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AUTOMOTIVE & TRANSPORTATION

Automotive Electric Water Pump (EWP) Market Analysis by Voltage Type (12V, 24V); by Application (Battery, Engine, Turbocharger); by Propulsion Type {Internal Combustion Engines (ICEs), Electric, Battery Electric, and Others}; by Vehicle Type (Passenger Vehicles, Light Commercial Vehicles, and others); and Others – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • Schaeffler Group - developed high-performance electric motors for commercial vehicles that are over 97 percent efficient.

  • Gates Corporation – launched its next-generation technology for electric water pumps (EWP) used in automotive.

Global Automotive Electric Water Pump Market Size, Forecast, and Trend Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~14%

Base Year Market Size (2022)

~ USD 3 Billion

Forecast Year Market Size (2033)

~ USD 8 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

 

The global automotive electric water pump market is estimated to garner a revenue of ~USD 8 billion by the end of 2033 by growing at a CAGR of ~14% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 3 billion in the year 2022. The growth of the market can primarily be attributed to the growing sale of vehicles worldwide giving rise to the demand for necessary parts of powertrains. It was found that the global sales of automobiles were more than 68 million units in 2021.

 automotive electric water  pump market  overview image

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An automotive electric water pump is typically activated by a battery and motor to manage the volume flow required by engines. The pump operates by forcing coolant into the engine and absorbing the heat it generates. Automotive electric coolant pumps are primarily used to cool vehicle engines, circulate hot air, intake air intercoolers, regulate heat from hydrogen fuel cells, turbochargers, and power battery thermal management systems.

Global Automotive Electric Water Pump Market: Growth Drivers and Challenges

Growth Drivers

  • Growing Sales of Electric Vehicles – an electric water pump uses a motor to send coolant from the cooling system to the engine internals in electric cars. The rising sales of electric vehicles are expected to propel the automotive electric water pump market in the forecasted period. For instance, the new sales share of electric vehicles increased from ~4% in 2020 to nearly 8% in 2021.

  • Increasing Penetration of Turbochargersfor instance, the revenue of air turbochargers for internal combustion engines or diesel engines is estimated to amount to more than USD 790 million in Brazil by 2025.

  • Upsurge in the Production of Medium and Heavy-duty Trucksthe global production of which reached more than 3 million units by 2021.

  • Rising Demand for Key Battery Mineralsfor instance, the demand for graphite and lithium is projected to amount to about 2 million metric tons and over 1.5 million metric tons by 2028.

  • Growing Penetration of Hydrogen-Powered Vehiclesthe use of which as of 2022 was found to be approximately 15,000 units on United States roads.

Challenges

  • Concern about EWP Failure – which is mostly caused by simply age and wear of its electric motor. With time, most parts in automotive including auxiliary pumps, start to break down owing to constant wear and tear.

  • Huge Cost Involved in Automotive Manufacturing

  • Requires High Investment in Research & Development

The global automotive electric water pump market is segmented and analyzed for demand and supply by vehicle type segment into passenger vehicles, light commercial vehicles, and heavy-duty trucks, buses, and coaches. Amongst these segments, the passenger vehicles segment is anticipated to garner the largest revenue by the end of 2033, backed by the surge in the sale of passenger vehicles along with demand for fuel-efficient and low-emission vehicles worldwide. For instance, India saw an increase of approximately 14% in passenger vehicle sales in the financial year 2022.

Global Automotive Electric Water Pump Market Regional Synopsis

The Asia Pacific automotive electric water pump market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033, backed by the presence of a strong vehicle network in the region, growing production of vehicles, as well as the rising awareness amongst automobile manufacturers for fuel-efficient vehicles with advanced auto parts & components. It was found that in 2021, around 32% of global vehicles had been manufactured in China.

electric water pump market share

Market Segmentation

Our in-depth analysis of the global automotive electric water pump market includes the following segments:

     By Voltage Type

  • 12V
  • 24V

     By Application

  • Battery
  • Engine
  • Turbocharger

     By Propulsion Type

  • Internal Combustion Engines (ICEs)
  • Electric
  • Battery Electric
  • Hybrid / Plug-in Hybrid Electric
  • Fuel-Cell Electric

     By Vehicle Type

  • Passenger Vehicles
  • Light Commercial Vehicles
  • Heavy Duty Trucks
  • Buses and Coaches

    By Distribution Channel

  • Original Equipment Manufacturer (OEM)
  • Aftermarket

Top Featured Companies Dominating the Global Automotive Electric Water Pump Market

  • Schaeffler Group

    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Gates Corporation
  • Rheinmetall AG
  • Robert Bosch GmbH
  • Hitachi Inc.
  • Behr Hella Service GmbH
  • Magna International Inc.
  • ZF Friedrichshafen AG
  • Continental AG
  • BLDC Pump Co., Ltd.

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