Automotive Electric Water Pump Market Size

Automotive Electric Water Pump Market size was over USD 3.96 billion in 2024 and is anticipated to exceed USD 21.99 billion by the end of 2037, growing at over 14.1% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of automotive electric water pump is evaluated at USD 4.41 billion. The growth of the market can primarily be attributed to the growing sale of vehicles worldwide, giving rise to the demand for necessary parts of powertrains. It was found that the global sales of automobiles were more than 68 million units in 2021. The increasing disposable income of many middle-class people with the rising economic growth of countries is estimated to boost the purchasing capacity of people. Also, vehicle purchasing has become necessary for everyone during the post-pandemic. A personal vehicle is most preferred as it allows for an easy traveling experience. The digitalization technology of vehicles, which automates the driving system, is also raising the demand for vehicle sales. The increase in vehicle sales in turn rises the demand for and use of electric water pumps around the world. Additionally, the availability of second-hand vehicles that are in good condition increases the sales of automobiles during the forecast period.

The rising urbanization across the world is projected to drive market growth as per the market analysis during the forecast period. The rising advancements in technology and the development of infrastructure in all private and public organization increases urbanization. Nearly 4.4 billion people live in cities, which is about 56% of the population across the world, as per the estimations of the World Bank Organization in 2022. Additionally, the growing number of industries, educational institutions, and job opportunities drives rural people to migrate to the cities, which rises the urban population. The rising urban population increases the living standards of people, thereby increasing their spending capacity. The increasing literacy rate led to a social transformation with improved housing, water sanitation, health, and transport services. Moreover, the increasing government initiative to improve public services also leads to urbanization.