Automotive Electric Water Pump Market is estimated to be US$ 30.11 billion by 2030 with a CAGR of 6.10% during the forecast period
Automotive Electric Water Pump Market accounted for US$ 16.73 billion in 2020 and is estimated to be US$ 30.11 billion by 2030 and is anticipated to register a CAGR of 6.10%. A electric water pump is powered by a motor and battery, and it regulates the volume flow required by the engine. Demand-driven cooling minimises fuel usage and pollutants, and is most effective during the cold-start period. On-demand water volume flow for the engine and other vehicle components such as power electronics is controlled by the automotive electric water pump. The electric water pump is also used to cool turbocharged air in passenger and light-duty vehicles. An electric water pump consumes 90% less energy than a manually driven water pump. An electric water pump has several advantages over a mechanical water pump, including lower emissions, superior engine temperature management, elimination of the engine heat sock, and increased engine life.
The report "Global Automotive Electric Water Pump Market, By Type (12 V and 24 V), By Application (Engine cooling, Battery cooling, and Turbocharger cooling), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2029’’
Key Highlights:
· In 2021, With the launch of its next-generation technology for electric water pumps (EWP) used in automotive, light commercial, and heavy duty vehicles, Gates (NYSE: GTES), a leading global provider of application-specific fluid power and power transmission solutions, is expanding its presence in hybrid and battery electric vehicle (BEV) applications
Analyst View:
An automotive water pump is an important component of the cooling system in a car, as it keeps the engine cool and prevents it from seizing. Cooling the area around the cylinders is crucial to an automobile engine's longevity. An engine's operating temperature must be maintained at all times in order for it to function properly. The coolant, cooler, thermostat, coolant lines, and the automobile water pump are the components in the cooling system that allow this to happen. Furthermore, the traditional mechanical automotive water pump, which circulates coolant around the engine, is powered by a combustion engine. When cooling is required, the electronic automotive water pump is operated by the motor and battery.
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Key Market Insights from the report:
Global Automotive Electric Water Pump Market accounted for US$ 16.73 billion in 2020 and is estimated to be US$ 30.11 billion by 2030 and is anticipated to register a CAGR of 6.10%. The global automotive electric water pump market report segments the market on the basis of type, application, and region.
· Based on Type, Global Automotive Electric Water Pump Market is segmented into 12 V and 24 V.
· Based on Application, Global Automotive Electric Water Pump Market is segmented into Engine cooling, Battery cooling, and Turbocharger cooling.
· By Region, the Global Automotive Electric Water Pump Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Automotive Electric Water Pump Market:
Key players in the global automotive electric water pump market include Aisin Seiki Co. Ltd., Concentric AB, Continental AG, Delphi Automotive, Denso Corporation, Hella KGaA Hueck & Co., Hitachi Automotive Systems, Johnson Electric, JTEKT Corporation, and KSPG AG.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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