Global Automotive Electric Water Pump Market Overview:
To manage a volume flow on demand for engine and other parts of vehicle such as power electronics, the automotive electric water pump is used. The electric water pump is utilized to cool turbocharged air for light duty and passenger vehicles. An electric water pump consumes 90% less energy than a mechanically operated water pump. An electric water pump has multiple advantages over the mechanical water pump like better engine temperature management, lower emission, elimination of engine heat sock, and improvement of engine life.
Factors Driving the Growth of Global Automotive Electric Water Pump Market:
Automotive Electric Water Pump Market is estimated to grow in forecasted period owing to supporting factors such as growing demand for weight reduction and fuel efficiency of electric water pump by auto manufacturer. Growing demand for less fuel consumption and enhanced performance of the vehicle is also likely to propel the demand for electric water pump in the automotive industry in coming years. Some of the auto manufacturers in Europe provide electric water pumps for various models of vehicles.
Based on geography, the Automotive Electric Water Pump Market primarily segmented into Europe, North America, Latin America, Middle East & Africa and North America. Due to factors such as faster expansion of automobile industry and presence of major economies like Japan, China and India, Asia Pacific region is predicted to be growing at highest pace of CAGR in forecasted year. North America and Europe regions have contributed major portion to the global market in previous years and are likely to deliver the significant statistics in Global Automotive Electric Water pump Market in the forecast period.
Key Players in Automotive Electric Water Pump Market:
The major companies actively operating in the global market include Valeo Service, Magna International Inc., Robert Bosch GmbH, Behr Hella Service GmbH, Continental AG, and Schaeffler AG.
Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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