Electric Coolant Pump Market - Industry Size, Share, Growth

Electric coolant pump is a critical part of the cooling systems in the automobile that is used in the maintenance of the engine temperature, power train cooling, and other accessories such as the battery, and power electronic cooling. These pumps offer several advantages in comparison to mechanically driven pumps in terms of efficiency, cost effectiveness, and others. Thus, due to this, the demand for electric coolant pump is tremendously growing in the market. Apart from this, the surge in the production of vehicles and associated boost in the demand for eco-friendly vehicles is also propelling the growth of the market during the forecast period.

The Electric Coolant Pump Market is expected to grow at a steady rate of around 16% owing to technological advancements and an increase in investment by automotive giants. The key players are adopting strategic alliances to maintain their position in the global market. For instance, in April 2022, Concentric AB received a new development contract to supply high voltage electric coolant pumps for a battery electric mining machine. The customer, a global construction OEM, will use our e-pumps for cooling the batteries and power electronics on a large fully electric mining machine.

𝐓𝐨 𝐆𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐟𝐮𝐥 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 - https://univdatos.com/get-a-free-sample-form-php/?product_id=34742

Based on type, the market is bifurcated into sealed and seal less. The seal less category held a significant share of the market in 2021 due to their high preference among OEMs. Several technical benefits, such as negligible leakage and enhanced efficiency offered by seal less pumps, are the major factors driving their popularity. Also, since electric vehicles operate at lower temperatures than ICE vehicles, seal-less pumps are a suitable option for electric vehicles. Thus, with increasing sales of electric vehicles, the seal-less pump market is expected to gain momentum in the future. Additionally, continuous research and developments in seal-less pump technology are also anticipated to drive its growth.

Based on the 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 the positive impact on segmental growth.

APAC to witness extensive growth

For a better understanding of the market adoption of the electric coolant pump, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC held a significant share of the market in 2021. It is mainly due to the surge in the sales of electric vehicles in the region due to the stringent government norms. In addition, product innovation and demand for EVs are expected to play a vital role in Asia’s market growth. For instance, in South Korea, in 2021, Eurol Lubricants introduced the new Coolant -36°C GLX-AV, a coolant suitable for modern cars, including EVs from Japanese and Korean auto brands such as Honda, Hyundai, Mazda, Kia, and Mitsubishi. Major automakers & suppliers are increasing their focus on enhancing their global footprints in target markets by boosting the production of vehicles and automotive components. For example, in 2019, Tesla started the construction of its manufacturing plant in Shanghai, China.

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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Electric Coolant Pump market are Polaris Inc., Honda Motor Co. Ltd., Textron Inc., Kawasaki Heavy Industries Ltd., Yamaha Motor Co. Ltd., Suzuki Motor Corporation, Deere & Company, Bombardier Recreational Products Inc., KWANG YANG MOTOR CO. LTD., and Hisun Motors Corp.

“Global Electric Coolant Pump Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.

Market Segmentation:

1. By Type (Sealed and Seal Less)

2. By Vehicle (Battery Electric (BEV), and Plug-in Hybrid Electric Vehicle (PHEV)

3. By Application (Engine Cooling & HVAC and Battery and Power Electronics Cooling)

4. By Power Output (Below 100w and Above 100w)

5. By Region (North America, Europe, Asia-Pacific, Rest of the World)

6. By Company (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.)

Key questions answered in the study:

1. What are the current and future trends of the global electric coolant pump industry?

2. How the industry has been evolving in terms of type, vehicle type, application and power output?

3. How the competition has been shaping across the countries followed by their comparative factorial indexing?

4. What are the key growth drivers and challenges for the global electric coolant pump industry?

5. What is the customer orientation, purchase behavior, and expectations from the global electric coolant pump suppliers across various region and countries?