Wilmington, Delaware, United States, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. -The global automotive electric water pump market is estimated to flourish at a CAGR of 13.45% from 2022 to 2031. Transparency Market Research projects that the overall sales revenue for automotive electric water pump is estimated to reach US$ 7.74 billion by the end of 2031.
A promising driver involves the water pump's role in thermal management. As vehicle architectures evolve, the importance of efficient thermal management grows. Electric water pumps contribute to maintaining optimal engine temperatures, critical for combustion efficiency and component longevity, thereby gaining traction beyond their conventional role.
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The shift towards integrated cooling systems marks an emerging trend. The integration of multiple vehicle cooling functions, including battery and transmission cooling, within a unified system increases the significance of advanced electric water pump solutions capable of managing diverse cooling demands efficiently.
An impactful driver is the Focus on Noise, Vibration, and Harshness (NVH) reduction. Electric water pump technologies that offer quieter operation and minimize vibrations become sought-after attributes, aligning with the industry's emphasis on enhancing the driving experience and vehicle refinement.
Automotive Electric Water Pump Market: Competitive Landscape
The automotive electric water pump market displays fierce competition driven by key players like Bosch, Aisin Seiki, and Continental AG. These industry giants lead by offering innovative electric pump solutions, enhancing engine efficiency and reducing fuel consumption.
Emerging contenders such as Johnson Electric and GMB Corporation intensify competition through advanced electric pump technologies and cost-effective solutions. Collaborations for research, development, and strategic mergers augment market presence.
Focus on eco-friendly and energy-efficient electric water pump designs, meeting stringent emission norms, fuels competitive R&D investments, shaping the dynamics of this evolving market. Some prominent manufacturers are as follows:
- Robert Bosch GmbH
- Schaeffler AG
- Hitachi Inc.
- Behr Hella Service GmbH
- Magna International Inc.
- Valeo SA
- Johnson Electric
- ZF Friedrichshafen AG
- Carter Fuel Systems LLC
- DaviesCraig
- Gates Corporation
- Continental AG
- BLDC Pump Co. Ltd.
- Rheinmetall Automotive AG
Key Findings of the Market Report
- The 12V voltage type segment leads the automotive electric water pump market due to its widespread application in various vehicles.
- The engine application segment leads the automotive electric water pump market due to increased demand for engine cooling and efficiency.
- The hybrid/plug-in hybrid electric propulsion segment leads the automotive electric water pump market due to increasing electrification trends.
Automotive Electric Water Pump Market Growth Drivers & Trends
- Increasing emphasis on fuel-efficient vehicles drives the adoption of electric water pumps to reduce engine power consumption.
- Compliance with strict emission norms fuels demand for eco-friendly electric water pump solutions.
- Growing sales of hybrid and electric vehicles escalate the demand for electric water pumps.
- Continuous innovation in pump efficiency and smart technologies enhances automotive performance, boosting market growth.
- Changing automotive trends towards electrification and sustainability drive the need for advanced electric water pump technologies.
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Global Automotive Electric Water Pump Market: Regional Profile
- North America, led by the United States, displays a robust market due to the presence of prominent automotive manufacturers. Stringent emission regulations drive the adoption of electric water pumps for fuel-efficient vehicles. Key players like Bosch and Continental AG spearhead innovations in this region.
- In Europe, countries like Germany and the United Kingdom emphasize eco-friendly automotive technologies. Stricter emission norms and the push toward electric vehicles fuel the demand for electric water pumps. Leading manufacturers such as Aisin Seiki and Pierburg GmbH focus on sustainable pump solutions, aligning with the region's environmental goals.
- The Asia Pacific emerges as a lucrative market with growing automotive production in countries like China and Japan. Increasing vehicle sales, coupled with government initiatives promoting cleaner technologies, drive the adoption of electric water pumps. Companies like Johnson Electric and GMB Corporation offer cost-effective solutions, catering to the region's diverse automotive landscape.
Product Portfolio
- Robert Bosch GmbH innovates in technology and services, offering automotive components, power tools, smart home solutions, and industrial technology. Their diverse portfolio prioritizes quality, efficiency, and sustainability, empowering businesses and consumers worldwide with cutting-edge innovations.
- Schaeffler AG specializes in precision engineering solutions, providing automotive and industrial components, including bearings, clutches, and powertrain systems. Their advanced technologies emphasize reliability, performance, and sustainability, driving innovation across diverse sectors.
- Hitachi Inc. excels in technology and infrastructure solutions, delivering products like railway systems, power equipment, and information technology services. Their portfolio emphasizes innovation, efficiency, and societal impact, contributing to transformative solutions globally.
Automotive Electric Water Pump Market: Key Segments
By Voltage Type
- 12V
- 24V
By Application
- Battery
- Engine
- Turbocharger
- Others
By Propulsion
- IC Engine
- Gasoline
- Diesel
- Electric
- Battery Electric
- Hybrid / Plug-in Hybrid Electric
- Fuel-Cell Electric
By Vehicle Type
- Passenger Vehicle
- Hatchback
- Sedan
- SUVs
- Light Commercial Vehicle
- Heavy Duty Trucks
- Buses and Coaches
By Sales Channel
- OEM
- Aftermarket
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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