Automotive Electric Water Pump Market Overview: Market Size, Major Drivers And Trends
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033
The surge in demand for electric vehicles (EVs) is set to drive the expansion of the automotive electric water pump market.
Electric Vehicles:
- EVs are powered by electric motors fueled by batteries.
- Automotive electric water pumps regulate coolant circulation to maintain optimal engine temperature in EVs.
- Market share for electric vehicles increased to over 10% in 2021 from 4% in 2019.
- Global sales of electric cars soared to 6,600,000 units in 2021 from 2,980,000 units.
Key Players:
- Major companies like Robert Bosch GmbH, Schaeffler AG, and Hitachi Astemo Americas Inc. dominate the automotive electric water pump market.
Next-Generation Thermal Pro Electric Water Pumps For EVs
Technological Advancement: Innovations are driving the automotive electric water pump market forward.
- Gates Corporation launched next-gen Thermal Pro electric water pumps with a wide range of applications.
- These pumps are designed to handle power consumption efficiently and enhance motor efficiency, crucial for electric platforms.
Read The Full Automotive Electric Water Pump Market Report Here:
Advik Hi-Tech’s Strategic Acquisition
Business Expansion: Advik Hi-Tech’s acquisition of Hanon Systems’ Bangalore unit signifies a strategic move.
- Hanon Bangalore, now under Advik, manufactures automotive water pumps and vacuum pumps.
- The acquisition is expected to broaden Advik’s customer base and product offerings over the next five years.
Segmentation of the Market
Understanding the Market: The automotive electric water pump market is segmented based on various factors.
- Voltage Type: Segmented into 12V and 24V categories.
- Vehicle Type: Includes Passenger Vehicles, Light Commercial Vehicles, Heavy-Duty Trucks, Buses, and Coaches.
- Propulsion: Covers Internal Combustion Engines (ICEs), Electric, Battery Electric, Hybrid, Plug-in Hybrid Electric, and Fuel-Cell Electric vehicles.
- Application: Divided into Engine, Turbocharger, Battery, and Other Applications.
- Sales Channel: Comprises Original Equipment Manufacturers (OEM) and Aftermarket sales.
Market Landscape: Asia-Pacific Dominates
Regional Insights: Asia-Pacific emerged as the largest region in the automotive electric water pump market in 2023.
- The region’s dominance is attributed to its robust automotive industry and technological advancements.
- Countries like China, Japan, and South Korea are key contributors to market growth.
- The market is expected to witness further expansion, driven by increasing vehicle production and technological innovations.
Conclusion
Looking Ahead: The automotive electric water pump market is poised for substantial growth in the coming years.
- Rising demand for electric vehicles, technological advancements, and strategic acquisitions are key drivers.
- To stay competitive, companies must focus on innovation, market expansion, and catering to evolving consumer needs.
- As the automotive industry continues to evolve, the electric water pump market will play a vital role in ensuring efficient vehicle performance and sustainability.
Get A Free Sample On The Global Automotive Electric Water Pump Market Report:
https://www.thebusinessresearchcompany.com/sample_request?id=9520&type=smp
The Automotive Electric Water Pump Global Market Report 2024 provides an overview of the automotive electric water pump market for the time series: historic years (2010 -2021) and ten years forecast (2023 – 2032).The automotive electric water pump market forecast analyzes automotive electric water pump market size, automotive electric water pump market share, leading competitor and their market positions.
Explore Similar Reports From The Business Research Company:
Aircraft Electrification Global Market Report 2024
Aircraft Nacelle And Thrust Reverser Global Market Report 2024
Firefighting Aircraft Global Market Report 2024
Learn More About The Business Research Company
The Business Research Company has published over 6500+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
Contact us at:
The Business Research Company:https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at info@tbrc.info
Follow us on:
LinkedIn:https://in.linkedin.com/company/the-business-research-company
YouTube:https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model:https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on:
