Electric Coolant Pump Market Share & Size | Global Report 2028

The electric coolant pump market was valued US$ 467.46 million in 2022, it is estimated to grow at a CAGR of 16.8% from 2022 to 2028.

An electric coolant pump is one of the indispensable parts of the cooling system in an automobile. It is used to maintain the engine temperature, power train cooling, and other accessories, such as battery and power electronics cooling. Electric coolant pumps provide various technical benefits over mechanically driven pumps. They are highly efficient with emissions, less expensive, and compact, among other features. Thus, preference for electric coolant pumps is growing due to technical advantages to mitigate emission, bolstering the electric coolant pump market growth. Additionally, the increase in the production of vehicles and the rise in the demand for eco-friendly vehicles are also propelling the need for electric coolant pumps.

Technological advances in the automotive industry are constantly replacing mechanical components with electronic components as they are highly efficient and capable of handling higher complexities than conventional components. For instance, developments in the transmission system are leveraging the uptake of automatic transmission vehicles, and hydraulic power steering is being replaced with electric power steering. Also, conventional ICE is integrated and controlled with electronic components with the help of engine management systems. In addition to these developments, the growing awareness of reducing vehicle emissions is forcing vehicle manufacturers to implement new advancements in powertrain components. Thus, such factors are gaining momentum, driving the global electric coolant pump market.

The electric coolant pump market is highly fragmented, and vendors use growth strategies, including product portfolios, innovation, and strategic partnerships, to compete in the market. To develop business and recover from the COVID-19 pandemic impact, market vendors focus on fast-growing segments and maintain their positions in slow-growing segments.

Customize Research To Suit Your Requirement

We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.

Get 10% FREE CUSTOMIZATION

Electric Coolant Pump Market: Strategic Insights

Electric Coolant Pump Market

• 
  CAGR (2022 - 2028)

  16.8%
• Market Size 2022
  US$ 467.46 Million
• Market Size 2028
  US$ 1,188.28 Million

Market Dynamics

GROWTH DRIVERS

• XXXXXXX
• XXXXXXX
• XXXXXXX

FUTURE TRENDS

• XXXXXXX
• XXXXXXX
• XXXXXXX

OPPORTUNITIES

• XXXXXXX
• XXXXXXX
• XXXXXXX

Key Players

• AISIN SEIKI Co Ltd
• Continental AG
• Hanon Systems
• Hitachi Automotive Systems LTD
• Johnson Electric Holdings Limited
• Mahle GmbH
• Rheinmetall Automotive AG
• Robert Bosch GmbH
• GMB CORPORATION

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Application

• Engine Cooling & HVAC
• Battery & Power Electronics Cooling
• Gearbox Cooling

Power

• Below 100 W and Above 100 W

Vehicle Type

• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles

Propulsion Type

• ICE
• Electric
• Hybrid

Download Free Sample

   Buy Now   

• Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Impact of COVID-19 Pandemic on Electric Coolant Pump Market Growth

The COVID-19 outbreak drastically impacted the global economy during its peak in 2020 in its initial days. The crisis hampered business activities in IT and other industries. Small and medium-scale companies are the backbone of advanced technology providers, which witnessed a steep drop in revenue since the outbreak in 2020. It affected the value chain analysis and financially impacted certain companies. Before the COVID-19 outbreak, the electric coolant pump market was experiencing substantial growth, owing to the increase in disposable income and a rise in the sale of automotive vehicles. Further, there were significant investment initiatives in the development of electric vehicles, which helped strengthen the demand for electric coolant pumps. However, the onset of the COVID-19 pandemic slowed down the investment and production units, hampering the business dynamics of the electric coolant pump market. The COVID-19 pandemic negatively influenced the electric coolant pump market, owing to disruption in the supply chain, the shutdown of production units, and declining demand from end users. During the initial days of the pandemic, all business deals, collaborations, and partnerships were significantly restricted. The emergence of the pandemic hampered the sales of vehicles in February 2020; furthermore, the sales dropped by 47% in the US and 80% in Europe by April. As per a report by Statista, global car sales dropped to 63.8 million in 2020 and registered a slow recovery in 2021 with 66 million sales.

Market Insights – Electric Coolant Pump Market

Advantages of Electric Coolant Pumps Over Mechanical Pumps

The electric coolant pump consumes a small amount of energy to perform the cooling function. It takes the 12V output from the car battery and supplies coolant to the engine of the vehicle. Also, there is no energy loss while using the electric coolant pump. The constant electric power results in an uninterruptible supply of coolant to the engine. However, the mechanical pump extracts energy from the crankshaft, which is then transferred to the belt and pulley system and finally to the pump. Hence, the true power from the crankshaft is never fully transferred to the coolant pump. Moreover, the mechanical coolant pump has several moving parts, which results in friction and the production of heat inside the engine bay. On the other hand, the electric pump has fewer moving parts and are compact in size, saving space and reducing friction. Thus, the aforementioned advantages of the electric coolant pumps over the mechanical pumps are aiding the market growth.

Application-Based Market Insights

Based on application, the electric coolant pump market is segmented into engine cooling and HVAC, battery and power electronics cooling, and gearbox cooling. The engine cooling and HVAC segment accounted for the largest share of the electric coolant pump market in 2021, owing to the increased usage of electric coolant pumps for cooling the engine and HVAC components. Moreover, the battery and power electronics cooling segment is projected to grow rapidly during the forecast period. The continuity in operation leads to an increase in heat generation in the battery and power electronics systems that augments the demand for electric coolant pumps for cooling applications.

Power-Based Market Insights

Based on power, the electric coolant pump market is segmented into below 100 W and above 100 W. The below 100 W segment accounted for a larger share of the electric coolant pump market in 2021, owing to an increase in demand for auxiliary cooling purposes. Moreover, the above 100 W segment is projected to grow at a faster pace during the forecast period owing to increasing deployment in electric vehicles, which drives the segment growth.

Vehicle Type-Based Market Insights

In terms of vehicle type, the global electric coolant pump market is segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles. The passenger cars segment accounted for the largest share of the electric coolant pump market in 2021, owing to an increase in the availability of several electric models. Moreover, the heavy commercial vehicles segment is projected to grow at the fastest pace during the forecast period, owing to the rise in the sale of heavy commercial vehicles.

Propulsion Type-Based Market Insights

Based on propulsion type, the electric coolant pump market is segmented into ICE, electric, and hybrid segment. The ICE segment accounted for the largest share of the electric coolant pump market in 2021. The segment's growth is primarily attributed to the growing adoption of electric coolant pumps in ICE vehicles, owing to the increasing electrification of ICE-powered vehicles and rising sales of plug-in electric vehicles. Moreover, the electric segment is projected to grow at the fastest pace during the forecast period, owing to the increasing shift in adopting electric vehicles.

Pump Type-Based Market Insights

Based on pump type, the electric coolant pump market is segmented into with ECU and without ECU. The without ECU segment accounted for a larger share of the electric coolant pump market in 2021. The growth of the without ECU segment is primarily attributed to the increase in the sale of low-medium priced vehicles having budget constraints. In contrast, the ECU incurs a higher cost which makes it a budget constraint for most of the buyers. However, the with ECU segment is projected to grow at a faster pace during the forecast period, owing to increasing demand for vehicles with ECU.

Electric Coolant Pump Market Report Scope

Download Free Sample

   Buy Now   

• Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Players operating in the electric coolant pump market are mainly focused on developing advanced and efficient products.

• In May 2022, Hanon Systems a provider of thermal and energy management solutions for the automotive industry announced the opening of a new plant in Hubei, China. According to Min Sung president and chief executive officer of Hanon Systems the company continues to build its global business by investing in the design of cutting-edge eco-friendly automotive solutions and assisting manufacturers in the electrified vehicle category.
• In January 2021, MAHLE Aftermarket planned to increase its sales by 18.5% (approximately EUR 1.1 billion). MAHLE Aftermarket expanded and included a range of solutions that allows independent workshops to perform diagnostics and maintenance for e-vehicle batteries. In order to ensure its capacity to deliver despite the current tensions in the global supply chain, the business unit realigned its logistics structures and set an unwavering course for digitization. For example, the introduction of fully automated logistics hubs in the future will ensure rapid and error-free delivery.

Companies Profiled:

• Aisin Seiki Co. Ltd.
• Continental Ag
• Gmb Corporation
• Hanon Systems
• Hitachi Automotive Systems, Ltd.
• Johnson Electric Holdings Limited
• Mahle Gmbh
• Rheinmetall Automotive Ag
• Robert Bosch Gmbh
• Vovyo Technology Co., Ltd