A new report published by Transparency Market Research anticipates that the increase in demand for fuel efficiency, weight reduction of electric water pump by auto manufacturers, rising demand for better performance and fuel consumption of the vehicle is likely to boost the demand for electric water pump in the automotive industry during the forecast period.
The global automotive electric water pump market can be segmented based on electric pump type, vehicle type, sales channel, and region. Based on electric pump type, the automotive electric water pump market can be classified into primary electric pump and secondary electric pump. The primary electric pump completely replaced the mechanical water pump in modern vehicles.
Based on region, the automotive electric water pump market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The global automotive electric water pump market is a fragmented market considering the rising vehicle production in Asia Pacific, owing to the significant expansion of the automotive industry in China, Japan, and India. Asia Pacific likely to hold a major share of the global market, in terms of revenue, during forecast period.
Key players operating in the global automotive electric water pump market include Schaeffler AG, Continental AG, Behr Hella Service GmbH, Robert Bosch GmbH, Magna International Inc., and VALEO SERVICE.
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