CHICAGO, May 26, 2020 /PRNewswire/ -- According to the new
market research report "Electric Coolant Pump Market by
Type (Sealed, Sealless), Sealless (Electrical, Magnetic), Power
Output (<100W, >100W), Vehicle Type (PV, 48V, CV, BEV, PHEV),
Communication Interface (LIN, CAN, PWM), Application and Region -
Global Forecast to 2027", published
by MarketsandMarkets™, the global
Electric Coolant Pump Market size for electric vehicles is
projected to reach USD 662 million by
2027 from an estimated USD 227
million in 2020 at a CAGR of 16.5% during the forecast
period.
The growth of Electric Coolant Pump Market size is influenced by
factors such as stringency in emission norms, increasing sales of
electric vehicles, and turbocharged engines. Additionally, rising
sales of electric vehicles, continuous developments in pump
specifications like power output, and growing collaborations
between electric coolant manufacturers and OEMs are also driving
its growing popularity. Therefore, the Electric Coolant Pump Market
is expected to witness significant growth in the future.
Browse in-depth TOC on "Electric Coolant Pump Market"
133 – Tables
62 – Figures
199 –
Pages
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48V is expected to be the largest market in the vehicle
voltage segment
According to MarketsandMarkets analysis, the 48V Electric
Coolant Pump Market is estimated to be the largest during the
forecast period. 48V vehicle architecture is growing in popularity
due to increasing sales of 48V vehicles and MHEVs. As 48V vehicles
employ more number of electric coolant pumps than 12V vehicles,
increasing sales of 48V vehicles is expected to drive the electric
coolant pump volume market. Also, as 48V hybrid systems register
reduced emissions, this vehicle architecture is finding its
adoption in various vehicle models. Thus, with the growing
popularity of 48V vehicle architecture, the electric coolant pump
is expected to witness an evident growth in the future.
The commercial vehicles segment is expected to grow with the
highest CAGR in electric vehicle use segment
Commercial vehicles are expected to witness significant growth
during the forecast period. The growing demand for electrified
buses and trucks is boosting the demand for electric coolant pumps
globally. Additionally, increasing sales and availability of
various electric pick-up vehicles such as Toyota RAV4, Chrysler
Pacifica Hybrid, and Toyota Highlander driven by government
subsidies is anticipated to propel commercial vehicles Electric
Coolant Pump Market. Also, the growing adoption of 48V vehicle
architecture owing to various technical advantages is expected to
impact the Electric Coolant Pump Market significantly. As various
electric coolant pump manufacturers are focusing on developing
high-powered electric coolant pumps (suitable for commercial
vehicles), commercial vehicles are expected to register a
noticeable growth.
Asia Pacific region is
expected to lead the market during the forecast period.
Asia Pacific is estimated to be
the largest market for the Electric Coolant Pump Market with
China (global hub) and
Japan (an important automotive
hub) holding a significant share in the market. The growing
popularity of BEVs and hybrid turbocharged engines is expected to
give China a considerable boost in
the Electric Coolant Pump Market. The introduction of BS-VI
emission norms in India is a
crucial factor expected to drive the Electric Coolant Pump Market
growth in the forecast period. The presence of prominent players
and the growing availability of hybrid vehicle models will support
the Electric Coolant Pump Market. Additionally, the presence of key
players like Aisin Seiki Co., Ltd, Johnson Electric, GMB
Corporation, etc. is expected to create favorable opportunities for
the Electric Coolant Pump Market.
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The Electric Coolant Pump Market is dominated
by globally established players such as Rheinmetall Automotive AG
(Germany), Robert Bosch GmbH
(Germany), Aisin Seiki Co., Ltd.
(Japan), Continental AG
(Germany), and MAHLE GmbH
(Germany).
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