The North America Automotive Electric Coolant Valve Market would witness market growth of 7.9% CAGR during the forecast period (2024-2031). In the year 2020, the North America market's volume surged to 10,086.2 thousand units, showcasing a growth of 19.8% (2020-2023).
The automotive electric coolant valve market, particularly for 12V applications, has witnessed significant growth due to the increasing demand for fuel efficiency and stringent emissions regulations. These 12V valves, integral to a vehicle's cooling system, play a crucial role in managing the engine's temperature, thus ensuring optimal performance and longevity. Thus, the US market would utilize 16,085.8 thousand units of 12V valves in automotive electric coolant by 2031.
The US market dominated the North America Automotive Electric Coolant Valve Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1,885 million by 2031. The Canada market is experiencing a CAGR of 10% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 9.4% during (2024 - 2031).
Automotive electric cooling valves are hardware utilized in various vehicle components. They are specifically used to optimize coolant flow through cooling systems, engines, and powertrains. These helps regulate a vehicle's temperature and improve its performance. Electric and hybrid vehicles also use these values for coolant flow distribution for batteries and power electronics. Electric coolant valves regulate the flow of coolant through the engine's cooling system to maintain optimal operating temperatures. They help prevent overheating and ensure efficient engine performance, particularly when precise temperature control is required, such as during cold starts or heavy-load conditions.
Turbocharged engines produce a substantial quantity of heat, particularly at high rates of speed. Electric coolant valves regulate coolant flow to the turbocharger's cooling circuit, helping to manage temperatures and prevent overheating of the components. Automatic transmissions generate heat during operation, deleting fluid quality and affecting transmission performance. Electric coolant valves control the flow of coolant through transmission coolers, helping to dissipate heat and maintain the transmission within its optimal temperature range, thereby improving longevity and performance.
Canadian manufacturers invest in advanced technologies to enhance productivity, efficiency, and competitiveness. Canada boasts a highly skilled workforce and research institutions with automotive engineering, materials science, and thermal management technologies expertise. Canada has a strong automotive manufacturing ecosystem with established OEMs, tiered suppliers, and support industries. In November 2023, Canadian manufacturing sales increased by 1.2% to $71.7 billion, as reported by Statistics Canada. Hence, the factors mentioned above will drive the regional market growth.
Free Valuable Insights: The Automotive Electric Coolant Valve Market is Predict to reach USD 9.3 billion by 2031, at a CAGR of 8.3%
Based on Voltage, the market is segmented into 12 V and 24 V. Based on Type, the market is segmented into Two Way, Three Way, Four Way, Five Way and Others. Based on Modulation Type, the market is segmented into Pre-configured and Field-configurable. Based on Vehicle Type, the market is segmented into Passenger Vehicle, Light Duty Vehicle, Buses & Coaches, Medium & Heavy Duty Trucks, and Off Highway Vehicles. Based on Communication Protocol, the market is segmented into Controller Area Network (CAN), LIN (Local Interconnect Network), Analog with Voltage Feedback and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Voltage (Volume, Thousand Units, USD Billion, 2020-2031)
By Type (Volume, Thousand Units, USD Billion, 2020-2031)
By Modulation Type
By Vehicle Type (Volume, Thousand Units, USD Billion, 2020-2031)
By Communication Protocol
By Country (Volume, Thousand Units, USD Billion, 2020-2031)
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