Global Electric Water Pump Market 2023-2030

Global Electric Water Pump Market 2023-2030

Global Electric Water Pump Market Size, Share & Trends Analysis Report by Product Type (12V EWP and 24V EWP), by Application (Engine, Turbocharger, Battery, and Others), and by End-User (Automotive, Water & Wastewater, Energy & Power, and Others), Forecast Period (2023-2030)

The global electric water pump market is anticipated to grow at a CAGR of 10.7% during the forecast period (2023-2030). Electric water pump uses a motor to send coolant from the cooling system to the engine internals. The growing adoption of innovative product that cater to the modern consumer including superior quality and high performance electric water pump is the key factor supporting the growth of the market globally.Additionally, the wide product range of technologically superior pumps provide the users optimum benefits including low maintenance costs, higher durability and performance, value for money as well as less energy consumption. Hence, the market players are also focusing on introducing an array of innovative features Electric Water Pump solutions that bolster the market growth. For instance, in May 2023, Crompton Greaves Consumer Electricals Ltd.'s launched its Mini Master Plus Pump, equipped with unique Hy-flo MAX* Technology. The latest flagship comes with an array of innovative features and speeds up the process of pumping water, thereby ensuring faster water tank filling in half the time.

According to the International Energy Agency (IEA), in March 2023, Heat pump sales increased by more than 11.0% globally in 2022. In Europe, in which the largest markets are France, Germany and Italy, sales grew by around 40.0% year-on-year, reaching almost 3 million units.In the US, sales of air-to-air units grew by 11.0% compared to the year before.

More heat pump units were sold in China in 2022 than in any other country, despite a slowdown in sales growth. Air-to-water heat pumps mainly used for space heating make up a small segment of the Chinese market, but they saw growth of more than 20.0% in 2022. Around 40.0% of all heat pumps are manufactured in China, making the country the largest producer and exporter of this technology, with most of its exports going to Europe.

In Japan, sales of air-to-air heat pumps were largely stable in 2022 as most units sold were to replace existing installations, which are typically one-third less efficient than new models, but air-to-water units, led by heat pump water heaters, grew by 19.0%.

Segmental Outlook

The global electric water pump market is segmented on the product type, application, and end-user. Based on the product type, the market is sub-segmented into 12V EWP and 24V EWP. Based on the application, the market is sub-segmented into engine, turbocharger and battery. Further, on the basis of end-users, the market is sub-segmented into automotive, water & wastewater, energy & power and others (chemical). Among the applications, the battery sub-segment is anticipated to hold a considerable share of the market owing to the rise in adoption of the commercial pump industry toward battery-operated equipment ensuring an electric water pump motor’s efficiency to achieve its performance rating and maintaining maximum uptime.

The Water & Wastewater Sub-Segment is Anticipated to Hold a Considerable Share of the Global Electric Water Pump Market

Among the end-user, the water & wastewater sub-segment is expected to hold a considerable share of the global electric water pump market. The segmental growth is attributed to the growing influence of the advanced wastewater treatment systems, Pumps also consume a significant amount of energy, and these are used for wastewater collection and other processes throughout the plant. The water and wastewater industry requires significant amounts of energy to produce and provide clean water, and to process the subsequent wastewater. Various electric water pumps are engineered specifically to tackle water demands deep underground. At the heart of each unit is a unique cloverleaf intake that allows for higher flow with 3/4 inch diameter solids handling. For instance, in April 2021, Franklin Electric Co., Inc. launched the Little Giant 12E Series ½ HP Effluent Pump for dewatering, water transfer and septic wastewater removal. The Series’ rugged design and reliable features make it ideal for challenging deep vault effluent applications.

Regional Outlook

The global electric water pump market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America. Among these, Asia-Pacific is anticipated to hold a prominent share of the market across the globe, owing to the rising popularity of electric and hybrid vehicles, strict emission laws, better fuel economy standards, and more efficient engines. The key market player includes Shimge Pump Industry Group Co., Ltd., Kirloskar Brothers Ltd. (KBL), Ebara Corp. and others.

The North America Region is Expected to Grow at a Significant CAGR in the Global Electric Water Pump Market

Among all regions, the North America regions is anticipated to grow at a considerable CAGR over the forecast period. Regional growth is attributed to advancements in pump technology that have improved fundamental process operations, increased pump dependability, and provided long-term reductions in routine operating procedures. These developments have also improved pump performance and dependability while using less energy. These advanced pumps are used in various end-use industries such as agriculture, power, industrial wastewater, and chemicals, thereby augmenting their demand for electric water pumps.

Stringent regulations intended to reduce residential water pollution are anticipated to have a significant influence on raising the demand for water treatment in the municipal and industrial sectors. It is anticipated that rising household use of municipal facilities for water and wastewater treatment will have a significant impact on the market. To improve the quality of industrial electric water pumps along with installing advanced process control. This has led to increased spending by pump manufacturers in the region in an attempt to improve energy efficiency, which is likely to drive the demand for improved energy-efficient pumps in the region. The key market player includes DAE Pumps, Federal-Mogul Corp., Flowserve Corp., Goulds Pumps, SPX Flow, Inc., Xylem Inc. and others.

Market Players Outlook

The major companies serving the global electric water pump market include Aisin Seiki Co., Ltd., Continental AG, KSB Pumps & Motors, Robert Bosch GmbH, Xylem Inc. and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in January 2023, XylemInc., partnered with Idrica to bring together Xylem’s portfolio of digital solutions, with Idrica’s GoAigua technology. As part of the partnership, the companies offer an integrated software and analytics platform – Xylem Vue powered by GoAigua – that enables water and wastewater utilities to connect and manage their digital assets and streamline operations in a simple, secure and holistic view.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global electric water pump market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.