Press release
Automotive Electric Water Pump Market Growth to be Driven by Emerging Trends | $7.35 Billion by 2029
Automotive Electric Water Pump
What is the Projected Market Size of the Automotive Electric Water Pump Industry?
The market for automotive electric water pumps has seen substantial growth in the past years. The industry is projected to grow from a value of $3.81 billion in 2024 to a worth of $4.32 billion in 2025, with a compound annual growth rate (CAGR) of 13.4%. This growth during the historic period was motivated by several factors, including the adoption of stringent fuel efficiency standards, emphasis on the reduction of emissions, the need for advanced engine cooling technologies, escalating demand for electric and hybrid vehicles, automotive innovation, improvements in performance, and the trend towards engine downsizing.
What Will Be the Size of the Automotive Electric Water Pump Market by 2029?
The market for electric water pumps in the automotive sector is projected to experience a significant increase over the foroming years, reaching $7.35 billion in 2029 with a compound annual growth rate of 14.2%. The anticipated expansion during the forecast period is due to factors such as persistent endeavors to cut emissions, the incorporation of intelligent and interconnected features, the emergence of thermal management systems, an amplified focus on weight-reducing materials, and expanding penetration of electric vehicles in the market. Key trends for the forecast period encompass increased vehicle electrification efforts, emphasis on energy efficiency, integration with smart cooling systems, use of light-weight design and materials, and the advancement of electric and hybrid powertrains.
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What Are the Key Drivers Accelerating Growth in the Automotive Electric Water Pump Market?
The upward trend in electric vehicle popularity is likely to propel the expansion of the automotive electric water pump market. An electric vehicle (EV), which utilises an electric motor powered by a battery that can be externally charged, heavily relies on an automotive electric water pump. The function of this pump lies in determining the volume of coolant flowing through the engine at specific temperature ranges and sustaining a desired temperature with the help of a controller to avoid inadequate or excessive cooling. As such, the burgeoning demand for EVs is anticipated to enhance the growth of the automotive electric water pump market. As an example, the Organisation Internationale des Constructeurs d'Automobiles (OICA), a France-based international association of car manufacturers, reported in 2023 that the global auto industry saw remarkable growth, with total vehicle production reaching 93546599 units, a notable jump from the 85016728 units produced in the previous year, 2022. Consequently, this increasing demand for electric vehicles is stimulating the expansion of the automotive electric water pump market.
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How Is the Automotive Electric Water Pump Market Segmented by Type, Application, and Region?
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
What Are the Key Trends Driving Growth in the Automotive Electric Water Pump Market?
The primary trend gaining traction in the automotive electric water pump market is technological innovation. Major players in this market are concentrating their efforts on advancing their technologies to maintain their market dominance. Gates Corporation, a US company specializing in application-specific fluid power and power transmission solutions, showcased this trend with the release of their next-gen Thermal Pro electric water pumps (EWP) for use in electric vehicles in November 2022. This technology stands out with its exceptional design that allows for compatibility with a range of applications from 100 W to 3 kW (4.0 hp). Its distinct mechanical design enhances pump reliability by keeping the electronic assembly isolated from coolant fluids exposure. Given the significant battery drain that electric water pumps can cause on fully electric platforms, this patent-pending technology's improvement of motor efficiency is of vital importance.
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Who Are the Leading Companies Driving Growth in the Automotive Electric Water Pump Market?
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
Which Is the Leading Region in the Global Automotive Electric Water Pump Market?
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.
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