Electric Coolant Pump Market

SKU: DMEP2651 | Last Updated On: Oct 13 2022 | Available Formats

>Electric Coolant Pump Market Expected to reach a high CAGR 16.7% during the forecast period 2022-2029:

Electric Coolant Pump Market is segmented By Type (Magnetically Driven, Electrically Driven/Canned), By Seal Type (Sealed Coolant Pumps (Seal Face Material (Carbon Sealed Material, Ceramic Sealed Material)), Sealless Coolant Pumps (Bearings Material (Engineered Plastics, Powdered Metal, Carbon Bearings), Shaft Materials (Metal, Ceramics))), By Power (Less than 100W, More than 100W), By Communication Interface (LIN, CAN, PWM), By Application (Engine and HVAC, Battery & Power Electronics, Gearbox Cooling, Others), By End-User (Electric Vehicle (Electric Vehicle Type (Battery Electric Vehicles (BEVS), Plug-In Hybrid Electric Vehicles (PHEVS)), Electric Vehicle Usage (Passenger Car, Commercial)), Ice Vehicle (Ice Vehicle Type (Passenger Car, Commercial), Ice Vehicle Voltage (12V, 48V)), Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

Electric Coolant Pump is estimated to reach at a CAGR of 16.7% during the forecast period (2022-2029).

An electric coolant pump is an electronically connected centrifugal pump used for a wide range of electric vehicle applications. The pump is designed to optimize noise emission characterized by its high efficiency, compact design and low weight. Electric pump's sturdy design enables can be mounted at combustion engine, hybrid and battery-operated electric vehicles.

Electric Coolant Pump Market

Metrics

Details

Market CAGR

16.7%

Segments Covered

By Pet Type, By Seal Type, By Power, By Communication Interface, By Application, By End-User, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

Various energy-efficient materials are being used for manufacturing electric coolant pumps. For instance, electric coolant pumps are designed to control the vehicles' noise, which provides better reliability and performance standards hence used for various applications like automotive, aerospace, HVAC technology systems, electronics cooling systems etc.

The electric coolant pumps provide long-term protection against corrosion under insulation (CUI). Their properties like high energy efficiency minimize energy losses, highly flexible and can be installed quickly in tight spaces. Electric coolant pump is substantially used in end-user industries such as hybrid vehicles, HVAC systems and electric vehicles.

Electric Coolant Pump Market Dynamics:

The global electric coolant pump is driven by rising sale of electric vehicles globally due to growing government schemes and subsidies and stringent rules and regulations regarding the emission from the vehicles by government of several countries. Electric coolant pump provides higher efficiency than the mechanical and facilitates reduction of power consumption by optimizing coolant flow control.

Rising demand for electric vehicles with the surge in government schemes and subsidies around the globe

The electric coolant pump plays a vital role in electric, internal combustion, and hybrid vehicles to optimize the coolant flow to enable optimum thermal management of these vehicles. Increasing sales of electric and hybrid vehicles with government support and initiatives and rising consumer awareness towards emission control have propelled the electric coolant market.

For instance, in 2019, according to International Energy Agency, the global electric car fleet sale exceeded 5.1 million units, increasing at the rate of 2 million per year, where car sales almost doubled for new electric cars sold. It created massive demand for the electric coolant pumps requires in the manufacturing of the EVs.

Growing passenger and commercial vehicles production impels the global electric coolant pumps market

Electric coolant pumps are widely used to manufacture commercial and passenger vehicles for thermal management in the vehicles. As per the car group organization, global vehicle production, including passenger and commercial vehicles, reached around 94.5 million, which ultimately impels the demand for the electric coolant pumps market used in manufacturing these vehicles.

The launch of the new advanced technology pumps by the leading players may create a massive opportunity for the growth of this market

Several leading players are launching advanced technology-based electric coolant pumps due to growing electrification in vehicles. Increasing demand for automation may create massive opportunities for the growth of the global electric coolant pump market. Further increasing orders from the leading manufacturers of the automotive-related to the electric coolant pumps may create massive opportunity for the electric coolant pumps market's growth. For instance, on 30th October 2018, Rheinmetall Automotive has received major order from an international automaker to supply Coolant Water Aggregate (CWA) electrically powered pump representing a volume totaling US$ 250 million.

COVID-19 Impact Analysis

The global electric coolant pump market has shown slight declination due to the Covid-19pandemic, as several leading manufacturing industries were closed. Several countries have restricted production activities during the covid-19 pandemic. Further, growth of the electric and hybrid vehicles also declined due to low demand in June 2020.

However, the electric coolant pump demand is slightly increased in August 2020, as several leading manufacturers started production. The leading manufacturers of the electrical coating insulation have planned the investment for enhancing the production of the automotive and HVAC equipment due to growing demand in the month of Jule 2020. For instance, on 20th Oct 2020, GM planned investments for expanding the electric vehicle production for a factory in Mexico. Further demand for electric coolant pumps will increase as soon as pandemic is over.

Electric Coolant Pump Market Segment Analysis:

The global electric coolant pump is segmented based on type, seal type, power, communication interface, application, end-user and region.

Rising demand in the automotive sector with the surge in the global sale of passenger vehicles have propelled the electrically driven segmental growth of this market

The global electric coolant pump is bifurcated into magnetically driven and electrically driven/canned in terms of type. Among these, electrically driven cars have the highest market share in 2019, owing to rising demand in passenger vehicles' manufacturing facilities. As per the International Organization of Motor Vehicle Manufacturers, the global passenger vehicles sale reached around 67.1 million units, which propels the electric coolant pump market to manufacture the automotive electric components and nearby engines.

Further increasing government support and initiatives to promote electric vehicles sale and production have propelled the electric coolant pump market over the study period. For instance, on 23rd November 2020, Indian Government has planned to set up at least one electric vehicle charging kiosk at around 69,000 petrol pumps across the country to promote the electric vehicles' sale, which ultimately propels the electric coolant pump market.

As per the International Energy Agency in 2019, around 2.1 million electric cars were being sold, representing 6% growth rate compared to the previous year. It propels the demand for the electrically driven type of electric coolant pump segment.

Further magnetically driven is also increasing demand as it is being used for heavy applications including for HVAC technology, heavy commercial vehicles, aerospace & defense industries etc.

The global electric coolant pump market is segmented into sealed coolant pumps and sealless coolant pumps by seal type. Further sealed coolant pumps are segmented into sealed faced material, which is further bifurcated into carbon sealed material and ceramic sealed material.

Also, seal-less coolant pumps are segmented into bearings materials, further segmented into engineered plastics, powdered metal, and carbon bearings. Again sealless coolant pumps are divided into shaft materials, which are then divided into metals and ceramics. Based on the power, the global electric coolant pump market is segmented into less than 100W and more than 100W.

In terms of the communication interface, the global electric coolant pump market is segmented into local interconnect network (LIN), controller area network (CAN) and pulse-width modulation (PWM).

Increasing sales of the automotive coupled with growing demand for the HVAC systems for a comfortable living have propelled the engine and HVAC application segmental growth

Further, based on application, the global electric coolant pump market is divided into engine and HVAC, battery & power electronics, gearbox cooling, etc. Among these, engine and HVAC segment has the highest prevalence due to increasing demand for comfortable living with a surge in air-conditioning sales and growing global vehicles sale globally.

For instance, as per Asher, the global Global HVAC and building automation control systems (BACS) market for commercial and residential air-conditioning reached around US$ 51.4 billion and US$ 62.4 billion in 2019. It propels the demand for the electric coolant pumps used in manufacturing the air-conditionings around the globe.

The rising sale of battery-operated electric vehicles have propelled the electric coolant market growth

Based on the end-user, the global electric coolant pump market is divided into electric vehicles, electric vehicle usage and ice vehicles. Further electric vehicles segment is divided into battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). Among these, the battery electric vehicles (BEVs) segment has the highest market share due to increasing demand, sale and production of this type of vehicle due to growing government support and schemes to promote the sale. As per the International Energy Agency in 2019, the global battery-operated electric vehicles sale reached around 4.79 million units, increasing faster due to growing people's awareness and government subsidy and schemes.

Further, the electric vehicle usage type is divided into passenger and commercial vehicles. Further ice vehicles are divided into ice vehicle type and ice vehicle voltage. The ice vehicle type is divided into passenger and commercial, whereas ice vehicle voltage is divided into 12V and 48V.

Electric Coolant Pump Market Geographical Analysis:

Asia-Pacific holds a largest market share in Global Electric Coolant Pump Market

By region, the global electric coolant pump market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East and Africa. Among all, Asia-Pacific is the dominant region for the global electric coolant pump market. It is expected to grow at the highest CAGR during the forecasted period due to increasing the electric coolant pump's manufacturing facilities in automotive, followed by the North America region.

Further, Asia-Pacific has the highest sale of electric vehicles registering major share in China, which propels the demand for electric coolant pumps throughout the forecast period. According to IEA, in 2019, China produces around 25% of electric two/three-wheelers globally, which is why this growth is the increasing government subsidiary and the stringent emission norms implemented to reduce emission.

North America is also growing at the fastest pace for the global electric cooling pump market due to advanced technology and increasing awareness about reducing greenhouse gases, followed by Europe. Further, the market in North America for Electric Coolant Pump is also influenced by government initiatives to support electric vehicles' sale, which promotes electric cooling pump market.

Electric Coolant Pump Market Competitive Landscape:

The global electric coolant pump market is highly competitive, with several international and local markets. Product diversification, revenue generation and opportunities intensify the market competition. Rheinmetall Automotive AG, Robert Bosch GmbH, AISIN SEIKI Co., Ltd., Continental AG, MAHLE GmbH, DENSO CORPORATION, Johnson Electric Holdings Limited, Hanon Systems, Industrie Saleri Italo S.p.A. and Concentric are the leading market players with significant market share.

Companies are entering into collaborations, acquisitions, mergers, and licensing for increasing their market penetration. For instance, on 20th Sep2018, Hanon Systems to acquired Global Fluid Pressure & Controls Business of Magna International Inc. for approximately US$1.23 billion. This acquisition has strengthened the company's offering to support electrified vehicles and enhances electronics engineering capability by accelerating the growth and diversify its customer base.

Continental AG:

Continental AG was established in 1871 and headquartered in Hanover, Germany.

Continental AG is a supplier of automobile components. The company segments include the automotive and rubber groups, which are further divided into various business verticals such as interior, power train, chassis & safety, electric components, electric coolant pumps, tires and services.

Product portfolio: Continental has added 23 new types of its range of standalone water pumps.

  • Water pumps: A water pump consists of an impeller with scoop vanes, a mechanical shaft seal made of carbon and silicon carbide and Integral bearing with roller and ball bearings. The water pump is the central element in the automobile's coolant circuit, ensuring that the engine is always adequately cooled. Continental also offers standalone water pumps for ancillary drives or with an electric drive

Key Developments:

  • On 20th September 2018, Continental AG began to start mass production of core products, including energy-efficient durable electric pumps, intelligent flow control valves, sensors, plus lines and hoses for the innovative market and for offering benefits for vehicles with or without combustion engines in China scheduled at the end of 2019 to meet local demand
  • Further, on 23rd August 2019, Continental planned to expand to produce speed sensors require in electric pump motors and vehicles at the Manesar plant to meet safety technology requirements in India

Frequently Asked Questions

What is the Projected CAGR value of the Electric Coolant Pump Market?

Electric Coolant Pump Market is expected to grow at a CAGR of 16.7% during the forecasting period 2022-2029.

Which region controlled the global market during 2022-2029?

North America region Controls the Electric Coolant Pump Market during 2022-2029

Which is the fastest growing region in the Electric Coolant Pump Market?

Among all regions, Asia Pacific is the fastest growing market share during the forecast period 

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