LOS ANGELES, Feb. 19, 2019 (GLOBE NEWSWIRE) -- QY Research has announced the release of a new publication bearing the title “Global Automotive Water Pump Development Overview 2019.” According to the research study, the global automotive water pump market is anticipated to register a sluggish CAGR of 2.3% during the forecast period 2019-2025. By the end of 2025, the global market revenue is foretold to surpass US$ 3,000 Mn, increasing from that of over US$ 2,500 Mn touched in 2018.
The automotive water pump industry has shown steady development in the last several years. In the next five years, prices are expected to follow a declining trend due to the global economic situation.
High Demand for Fuel Efficient Vehicles to Support Global Market Growth
Electric variants offered in the global automotive water pump market are foreseen to gain demand because of the growing need for improved fuel consumption and vehicle performance. Reduced weight of automotive electric water pump is also expected to increase its demand. High demand for fuel efficient vehicles could be another factor increasing the sales of these variants in the global market.
The demand for well-organized automotive water pump is envisaged to see a rise as a result of the increasing need for eco-friendly solutions in the automotive industry. Rising adoption of automatic transmission, gasoline direct injection, and other advanced automotive technologies is prophesied to set the tone for valuable growth of the global automotive water pump market. On the other hand, increasing vehicle electrification and rising vehicle production are predicted to largely benefit the global market.
The requirement of advanced automotive pumps to control vehicle emission in a time when governments are implementing severe emission norms is prognosticated to increase automotive water pump sales. The global market growth is expected to improve as it rides on the rising production of automatic transmission systems in emerging as well as developed countries.
Global Automotive Water Pump Market: Forecast by Type and Application
On the basis of type, the global automotive water pump market is segmented into electric and mechanical water pumps. Among the two, mechanical water pump accounted for a lion’s share of the global market in the past. By application, the report covers two segments, i.e. commercial vehicle and passenger car. In the past, passenger car collected a larger share of the global market.
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China Dominates Global Automotive Water Pump Market vis-à-vis Consumption and Supply
With a view to study the consumption and production in the global automotive water pump market, the report provides comprehensive market analysis of Japan, China, Europe, and North America. As per the research study, China is the largest consumer as well as the largest supplier of automotive water pump. Europe treads upon the heels of China in terms of both consumption and supply.
Global Automotive Water Pump Market: Key Players
Some of the leading players of the global automotive water pump market are ACDelco, GMB Corporation, Gates Corporation, Continental, Xibeng, Aisin Seiki, Bosch, and KSPG AG. There are 16 players covered in the report on the basis of market share, revenue, ex-factory price, and production capacity.
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