Summary

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 minimise emissions from vehicles. Rapid electrification of mechanical components will consequently accelerate the growth of the electric coolant pump market for passenger cars.

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. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
“Amongst type outlook, seal less category to hold a dominant share in the market in 2021”
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 is 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.

“Amongst vehicle, the BEV category to witness higher CAGR during the forecast period”
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, Tesal 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.

“Amongst power input, below 100W category to hold a dominant share in the market in 2021”
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, a wide range of product availability is also propelling 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.

“Europe to hold a significant share in the market”
In 2021, 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.

Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:
The global electric coolant pump market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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