According to a new report by Expert Market Research titled, “Global Automotive Electric Water Pump Market Share, Size, Report and Forecast 2024-2032″, the global automotive electric water pump market size reached a value of around USD 4.05 billion in 2023. Aided by the increasing demand for efficient cooling systems and the shift towards electrification, the market is projected to grow at a CAGR of 14.3% between 2024 and 2032 to reach a value of nearly USD 13.44 billion by 2032.
An automotive electric water pump is a critical component in modern vehicles, designed to circulate coolant through the engine and radiator to maintain optimal operating temperatures. Unlike traditional mechanical pumps, electric water pumps are more efficient, provide better control, and contribute to overall fuel economy. Their ability to operate independently of the engine’s speed allows for precise thermal management, enhancing vehicle performance and reducing emissions.
The automotive electric water pump market growth is primarily driven by the increasing demand for fuel-efficient and environmentally friendly vehicles. As governments worldwide implement stringent emissions regulations, automotive manufacturers are focusing on integrating advanced thermal management systems, including electric water pumps, to meet these standards.
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Additionally, the rising popularity of electric and hybrid vehicles is significantly contributing to the market growth. Electric water pumps are an essential component in the thermal management systems of these vehicles, ensuring optimal battery and motor temperatures for enhanced efficiency and longevity. This is expected to drive the automotive electric water pump market growth.
The market is also benefiting from advancements in automotive technology, such as the development of intelligent cooling systems that utilise sensors and electronic control units (ECUs) to regulate pump speed based on real-time cooling requirements. This not only improves vehicle performance but also extends the life of the engine and other critical components. This is one of the key automotive electric water pump market trends.
Moreover, the increasing adoption of turbocharged engines in passenger cars and commercial vehicles is further propelling the demand for automotive electric water pumps. Turbocharged engines require efficient cooling to prevent overheating, and electric water pumps provide the necessary control and efficiency to maintain optimal temperatures.
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As the global automotive industry shifts towards more sustainable and efficient practices, the role of automotive electric water pumps is becoming increasingly important. These pumps offer several advantages over traditional mechanical pumps, including reduced weight, lower power consumption, and improved engine performance. Additionally, they allow for more precise control of coolant flow, which can lead to better fuel efficiency and reduced emissions.
The automotive electric water pump market expansion is also being fuelled by the increasing adoption of advanced driver assistance systems (ADAS) and autonomous vehicles. These technologies require efficient thermal management to ensure the proper functioning of sensors, cameras, and other electronic components. Electric water pumps, with their ability to operate independently of the engine, are well-suited to meet these cooling requirements.
Furthermore, the trend towards downsizing engines to reduce weight and improve fuel efficiency is driving the demand for automotive electric water pumps. Smaller engines generate more heat and require efficient cooling systems to maintain optimal performance. Electric water pumps can provide the necessary cooling capacity while contributing to overall vehicle weight reduction. This is expected to drive the automotive electric water pump market expansion.
In terms of market challenges, one of the primary concerns is the higher cost of electric water pumps compared to traditional mechanical pumps. However, as production volumes increase and technology advances, prices are expected to decrease, making electric water pumps more accessible to a broader range of vehicle manufacturers.
In summary, the global automotive electric water pump market is set for substantial growth in the forecast period, driven by the increasing demand for fuel-efficient and environmentally friendly vehicles, the rise of electric and hybrid vehicles, and advancements in automotive technology. As the market continues to evolve, electric water pumps are expected to play a pivotal role in enabling more efficient and sustainable thermal management solutions for a wide range of vehicles in the coming years.
Market Segmentation
The market can be divided based on vehicle type, pump type, application, sales channel, and region.
Market Breakup by Vehicle Type
• Passenger Cars
• Light Commercial Vehicles
• Electric Vehicles
Market Breakup by Pump Type
• 12V
• 24V
Market Breakup by Application
• Engine
• Turbocharger
• Battery
• Others
Market Breakup by Sales Channel
• OEMs
• Aftermarket
Market Breakup by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global automotive electric water pump market. Some of the major players explored in the report by Expert Market Research are as follows:
• 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
• Hanon Systems
• Others
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