Report : Middle East & Africa Electric Coolant Pump Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Drop-In bedliners, Spray-On bedliners, and Others) and Material (Polyurethane, Aluminium Carpet, and Others)
At 14.8% CAGR, the Middle East & Africa Electric Coolant Pump Market is speculated to be worth US$ 158.29 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Middle East & Africa electric coolant pump market was valued at US$ 69.02 million in 2022 and is expected to reach US$ 158.29 million by 2028, registering an annual growth rate of 14.8% from 2022 to 2028. Improvement of electric coolant pumps over mechanical pumps and surge in production of vehicles and rise in demand for eco-friendly vehicles.
The automobile industry is one of the pillars of the global economy. It is the main driver of technological advancement, macroeconomic growth, and stability in developed and developing countries, spanning many adjacent industries. The core automotive industry supports a wide range of business segments—upstream, core automotive, and downstream. Government regulations, country’s GDP, and purchasing power of consumers are among the prominent factors influencing the evolution and momentum of the automotive industry. The government’s policies to promote electric vehicle sales in the automotive industry play a crucial role in the demand of electric vehicles, influencing vehicle production. As per the data published by the International Organization of Motor Vehicle Manufacturers (OICA) statistics, in the pre-COVID scenario, the production and sales of automotive vehicles were increasing at a faster pace, owing to growth in country’s GDP and rise in consumer spending. However, the pandemic hampered the country’s GDP as well as the spending power of the consumers, which eventually impacted the buying trend of automotive in 2020. However, in 2022, with ease in restrictions and reopening of business activities, the production and sales witnessed an abrupt increase which depicts a potential demand for electric coolant pumps. This is expected to drive the market during the forecast period.
On the contrary, temperature challenges and high installation and maintenance budgets hurdles the growth of Middle East & Africa electric coolant pump market.
Based on application, the Middle East & Africa electric coolant pump market is categorized into engine cooling & HVAC, battery & power electronics cooling, and gearbox cooling. The engine cooling & HVAC segment held 84.5% market share in 2022, amassing US$ 58.30 million. It is projected to garner US$ 132.16 million by 2028 to expand at 14.6% CAGR during 2022–2028.
Based on power, the Middle East & Africa electric coolant pump market is bifurcated into below 100 W and above 100 W. The Below 100 W segment held 67.5% market share in 2022, amassing US$ 46.58 million. It is projected to garner US$ 105.47 million by 2028 to expand at 14.6% CAGR during 2022–2028.
Based on vehicle type, the Middle East & Africa electric coolant pump market is categorized into passenger cars, light commercial vehicles, and heavy commercial vehicles. The passenger cars segment held 80.3% market share in 2022, amassing US$ 55.41 million. It is projected to garner US$ 125.99million by 2028 to expand at 14.7% CAGR during 2022–2028.
Based on propulsion type, the Middle East & Africa electric coolant pump market is categorized into ICE, electric, and hybrid. The ICE segment held 98.4% market share in 2022, amassing US$ 67.90 million. It is projected to garner US$ 155.50 million by 2028 to expand at 14.8% CAGR during 2022–2028.
Based on pump type, the Middle East & Africa electric coolant pump market is bifurcated into with ECU and without ECU. The without ECU segment held 92.4% market share in 2022, amassing US$ 63.77 million. It is projected to garner US$ 146.92 million by 2028 to expand at 14.9% CAGR during 2022–2028
Based on country, the Middle East & Africa electric coolant pump market has been categorized into the South Africa, Saudi Arabia, the UAE, and Rest of Middle East & Africa. Our regional analysis states that South Africa captured 63.3% market share in 2022. It was assessed at US$ 43.66 million in 2022 and is likely to hit US$ 103.97 million by 2028, exhibiting a CAGR of 15.6% during the forecast period.
Key players dominating the Middle East & Africa electric coolant pump market are Aisin Seiki Co. Ltd.; Continental AG; Hanon Systems; Hitachi Automotive Systems, LTD.; Johnson Electric Holdings Limited; Mahle GmbH; Rheinmetall Automotive AG; Robert Bosch GmbH; GMB CORPORATION; and VOVYO Technology Co. Ltd among others.
- In Mar 2022, MAHLE Aftermarket expands thermal management portfolio.
- In Oct 2018, Rheinmetall Automotive wins major orders from the international automaker.
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