According to a new report published by UnivDatos Markets Insights, the Electric Coolant Pump Market was valued at more than USD 380 million in 2021 and is expected to grow at a CAGR of around 16% from 2022-2028. The analysis has been segmented into Type (Sealed and Seal Less); Vehicle (Battery Electric (BEV), and Plug-in Hybrid Electric Vehicle (PHEV)); Application (Engine Cooling & HVAC and Battery and Power Electronics Cooling); Power Output (Below 100w and Above 100w)); Region/Country.
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The electric coolant pump market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the electric coolant pump market. The electric coolant pump market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the electric coolant pump market at the global and regional levels.
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Market Overview
Global Electric Coolant Pump Market is expected to grow at a significant rate of around 16% during the forecast period. Most vehicles on the road today use a mechanically driven coolant pump, which is regarded as the traditional cooling system in which the engine powers the pump. However, with the technological advancements, companies have launched electric coolant pump. The dynamic automotive sector and quickly evolving innovations are what drive the global market for electric coolant pumps. The industry benefits from the mechanical parts being replaced by electronic components because of the automobile sector's continual advancement in technology. Manufacturers are being compelled to create powertrain components using cutting-edge technologies by the growing demand to minimize emissions from vehicles. Rapid electrification of mechanical components will consequently accelerate the growth of the electric coolant pump market for passenger cars.
Some of the major players operating in the market include Rheinmetall AG, Robert Bosch GmbH, Audi AG, AISIN CORPORATION, Continental AG, DENSO CORPORATION, Grayson Thermal Systems, Industrie Saleri Italo S.p.A., Avid Technology, Inc., and Bühler Motor GmbH.
COVID-19 Impact
The recent covid-19 pandemic slowed down the investment and production units, hampering the business dynamic of electric coolant pump market. The covid-19 pandemic negatively influenced the electric coolant pump market, owing to the disruption in the supply chain, the shutdown of production units and decline the demand of the product.
The global electric coolant pump market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on the type, market is bifurcated into sealed and seal less. In 2021, the seal-less category accounted for a sizeable portion of the market due to the OEMs' strong preference for them. The main elements influencing seal less pumps' popularity are a number of technological advantages, such as the little leakage and increased efficiency they provide. Additionally, seal-less pumps are a good choice for electric vehicles because they operate at lower temperatures than ICE vehicles. Thus, the market for seal-less pumps is anticipated to grow in the future as electric car sales increase. Its expansion is also predicted to be fueled by ongoing research and advancements in seal-less pump technology.
· On the basis of vehicle, the market is bifurcated into Battery Electric (BEV), and Plug-in Hybrid Electric Vehicle (PHEV). The BEV category is expected to register high CAGR during the forecast period due to the increase in investments by key players to develop advanced battery solutions for BEV. For example, in October 2021, Tesla announced the use of lithium-iron-phosphate (LFP) cathode batteries in all its standard range of electric cars to enhance its profit margin. These batteries have enhanced life expectancy, require no maintenance, and are lightweight, thus having a positive impact on segmental growth.
· On the basis of power output, the market is bifurcated into below 100W and above 100W. The below 100W category held a dominant share of the market in 2021 due to a surge in demand for auxiliary cooling purposes. Moreover, wide range of product availability is also propelling the segmental growth. For instance, Robert Bosch brushless electric coolant pump PCE 2.0 features a modular design and is available in four electrical power ratings of 40, 60, 80, and 100 W to satisfy the diverse requirements of coolant circuits.
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Electric Coolant Pump Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
In 2020, Europe held a significant share of the global electric coolant pump market due to increase in sales of electric vehicles, and rising government initiatives to promote electric vehicles in the region. For instance, the European Commission had pumped around USD 793.59 billion in stimulus package, including USD 21.16 billion, to boost the sales of clean vehicles. Thus, growing initiatives from the government for accelerating production and imbibing awareness for clean vehicles are the prominent factors propelling the demand of electric vehicles, driving the demand for electric coolant pumps.
The major players targeting the market include
· Rheinmetall AG
· Robert Bosch GmbH
· Audi AG
· AISIN CORPORATION
· Continental AG
· DENSO CORPORATION
· Grayson Thermal Systems
· Industrie Saleri Italo S.p.A.
· Avid Technology, Inc.
· Bühler Motor GmbH
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Electric Coolant Pump market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the electric coolant pump market?
• Which factors are influencing the electric coolant pump market over the forecast period?
• What are the global challenges, threats, and risks in the electric coolant pump market?
• Which factors are propelling and restraining the electric coolant pump market?
• What are the demanding global regions of the electric coolant pump market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
Table of Content:-
1 MARKET INTRODUCTION
2 RESEARCH METHODOLOGY OR ASSUMPTION
3 MARKET SYNOPSIS
4 EXECUTIVE SUMMARY
5 IMPACT OF COVID-19 ON THE ELECTRIC COOLANT PUMP MARKET
6 ELECTRIC COOLANT PUMP MARKET REVENUE (USD BN), 2020-2028F
7 MARKET INSIGHTS BY TYPE
8 MARKET INSIGHTS BY VEHICLE
9 MARKET INSIGHTS BY APPLICATION
10 MARKET INSIGHTS BY POWER OUTPUT
11 MARKET INSIGHTS BY REGION
12 ELECTRIC COOLANT PUMP MARKET DYNAMICS
13 ELECTRIC COOLANT PUMP MARKET OPPORTUNITIES
14 ELECTRIC COOLANT PUMP MARKET TRENDS
15 DEMAND AND SUPPLY-SIDE ANALYSIS
16 VALUE CHAIN ANALYSIS
17 COMPETITIVE SCENARIO
18 COMPANY PROFILED
19 DISCLAIMER
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