Infinium Global Research recent report on the Electric Water Circulation Pump for Electric Vehicle Market (By Voltage Type (12V Electric Water Circulation Pump (WUP), and 24V Electric Water Circulation Pump (WUP); By Type (Variable Coolant Pump, Centrifugal Pump, Positive Displacement Pump, and Axial Flow Pump); By Application (Battery Electric Vehicles (BEVs), Plug-in Hybrid Electric Vehicles (PHEVs), and Off-highway Electric Vehicles (OHEVs)): Industry Analysis, Trends, Size, Share and Forecasts up to 2030 provides a comprehensive outline of the factors responsible for the growth of the 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.
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Electric water circulation pumps are crucial components in electric vehicles (EVs) as they help to regulate the temperature of the battery pack and prevent overheating, which can damage the battery cells and reduce their lifespan. These pumps are powered by the EV's primary battery pack and are controlled by the vehicle's battery management system (BMS). The BMS continuously monitors the temperature of the battery pack and adjusts the pump's speed accordingly to maintain a consistent temperature range. These pumps are compact, efficient, and reliable, making them an ideal choice for use in electric cars, trucks, buses, and other EVs. They are typically integrated into the vehicle's cooling system to simplify the installation process. Overall, the electric water circulation pump plays a vital role in ensuring the health and performance of an EV's battery pack, thereby contributing to the safe and efficient operation of the vehicle.
The Variable Coolant Pump Segment Holds a Significant Market Share in the Electric Water Circulation Pump for the Electric Vehicle Market
Based on Type, the Electric water circulation pump for the electric vehicle Market is segmented into a Variable coolant pump, Centrifugal pump, Positive displacement pump, and Axial flow pump. Among these, the Variable coolant pump segment holds a significant market share in the Electric water circulation pump for the electric vehicle Market. A variable coolant pump is a type of electric water circulation pump that is commonly used in automotive applications, particularly in electric and hybrid electric vehicles. The pump is responsible for circulating coolant through the engine, electric motor, and battery system to regulate their temperature and prevent overheating.
The main advantage of a variable coolant pump is that it can adjust its flow rate and power consumption based on the cooling requirements of the system, which helps to reduce energy consumption and improve overall system efficiency. This is achieved through the use of an electronically controlled motor that can vary the pump speed and flow rate as needed. Variable coolant pumps are also designed to be lightweight, compact, and durable, making them well-suited for use in modern vehicles. They can help to improve fuel efficiency and reduce emissions, while also enhancing the overall performance and reliability of the vehicle's cooling system. Overall, variable coolant pumps play a critical role in ensuring the proper operation and longevity of automotive powertrains and battery systems, particularly in the context of electric and hybrid electric vehicles.
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North America is a Significant Region in the Electric Water Circulation Pump for the Electric Vehicle Market
The North American market for electric water circulation pumps in electric vehicles is anticipated to be significant, driven by the region's increasing adoption of electric vehicles and the presence of major electric vehicle manufacturers. With the United States being one of the largest markets for electric vehicles globally, the demand for electric water circulation pumps is expected to grow in parallel. The dominance of the United States in the market is attributed to its strong automotive industry and the presence of major electric vehicles manufacturers such as Tesla, General Motors, and Ford.
Furthermore, the government's introduction of various initiatives and subsidies to encourage electric vehicle adoption is expected to further propel the market's growth. In addition, Canada is also expected to contribute to the market growth due to the country's increasing adoption of electric vehicles. The Canadian government has set a target to sell only zero-emission vehicles by 2040, which is anticipated to further drive the demand for electric water circulation pumps in the country.
Companies Operating in Electric Water Circulation Pumps for the Electric Vehicle Market are Focusing
The global Electric water circulation pump for the electric vehicle Market, which is highly competitive, consists of various market players. Some of the major market players include Electric water circulation pump for electric vehicle, Hitachi, Continental, Rheinmetall Automotive, Hanon Systems, Buehler Motor, Johnson Electric, Valeo SA, Yinlun Co., Ltd., and Gates Corporation.
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=> Comprehensive analysis of global as well as regional markets of electric water circulation pump for electric vehicle.
=> Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2030.
=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand, and/or diversify.
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