Automotive Electric Water Pump Market revenue to hit USD 8 Billion by 2033, says Research Nester

Prominent players in the automotive electric water pump (EWP) market include Continental AG, Schaeffler Group, Hitachi Inc., Gates Corporation, Rheinmetall AG, Robert Bosch GmbH, Magna International Inc., ZF Friedrichshafen AG, BLDC Pump Co. , Ltd., and Behr Hella Service GmbH.

New York, July 20, 2023 (GLOBE NEWSWIRE) — The global automotive electric water pump market is set to expand at ~14% CAGR between 2023 and 2033. The market is poised to earn a revenue of USD 8 billion by the end of 2033 , from a revenue of ~USD 3 billion by the year 2022. The growing demand for vehicles worldwide with increased demand for high heat resistance products that can ensure vehicle safety and reduce wear and tear vehicles is expected to increase market growth over the estimated time period.

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It has been found that less than 70 million units of cars will be sold worldwide in 2021. Furthermore, it is also known that even if the engine of a vehicle runs well without leakage or damage, every 5 -6 months there is a coolant loss of ~ 0.25% is considered normal and therefore the maintenance of the cooling system becomes essential to reduce the chance of vehicle failure.

Automotive Electric Water Pump Market: Key Takeaways

• Market in Asia Pacific to show the highest growth

• The Passenger Vehicle segment to capture the highest growth

• Market in Europe to expand at the highest rate

Increase Vehicle Sales to Promote Market Growth

The increase in global sales of automobiles as well as the increase in demand for luxury cars, luxury SUVs, and other high-speed premium vehicles, along with the increase in demand for 12-volt electric water pump for cars, is expected to boost the growth of the market in the forecast years. It found that sales of light vehicles, which include cars and LCVs, reached more than 56 million in the first nine months of 2022. In addition, the revenue of the US luxury car industry amounted to ~ USD 5 billion in 2021. In addition, it has been found that the automotive water pump is divided into mechanical and electrical. The working principle of the electric water pump includes the use of a controller that determines the circulation of the coolant through the engine in the given temperature ranges, maintaining a target temperature. In addition, while reviewing the various advantages and disadvantages of an electric water pump, market findings favor the adoption of an automotive electric coolant pump because it maintains a target temperature by maintaining adequate cooling down.

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Automotive Electric Water Pump Market: Regional Overview

The market is divided into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.

The Increase in Automotive Production to Drive Growth in the Asia Pacific Region

The market in the Asia Pacific region is estimated to gain the maximum revenue by the end of 2033. The growth can be attributed to the presence of a strong vehicle manufacturing network in the region, which is responsible for the growing production. of vehicles. In 2021, China alone will produce nearly 32% of vehicles. The rise in production in the region is also supported by the vast existence of the population in Asia Pacific as well as the rise of the middle class population in countries such as China and India, which is driving the demand for cars and other vehicles in region, seconding the projection of gusty regional growth in the coming years. It is a known fact that currently China and India are the most populous countries in the world and are in the Asia-Pacific region, which is home to nearly 60% of the world’s population. In addition, China is the leader in car sales with total sales of over 21,000,000 units, while India is the country with the largest growth potential in car sales with an increase of ~27 % in 2021.

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Strict Measures to Curb CO2 Emissions to Boost Regional Growth in Europe

The automotive electric water pump (EWP) market in Europe is estimated to gain the highest CAGR by the end of 2033. With increasing government initiatives to reduce the region’s carbon footprint due to the increase in greenhouse gas emissions from transport sector and the increased awareness of the regional population and car manufacturers about the harmful effects of coolant, there is a growing demand for fuel efficient cars and cars with biodegradable engine coolant and environmentally friendly antifreeze in the region, which in turn is expected to drive the region. market growth in the forecast years. The European Union has publicly stated its intention to reduce more than 50% of greenhouse gas emissions by 2030 and is implementing strict policies to reduce emissions from the transport sector, which has grown to the equivalent of 50 million tons of CO2 in 2020 compared to 1990.
Automotive Electric Water Pump Segmentation by Vehicle Type

The passenger car part of the automotive electric water pump (EWP) market. expected to hold the largest revenue share by the end of 2033. The growth in this segment is primarily attributed to the rapid growth in sales of passenger vehicles along with the demand for light and compact vehicles worldwide . It has been found that India sees an increase of almost 14% in the sales of passenger vehicles by the financial year 2022. Moreover, the growth in the segment can be further attributed to the rising trend of green transportation as well as the adoption of non-toxic antifreeze and the growing demand for advanced parts of powertrains, along with EWP, which moves the car’s coolant from a car’s radiator to all the necessary parts of the powertrain. It is estimated that in 2025, the revenue for air turbochargers for internal combustion engines or diesel engines will hit USD 790 million in Brazil.

Automotive Electric Water Pump Segmentation by Propulsion Type

The electric segment of the automotive electric water pump market is expected to hold the largest revenue by the end of 2033. There is a growing popularity of electric vehicles among the global population due to the stringent emission frameworks adopted in governments, and the increasing adoption of efficient, eco-friendly vehicles that use renewable energy sources are expected to increase the growth of the segment in the coming years. In addition, car cooling in electric vehicles is as important as ICEs, because they also produce heat and require a cooling system. In electric vehicles, the EWP uses a motor to send coolant from the cooling system to the engine’s internals. As of now, the increasing sales of electric vehicles is expected to increase the growth of the segment during the forecast period. The share of sales of electric vehicles increased from 4% in 2020 to 8% in 2021.

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Automotive Electric Water Pump Segmentation by Voltage Type

Automotive Electric Water Pump Segmentation by Application

• Battery

• machine

• Turbocharger

Automotive Electric Water Pump Segmentation by Distribution Channel

Some of the prominent market leaders in the automotive electric water pump market profiled by Research Nester are Continental AG, Schaeffler Group, Hitachi Inc., Gates Corporation, Rheinmetall AG, Robert Bosch GmbH, Magna International Inc., ZF Friedrichshafen. AG, BLDC Pump Co., Ltd., Behr Hella Service GmbH, and other key players in the market.

Recent Developments in the Automotive Electric Water Pump Market

• The Schaeffler Group has developed a high-performance electric motor for commercial vehicles that is more than 97% efficient.

• Gates Corporation has launched next-generation technology for automotive electric water pumps (EWP).

About Research Nester

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