Global Coolant Pumps Market – Introduction
- Coolant pump is used to re-circulate coolant, which is normally liquid. This re-circulation helps remove heat from any device or engine that generates heat.
- Coolant pumps are installed in pressurized water reactors, a type of light water reactors used in nuclear power plants
- Coolant pumps are used in nuclear power plants or station for cooling reactors. Beside it, coolant pump is a type of water pump, which is used in internal combustion engine applications i.e. fossil fuel powered vehicles.
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Global Coolant Pumps Market – Dynamics
Key Drivers of Coolant Pumps Market
- Rise in demand for coolant pumps in the automotive industry has led to replacement of mechanical components with electronic components. Electrical components are more capable and efficient in handlings complexities than mechanical components. Furthermore, coolant pumps are used to develop efficient automotive systems to improve heat transfer in vehicles. This, in turn, is driving the coolant pumps market.
- Continuously growing demand for electricity across the globe as a result of rise in power consumption is likely to drive the global coolant pumps market in the near future. This increase in electricity demand is expected to propel the coolant pumps market, as these pumps are used in nuclear power stations or plants to cool reactors used to generate electricity.
- Moreover, dynamic industrial development across the world is expected to boost the coolant pumps market.
Asia Pacific to Hold Significant Market Share followed by North America
- Rise in the number of nuclear power plants in Asia Pacific and North America, and increase in demand for electricity are factors driving the global coolant pumps market. Additionally, China and the U.S. are major consumers of coolant pumps, in terms of nuclear power plants. However, governments of these countries are formulating policies to ensure that energy-efficient equipment, such as coolant pumps, are installed in nuclear power plants.
- Policies and regulations relating to lower carbon dioxide emissions are expected to boost the demand for coolant pumps
- Manufacturers based in North America are focusing on developing innovative coolant pumps with improved features to conserve energy and can be used in nuclear power stations or plants
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Global Coolant Pumps Market – Competition Landscape
The global coolant pumps market is highly concentrated, with major manufacturers accounting for approximately 35% to 40% market share in 2018. Key players operating in the global coolant pumps market are:
- Westinghouse Electric Company LLC.
- Sogefi SpA
- Brinkmann Pumps, Inc.
- Eaton Corporation Inc.
- Nidec Corporation
- KSB Aktiengesellschaft
- PumpBiz, Inc.
- The Gorman-Rupp Company
- Barber-Nichols Inc.
- Fuji Electric Co., Ltd.
For instance, in June 2018, Sogefi SpA, signed an agreement with Volvo Cars in China to supply engine coolant pumps for its hybrid models XC40, XC90, S60, S90, and V60. Moreover, the new contract will bring € 10 million (US$ 11.15) annual sales to the company.
Global Coolant Pumps Market – Research Scope
The global coolant pumps market can be segmented based on:
- Business Type
Global Coolant Pumps Market, by Type
Based on type, the global coolant pumps market can be divided into:
- Pressurized Water Pump
- Centrifugal Pump
- screw spindle Pump
- End-suction Pump
- Suction Pump
- Miniature Pump
- Immersion Pumps
- Reactor Coolant Pump
- Electric Coolant Pump
Global Coolant Pumps Market, by Application
In terms of application, the global coolant pumps market can be classified into:
- Generating Electricity
- Propelling Aircraft Carriers
- Propelling Nuclear Submarines
- Passenger Car Cooling
- Cooling of Accessories
- Air Conditioning
- Gearbox Cooling
Global Coolant Pumps Market, by Power
In terms of power, the global coolant pumps market can be segregated into:
- 50 to 100 Watt
- 100 to 200 Watt
- 200 to 400 Watt
Global Coolant Pumps Market, by Business Type
Based on business type, the global coolant pumps market can be divided into:
Global Coolant Pumps Market, by Size
In terms of size, the global coolant pumps market can be segregated into:
- Full-size Coolant Pumps
- Mid-size Coolant Pumps
- Compact-size Coolant Pumps
Global Coolant Pumps Market, by Industry
Based on industry, the global coolant pumps market can be divided into:
- Nuclear Power Plants
Global Coolant Pumps Market, by Region
In terms of region, the global coolant pumps market can be categorized into:
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
The report incorporates in-depth assessment of product development, financial analysis, product market sizing, competition landscape, product benchmarking, market trends, and strategic analysis to estimate potential opportunities and impact forces of the global coolant pumps market. The report also includes a study of qualitative and quantitative research of major developments in the market, such as mergers & acquisitions, product launches, agreements, and collaborations, to recognize the prevailing market dynamics and their estimated impact during the forecast period.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.