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.
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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.
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
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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.
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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.
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.
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