What is an Electric Coolant Pump? Explore its Market
With a projected CAGR of 16.5%, the global market for electronic pumps for electric vehicles is expected to grow from an estimated USD 227 million in 2020 to USD 662 million by 2027. -------------------------------------------------- Since an electric coolant pump contributes to the reduction of pollutants, the severe emission standards that are being implemented internationally are anticipated to greatly fuel the expansion of the electric coolant pump market. For instance, the implementation of China VI and Euro VI has compelled automakers to use fuel-efficient technologies like coolant pumps in their automobiles. However, relatively expensive prices and upkeep may impede the expansion of the market as a whole. Before understanding its market size, let’s discuss what it exactly means! Understanding Electric Coolant Pump An essential component of the car's cooling system, the electric coolant pump is needed to maintain engine temperature, power train cooling, and other accesso...