Automotive Electric Water Pump Global Market Report 2024

The automotive electric water pump market size has grown rapidly in recent years. It will grow from $3.35 billion in 2023 to $3.86 billion in 2024 at a compound annual growth rate (CAGR) of 15.4%. During the historical period, growth in the automotive electric water pump sector can be attributed to various factors, including the escalation of fuel efficiency standards, heightened focus on reducing emissions, evolving requirements for advanced engine cooling systems, increased consumer demand for electric and hybrid vehicles, ongoing innovation within the automotive industry aimed at enhancing performance, as well as the growing trend of engine downsizing to improve efficiency.

The automotive electric water pump market size is expected to see rapid growth in the next few years. It will grow to $6.69 billion in 2028 at a compound annual growth rate (CAGR) of 14.7%. Anticipated growth in the forecast period is expected to result from ongoing efforts to further reduce emissions, the integration of smart and connected features into automotive systems, the prominence of thermal management systems, a heightened emphasis on utilizing lightweight materials, and the expanding market presence of electric vehicles. Major trends projected in this period encompass increased vehicle electrification, a continued focus on energy efficiency enhancements, integration with smart cooling systems, advancements in lightweight design and materials, and the increasing adoption of electric and hybrid powertrains within the automotive industry.

The growing demand for electric vehicles is anticipated to drive the expansion of the automotive electric water pump market. Electric vehicles (EVs) are powered by electric motors drawing energy from batteries, and the adoption of these vehicles is on the rise. The automotive electric water pump plays a crucial role in managing coolant circulation in an electric vehicle's engine, ensuring optimal temperatures and preventing both insufficient and excessive cooling. As per a report from the International Energy Agency (IEA), the market share of electric vehicles increased to over 10% in 2021, up from 4% in 2019, reflecting a significant shift. The global sales of electric cars in 2021 reached 6.6 million units, compared to 2.98 million units in the previous year. Consequently, the surging demand for electric vehicles is a key driver behind the growth of the automotive electric water pump market.

Stringent environmental regulations and emission requirements are also contributing to the market's growth. The tightening of emission standards has led automotive manufacturers to seek innovative solutions to reduce environmental impact. The incorporation of electric water pumps in vehicles enhances engine efficiency, reduces fuel consumption, and helps meet emission targets. For instance, the Environmental Protection Agency (EPA) in the United States approved new vehicle emissions guidelines through 2026 in December 2021. These guidelines are expected to result in a reduction of 3.1 billion tons of CO2 emissions by 2050. Additionally, the U.S. government aims for 50% of all new vehicles produced in 2030 to be electric or plug-in hybrid versions. Thus, the increasing focus on environmental regulations and emission standards is expected to drive demand for automotive electric water pumps.

Technological advancement is a prominent trend in the automotive electric water pump market, with major companies concentrating on developing innovative technologies to maintain their market positions. In November 2021, Gates Corporation, a U.S.-based manufacturer of application-specific fluid power and power transmission solutions, introduced the next-generation Thermal Pro electric water pumps (EWP) designed for electric vehicle applications. This technology boasts a sophisticated design capable of handling applications from 100 W to 3 kW (4.0 hp). Notably, the design separates the electronics assembly from potential exposure to coolant fluids, enhancing pump reliability. The patent-pending technology also improves motor efficiency, which is crucial for fully electric platforms where electric water pumps can be substantial battery consumers.

Major companies in the automotive electric water pump market are actively engaged in product development to cater to various vehicle types, including electric, hybrid, and internal combustion engine (ICE) vehicles. An example of this trend is seen in Dayco, a U.S.-based supplier of engine products and drive systems. Dayco has introduced electric water pumps (E-Pumps) designed not only for hybrid and electric vehicles (EVs) but also for selected traditional internal combustion engine (ICE)-powered applications. This expansion of Dayco's thermal management portfolio demonstrates the company's commitment to providing innovative and sustainable mobility solutions.

In February 2021, Advik Hi-Tech, an India-based supplier of various automotive components, acquired Hanon Systems’ Bangalore unit. This strategic acquisition is expected to contribute significantly to Advik Hi-Tech's business volume over the next five years, providing a broader customer base and product offerings. Hanon Systems' Bangalore unit is part of the South Korea-based Hanon Systems Company and is involved in manufacturing automotive water pumps and vacuum pumps for global vehicle manufacturers.

Major companies operating in the automotive electric water pump market report are Robert Bosch GmbH, Schaeffler AG, Hitachi Astemo Americas Inc., HELLA GmbH & Co. KGaA, Rheinmetall Automotive AG, Valeo Service, Continental Automotive GmbH, BLDC Pump Co. Ltd., Gates Corporation, Davies Craig Pty Ltd., ZF Friedrichshafen AG, Johnson Electric Holdings Limited, Hanon Systems Co. Ltd., Aisin Seiki Co. Ltd., Magna International Inc., Behr Hella Service GmbH, Carter Fuel Systems LLC, GMB Corporation, Bosch Automotive Service Solutions Inc., ACDelco, DENSO Corporation, Delphi Technologies LLC, BorgWarner Inc., Mahle GmbH, Pierburg GmbH, Airtex Products L.P., ASC Industries Inc., Okinawa Pumps Co. Ltd., Keihin Group, Sanden Holdings Corporation.

Asia-Pacific was the largest region in the automotive electric water pump market in 2023. The regions covered in the automotive electric water pump market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the automotive electric water pump market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The voltage types pertinent to automotive electric water pumps include 12V and 24V systems. A 12V water pump operates through a small DC motor powered by a 12V DC source. These pumps are utilized in various vehicle types such as passenger vehicles, light commercial vehicles, heavy-duty trucks, buses, and coaches, employing diverse propulsion systems such as internal combustion engines (ICEs), electric, battery electric, hybrid or plug-in hybrid electric, and fuel-cell electric propulsion. They serve functions related to engine cooling, turbocharger cooling, battery cooling, among others. These pumps are distributed through original equipment manufacturers (OEMs) and aftermarket sales channels.

The automotive electric water pumps market research report is one of a series of new reports that provides automotive electric water pumps market statistics, including automotive electric water pumps industry global market size, regional shares, competitors with automotive electric water pumps market share, detailed automotive electric water pumps market segments, market trends, and opportunities, and any further data you may need to thrive in the automotive electric water pumps industry. This automotive electric water pumps market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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