions. Electric water pumps can be operated independently of the engine speed, allowing precise control of the coolant flow based on the engine’s cooling needs. This efficiency translates to better fuel economy and helps automobile manufacturers comply with increasingly strict emissions standards. Moreover, as governments worldwide implement tougher regulations to combat climate change, the demand for vehicles equipped with advanced technologies, including electric water pumps is expected to rise, providing a significant push to the market.
- Rise in Electric Vehicle (EV) Popularity:
Electric vehicles rely heavily on efficient thermal management systems to maintain battery and motor performance. Electric water pumps are integral to these systems, offering precise control over coolant flow and optimizing the thermal management of EVs. As the global automotive industry shifts towards electrification, increased by governmental policies, environmental concerns, and advancements in battery technology, the demand for electric water pumps is expected to skyrocket. These pumps enhance the operational efficiency of EVs, extend battery life, and improve overall vehicle performance.
- Technological Advancements and Integration of Advanced Driver-Assistance Systems (ADAS):
The automotive industry’s rapid technological evolution, characterized by the integration of advanced driver-assistance systems (ADAS) and the move towards autonomous vehicles, plays a significant role in driving the demand for automotive electric water pumps. These pumps are crucial for maintaining optimal temperature conditions in vehicles, which is essential for the reliable operation of electronic components and systems that are integral to ADAS and autonomous driving technologies. The precision and efficiency provided by electric water pumps enable better control of the vehicle’s thermal management system, ensuring that sensors, cameras, and other critical components function within their ideal temperature range.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Aisin Corporation
- Behr Hella Service GmbH (Mahle Group)
- BLDC Pump Co Ltd.
- Continental AG
- Davies Craig Pty Ltd.
- Gates Corporation
- Hitachi Astemo Americas, Inc
- Johnson Electric Ltd.
- Rheinmetall Automotive AG
- Robert Bosch GmbH
- Schaeffler AG
- Valeo SA
Automotive Electric Water Pump Market Report Segmentation:
By Vehicle Type:
- Passenger Car
- Commercial Vehicle
- Electric Vehicle
Passenger cars represented the largest segment due to their high global production and sales volumes, along with the increasing integration of advanced cooling systems, such as electric water pumps for improved engine efficiency and reduced emissions.
By Pump Type:
- 12V
- 24V
12V represented the largest segment as it is the standard specification in most passenger vehicles, offering adequate power for the cooling system’s needs while being energy-efficient, cost-effective, and compatible with the vehicle’s electrical system.
By Application:
- Engine
- Turbocharger
- Battery
- Others
Turbocharger represented the largest segment as electric water pumps are crucial for cooling turbocharged engines, preventing overheating and thereby enhancing engine performance, longevity, and efficiency.
By Sales Channel:
- OEMs
- Aftermarket
OEMs represented the largest segment, attributed to the initial installation of automotive electric water pumps in new vehicles, ensuring compatibility, reliability, and adherence to automotive standards.
Regional Insights:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Asia Pacific was the largest market, driven by the high vehicle production rates, increasing adoption of advanced automotive technologies, and the presence of major automotive manufacturers in countries such as China, Japan, and South Korea.
Automotive Electric Water Pump Market Trends:
The aftermarket for automotive components presents a significant opportunity for the growth of the electric water pump market. As vehicles age, the need for replacement parts increases, including water pumps for engine cooling systems. Electric water pumps, known for their durability and efficiency, are becoming a preferred choice for replacements due to their longer lifespan compared to traditional mechanical pumps and their ability to improve vehicle fuel efficiency and reduce emissions. Additionally, the growing trend of vehicle customization and upgrading, especially among enthusiasts looking to enhance performance and efficiency, further augments the demand in the aftermarket sector.
Key highlights of the report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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