Technavio research projects the electric coolant pump for passenger cars market size to post an incremental growth of USD 12.93 billion, accelerating at a CAGR of 15.24% till 2026. The growth of the market is driven by the rapid electrification of mechanical components. However, the high cost of installation will hamper the electric coolant pump for passenger cars' market share.
This report extensively covers the electric coolant pumps for passenger cars market segmentation by the following:
Application - ICE powertrain and Hybrid and electric powertrain
Geography - Europe, APAC, North America, South America, Middle East, and Africa
The market's growth trajectory is traced through a detailed analysis of the prevalent market forces, trends, and drivers, and vendor analysis along with competitive benchmarking. View Sample Report
Electric Coolant Pump For Passenger Cars Market: Key Market Driver
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 conventional components. One of the primary factors that will trigger the growth of the electric coolant pump for passenger cars market size is the rapid electrification of mechanical components. In addition factors such as the increasing adoption of EVs and the stringent emission control regulations will further positively influence the growth of the market.
However, the design and operational defects causing failure in electric coolant pumps may impede the electric coolant pump for passenger cars market growth.
Electric Coolant Pump For Passenger Cars Market: Vendor Analysis
The market is fragmented due to the presence of several players. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Aisin Seiki Co. Ltd., Bühler Motor GmbH, Continental AG, Gates International Corp. Plc, GMB Co. Ltd., HELLA GmbH & Co. KGaA, Johnson Electric Holdings Ltd., MAHLE GmbH, Robert Bosch GmbH, and Sogefi Spa are some of the major market participants.
The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. Download the PDF Sample Report
