Automotive Water Pump Market

The rise in vehicle production, the rising demand for fuel-efficient automobiles, and the higher emission standards set by governments in various nations are the primary factors driving the growth of the automotive water pump market. The demand for automotive water pumps has increased as a result of the growth in vehicle production because they are crucial parts of the cooling systems for internal combustion engines (ICEs). Water pumps are being used by automakers to increase the cooling systems' overall effectiveness. During the projected period, this is likely to increase demand for automobile water pumps. Furthermore, tighter pollution regulations across many nations have been enacted in response to growing concerns about vehicular emission, which is anticipated to raise demand for fuel-efficient cars and, as a result, for automotive water pumps.
The automotive water pump market is required since an engine must operate well. Automotive water pumps are in charge of moving coolant through the engine, which reduces the heat produced by combustion and maintains the temperature of other components within acceptable ranges. In addition, some fuel injection systems call for the pouring of liquid fuel at a specific pressure into the crankcase. The power steering system and air conditioning compressors are two additional accessories that are powered by automobile water pumps. Automotive water pumps are thus necessary all around the world because of their varied transportation components.

The function of an automobile water pump is to move coolant through an engine's cooling system. A mechanical or electric motor and impeller are found inside an automotive water pump, which is powered when it is belted or chained to the crankshaft of an engine. It aids in the engine's effective heat dissipation, eliminating burnout. Water pumps also assist in lubricating a number of engine components.

The market for automotive water pumps is anticipated to increase at a CAGR of 6.4% between 2021 and 2031, reaching a value of USD 31.9 billion by that year.

The global increase in vehicle production and sales, the increased demand for fuel-efficient cars, and stricter pollution regulations are all factors that have contributed to the expansion of the automotive water pump marketplace.

The erratic pricing of raw materials and strict government rules governing the usage of electric pumps are predicted to have a detrimental effect on the market for automobile water pumps. The COVID-19 epidemic has also negatively impacted the manufacture and sales of vehicles globally, which has resulted in a decline in the market for automotive water pumps. Furthermore, throughout the projection period, the market expansion would be constrained by the growing preference for electric water pumps over mechanical water pumps. Meanwhile, it is anticipated that during the projected period, technical developments including miniaturization, increased efficiency, and robustness will support the market's development.

COVID-19 Impact and Market Status

The COVID-19 pandemic has had a substantial effect on the automobile sector, causing considerable disruptions in supply chain network analytics and manufacturing. The ease in car manufacturing has led to a fall in the demand for automotive water pumps, which has in turn produced a decline in the market for these pumps globally. The market is predicted to rebound in 2021 as governments all around the world eventually remove their severe regulations. Besides, throughout the course of the forecast period, manufacturers are anticipated to make significant expenditures in R&D activities and the incorporation of cutting-edge technologies, creating potential prospects for the automotive water pump market. During the projection period, it is also anticipated that rising demand from developing nations like China and India would fuel additional market expansion for automotive water pumps.

Segment Analysis

The Mechanical Water Pump Type emerged as the Most Booming Segment

Based on type, the Mechanical water pump market is anticipated to be dominated by mechanical water pumps with a share of 53.1% over the forecasted period. The demand for this kind, which is the most popular for engines with an internal combustion is anticipated to continue high over the projected timeframe.

The Most Prominent Application is the Passenger Car Segment

In terms of market size, the passenger car segment experienced the greatest CAGR of 6.7% among all application categories over the forecast period. This growth was caused by rising global vehicle production and sales. The rising demand for comfort and convenience amenities like airbag technologies, automatic transmission pumps, etc. in passenger automobiles is another element boosting this market's expansion.

The Boosting Industry Segment is OEM

The automotive water pump market is divided into OEMs and Aftermarkets depending on the industry. Due to the rising demand for automotive water pumps in the manufacturing of new vehicles, the OEMs category is anticipated to hold a larger market share throughout the course of the projected period. Additionally, rising personal disposable income has contributed to an increase in water pump service revenues.

The Asia Pacific Region to render Ample Financing Opportunities

Due to increased vehicle production and sales together with stricter emission regulations in the region, the Asia Pacific automotive water pump market is anticipated to experience considerable growth from 2021 to 2031 market for automotive water pumps in China and India is rising as a result of different government initiatives that encourage manufacturers to fulfil stricter pollution standards.

Robert Bosch GmbH, Delphi Automotive PLC, Aisin Seiki Co., Ltd., DENSO Corporation, Federal-Mogul LLC, MAHLE GmbH, Johnson Electric Holdings Limited, and Airtex Products LP (U.S.) are a few of the leading companies in the automotive water pump market. To distinguish themselves from competitors in the market, these businesses have actively engaged in mergers and acquisitions, collaborative projects, new business strategies, and ongoing product innovation.

Recent Developments in the Automotive Water Pump Market

•  Aisin Seiki Co., Ltd. introduced a cutting-edge mechanical water pump technology in January 2020 to enhance the performance and fuel efficiency of automobiles by lowering the power needed for operation.

•  Robert Bosch GmbH created new electric water pumps in August 2020 that can function in a variety of temperature ranges.

•  To improve comfort and cut down on friction losses, Continental AG created a belt-driven water pump in December 2019 with lower noise and vibration levels.

Automotive Water Pump Market Scope

Key Segments of the Global Automotive Water Pump Market

By Type Overview (USD Billion)

• Mechanical Water Pump
• Electric Water Pump

By Application Overview (USD Billion)

• Passenger Car
• Commercial Vehicle

By Regional Overview (USD Billion)

North America

• U.S
• Canada

Europe

• Germany
• France
• UK
• Rest of Europe

Asia Pacific

• China
• India
• Japan
• Rest of Asia Pacific

South America

• Mexico
• Brazil
• Rest of South America

Middle East and Africa