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Thursday, May 19, 2022

Global Automotive Electric Water Pump Market to be Driven by the Rising Inclination towards Environmentally Friendly Automotive Equipment in the Forecast Period of 2022-2027

The new report by Expert Market Research titled, ‘Global Automotive Electric Water Pump Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global automotive electric water pump market, assessing the market based on its segments like vehicle types, pump types, applications, sales channels, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2017-2027)

  • Historical Market Size (2021): USD 3.1 Billion
  • Forecast CAGR (2022-2027): 27%
  • Forecast Market Size (2027): USD 6.9 Billion

The increasing number of vehicles owing to the improved living standards and the inflating disposable income is driving the growth of the automotive electric water pump industry. The growing adoption of electric vehicles in which electric water pump is used, is leading to the incremental development of the industry. This is because of the increasing awareness of the detrimental effects of fuels, such as carbon emission and stringent government regulations. Moreover, the numerous benefits of electric water pumps, such as thermal management and saving cost due to the reduced use of fuels, are also significantly catalysing the market growth. All these factors provide impetus to the development of the automotive electric water pump industry.

Industry Definition and Major Segments

The automotive electric water pump is fully electric, and it regulates the heat produced by the engine by managing the circulation of the coolant within the closed heating and cooling system. The electric water pump ensures that there is no thermal damage to the engines as a result of exposure to high temperatures.

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The automotive electric water pump industry, by vehicle type, is divided into:

  • Passenger Cars
  • Light Commercial Vehicles
  • Electric Vehicles

Based on pump type, the market is classified into:

  • 12V
  • 24V

On the basis of application, the market is segmented into:

  • Engine
  • Turbocharger
  • Battery
  • Others

Based on sales channel, the market can be bifurcated into:

  • OEMs
  • Aftermarket

The regional markets of automotive electric water pump include:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Market Trends

The stringent government regulations to save the environment from the harmful emissions of fuels are contributing to the growth of the industry. For instance: the aim of the United Nations Climate Change Conference declaration is that all the vehicles sold are zero-emission by 2040 or earlier. In addition, the rising consumption of fuel is leading to declining fuels, posing a threat to the future of the world economy. These factors are bolstering the automotive electric water pump industry as the product prevents unnecessary fuel by cooling down the engine. Moreover, the holistic and innovative products offered by the leading industry players to escalate their market potential is augmenting the industry’s growth. Schaeffler Technologies AG & Co. offers electric water pumps characterised by exact controllability and are entirely separated from the engine speed. They are reliable and durable and can operate in a constantly changing environment. The technological advancements in hydraulics, electronic engines, and research activities to improve the performance of automotive electric water pumps are expected to invigorate the market in the forecast period.

Key Market Players

The major players in the market are Schaeffler Technologies AG & Co. KG, Continental AG, Robert Bosch GmbH, Rheinmetall Automotive AG, Gates Corporation, BLDC Pump Co., Ltd., Davies, Craig Pty Ltd, Valeo SA, Behr Hella Service GmbH, and Hanon Systems, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company’s expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.


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