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Global Automotive Electric Water Pumps Market Growth Is Expected To Be Driven By Rising Demand For Engine and Turbocharger

November 12, 2019 GMT

Pune, Maharashtra, November 12, 2019 (Wired Release) Prudour Pvt. Ltd. The Global Automotive Electric Water Pumps Market was valued at US$ 912.3 Mn in 2018 and is expected to reach US$ 1,725.2 Mn by 2028 at a CAGR of 6.6%.

Electric water pumps operate on battery and motor power for cooling engines, which helps to minimize load on engines. Electric water pumps are part of a growing number of new generation vehicles, where demand for higher efficiency engines is on the rise. Apart from providing standard engine cooling, they reduce engine load and can be controlled by sensors to provide the necessary amount of coolant during operations. Certain new vehicles use up to three pumps for various systems including cabin heating, turbocharger and battery system cooling. Electric water pumps are essential for heavy engines, owing to their outstanding performance for cooling, as well as in aiding the smooth functioning of vehicles.

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A major segment of passenger cars is still dependent on mechanical water pumps, which are attached with the drive via a belt, whereas electric water pump controls the cooling of the engine electronically. Working of electric water pumps is not dependent on the rotation speed of the engine, i.e., it does not require direct supply from the engine to operate the pump. Majority of light-duty and passenger vehicles use an electric pump to cool its turbocharged air. Electric water pumps utilize only 10% energy for its operation, as compared to mechanically operated water pumps. Some other advantages of electric water pumps over mechanical water pumps are lower emissions, elimination of engine heat sock, better management of engine temperature and greater longevity of the engine. Electric automotive water pumps are considered more effective in cooling than their predecessors and also help in reducing the radiator size in vehicles.

Global Automotive Electric Water Pumps Market Revenue (US$ Mn), 2018–2028

Significant growth of the automotive industry, particularly in developing economies, is expected to drive the growth of the Global Automotive Electric Water Pumps Market.

Increased focus of automotive OEMs towards providing enhanced technology for fuel efficiency in vehicles, while reducing the carbon footprint on the environment, is expected to increase the adoption of automotive electric water pumps.

However, automotive electric water pumps are comparatively more expensive than conventional mechanical water pumps, which is expected to hinder the growth of Global Automotive Electric Water Pumps Market, to a certain extent. Nonetheless, a significant demand for turbocharged engines in passenger, as well as commercial vehicles globally, provides lucrative opportunities for the manufacturers of electric water pumps.

Global Automotive Electric Water Pumps Market is segmented on the basis of product type, application, and region. On the basis of product type, the market is segmented into 12V EWP and 24V EWP. The 12V EWP segment accounts for the majority share in this market, and the segment is expected to register the highest growth rate over the forecast period. On the basis of application, the market is segmented into Engine, Turbocharger, Battery and Other Applications, in which the Turbocharger accounts for a majority share.

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Global Automotive Electric Water Pumps Market Attractiveness Analysis by Product Type, 2018

On the basis of region, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East Africa. Europe accounts for a majority share in the Global Automotive Electric Water Pumps Market, followed by North America. Asia-Pacific is expected to record the highest growth rate over the forecast period.

The research report on the Global Automotive Electric Water Pumps Market includes profiles of some of the major companies such as Robert Bosch Gmbh, Continental AG, Aisin Seiki Co. Ltd., Rheinmetall AG, Gates Industrial Corporation plc, Behr Hella Service GmbH, Magna International Inc, GMB Corporation, Engineered Machined Products, Hitachi Ltd., Sanhua Holding Group Co. Ltd., etc

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