Electric Coolant Pumps Procurement Intelligence expected to grow at a CAGR of 16.5% from 2023 to 2030
Electric Coolant Pumps Procurement Intelligence The electric coolant pumps category is expected to grow at a CAGR of 16.5% from 2023 to 2030. In 2022, the Asia Pacific region dominated the e-pumps category with 40% of the total share. Some of the key factors influencing the sales of electric vehicles (EVs) include the rising levels of vehicle pollutants, rising fuel prices, and the incentives provided by different governments to encourage the use of EVs. All these factors are in turn driving the demand for electric coolant pumps. Fluctuations in the prices of raw materials are expected to hamper the category's growth. Supply chain problems in various regions, particularly in Europe, were aggravated by the Russian-Ukrainian war in 2022. This in turn affected the general pricing dynamics of the electric pump category. Germany was obliged to severely scale back or, in some cases, cease its automotive activities as a result of the crisis, which made the country's economy worse. R...