Using hydraulic and mechanical principles, a water pump is a device that transfers water via a piping system from one location to another. An automotive electric water pump controls volume flow by engine demands and is powered by a motor and battery. Among other uses, these pumps are frequently employed to supply water (fluid) for municipal, industrial, domestic, and agricultural applications. It works by pumping the fluids through several impellers, electrically or battery-powered valves, and other components. In addition to generating more electricity and reducing greenhouse gas emissions, electric water pumps can enhance engine reliability and performance.
According to SPER market research, ‘Electric Water Pump Market Size- By Type, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Global Electric Water Pump Market is estimated to reach USD XX billion by 2033 with a CAGR of XX%.
More stringent emission regulations, improved fuel economy requirements, the growing popularity of electric and hybrid cars, and more effective engines are some of the factors driving this market's growth. Other technological advancements such as downsizing, better materials for these pumps, and the development of networked motor coordination systems all contribute to the growth of this industry. Electric water pumps with improved efficiency and lower power usage are in greater demand as governments, businesses, and consumers work to minimize environmental impact and cut energy use. These pumps' acceptance and market expansion are fuelled by the perception that they are essential parts of energy-efficient systems, particularly in areas like building management, industrial operations, and water supply. Additionally, mechanical water pumps are usually more powerful than electric ones. They are not able to transport as much coolant as mechanical pumps because of their lower flow rates. These elements are anticipated to limit this market's expansion.
Factors such as installation difficulty, high cost, and frequency of maintenance limit the market for electric water pumps. Traditional water pumps are far less expensive to purchase and install than electric ones. These products also require regular maintenance to prevent harm from other sources, such as overheating. Another barrier to the market is the reliance of the electric water pump industry on the price and availability of raw materials, which affects the products' cost of manufacturing and retail price. Similarly, the development of hybrid, plug-in hybrid, and fuel-cell automobiles may result in a price reduction for electric water pumps under specific conditions. This could further impede this market's growth during the projected period.
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The COVID-19 pandemic has had a major impact on the electric water pump sector since it has affected worldwide supply chains and production. The pandemic has reduced demand for electric water pumps, with the automotive industry being one of the primary industries impacted. As a result, the pandemic impeded the market growth. However, as a result of increased expenditures made by government agencies and industry leaders in cutting-edge technology like electric vehicle charging stations and self-driving automobiles, there is a growing demand for energy-efficient electric water pumps.
Electric Water Pump Market Key Players:
The market for electric water pumps is anticipated to be dominated by North America. The market is anticipated to expand at a notably rapid rate in the Asia Pacific region. The leading companies in the market include Bosch Rexroth Corporation, Federal-Mogul Corporation, Flowserve Corporation, Grundfos Group, IHI Corporation, and Robert Bosch GmbH.
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Electric Water Pump Market Scope
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