Press release
The Automotive Electric Coolant Valve Market Reach USD 10.06 Billion by 2032 Growing at 8.53% CAGR
The global automotive electric cooling valves market growth due to rise in emission norms and fuel efficiency standards, increase in demand for hybrid and electric vehicles, and increase in demand for hybrid and electric vehicles. However, rise in the cost of raw materials and decrease in ICE Vehicle sales are hampering the market growth. Furthermore, advancements in smart cooling technology and growth in aftermarket demand are anticipated to create lucrative growth opportunities for companies operating in the global market.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ (๐๐๐ญ ๐ ๐ฎ๐ฅ๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐ข๐ง ๐๐๐ - 389 ๐๐๐ ๐๐ฌ) ๐๐ญ: https://www.alliedmarketresearch.com/request-sample/A304661
The global automotive electric coolant valve market size was esteemed at $3,914.5 million in 2020 and is estimated to reach $10,061.1 million by 2032, exhibiting a CAGR of 8.53% from 2023 to 2032.
The global automotive electric coolant valve market is segmented into type, modulation type, communication protocol, vehicle type, voltage, and region. By type, the global market has been fragmented into two-way, three-way, four-way, five ways, and others. By modulation type, the market has been analyzed across pre-configured electric coolant valves and field-configurable electric coolant valves. By communication protocol it is analyzed across direct analog, analog w/ voltage feedback, CAN, LIN and others. On the basis of vehicle type, the market is fragmented into passenger vehicles, light duty vehicles, medium and heavy-duty trucks, buses and coaches, and off-highway vehicles. The off-highway vehicle segment is further fragmented into construction & mining equipment, agriculture vehicles, and industrial vehicles. By voltage type, the market is segmented into 12V and 24V. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
๐๐๐๐๐ฌ๐ฌ ๐ญ๐ก๐ ๐๐ฎ๐ฅ๐ฅ ๐ฌ๐ฎ๐ฆ๐ฆ๐๐ซ๐ฒ ๐๐ญ : https://www.alliedmarketresearch.com/automotive-electric-coolant-valve-market-A304661
Noteworthy Advancements in the Automotive Electric Coolant Valve Sector
โ Leading firms employ diverse strategies, including acquisition, agreements, expansion, partnerships, contracts, and product launches, to fortify their market standing.
โ In December 2023, Hanon Systems invested USD $129 million to enhance facilities in Hungary, focusing on EV thermo parts manufacturing and digital integration in Szรฉkesfehรฉrvรกr, Pรฉcs, and Rรฉtsรกg.
โ October 2023 witnessed Modine Manufacturing Company expanding the production of EVantage thermal management systems in Pontevico, Italy, catering to heavy-duty, commercial, and specialty vehicles in Europe.
โ In November 2021, Hanon Systems inaugurated a dedicated eco-friendly vehicle components plant in Gyeongju-si, Korea, producing solutions for electric vehicles, including heat pump systems and coolant valve assemblies.
โ Voss Fluid GmbH's strategic acquisition of HENZEL Automotive GmbH in September 2020 strengthens Voss Group's automotive unit, fostering growth in thermal management with an enriched product portfolio encompassing thermostats, integrated sensors, and advanced function modules.
๐๐ ๐ฒ๐จ๐ฎ ๐ก๐๐ฏ๐ ๐๐ง๐ฒ ๐ช๐ฎ๐๐ฌ๐ญ๐ข๐จ๐ง๐ฌ, ๐๐ฅ๐๐๐ฌ๐ ๐๐๐๐ฅ ๐๐ซ๐๐ ๐ญ๐จ ๐๐จ๐ง๐ญ๐๐๐ญ ๐จ๐ฎ๐ซ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ญ ๐๐ญ: https://www.alliedmarketresearch.com/connect-to-analyst/A304661
Based on vehicle type, the passenger vehicle segment held the highest market share in 2020 and is estimated to maintain its leadership status throughout the forecast period, due to the increasing adoption of electric and hybrid vehicles. As the automotive industry undergoes a significant shift toward cleaner and more sustainable transportation solutions, electric coolant valves play a crucial role in managing the thermal dynamics of electric vehicle systems. However, the buses and coaches segment is projected to manifest the highest CAGR of 9.56% from 2023 to 2032, due to the increasing adoption of electric and hybrid propulsion systems in the public transportation sector. As cities and regions worldwide prioritize sustainable and environment-friendly transportation solutions, electric buses and coaches have gained prominence.
Based on voltage, the 12V segment held the highest market share in 2020 and is estimated to maintain its leadership status throughout the forecast period 2023 to 2032, owing to the reliable and energy-efficient solution, aligning with the industry's focus on sustainability and meeting the specific requirements of modern automotive applications. However, the 24V segment is projected to manifest the highest CAGR of 9.22% from 2023 to 2032, owing to higher voltage ensuring efficient and rapid control of coolant flow, meeting the demands of advanced automotive systems, and contributing to overall vehicle performance and sustainability.
Based on region, North America held the highest market share in terms of revenue in 2020 and is estimated to maintain its leadership status throughout the forecast period 2023 to 2032, owing to the reliable and energy-efficient solution, aligning with the industry's focus on sustainability and meeting the specific requirements of modern automotive applications. However, LAMEA is projected to manifest the highest CAGR of 10.16% from 2023 to 2032, owing to the automotive industry in these regions undergoing modernization and technological upgrades, the demand for efficient thermal management systems, where electric coolant valves play a vital role, is on the rise, fostering market expansion.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/A304661
๐๐๐ฒ ๐๐ข๐ ๐ก๐ฅ๐ข๐ ๐ก๐ญ๐ฌ ๐จ๐ ๐ญ๐ก๐ ๐๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ ๐๐ฅ๐๐๐ญ๐ซ๐ข๐ ๐๐จ๐จ๐ฅ๐๐ง๐ญ ๐๐๐ฅ๐ฏ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ญ๐ฎ๐๐ฒ:
โ Spanning 14 countries, this study offers regional and segment analysis, projecting values ($million) from 2020 to 2032.
โ The approach combines top-tier data, professional insights, and independent perspectives, aiming for a comprehensive view.
โ Drawing from 3,700+ materials, including product literature and annual reports, enriches the understanding of this dynamic market. The goal is to empower stakeholders in making informed decisions for ambitious growth objectives.
๐๐ฎ๐ฒ ๐๐จ๐ฐ & ๐๐๐ญ ๐๐ฉ๐ญ๐จ ๐๐% ๐๐ข๐ฌ๐๐จ๐ฎ๐ง๐ญ ๐จ๐ง ๐ญ๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ (389 ๐๐๐ ๐๐ฌ ๐๐๐ ๐ฐ๐ข๐ญ๐ก ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ, ๐๐ก๐๐ซ๐ญ๐ฌ, ๐๐๐๐ฅ๐๐ฌ, ๐๐ง๐ ๐ ๐ข๐ ๐ฎ๐ซ๐๐ฌ) ๐๐ญ: https://www.alliedmarketresearch.com/automotive-electric-coolant-valve-market/purchase-options
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