Press release
Strong Growth Ahead: Automotive Electric Water Pump Market Size To Grow At Arecord 14.8% Cagr By 2029
Automotive Electric Water Pump
How Big Is the Automotive Electric Water Pump Market Size Expected to Be by 2034?
The market size of the automotive electric water pump has experienced speedy expansion in recent years. It's projected to increase from $3.81 billion in 2024 to $4.38 billion in 2025, with a compound annual growth rate (CAGR) of 14.8%. The historical growth can be ascribed to factors such as higher fuel efficiency standards, increased focus on reducing emissions, evolving engine cooling requirements, surges in demand for electric and hybrid vehicles, enhancements in automotive innovation and performance, and trends towards engine downsizing.
An accelerated expansion is anticipated in the automotive electric water pump market in the forthcoming years, with projections indicating a surge to $7.6 billion by 2029, reflecting a compound annual growth rate (CAGR) of 14.8%. This growth in the projected period is being driven by persistent endeavors to cut down emissions, the incorporation of smart and connected features, the emergence of thermal management systems, amplified emphasis on lightweight materials, and the burgeoning penetration of electric vehicles in the market. The forecast period is expected to witness major trends such as heightened vehicle electrification, prioritizing energy efficiency, integration with intelligent cooling systems, the utilization of lightweight designs and materials, and the growth of electric and hybrid powertrains.
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What Are the Emerging Segments Within the Automotive Electric Water Pump Market?
The automotive electric water pump market covered in this report is segmented -
1) By Voltage Type: 12V, 24V
2) By Vehicle Type: Passenger Vehicle, Light Commercial Vehicle, Heavy Duty Trucks, Buses And Coaches
3) By Propulsion: Internal Combustion Engines (ICEs), Electric, Battery Electric, Hybrid Or Plug-In Hybrid Electric, Fuel-Cell Electric
4) By Application: Engine, Turbocharger, Battery, Other Applications
5) By Sales Channel: Original Equipment Manufacturer (OEM), After market
Subsegments:
1) By 12V: Standard 12V Pumps, High-Performance 12V Pumps
2) By 24V: Standard 24V Pumps, High-Performance 24V Pumps
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What Long-Term Drivers Are Shaping Automotive Electric Water Pump Market Trends?
As the demand for electric vehicles escalates, it is set to propel the expansion of the automotive electric water pump market. Essentially, an electric vehicle (EV) is a transport mode fueled by an electric motor, drawing power from a battery that can be externally charged. One of the critical components of an EV is the automotive electric water pump, which regulates the coolant's circulation through the engine across defined temperature ranges. It helps to maintain the desired temperature using a controller and prevents overcooling or undercooling. As a result, the escalating demand for electric vehicles is pushing the growth of the automotive electric water pump market. The Organisation Internationale des Constructeurs d'Automobiles (OICA), an international association of carmakers based in France, noted that in 2023, the global automotive industry saw significant growth. It recorded a production of 93546599 units, a substantial surge from the 85016728 units manufactured in 2022. Thus, the growing demand for electric vehicles is a major driving force for the automotive electric water pump market's expansion.
Who Are the Top Competitors in Key Automotive Electric Water Pump Market Segments?
Major companies operating in the automotive electric water pump market include 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, 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
What Automotive Electric Water Pump Market Trends Are Gaining Traction Across Different Segments?
The defining trend on the rise in the automotive electric water pump market is technological progression. Leading companies in this market are concentrated on creating innovative technologies to maintain their market standing. For example, Gates Corporation, a US firm that makes application-specific fluid power and power transmission solutions, rolled out the latest Thermal Pro electric water pumps (EWP) tailored for electric vehicle applications in November 2022. This technology's notable attribute is its intricate design that allows for a broad range of uses from 100 W to 3 kW (4.0 hp). To amplify pump dependability, the unique mechanical design safeguards the electronic assembly from potential coolant fluid exposure. Considering that electric water pumps can consume significant amounts of battery on wholly electric platforms, the pending-patent technology increases motor efficiency, a critical factor.
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Which Regions Are Becoming Hubs for Automotive Electric Water Pump Market Innovation?
Asia-Pacific was the largest region in the automotive electric water pump market in 2024. 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Automotive Electric Water Pump Market?
2. What is the CAGR expected in the Automotive Electric Water Pump Market?
3. What Are the Key Innovations Transforming the Automotive Electric Water Pump Industry?
4. Which Region Is Leading the Automotive Electric Water Pump Market?
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