WILMINGTON, Del., February 13, 2024 (Globe Newswire) — Allied Market Research has published a report titled: “Automotive Electric Cooling Valve Market by Type (Two-Way, Three-Way, Four-Way, Five-Way, Others), Modulation Type (Preconfigured Electric Cooling Valve and Field Configurable Electric Cooling Valve), Communication Protocol (Direct Analog , analog) with voltage feedback, CAN, LIN, etc.), vehicle type (passenger cars, light vehicles, medium and heavy trucks, buses and coaches, off-highway vehicles), and voltage (12V and 24V): Global opportunities Analysis and Industry Forecasts, 2023-2032.” According to the report, globally, Industry size of automotive electric cooling valves Revenue in 2020 was $3,914.5 million and is expected to reach $10,061.1 million by 2032, registering a CAGR of 8.53% from 2023 to 2032.
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Key determinants of growth
The automotive electric cooling valve market is witnessing significant growth due to advancements in automotive and industrial technology. These valves are essential components of thermal management systems and play a critical role in regulating coolant flow to maintain optimal temperatures in a variety of applications. One of the key trends shaping the market is the increasing adoption of electric and hybrid vehicles, where precise temperature control is essential for efficient battery performance and overall system reliability. Demand for motorized cooling valves is also increasing in industrial processes such as manufacturing and power generation where effective thermal management is critical. Opportunities abound to integrate smart, connected technology within these valves, enabling real-time monitoring and control and increasing efficiency. Additionally, the market is benefiting from the global focus on sustainability, with electric cooling valves contributing to energy savings and reduced environmental impact. Factors such as stringent emission standards and increasing focus on green technologies are further driving the market expansion.
Report scope and details:
| Report scope | detail |
| Forecast period | 2023-2032 |
| base year | 2020 |
| Market size in 2020 | $3.91 billion |
| Market size in 2032 | $10.06 billion |
| CAGR | 8.53% |
| Number of pages in the report | 398 |
| Target segment | Type, modulation method, communication protocol, vehicle model, voltage, region |
| driver | Raising exhaust gas and fuel efficiency standards
Increasing demand for hybrid and electric vehicles Increased need for advanced thermal management |
| opportunity | Advances in smart cooling technology
Expanding aftermarket demand |
| restraints | Rising raw material costs
Decrease in ICE vehicle sales |
Bidirectional segment will maintain its leadership position throughout the forecast period
Based on type, the bidirectional segment held the highest market share in 2020 and is the leader throughout the forecast period 2023-2032 as it provides precise control of coolant flow that helps optimize engine performance. It is estimated that it will maintain its position. and efficiency. However, the 4-way segment is projected to exhibit the highest CAGR of 9.48% from 2023 to 2032 due to increasing adoption of electric vehicles and demand for advanced thermal solutions. The 4-way electric cooling valve helps increase energy efficiency, extend battery life, and improve the overall performance of your vehicle cooling system.
Pre-configured electric cooling valve segment to maintain leadership position throughout the forecast period
Based on modulation type, the preconfigured electric cooling valve segment held the highest market share in 2020, and these preconfigured valves come with predefined settings and specifications, making it easy to install is estimated to maintain its leadership position throughout the forecast period. Improve processes and reduce complexity for manufacturers. However, the field-configurable electric coolant valve segment is projected to exhibit the highest CAGR of 8.94% from 2023 to 2032, thanks to valves that can adjust coolant flow on the fly, with specific Accurate temperature control is possible according to the vehicle and operating conditions. requirements.
Remarkable advances in the automotive electric coolant valve field
Leading companies employ diverse strategies such as acquisitions, deals, expansions, partnerships, agreements, and product launches to strengthen their market positions.
- in December 2023Hanon Systems has invested USD 129 million to strengthen its facilities in Hungary, focusing on the manufacturing and digital integration of EV thermocomponents in Székesfehérvár, Pécs and Lezág.
- October 2023 We have seen Modine Manufacturing Company expand production of its EVantage thermal management system in Pontevico, Italy to serve heavy duty, commercial and specialty vehicles in Europe.
- in November 2021Hanon Systems has opened a dedicated eco-friendly auto parts factory in Gyeongju, South Korea, producing solutions for electric vehicles such as heat pump systems and coolant valve assemblies.
- Strategic acquisition of HENZEL Automotive GmbH by Voss Fluid GmbH September 2020 Strengthens Voss Group's automotive division and drives growth in thermal management with a rich product portfolio that includes thermostats, integrated sensors and advanced functional modules.
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LIN segment maintains top position during forecast period
Based on communication protocols, the LIN segment held the highest market share in 2020 and is estimated to maintain its leadership position throughout the forecast period due to its simplicity, low complexity, and lower implementation cost. Masu. LIN provides a streamlined communication interface, making it ideal for components that require basic and deterministic communication within a vehicle's network. However, the CAN segment will exhibit the highest CAGR of 9.34% from 2023 to 2032 as it provides reliable and high-speed communication networks that enable real-time data exchange between various systems including electric cooling valves. It is predicted that This efficiency is critical for precisely controlling coolant flow and temperature regulation in modern vehicles, especially electric and hybrid vehicles.
Passenger car segment will maintain its leadership position throughout the forecast period
Based on vehicle type, the passenger vehicles segment held the highest market share in 2020 and is estimated to maintain its leadership position throughout the forecast period due to increasing adoption of electric and hybrid vehicles. As the automotive industry undergoes a major shift towards cleaner and more sustainable transportation solutions, electric cooling valves play a critical role in managing the thermodynamics of electric vehicle systems. However, the bus and coach sector is projected to exhibit the highest CAGR of 9.56% from 2023 to 2032 due to the increasing adoption of electric and hybrid propulsion systems in public transport. Masu. Electric buses and long-distance buses are gaining traction as cities and regions around the world prioritize sustainable and environmentally friendly transportation solutions.
12V segment maintains leadership position throughout the forecast period
Based on voltage, the 12V segment held the highest market share in 2020 and is estimated to maintain its leadership position throughout the forecast period 2023-2032 due to reliable and energy-efficient solutions. Requirements consistent with the industry's focus on sustainability and specific to modern automotive applications. However, the 24V segment will expand in 2023, as higher voltages ensure efficient and rapid control of coolant flow, meeting the demands of advanced automotive systems and contributing to overall vehicle performance and sustainability. It is projected to exhibit the highest CAGR of 9.22% from to 2032.
North America will maintain its dominance by 2032
By region, North America highest market share We expect to maintain our leadership position throughout the forecast period 2023-2032 with reliable and energy-efficient solutions that align with the industry's focus on sustainability and meet the specific requirements of modern automotive applications. Estimated. However, LAMEA is projected to exhibit the highest CAGR of 10.16% from 2023 to 2032. This is because the automotive industry in these regions is undergoing modernization and technology upgrades, increasing the demand for efficient thermal management systems in which electric cooling valves play a key role. It is on the rise and promotes market expansion.
Key highlights of the Automotive Electric Cooling Valve Market Research:
- The study covers 14 countries, provides regional and segment analysis, and forecasts amounts (in USD million) from 2020 to 2032.
- This approach combines top-level data, expert insights, and independent perspectives for a comprehensive view.
- Deepen your understanding of this dynamic market with over 3,700 documents, including product literature and annual reports. The goal is to enable stakeholders to make informed decisions towards ambitious growth targets.
Get the full research report (PDF with qualitative and quantitative data, insights, statistics, tables, charts, and figures) – https://www.alliedmarketresearch.com/automotive-electric-coolant-valve-market/purchase-options
Key market players: –
- Continental AG
- Emerson Electric Co. (Asco Valve Inc)
- Hanon Systems
- Honeywell International Co., Ltd.
- modine manufacturing company
- Parker Hannifin Co., Ltd.
- PV clean mobility technology
- Rheinmetall AG
- Robert Bosch GmbH
- robert shaw
- Rotex Automation Limited
- Schrader Bridgeport International, Inc.
- Siemens AG
- Thermal Management Solutions Group Co., Ltd.
- Vitesco Technologies GmbH
- VOSS Fluid GmbH
- Zhejiang Sanhua Automobile Co., Ltd.
This report offers a detailed analysis of these key players in the global Automotive Electric Cooling Valve market. These players are adopting various strategies such as new product launches, collaborations, expansions, joint ventures, and agreements to increase their market share and maintain a dominant share in different regions. . The report helps to introduce the competitive scenario by highlighting business performance, business segments, product portfolio, and strategic moves of market players.
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