MarketResearchReports.Biz has announced addition of new report “Global Electric Coolant Pump Market For Passenger Cars 2016-2020” to its database.
Albany, NY -- (SBWIRE) -- 11/15/2016 -- The report examines the global market for electric coolant pump, focusing on the 2016 statistics of the industry. To explain the electric coolant market's 2020 figures, a detailed overview of the market's development trajectory since 2016 is given in the report. The report, titled 'Global Electric Coolant Pump Market For Passenger Cars 2016-2020,' is available for sale on the official website of MarketResearchReports.biz. According to the report, the global electric coolant pump market for passenger cars is expected to expand at a healthy CAGR of 15% from 2016 to 2020.
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The global electric coolant market for passenger cars is highly fragmented and is characterized by the presence of various established players and small firms. Key players in the market are Bosch, KSPG, Davies Craig, Continental, Johnson Electric, Mahle Group, and Aisin Seiki. Players are introducing new and innovative products in order to survive in the market. Players are also developing specialized products with upgraded technology to match the advancements in the automotive industry. The growing need for fuel-efficient cars will prompt extensive research on electric coolant pumps, thus ensuring advancements in them. Also, the need to reduce greenhouse gas emissions will compel players to invest in technologies and come up with innovative products
According to the report, the global electric coolant pump market is driven by increasing efforts by governments across the globe to curb pollution and control harmful emissions. Governments have also laid stringent norms regarding pollution and emissions control, and this is expected to drive the global electric coolant pump market for passenger cars. Original equipment manufacturers (OEMs) are attempting to diversify their product portfolio so as to launch plug-in hybrid vehicles, having advanced technologies and this will create a need for mid-sized electric coolant pumps, driving the market worldwide.
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The global electric coolant pump market for passenger cars is segmented on the basis of geography and engine capacity type. By engine capacity type, the market is segmented into full-size, compact size, and mid-size. The mid-size segment led in 2015, accounting for 58% of the market. The demand for mid-size engines is higher owing to the high fuel efficiency they provide to vehicles. In addition to this, mid-size engines reduce tax implications on OEMs. The growth of the segment is expected to continue even in the coming years as government norms regarding emissions will continue to create a need for these engines.
On the basis of geography, the global electric coolant pump market for passenger cars is segmented into the Americas, Asia Pacific, and Europe. It is expected that Europe will account for 14% of the market by 2020. Factors contributing to the growth of the market in Europe include electrification of car components for improved cooling and optimal fuel usage.
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