Electric coolant pumps are increasingly finding applications in electric vehicle drivetrains to regulate the temperature of high voltage batteries and power electronics. Advances in electric vehicle technology have boosted the adoption of electric coolant pumps that offer silent operation, precise temperature control and higher efficiency compared to engine-driven cooling systems.
The global Electric Coolant Pump Market is estimated to be valued at US$ 5.18 Bn in 2023 and is expected to exhibit a CAGR of 23% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
The electric coolant pump market manufactures electric pumping assemblies that circulate coolant or antifreeze through an internal combustion engine or electric vehicle powertrain to regulate operating temperature. Electric coolant pumps help maintain optimum temperature for efficient performance of critical vehicle components.
Market key trends:
One of the key trends in the electric coolant pump market is the increasing demand from hybrid and electric vehicles. As EVs do not have engine-driven cooling systems, electric coolant pumps play a crucial role in battery thermal management and regulating temperatures of electric motors, power converters, and on-board chargers. Leading automakers are focusing on developing advanced thermal management solutions using electric coolant pumps to improve the efficiency and reliability of electric drivetrains. Several OEMs have also introduced scalable and customizable pumping modules with integrated control units and sensors to meet the thermal demands of diverse EV platforms.
Segment Analysis
The electric coolant pump market is segmented based on type, vehicle type, distribution channel, and geography. Considering type, the centrifugal pumps segment dominated the market in 2022. Centrifugal pumps are easy to maintain and reliable to transport coolant in various vehicle types. The growing demand for improved combustion engine efficiency is expected to drive the centrifugal pumps segment during the forecast period.
Key Takeaways
The global Electric Coolant Pump Market Growth is expected to witness high growth, exhibiting a CAGR of 23.% over the forecast period, due to increasing demand for fuel-efficient vehicles.
Regional Analysis - Asia Pacific dominated the global market in 2022 and is expected to exhibit the fastest growth over the forecast period. The high production and sales of passenger and commercial vehicles in countries such as China, Japan, and India are driving the electric coolant pump market in Asia Pacific.
Key players analysis - Key players operating in the electric coolant pump market are Aisin Seiki (Japan), Rheinmetall (Germany), Hanon Systems (South Korea), MAHLE (Germany), BorgWarner (US), Robert Bosch (Germany), GMB (Japan), DaviesCraig (Australia), Torishima Pump (Japan), and Modine (US). The major players focus on new product launches and expansion strategies to gain a competitive advantage in the market. For instance, in 2022, Aisin Seiki expanded its electric coolant pump production facility in China.
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According to the new market research report "Electric Coolant Pump Market by Type (Sealed, Sealless), Sealless (Electrical, Magnetic), Power Output (100W), Vehicle Type (PV, 48V, CV, BEV, PHEV), Communication Interface (LIN, CAN, PWM), Application and Region - Global Forecast to 2027", Published by MarketsandMarkets™, The global Electric Coolant Pump Market size for electric vehicles is projected to reach USD 662 million by 2027 from an estimated USD 227 million in 2020 at a CAGR of 16.5% during the forecast period.The growth of Electric Coolant Pump Market size is influenced by factors such as stringency in emission norms, increasing sales of electric vehicles, and turbocharged engines.
Therefore, the Electric Coolant Pump Market is expected to witness significant growth in the future.Browse in-depth TOC on "Electric Coolant Pump Market"133 – Tables62 – Figures199 – PagesDownload PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=107390652 48V is expected to be the largest market in the vehicle voltage segmentAccording to MarketsandMarkets analysis, the 48V Electric Coolant Pump Market is estimated to be the largest during the forecast period.
The growing demand for electrified buses and trucks is boosting the demand for electric coolant pumps globally.
The growing popularity of BEVs and hybrid turbocharged engines is expected to give China a considerable boost in the Electric Coolant Pump Market.
is expected to create favorable opportunities for the Electric Coolant Pump Market.The Electric Coolant Pump Market is dominated by globally established players such as Rheinmetall Automotive AG (Germany), Robert Bosch GmbH (Germany), Aisin Seiki Co., Ltd. (Japan), Continental AG (Germany), and MAHLE GmbH (Germany).Browse Related Reports:Automotive Pumps Market by Type (Fuel Pump, Water Pump, Vacuum Pump, Fuel Injection Pump, Steering Pump, & Headlight Washer Pump), Technology, Displacement, Vehicle Type (PC, LCV, HCV), EV (BEV, HEV, PHEV, FCEV), Region - Global Forecast to 2027Vehicle Electrification Market by Product (Start-Stop, PTC, EPS, Electric Air Conditioner, ISG, Starter Motor, Alternator, Actuator, Electric Pump-Vacuum, Oil & Water), 48V, ICE, BEV, HEV, PHEV, Vehicle Type, and Region - Global Forecast to 2027About MarketsandMarkets™MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.
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