- An automotive electric water pump is activated by a motor and battery, which manages a volume flow as demanded by the engine. Demand driven cooling, principally in cold-start period, averts excess fuel use and leads to a corresponding reduction in emissions.
- The automotive electric water pump manages a volume flow on demand for engine and other parts of vehicle such as power electronics. The electric water pump is also used to cool turbocharged air for passenger and light duty vehicles. An electric water pump consumes 90% less energy than a mechanically operated water pump. An electric water pump offers several advantages over the mechanical water pump such as lower emission, better engine temperature management, elimination of engine heat sock, and enhancement of engine life.
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Key Drivers of Global Automotive Electric Water Pump Market:
- Innovative new technologies have been adopted in the fields of hydraulics and engine and electronics design as a part of the development electronically controlled water circulation pumps. For instance, Rheinmetall Automotive utilized the canned motor concept to cater to the demands for operating reliability and service life. This particular design statically seals the stator from the coolant, which is pumped via the running rotor. Hence, as dynamic sealing elements are not required for this system, which are subjected to wear, automotive electric oil pumps are reliable over a longer life span and minimize wear & tear issues. Hence, such technological advancements are driving the automotive electric water pump market during the forecast period.
- Increase in demand for fuel-efficiency, weight reduction of electric water pump by auto manufacturers, and rising demand for better performance and fuel consumption of the vehicle are likely to boost the demand for electric water pump in the automotive industry during the forecast period. Several auto manufacturers in Europe provide electric water pumps in numerous vehicle models.
- Rise in demand for vehicles and consistent investments by automakers in research and development of cost effective, environment-friendly, and low toxic products with a high life within the industry are is likely to propel the global automotive electric water pump market
- The trend of urbanization is increasing at an exponential rate, which is boosting the average income of the urban population, enabling them to enhance their lifestyles. Furthermore, an increase in the demand for passenger cars is prompting manufacturers to increase the vehicles, which in turn is fueling the global automotive electric water pump market.
Passenger Vehicle Segment to Offer Attractive Opportunities:
- The passenger vehicle segment is likely to hold a significant share of the market by the end of the forecast period. This is attributed to a rise in the demand for utility vehicles in highly populated countries such as China, India, and Brazil.
- High demand for e-class, crossovers, SUVs, and hatchbacks is driving the passenger vehicle segment, which in turn is likely to boost the automotive electric water pump market. Rise in preference for private transport and buying power of consumers is driving the passenger vehicle segment of the market.
COVID–19 Pandemic to Hamper Market:
- The COVID-19 crisis is affecting economies and industries in various countries due to lockdowns, travel bans, and business lockdowns. The global material supplier industry is suffering serious disruptions such as supply chain breaks, office shutdowns, and others. For instance, China is a global manufacturing hub and raw material supplier of various industries; it is also one of the worst affected countries. The lockdown of various plants and factories in China is restricting the global supply chains and disrupting manufacturing, delivery schedules, and various chemicals and material sales. Various companies announced possible delays in product deliveries and slump in future sales of their products. All these factors are anticipated to hamper the global automotive electric water pump market across the globe.
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Asia Pacific to Hold Significant Share of Global Automotive Electric Water Pump Market:
- Asia Pacific comprises rapidly expanding economies, including India and those in ASEAN, which is likely to witness higher demand for vehicles and consequently, boost the automotive electric water pump market during the forecast period
- Asia Pacific held a leading share of the global automotive electric water pump market due to higher volume of vehicles produced in prominent countries, including China and Japan, and lower manufacturing and labor cost across the region. Moreover, availability of inexpensive labor and raw material in the region coupled with increasing number of local manufacturers is likely to propel the market in Asia Pacific during the forecast period.
Key Players Operating in Global Market:
The global automotive electric water pump market is highly consulted with top manufacturers across the global market. A few of the key players operating and potential in the global automotive electric water pump market are:
- Schaeffler AG
- Behr Hella Service GmbH
- Robert Bosch GmbH
- Magna International Inc.
- Valeo SA
- Gates Corporation
- Continental AG
- BLDC Pump Co., Ltd.
- Rheinmetall Automotive AG
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