Electric Coolant Pump Market Outlook - 2027
Electric coolant pump is used to recirculate coolant to the engine of the vehicle. Coolant is a green color liquid that is used to cool the components of the power train and other accessories such as battery, electronic circuits, and cabin heating. Coolant is used to transmit heat away from the engine or devices that generate heat as a by-product of producing energy. Electric coolant pump ensures sufficient cooling at lower RPM at high engine loads and vice versa. This helps to reduce emissions and saves fuel. Therefore, these features of the pump result in the growth of the electric coolant pump market.
COVID-19 scenario analysis:
- COVID-19 has rapidly affected the sale in the automobile industry, thus hampering the growth of the electric coolant pump market.
- COVID-19 pandemic has reduced the mobility and use of vehicles, thus hampering the growth of the electric coolant pump market.
- Decline in traffic and long-term trips resulted in no heat production in vehicles, thus resulting in reduced use of coolant.
- Lockdown and slow production of automobiles led to the low demand for electric coolant pumps.
- Significant fall in demand and unavailability of cash have affected the electric coolant pump market.
Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
The significant factors that lead to the growth of the electric coolant pump market are increase in sales & production of vehicles and increase in demand for eco-friendly & fuel efficient vehicles. Moreover, temperature constraint and high cost of the pump hamper the growth of the electric coolant pump market. Furthermore, increase in production of vehicles and increase in demand for eco-friendly vehicles are anticipated to fuel the growth of the electric coolant pump market.
Increase in sales & production of vehicles
Electric coolant pump is the major component of vehicles and machines, which produce excessive heat. With increase in the production of vehicles, requirement of their components also increases. Therefore, increase in sales of vehicles results in the growth of the electric coolant pump market in the coming years.
Increase in demand for eco-friendly & fuel efficient vehicles
Electric coolant pump provides cooling to the heated engines to normalize the temperature. Cooling of engines reduces the emission of gases, which are harmful for the environment. In addition, reduction in gases provides fuel efficiency to vehicles. Therefore, increase in efficiency of fuel leads to the growth of the electric coolant pump market.
Key benefits of the report:
- This study presents the analytical depiction of the electric coolant pump market along with current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the electric coolant pump market share.
- The current market is analyzed to highlight the electric coolant pump market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the electric coolant pump market research report:
- Which are the leading market players active in the market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Electric Coolant Pump Market Report Highlights
By Vehicle Type
By Communication Interface
By Power Output
Key Market Players
Aisin Seiki Co. Ltd., Johnson Electric Holdings Ltd., DENSO CORPORATION, MAHLE GmbH, HANON SYSTEMS, INDUSTRIE SALERI ITALO S.P.A, Robert Bosch GmbH, Continental AG, Rheinmetall Automotive AG, CONCENTRIC AB