Latest News - Electric Coolant Pump for Passenger Cars Market 2024-2028: Europe Leads Market Growth

Electric Coolant Pump For Passenger Cars Market to grow at a CAGR of 20.6% during 2024-2028

The Electric Coolant Pump For Passenger Cars Market is expected to grow at a CAGR of 20.6% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 26581.6 million. In the automotive industry, there is a significant focus on enhancing vehicle safety, comfort, and performance, particularly in the development of electric and hybrid vehicles (EVs). This trend has led to advancements in electric pumps, such as the next-generation electric water pumps (EWP) introduced by Gates in November 2021. This innovative technology is designed for use in automotive, light commercial, and heavy-duty vehicles, catering to both hybrid and battery electric vehicle (BEV) applications. The compact design of this electric pump offers improved efficiency and accuracy in determining coolant temperature, making it a valuable addition to the EV market. 

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The ICE powertrain subsegment is expected to dominate the Application segment during the forecast period 

Technavio analysts predict that the ICE powertrain subsegment will lead the Application segment during 2024 and 2028 The Electric Coolant Pump (ECP) market for passenger cars is experiencing significant growth due to the increasing demand for fuel efficiency and reduced emissions. ECPs offer several advantages over traditional coolant pumps, including improved thermal efficiency, quieter operation, and longer service life. Moreover, stringent emission norms and regulatory compliance are driving OEMs to adopt ECPs in their new models. The market is expected to expand at a robust CAGR during the forecast period.

Here are the various ways based on which the market is segmented: 

• Application
  • ICE powertrain
  • Hybrid and electric powertrain
• Type
  • Battery electric vehicle
  • Plug-in hybrid electric vehicle
  • Hybrid electric vehicle
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC   
  • Europe
    • France
    • Germany
    • Italy
    • Netherlands
    • Norway
    • Sweden
    • Switzerland
    • UK
    • Rest of Europe
  • North America
    • US
    • Canada
  • ROW
    • UAE
      South Africa
      Others

Key Companies and Market Insights

Some of the key companies in the Global Electric Coolant Pump For Passenger Cars Market include:

• Concentric AB
• Continental AG
• Johnson Electric Holdings Ltd
• Aisin Seiki Co. Ltd.
• Hitachi Automotive Systems Ltd.
• Hella Gmbh & Co. KGAA
• Gates Corp.
• Hanon Systems
• ZF Friedrichshafen AG
• GMB North America
• Pierburg GmbH
• Robert Bosch GmbH
• Rheinmetall AG
• Schaffler AG
• Valeo SA
• Mahle GmbH
• Siemens AG
• Visteon Corp.
• Denso Corp.
• Schaeffler AG

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There are several factors that are causing the market to flourish rapid electrification of mechanical components

Learn which are the obstacles that the market is experiencing in the way of its growth by accessing the free PDF report

Research Analysis Overview

The Electric Coolant Pump market for passenger cars is witnessing significant growth due to the increasing demand for fuel-efficient technologies and stricter emission norms. Vehicle segmentation includes Coupe, MPV, Hatchback, Sedan, and SUVs, with each segment requiring advanced cooling systems for optimal engine performance. Electric vehicles (EVs) and hybrid vehicles are driving the market for electric coolant pumps, as battery thermal management is crucial for their efficient operation. Electrification of vehicle powertrains is leading to the adoption of electric coolant pumps, reducing power consumption and improving fuel efficiency. Motor design and coolant flow control are key factors influencing market growth. Global emission regulations, such as Euro 6 and US EPA, are pushing the adoption of electric coolant pumps to manage exhaust emissions and improve fuel consumption. Turbocharged engines also require electric coolant pumps for efficient thermal management. Aftermarket installations of electric coolant pumps are increasing due to their ability to enhance vehicle performance and reduce fuel consumption. In conclusion, the Electric Coolant Pump market for passenger cars is poised for growth, driven by vehicle electrification, emission regulations, and the need for fuel-efficient technologies.

Market Research Overview

The global automotive components and equipment market encompasses businesses producing parts and accessories for various vehicle types, including passenger cars (PCs), electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers. According to Technavio, the market size is determined by the consolidated revenue generated by automotive components and equipment manufacturers. Key growth drivers for this market include the rising demand for electronic control units (ECUs) and other electronic components due to the increasing sales of ECUs and other electrical components in PCs, EVs, and motorcycles over the past decade.

The Electric Coolant Pump For Passenger Cars Market is experiencing significant growth, fueled by the rapid electrification of mechanical components. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
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