Electric Coolant Pump Market Size, Competitive Analysis, Industry Share, Growth Factors, Global Research and Forecast to 2031 | Aisin Seiki (Japan), Rheinmetall (Germany)

Electric coolant pumps are used in electric vehicles to circulate coolant for efficient thermal management of batteries and electric powertrain components. They are more efficient than engine-driven coolant pumps as they can precisely control coolant flow as per temperature requirements.

Market Dynamics:

Rising adoption of electric vehicles is expected to be a key growth driver for the electric coolant pump market during the forecast period. With stringent emissions norms and government incentives and mandates promoting electric mobility, global EV sales are projected to have a strong growth trajectory over the next decade. Additionally, longer driving ranges and improved battery technology are making EVs more viable for daily commutes, thus boosting EV adoption. Furthermore, rapid development of EV charging infrastructure is increasing consumer confidence in electric vehicles. These factors are expected to increase demand for electric coolant pumps used in batteries and other EV components.

The global Electric Coolant Pump market size was valued at US$ 5.18 billion in 2023 and is expected to reach US$ 22.44 billion by 2030, grow at a compound annual growth rate (CAGR) of 23.3% from 2023 to 2030.

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Electric Coolant Pump Market Drivers and Factors

Increasing Adoption of Electric Vehicles is Driving the Growth of Electric Coolant Pump Market

With strict regulations on emission levels from vehicles across the globe, the demand and adoption of electric vehicles such as hybrid and battery electric vehicles is increasing rapidly. Electric vehicles require efficient thermal management systems to maintain optimal temperatures for batteries and other components. Electric coolant pumps are increasingly being used in electric vehicles for cooling purposes as they provide various benefits over mechanical pumps such as better control and improved efficiency. Thus, the rising sales of electric vehicles is a major driver boosting the electric coolant pump market.

miniaturization of Automotive Components is Fueling Market Growth

Continuous technological advancements have led to the miniaturization of various automotive components including electric coolant pumps making them more compact and lightweight. Miniaturized electric coolant pumps require less installation space and help in weight reduction of the vehicle. This allows automakers to free up more space for additional components. The miniaturization trend in the automotive industry has increased the acceptance of electric coolant pumps among OEMs and is anticipated to drive their demand over the forecast period.

Major Key Players:

Aisin Seiki (Japan), Rheinmetall (Germany), Hanon Systems (South Korea), MAHLE (Germany), BorgWarner (US), Robert Bosch (Germany), GMB (Japan), DaviesCraig (Australia), Torishima Pump (Japan), Modine (US)

Detailed Segmentation:

Electric Coolant Pump Market, By Type
Full-size
Mid-size
Compact-size
Mini-size
Others
Electric Coolant Pump Market, By Vehicle Type
Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles
Electric Vehicles
Others
Electric Coolant Pump Market, By Application
Engine Cooling
Battery Cooling
Turbocharger Cooling
Others
Electric Coolant Pump Market, By Propulsion Type
BEVs
PHEVs
HEVs
ICE Vehicles
FCEVs

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Electric Coolant Pump Market Restrain

High Cost of Electric Coolant Pumps Compared to Mechanical Pumps Hinders Market Growth

Electric coolant pumps are generally more expensive than conventional mechanical coolant pumps owing to the addition of electrical components like electric motors, power electronics, and sensors. The manufacturing of small and compact electric pumps with high-power density also increases their production costs. This high initial cost makes it difficult for automakers, especially those manufacturing budget-friendly vehicles, to adopt electric coolant pumps on a large scale. The higher cost as compared to mechanical pumps is a major barrier restraining the electric coolant pump market.

Electric Coolant Pump Market Opportunity

Growing Demand for Enhanced Thermal Management in ICE Vehicles Presents Opportunities

While battery electric vehicles and hybrids majorly use electric coolant pumps, their demand is also growing in conventional internal combustion engine (ICE) vehicles. Sophisticated ICE powertrains with technologies like turbocharging and downsizing require efficient thermal management to maintain optimal engine temperatures. Electric coolant pumps offer benefits of variable speed control and improved cooling capabilities over mechanical pumps traditionally used in ICE vehicles. They can precisely control coolant flow as per temperature conditions. This growing need for enhanced thermal management systems in advanced ICE vehicles presents lucrative opportunities for electric coolant pump manufacturers.

Electric Coolant Pump Market Trend

Adoption of 48V Mild-Hybrid Technology is a Key Emerging Trend

With tightening emissions regulations, automakers are increasingly adopting 48V mild-hybrid technology to reduce vehicle emissions and improve fuel efficiency. These mild-hybrid vehicles have a 48V main electrical system along with features like start-stop, brake energy recuperation, and thermal management. Electric coolant pumps are well-suited for the 48V architecture as their voltages align. They allow for optimized coolant flow control and efficient thermal management in 48V mild-hybrid powertrains. The rising popularity of 48V systems among automakers is a notable trend that will drive the demand for 48V compatible electric coolant pumps in the coming years.

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𝗙𝗔𝗤'𝗦:

What is the projected size of the Electric Coolant Pump Market by 2031?
Which major countries will experience the greatest impact from the Electric Coolant Pump Market?
Which regional market in the Electric Coolant Pump Market is the largest?
Which leading companies dominate the majority of the Electric Coolant Pump Market?
Which geographic market within the Electric Coolant Pump Market industry is expected to exhibit the most significant growth potential?
What are the primary drivers of the Electric Coolant Pump Market?
What are the current trends and future predictions for the global Electric Coolant Pump Market industry?
What are the key strategies employed in the Electric Coolant Pump Market?
What are the main growth prospects for the Electric Coolant Pump Market?

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