Increasing Demand for Automotive Water Pump to Fuel Revenue Growth Through 2028
Added: (Fri Feb 15 2019)
Pressbox (Press Release) -
Global Automotive Water Pump Market: Introduction
An automotive water pump is one of the indispensable part of the cooling system in an automobile, used to maintain the engine’s temperature and prevent seizing. Cooling the area around the cylinders is critical to the life of an automotive engine. For an engine to work effectively, it must reach its operating temperature constantly and quickly. The components in the cooling system that allow this to happen are the coolant, cooler, thermostat, coolant lines, and the automotive water pump. Moreover, the conventional mechanical automotive water pump is powered by a combustion engine to circulate coolant around the engine. Whereas, the electronic automotive water pump is activated by motor and battery when the cooling is required.
Also, electronic automotive water pump offers a feature to control the volume of coolant. By utilizing a thermal management system in the automotive water pump, fuel consumption and CO2 emissions can be reduced by up to 4%. In addition, turbocharged vehicles also employ auxiliary automotive water pump to optimize cooling efficiency. Subsequently, the aim of the study is to analyze the most recent trends, dynamics, and potential strategies in the global automotive water pump market.
Global Automotive Water Pump Market: Dynamics
Despite headwinds, the automotive water pump market presses forward at a substantial growth rate over the coming years. With the advent of fuel-efficient and electric vehicles, a visible trend toward intelligently controlled water pumps can be foreseen. Manufacturers are poised to utilize advanced casting technologies to reduce the weight and size of an automotive water pump. Sales of the automotive water pump in passenger cars are expected to show recovery as a consequence of improved oil prices and better economic conditions. Under the current electric vehicles exponential growth scenario, the demand for automotive water pumps is anticipated to observe a robust growth. As the demand for fast charging of high-power battery increasing, automotive water pump has become a standard accessory for the cooling system of electric vehicles OBC (On-board Charger), battery, and other components.
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Global Automotive Water Pump Market: Segments
The global automotive water pump market can be segmented on the basis of vehicle type, operation, power, sales channel, and region
On the basis of the vehicle type the global automotive water pump market can be segmented as:
Passenger Cars
Conventional
Electric
Hybrid
Light Commercial Vehicles
Pickup Vans and Others
Light Duty Trucks
Heavy Commercial Vehicles
Buses and Coaches
Heavy Trucks and Trailers
On the basis of the operation the global automotive water pump market can be segmented as:
Conventional or Mechanical Automotive Water Pump
Electronic Automotive Water Pump
Vacuum Operated Automotive Water Pump
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On the basis of the power the global automotive water pump market can be segmented as:
Up to 50 W
50 W to 100 W
More than 100 W
On the basis of the sales channel the global automotive water pump market can be segmented as:
OEM
Aftermarket
Global Automotive Water Pump Market: Regional Outlook
Economic turmoil in different parts of the globe has impacted investments in automotive manufacturing and automotive water pump. Demand for new commercial vehicles set to remain positive in the EU in the coming years which will likely to forge ahead the future outlook for the automotive water pump market. Total automotive OEM investments have been increasing, attributing to the surge in the demand for automotive water pump across China, India, and ASEAN. Moreover, trade tensions in China will likely to impact the performance of the automotive industry and thereby, obstructing the demand for the automotive water pump.
The automotive production in North America is expected to follow an upward trajectory, supported by increasing demand across all commercial vehicle segments. Consequently, with the surge in the sales of automobile, global automotive water pump market will likely to benefit. Additionally, the demand for automotive water pump in the Middle East and Africa decreased last year, affected by declining demand for vehicles in South Africa an Egypt. Nonetheless, aftermarket segment is expected to aid the growth in the global automotive water pump market.
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Global Automotive Water Pump Market: Key Participants
List of some of the prominent market participants in the global automotive water pump market discerned across the value chain include:
Hitachi Automotive Systems Americas, Inc.
Continental AG
GMB Corporation
Gates Corporation
Schaeffler Group
Aisin Seiki Co., Ltd.
BorgWarner Inc.
Concentric AB
AIRTEX ASC
TBK Co., Ltd.
Meko Auto Pvt. Ltd.