Emphasis on Type (Sealed and Seal Less); Vehicle (Battery Electric (BEV), and Plug-in Hybrid Electric Vehicle (PHEV)); Application (Engine Cooling & HVAC and Battery and Power Electronics Cooling); Power Output (Below 100w and Above 100w); and Region/Country
Global Electric Coolant Pump Market is expected to grow at a significant rate of around 16% during the forecast period 2022-2028. 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.
Electric Coolant Pump Market Report Coverage
“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.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Impact Of Covid-19 On The Electric Coolant Pump Market
6. Electric Coolant Pump Market Revenue (usd Bn), 2020-2028f
7. Market Insights By Type
8. Market Insights By Vehicle
9. Market Insights By Application
10. Market Insights By Power Output
11. Market Insights By Region
12. Electric Coolant Pump Market Dynamics
13. Electric Coolant Pump Market Opportunities
14. Electric Coolant Pump Market Trends
15. Demand And Supply-side Analysis
16. Value Chain Analysis
17. Competitive Scenario
18. Company Profiled
19. Disclaimer
Research Methodology for the Electric Coolant Pump Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global electric coolant pump market were the three major steps undertaken to create and analyze the adoption of electric coolant pump in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global electric coolant pump market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the electric coolant pump market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the electric coolant pump market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type, vehicle, application, and power output. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the electric coolant pump market. Further, we conducted factor analysis using dependent and independent variables such as various type, vehicle, application, and power output of electric coolant pump. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the electric coolant pump market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global electric coolant pump market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions`
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global electric coolant pump market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product, type outlook, application, and end-use in the global electric coolant pump market.
The main objective of the Global Electric Coolant Pump Market Study
The current & future market trends of the global electric coolant pump market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
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