The Global Electric Coolant Pump Market Growth is Accelerated by Rising Demand for Fuel Efficient Vehicles

Electric coolant pumps are devices that circulate coolant fluid through an internal combustion engine to maintain optimum temperature for combustion efficiency and reduced emissions. They help improve fuel efficiency by minimizing engine friction through precise temperature control and consuming less energy than mechanically driven pumps. The rising focus on fuel efficiency and stringent emission norms have increased the adoption of electric coolant pumps in modern vehicles.

The global Electric Coolant Pump Market is estimated to be valued at US$ 5.18 Bn in 2023 and is expected to exhibit a CAGR of 3.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Rising demand for fuel efficient vehicles has been a major driving factor for the electric coolant pump market. With growing environmental concerns and stringent emission regulations, automakers are focusing on improving fuel efficiency of vehicles. Electric coolant pumps help automakers comply with regulations as they facilitate minimized engine friction and optimize combustion efficiency through precise temperature control. They reduce parasitic losses and improve thermal management compared to mechanically driven pumps. This has increased their adoption significantly, especially in hybrid and electric vehicles. Manufacturers are also developing advanced variable speed electric coolant pumps with intelligent controls to improve efficiency based on changing operating conditions.

Segment Analysis

The Global Electric Coolant Pump Market Size is dominated by the electric coolant pump for combustion engines sub-segment. Electric coolant pump finds major applications in combustion engines to circulate the coolant throughout the engine system to remove excess heat produced during operation. Majority of passenger and commercial vehicles today rely on electric coolant pump rather than engine-driven pumps to offers superior features like easy adjustability of flow rate and better control over temperature. Moreover, electric pumps are more efficient than engine driven pumps.

Key Takeaways

The global electric coolant pump market is expected to witness high growth over the forecast period of 2023 to 2030.

Regional analysis: The Asia Pacific region currently dominates the global electric coolant pump market with countries like China and India being the major markets. This is attributed to the large automotive production bases in these countries. Moreover, growing vehicle parc along with hot weather conditions demand efficient coolant pumps for proper engine cooling.

Key players operating in the electric coolant pump market are International Paper Company, Georgia-Pacific LLC, Finch Paper LLC, Burgo Group SPA, Alberta Newsprint Company Ltd., Rolland Enterprises Inc., P.H. Glatfelter Co., American Eagle Paper Mills, Asia Pacific Resources International Holdings Ltd., Canfor Corporation, Domtar Corporation, Twin Rivers Paper Company Inc., UPM-Kymmene Oyj, BillerudKorsnÀs AB, Catalyst Paper Corporation, Clearwater Paper Corporation, Stora Enso Oyj, Verso Corporation, Mitsubishi Paper Mills Limited, Delta Paper Corp.

Get More Insights On This Topic: https://www.newsstatix.com/electric-coolant-pump-market-size-share-analysis-2023-2030/

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