MarketResearch.biz announces publication of its most recently generated research report titled, “Global Automotive Electric Water Pumps Market by Product Type (12V EWP and 24V EWP), Application (Engine, Turbocharger, Battery, Other Applications), and Region – Global Forecast to 2028.”, which offers a holistic view of the global automotive electric water pumps market through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue (2019–2023) is projected to be over US$ 5480 Mn, which is estimated to increase moderately over the latter part of the five-year forecast period.
Electric water pumps maneuver on battery and motor power for cooling engines, which reduces the load on engines. They are a part of the growing number of advanced generation vehicles, where demand for higher efficiency engines exponentially rises. Electric water pump reduces the engine load, controlled by sensors, to provide the necessary coolant amount during operations. Various new vehicles utilize up to three pumps for different systems, including cabin heating, turbocharger, and battery system cooling.
Global Automotive Electric Water Pumps Market: Market Dynamics
Significant growth of the automotive industry, particularly in developing economies, is expected to drive the growth of the global automotive electric water pump market. Additionally, the increased focus of automotive OEMs towards providing enhanced technology for fuel efficiency in vehicles while reducing the carbon footprint on the environment is expected to increased the adoption of automotive electric water pumps.
However, automotive electric water pumps are comparatively more expensive than conventional mechanical water pumps, which is expected to hamper the market growth of the global automotive electric water pumps market to a certain extent
Substantial demand for turbocharged engines in commercial vehicles and passenger vehicles globally provides promising opportunities for manufacturers of the electric water pump market. It is expected that by 2025, the market proportion of turbocharged engine vehicles will reach approximately 70% in China.
Global Automotive Electric Water Pumps Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global automotive electric water pumps market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global automotive electric water pump market is estimated to expand at a moderate CAGR of 6.6% during the forecast period.
Global Automotive Electric Water Pumps Market: Segmental Snapshot
The market report has been segmented on the basis of product type, application, and region. The product type segment includes 12V EWP and 24V EWP. The application segment includes engine, turbocharger, battery, and other applications. The region covered in the analysis is North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
By product type: The 12V EWP segment is expected to register a CAGR of over 7.2%, thereby accounting for the highest revenue share among the product type segments.
By application: The turbocharger segment is expected to register a CAGR of over 6.6% over the forecast period, thereby accounting for the highest revenue share among the application segments.
By region: The market in Europe accounted for the highest revenue share in the global automotive electric water pumps market in 2018 and is estimated to register a CAGR of over 6.2% between 2019 and 2028.
Global Automotive Electric Water Pumps Market: Competitive Analysis
The research report on the global automotive electric water pumps market includes profiles of major companies such as Robert Bosch GmbH, Continental AG, Aisin Seiki Co., Ltd., Rheinmetall AG, Gates Industrial Corporation plc, Behr Hella Service GmbH, Magna International Inc., GMB Corporation, Engineered Machined Products, Hitachi, Ltd., Sanhua Holding Group Co., Ltd., etc.
The Global Automotive Electric Water Pumps Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2019–2028 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global automotive electric water pumps for 2018–2028.
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