Press release
COVID-19 Impact Affects Automotive Electric Water Pump Market Globally in 2020
For instance, Italy-based automotive cooling system specialist Saleri engineered a unique electromechanical water pump (EMP) to enable enhanced temperature control, without increasing power, in hybrid-powered vehicles. Similarly, the German automotive major Rheinmetall employed the canned motor concept to design a novel coolant solution that eliminates the need for sealing elements, thus ensuring a prolonged lifespan of the water pump. These, and many such innovations, are expected to emerge as the leading automotive electric water pump market trends in the forthcoming years.
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The report states that the value of the market stood at USD 2410.2 million in 2018. Additionally, it provides the following information:
Comprehensive insights into the regional dynamics of the market;
Detailed analysis of the competitive landscape of the market;
Exhaustive study of the various market segments; and
Microscopic evaluation of the market drivers, trends, and challenges.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. Some industries are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
To get the short-term and long-term impact of COVID-19 on the automotive electric water pump market: https://www.fortunebusinessinsights.com/automotive-electric-water-pump-market-102618
List of Players Covered in the Automotive Electric Water Pump Market Report:
o DaviesCraig
o Gates Corporation
o Magna International Inc.
o Robert Bosch GmbH
o Schaeffler AG
o BLDC Pump Co., Ltd.
o Rheinmetall Automotive AG
o Continental AG
Market Driver
Escalating Pollution Levels Worldwide to Aid Market Expansion
Air pollution levels all over the world are escalating at an unprecedented rate and emissions from on-road vehicles is one of the foremost contributors to this rise. According to the World Health Organization (WHO), ambient air pollution was responsible for close to 4.2 million deaths worldwide in 2016. In the US, the Environment Protection Agency (EPA) estimates that motor vehicles account for 75% of the carbon monoxide pollution. One of the main reasons for such high level of vehicular pollution is the outdated and inefficient combustion and coolant technologies in automobiles. As a result, the fuel efficiency of vehicles is reduced, leading to more emissions and more pollution. In this scenario, the development of sustainable EWP systems for automobiles will bode well for the automotive electric water pump market growth.
Regional Analysis
Asia-Pacific to Hold Lion's Share; Europe to Follow Closely
The market size in Asia-Pacific stood at USD 951.7 million in 2018 and is expected to expand steadily in the coming years, enabling the region to dominate the automotive electric water pump market share. The chief growth propeller in the region is the skyrocketing demand for passenger vehicles, which itself is supported by continuously rising disposable income. In Europe, on the other hand, stringent government regulations on vehicular carbon emissions are nudging people towards electric vehicles which come preinstalled with EWP systems. A similar trend is witnessed in North America where there is an increasing demand for fuel-efficient vehicles, which augurs well for this market.
Competitive Landscape
Targeted Innovation Strategies to be Adopted by Major Players
While the opportunities for innovation are wide and extensive in this market, industry leaders are adopting a more targeted approach towards developing innovative solutions, the automotive electric water pump market analysis suggests. Companies are particularly designing products to cater to the rapidly growing market for electric vehicles, where the demand for advanced EWP units is set to rise in the near future.
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Detailed Table of Content:
Introduction
Research Scope
Market Segmentation
Research Methodology
Definitions and Assumptions
Executive Summary
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Key Insights
Merger, Acquisitions, and Partnerships
Distributor Analysis - For Major Players
Growth and Penetration Analysis
Porter's Five Forces Analysis
PEST Analysis
Vendor Landscape
Global Automotive Electric Water Pump Market Analysis, Insights and Forecast, 2015-2026
Key Findings / Summary
Market Analysis, Insights and Forecast - By Vehicle Type
Passenger Cars
Light Commercial Vehicles
Electric Vehicles
Market Analysis, Insights and Forecast - By Pump Type
12V
24V
Market Analysis, Insights and Forecast - By Region
North America
Europe
Asia pacific
Rest of the World
TOC Continued...!
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Industry Developments:
January 2020: Rheinmetall Automotive, the Germany-based automotive technologies supplier, secured an eight-year-long contract from a reputed carmaker to supply water pumps for electric vehicles. Rheinmetall has announced that it will deliver two versions of its electric water recirculation pump (WUP) for an estimated value of EUR130 million for the entire duration of the contract.
September 2018: Continental AG announced the launch of two new PRO Kits that will contain a water pump along with power transmission engine belts. In addition to the kits, the company also announced the inclusion of 23 new types of water pumps to its existing portfolio of pumps to enable better temperature regulation in automobile engines.
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