Based on Technavio's market sizing methodology, the electric coolant pump for passenger cars market size is predicted to surge to USD 12.93 billion from 2021 to 2026 at a CAGR of 15.24%.

This electric coolant pump for passenger cars market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. The electric coolant pump for passenger cars market report also offers information on several market vendors, including Aisin Corp., AVID Technology Ltd., Buhler Motor GmbH, Continental AG, Davies Craig Pty Ltd., Gates Industrial Corp. Plc, GMB Co. Ltd., Hanon Systems, HELLA GmbH and Co. KG, Johnson Electric Holdings Ltd., MAHLE GmbH, Mikuni Corp., Nidec Corp., Rheinmetall AG, Robert Bosch GmbH, SANHUA Automotive, Sogefi Spa, TBK Co. Ltd., Valeo SA, and VOVYO TECHNOLOGY Co. Ltd. among others.

This report extensively covers electric coolant pump for passenger cars market segmentation by the following:

• Application - ICE powertrain and Hybrid and electric powertrain
• Geography - Europe, APAC, North America, South America, and Middle East and Africa

What will the Electric Coolant Pump for Passenger Cars Market Size be During the Forecast Period?

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Electric Coolant Pump for Passenger Cars Market: Key Drivers, Trends, and Challenges

The rapid electrification of mechanical components is notably driving the electric coolant pump for passenger cars market growth, although factors such as recalls due to faulty electric coolant pumps may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the electric coolant pump for passenger cars industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Electric Coolant Pump for Passenger Cars Market Driver

One of the key factors driving growth in the electric coolant pump for passenger cars market is the rapid electrification of mechanical components. 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. for instance, the conventional ICE is integrated with electronic components and controlled with the help of the engine management system. Similarly, hydraulic power steering is being replaced with electric power steering. Also, advances in the transmission system are increasing the adoption of automatic transmission vehicles. These types of electrification in the automotive market, especially in the passenger cars segment, are being widely accepted and witnessing high adoption. In addition to these developments, the growing need to reduce vehicular emissions is compelling vehicle manufacturers to implement advancements in powertrain components. However, it is expected to drive the demand for electric coolant pump markets, thereby driving the global electric coolant pump market for the passenger cars during the forecast period.

Key Electric Coolant Pump for Passenger Cars Market Trend

The improvements in the automotive electric pump market system is a key electric coolant pump for passenger cars market trend that is expected to have a positive impact in the coming years. The prime concentration of vehicle manufacturers is one of the developments of the automotive system to improve the safety, comfort, and performance of the vehicle. With the advent of EVs, the majority of the developments are for EVs related parts and components. for instance, Tesla Inc. (Tesla) has developed an electric pump system that can monitor and report the condition of the oil used as a lubricant in vehicles. This electric pump by Tesla is more compact than other traditional electric oil pumps and has higher accuracy in determining the oil temperature. These improvements in the electric pumps used in EVs are likely to be incorporated in ICE vehicles, mainly the passenger cars segment. This is expected to positively impact the global electric coolant pump for passenger cars market during the forecast period.

Key Electric Coolant Pump for Passenger Cars Market Challenge

The product recalls due to faulty electric coolant pumps will be a major challenge for the electric coolant pump for passenger cars market. Defective products or potential system failures in vehicles can lead to product recalls by vehicle manufacturers. Due to this, vehicle manufacturers had to bear the complete cost of a product recall. for instance, in 2018, BMW recalled about 48,000 vehicles that were potentially equipped with defective electric auxiliary coolant pumps. The affected vehicles had ECU-driven electric auxiliary coolant pumps that could overheat at high engine speeds, mainly the circuit boards installed with these components were prone to overheating because of a critical flaw in the design. Similarly, AUDI AG (AUDI) recalled more than 1 million vehicles in 2018 due to faulty electric coolant pumps that had the potential to overheat and start firing. Such vehicle recalls due to defective electric coolant pumps or potential failure of electric coolant pumps are likely to challenge the growth of the global electric coolant pump for passenger cars market during the forecast period.

This electric coolant pump for passenger cars market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global electric coolant pump for passenger cars market as a part of the global automotive components and accessories market within the global auto components market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the electric coolant pump for passenger cars market during the forecast period.

Who are the Major Electric Coolant Pump for Passenger Cars Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• Aisin Corp.
• AVID Technology Ltd.
• Buhler Motor GmbH
• Continental AG
• Davies Craig Pty Ltd.
• Gates Industrial Corp. Plc
• GMB Co. Ltd.
• Hanon Systems
• HELLA GmbH and Co. KG
• Johnson Electric Holdings Ltd.
• MAHLE GmbH
• Mikuni Corp.
• Nidec Corp.
• Rheinmetall AG
• Robert Bosch GmbH
• SANHUA Automotive
• Sogefi Spa
• TBK Co. Ltd.
• Valeo SA
• VOVYO TECHNOLOGY Co. Ltd.

This statistical study of the electric coolant pump for passenger cars market encompasses successful business strategies deployed by the key vendors. The electric coolant pump for passenger cars market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• aisin.com - The company offers electric water pump which increases fuel efficiency for hybrid vehicles, improving fuel consumption and extending engine life by reducing mechanical and thermal stress.

• aisin.com - The AISIN Seiki Group segment manufactures automotive parts, lifestyle and energy-related products, construction and engineering-related products, and oils.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The electric coolant pump for passenger cars market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Electric Coolant Pump for Passenger Cars Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the electric coolant pump for passenger cars market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Electric Coolant Pump for Passenger Cars Market?

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43% of the market's growth will originate from Europe during the forecast period. Germany, France, and UK are the key markets for electric coolant pump for passenger cars in Europe. Market growth in this region will be slower than the growth of the market in other regions.

The growing demand for ICE-based luxury cars will facilitate the electric coolant pump for passenger cars market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

Despite the outbreak of the COVID-19 pandemic, governments in Europe have maintained strict regulations on CO2 emissions, with a target of 95 grams of CO2 per kilometer by 2021. Many major Europe-based automotive OEMs have publicly committed to reaching this target and have rolled out many new models of EVs. This indicates that EV sales in the region increased despite the pandemic in 2020, and they are expected to increase during the forecast period. These factors are expected to drive the growth of the electric coolant pump for passenger cars market in the region during the forecast period.

What are the Revenue-generating Application Segments in the Electric Coolant Pump for Passenger Cars Market?

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The electric coolant pump for passenger cars market share growth by the ICE powertrain segment will be significant during the forecast period. The ICE powertrain segment of the global electric coolant pump market for passenger cars includes both gasoline- and diesel-powered passenger cars.  The revenue in the global electric coolant pump market for passenger cars in the ICE powertrain segment is only generated from luxury cars such as BMW 5 Series, BMW 7 Series, AUDI A4, and AUDI A6. The adoption of electric coolant pumps is expected to increase in luxury passenger cars during the forecast period owing to its wide benefits in terms of fuel efficiency and emission.

This report provides an accurate prediction of the contribution of all the segments to the growth of the electric coolant pump for passenger cars market size and actionable market insights on post COVID-19 impact on each segment.

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What are the Key Data Covered in this Electric Coolant Pump for Passenger Cars Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive electric coolant pump for passenger cars market growth during the next five years
• Precise estimation of the electric coolant pump for passenger cars market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the electric coolant pump for passenger cars industry across Europe, APAC, North America, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of electric coolant pump for passenger cars market vendors

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