Most of the cars driven on the road today are cooled by employing a mechanically driven coolant pump, which is considered as the conventional method, where the engine drives the pump. In the future when cars become electrically driven, a mechanical coolant pump cannot be used. Hence the development of an electric coolant pump is highly essential for the drastically changing auto industry. Advancements in mechatronics technology available for automotive applications, substantial portions of vehicle components are replaced with electrified parts to boost engine efficiency and thereby reduction in emissions. Recent developments in the industry towards higher voltage systems and advanced hybrid power trains make it possible to bring electric pumps into working. The primary application of this motor in the automotive field is to basically increase the engine performance by reducing the parasitic losses of the engine.
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Electric Coolant Pumps Market Overview:
The market research study Electric Coolant Pumps analyses and assesses the market's position during the forecast period. It is a comprehensive examination that focuses on primary and secondary drivers, market share, leading segments, and geographical analysis. Key actors, big partnerships, mergers, and acquisitions, as well as current innovation and corporate strategies, are also examined in the research.
Electric Coolant Pumps Market is expected to reach US$ 678.73 Bn by 2027, at a CAGR of 17.01 % during the forecast period.
Electric Coolant Pumps Market Scope:
Using both primary and secondary research approaches, we researched the Electric Coolant Pumps Market from every viewpoint. This helped us gain a better understanding of current market dynamics such as supply-demand imbalances, pricing trends, product preferences, customer habits, and so on. The data is then compiled and analyzed using a range of market estimation and data validation techniques. Furthermore, we have an in-house data forecasting engine that forecasts market growth through 2027.
Following the successful completion of market engineering, which included calculations for market statistics, market size estimations, market projections, market breakdown, and data triangulation, extensive primary research was conducted to gather information and verify and validate key figures. Top-down and bottom-up procedures, as well as numerous data triangulation methods, were frequently used throughout the market engineering process to perform market estimating and forecasting for the overall market segments and sub-segments discussed in this research. In order to give vital information throughout the report, extensive qualitative and quantitative analysis is done on all statistics gathered during the whole market engineering process.
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Electric Coolant Pumps Market Segmentation:
OEMs increasingly prefer seal-less pumps over sealed pumps in electric vehicles. Numerous technical benefits, including negligible leakage and better efficiency offered by sealless pumps, have been the major factors driving their popularity. Also, since electric vehicles operate at lower temperatures than ICE vehicles, seal-less pumps are a suitable option for electric vehicles. Thus, with increasing sales of electric vehicles, the seal-less pump market is expected to gain momentum in the future. Additionally, continuous research and developments in seal-less pump technology are also anticipated to drive its growth.
Electric Coolant Pumps Market Key Players:
• Rheinmetall Automotive AG
• Robert Bosch GmbH
• Aisin Seiki Co., Ltd
• Continental AG
• MAHLE GmbH
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Primary and secondary research is used to identify industry leaders, while primary and secondary research is utilized to determine market revenue. Primary research included in-depth interviews with key opinion leaders and industry professionals such as seasoned front-line personnel, CEOs, and marketing personnel. Secondary research included a review of the leading manufacturers' annual and financial reports, whereas primary research included in-depth interviews with key opinion leaders and industry specialists such as experienced front-line personnel, CEOs, and marketing personnel. Secondary data is utilized to determine percentage splits, market shares, growth rates, and market breakdowns, which are then checked using primary data. The players highlighted in this report are as follows:
The report covers both qualitative and quantitative data and gives an in-depth look into the Electric Coolant Pumps industry area by region. It gives a segment-by-segment overview and forecast of the worldwide Electric Coolant Pumps market. It also estimates the market size and forecasts for five major regions from 2021 to 2027: North America, Europe, Asia-Pacific, the Middle East, Africa, and South America. Each area's Electric Coolant Pumps market is further subdivided into regions and segments. The report investigates and forecasts many countries, as well as existing trends and prospects in the field.
COVID-19 Impact Analysis on Electric Coolant Pumps Market:
We researched and analyzed the Electric Coolant Pumps Business Expansion Strategy post-COVID-19, by organizational strategic analysis, landscape, category, utilization, and leading countries, which encapsulates and analyses the Electric Coolant Pumps industry's potential, providing statistical data on market trends, growth regulators, major challenges, PORTER analysis, and market entry strategy analysis, prospects, and forecasts. The fundamental purpose of the research is to offer industrial businesses a strategic analysis of COVID-19's influence. Simultaneously, this study looked into the markets of major countries and highlighted their market potential in post-pandemic scenarios.
Key Questions Answered in the Electric Coolant Pumps Market Report are:
What are the most promising high-growth opportunities in the Electric Coolant Pumps sector, as defined by product category, End User, and Region?
Which Electric Coolant Pumps market segments will expand the fastest, and why?
Which regions will have the fastest growth, and why?
What are the primary elements influencing Electric Coolant Pumps market dynamics? What are the primary drivers and obstacles in the Electric Coolant Pumps market?
What are the Electric Coolant Pumps market's weaknesses and threats?
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