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Growing Demand For Electric Cars Fueling The Electric Coolant Pump Market Growth: The Driving Engine Behind Electric Coolant Pump Market Evolution in 2025
Electric Coolant Pump
Electric Coolant Pump Market Size Growth Forecast: What to Expect by 2025?
In recent years, there has been a substantial expansion in the electric coolant pump market. The market size, which stands at $3.06 billion in 2024, is predicted to increase to $3.5 billion in 2025, reflecting a compound annual growth rate (CAGR) of 14.4%. The growth during the historic period is due to the transition to electric powertrains, rising automotive production, increasing emphasis on thermal management, strict emission rules, and growing demand for fuel-efficient vehicles.
How Will the Electric Coolant Pump Market Size Evolve and Grow by 2029?
The market for electric coolant pumps is predicted to experience substantial expansion in the upcoming years, with projections indicating it will reach $5.91 billion by 2029, reflecting a compound annual growth rate (CAGR) of 14.0%. The anticipated increase during the forecast period is linked to the rising popularity of direct liquid cooling systems, their greater presence in internal combustion engine (ICE) vehicles, customization for unique vehicle needs, the incorporation of renewable energy, and a growing need for highly efficient cooling solutions. The forecasting period is also set to witness key trends including the creation of compact, lightweight options, improved pump efficiency, blended smart thermal management systems, substantial financial investment in research and development, and rapid progress in the automotive sector.
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What Drivers Are Propelling the Growth of Electric Coolant Pump Market Forward?
The electric coolant pump market is projected to grow due to the escalating demand for electric vehicles. Electric cars, which run on electricity stored in rechargeable batteries and employ electric motors, provide a more sustainable and eco-friendly solution than traditional gas-powered vehicles. The surge in EV cars can be attributed to growing environmental consciousness and strict emissions standards. Electric coolant pumps in EVs play a key role in controlling component heat by circulating coolant, thereby facilitating the effective functioning and durability of crucial systems like batteries and electric motors. For example, the International Energy Agency (IEA) reported in 2023 that around 14 million new electric vehicles were registered worldwide, bringing the total to 40 million and following the sales projection for 2023 closely. The sales of electric vehicles in 2023 surpassed those of 2022 by 3.5 million, marking a 35% increase year on year. Consequently, the escalating demand for electric vehicles is bolstering the expansion of the electric coolant pump market.
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Which Emerging Trends Are Transforming the Electric Coolant Pump Market in 2025?
Key players in the electric coolant pump market, like Robert Bosch GmbH, are expanding their product range for aftermarket use in an effort to supply more effective and long-lasting solutions and fulfill the increasing requirements for vehicle upkeep and enhancement. Aftermarket electric coolant pumps are components that can be added or replaced in vehicles after the initial purchase. As an example, in October 2022, this Germany-based engineering firm broadened its electric coolant pump selection for the aftermarket sector. The incorporation of new electric coolant pump models to Bosch's aftermarket selection reflects their dedication to remain ahead in the auto technology advancements. By broadening their range of electric coolant pumps, Bosch is responding to the increasing aftermarket demand for these parts, allowing repair shops and service centers to keep up with and repair vehicles equipped with the most recent cooling system technologies.
What Are the Key Segments in the Electric Coolant Pump Market?
The electric coolant pump market covered in this report is segmented -
1) By Type: Sealed, Seal less
2) By Vehicle Type: Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV)
3) By Power Output: Up To 100W, Greater Than100W
4) By Application: Passenger Car Cooling, Cooling Of Accessories, Air Conditioning, Gearbox Cooling, Other Applications
5) By Sales Channel: Original Equipment Manufacturer, Aftermarket
Subsegments:
1) By Sealed: Single Seal Electric Coolant Pumps, Double Seal Electric Coolant Pumps
2) By Seal-Less: Magnetic Drive Electric Coolant Pumps, Non-Contact Seal-Less Electric Coolant Pumps
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Who Are the Key Players Shaping the Electric Coolant Pump Market's Competitive Landscape?
Major companies operating in the electric coolant pump market are Hyundai Corporation, Robert Bosch GmbH, Denso Corporation, ZF Friedrichshafen AG, Continental AG, Magna International Inc., Aisin Corporation, Valeo S.A., MAHLE GmbH, BorgWarner Inc., HELLA GmbH & Co. KGaA, Eberspächer Gruppe GmbH & Co. KG, Rheinmetall Automotive AG, Hanon Systems, Johnson Electric, Gates Corporation, Standard Motor Products Inc., TYC Brother Industrial Co. Ltd., Vernet Group, Saleri Silvio S.p.A., Grayson Thermal Systems, Stant Corporation, Rotex Automation Limited, Delphi Technologies, Davies Craig Pty Ltd.
What Geographic Markets Are Powering Growth in the Electric Coolant Pump Market?
Asia-Pacific was the largest region in the electric coolant pump market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the electric coolant pump market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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