A recent report published by Infinium Global Research on electric water circulation pump for electric vehicle market provides in-depth analysis of segments and sub-segments in the global as well as regional electric water circulation pump for electric vehicle market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional electric water circulation pump for electric vehicle market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global electric water circulation pump for electric vehicle market. The global electric water circulation pump for electric vehicle market was valued at 516.5 million in 2022 and is expected to reach 1770.7 million in 2030, with a CAGR of 16.9% during the forecast period 2023-2030.
An electric water circulation pump is a component used in Electric Vehicles (EVs) to circulate coolant through the vehicle's battery cooling system. The pump helps to regulate the temperature of the battery pack and prevent overheating, which can damage the battery cells and reduce their lifespan. The pump is typically powered by the vehicle's main battery pack and is controlled by the vehicle's Battery Management System (BMS). The BMS monitors the battery pack’s temperature and adjusts the pump's speed to maintain a consistent temperature range. Electric water circulation pumps are commonly used in electric cars, trucks, buses, and other types of EVs. They are designed to be compact, efficient, and reliable, and are often integrated into the vehicle's cooling system to minimize installation complexity. Overall, the electric water circulation pump plays a critical role in maintaining the health and performance of an EV's battery pack, helping to ensure that the vehicle operates safely and efficiently.
The global shift towards electric vehicles has led to a surge in demand for electric water circulation pumps, which play a crucial role in ensuring efficient and reliable battery cooling systems. As consumers become increasingly aware of the need to reduce carbon emissions and protect the environment, the demand for electric vehicles continues to rise, driving the growth of the market for electric water circulation pumps. Governments in many countries are offering incentives and subsidies to encourage the adoption of electric vehicles, creating a favorable market environment for these pumps, and boosting demand. Despite this growth, the high cost of electric water circulation pumps may discourage some consumers from purchasing electric vehicles. However, as the popularity of electric vehicles continues to grow, manufacturers have an opportunity to expand their production capacity and meet the rising demand for these pumps. Overall, with the increasing demand for electric vehicles and government support, the electric water circulation pump market presents a favorable environment for manufacturers to grow their businesses and meet the growing demand for efficient and reliable battery cooling systems.
The market for electric water circulation pumps for electric vehicles is expected to be significant in North America, Europe, and Asia Pacific. In North America, the increasing adoption of electric vehicles and the presence of major electric vehicle manufacturers are expected to drive the demand for electric water circulation pumps. The United States is one of the largest markets for electric vehicles globally, and the demand for these pumps is expected to grow in parallel. Europe is another major market for electric water circulation pumps, driven by the region's strict emissions regulations and the growing demand for electric vehicles. The European Union has set ambitious targets for reducing carbon emissions, and the adoption of electric vehicles is expected to increase to meet these targets. This is expected to create a favorable market environment for electric water circulation pumps in the region. The Asia Pacific region is also expected to be a significant market for electric water circulation pumps, driven by the growing adoption of electric vehicles in countries such as China, Japan, and South Korea. These countries are home to some of the largest electric vehicle manufacturers globally and are expected to lead the growth of the electric vehicle market in the coming years. Overall, the market for electric water circulation pumps for electric vehicles is expected to grow globally, with North America, Europe, and Asia Pacific being the major markets. Manufacturers can take advantage of these regional opportunities to expand their business and meet the growing demand for efficient and reliable battery cooling systems in electric vehicles.
The report on global electric water circulation pump for electric vehicle market covers segments such as voltage type, type, and application. On the basis of voltage type, the sub-markets include 12v electric water circulation pump (wup), and 24v electric water circulation pump (wup). On the basis of type, the sub-markets include variable coolant pump, centrifugal pump, positive displacement pump, and axial flow pump. On the basis of application, the sub-markets include battery electric vehicles (bevs), plug-in hybrid electric vehicles (phevs), and off-highway electric vehicles (ohevs).
The report provides profiles of the companies in the market such as Hitachi, Ltd., Continental AG, Rheinmetall AG, Hanon Systems, Bühler Motor GmbH, Johnson Electric Holdings Limited, Valeo, Yinlun Co., Ltd., Gates Corporation, and Others.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the electric water circulation pump for electric vehicle market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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