The Electric Water Pumps for Commercial and Off-Highway Vehicles Market was valued at USD 1,095.3 Million in 2019 and is projected to reach USD XXXX.6 Million by 2027, expanding at a CAGR of 6.2% during the forecast period. The market is driven by factors such as rising focus of automakers toward fuel-efficient vehicles, weight reduction of EWP by auto manufacturers, growing pollution levels worldwide, availability of raw materials, and ease of manufacturing EWP. However, technical issues with the EWP and higher cost as compared to mechanical pumps are key restraints of this market. Rising replacement rate of mechanical pump with EWPs and increasing demand for commercial vehicles are boosting the market.
On the basis of types, the market is segmented into primary electric pump and secondary electric pump. The secondary electric pump segment is anticipated to expand at a CAGR of X.X% during the forecast period due to its increasing demand in commercial vehicles. The primary electric pump segment is estimated to hold X5.9% share of the market in 2020 owing to its superior efficiency in the heavy commercial vehicles and off-highway vehicles.
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On the basis of types, the electric water pumps for commercial & OHV market is segmented into primary electric pump and secondary electric pump. The primary electric pump segment accounts for a major share of the market and the secondary electric pump segment is anticipated to expand at a high CAGR during the forecast period.
The secondary electric pump segment is expected to grow at substantial rate in the market due to its increasing demand from commercial automotive industry and is preferred as compared to electric water pump. Growing demand for commercial vehicles and their maintenance are fueling market growth.
A primary electric pump is a safe option for heavy commercial vehicles and off-highway vehicles, where high engine efficiency is required. The primary electric pump is installed while manufacturing vehicles and rarely post-sales of the vehicle due to the high cost of replacement. Currently, many electrical vehicles are pre-installed with the primary electric pump during the manufacturing process as a part of an OEM.
Electric water pumps are an important addition to any commercial and OHV, as they reduce fuel consumption and increase efficiency. However, compared between the primary electric pump and secondary electric pump, there is no clear-cut option, as it depends on the intended use of the vehicle.
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