Global Electric Coolant Pump Market for Passenger Cars: About this market
The electric coolant pump is driven by an electric motor and can provide on-demand cooling based on engine load/vehicle load. This electric coolant pump market for passenger cars analysis considers sales from both hybrid and electric powertrain and internal combustion engine (ICE) powertrain. Our analysis also considers the sales of electric coolant pump in APAC, Europe, MEA, North America, and South America. In 2018, the hybrid and electric powertrain segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as increasing adoption of electric vehicles (EVs) will play a significant role in the hybrid and electric powertrain segment to maintain its market position. Also, our global electric coolant pump market for passenger cars report also looks at factors such as increasing adoption of EVs, rapid electrification of mechanical components, and stringent emission control regulations. However, recalls due to faulty electric coolant pumps, high cost of installation, and design and operational defects causing failure in electric coolant pumps may hamper the growth of the electric coolant pump industry over the forecast period.
Global Electric Coolant Pump Market for Passenger Cars: Overview
Rapid electrification of mechanical components
The automotive industry is highly competitive, and manufacturers must adopt newer and fast-changing technologies to sustain in the market in the long term. Technological advances in the automotive industry are replacing mechanical components with electronic components as they are more efficient and capable of handling higher complexities than the conventional components. There are multiple automotive controls that are replaced with electronic components to improve the safety and comfort of users and to reduce the weight of the vehicle. This demand for technological advancements will lead to the expansion of the global electric coolant pump market for passenger cars at a CAGR of almost 41% during the forecast period.
Improvements in the automotive electric pump system
The prime concentration of vehicle manufacturers is on the development of the automotive system to improve the safety, comfort, and performance of the vehicle. With the advent of EVs, the majority of the developments are for EVs related parts and components. As a result, there have been advances in electric pumps, especially their design, that are used in EVs. Such improvements in electric coolant pumps are expected to offer benefits such as improved efficiency in heat transfer, thus improving the performance of the vehicle. This development is expected to have a positive impact on the overall market growth.
With the presence of several major players, the global electric coolant pump market for passenger cars is fragmented. This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading electric coolant pumps manufacturers, that include Aisin Seiki Co. Ltd., Continental AG, Johnson Electric Holdings Ltd, MAHLE GmbH, and Robert Bosch GmbH.
Also, the electric coolant pump market for passenger cars analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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