ELECTRIC COOLANT PUMP MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

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. Electric coolant pumps are used in internal combustion engines and electric vehicles to circulate engine coolant and maintain optimal temperature. Key advantages include higher efficiency, reduced emissions, and lower parasitic losses compared to mechanical pumps. Major drivers include stringent emission norms, electrification of vehicles, and advancements in pump technology.

The Electric Coolant Pump Market is segmented by type, vehicle type, application, propulsion type and region. By vehicle type, the passenger cars segment is expected to dominate the market owing to rising production of economy and mid-priced passenger vehicles globally.

Electric Coolant Pump Market Regional Insights

• North America is expected to be the largest market for Electric Coolant Pump Market during the forecast period, accounting for over 25% of the market share in 2022. The growth of the market in North America is attributed to high production of pickup trucks and SUVs along with increasing hybrid and electric vehicle sales.
• The Asia Pacific market is expected to be the second-largest market for Electric Coolant Pump Market, accounting for over 45% of the market share in 2022. The growth of the market in this region is attributed to rapid vehicle electrification and implementation of stringent emission standards in China, Japan and India.
• The Europe market is expected to be the fastest-growing market for Electric Coolant Pump Market, accounting for over 20% of the market share in 2022. The growth of the market in Europe is attributed to the rising adoption of mild hybrid and electric vehicles.

Figure 1. Global Electric Coolant Pump Market Share (%), by Region, 2023

Electric Coolant Pump Market Drivers:

• Stringent Emission Regulations: Government regulations to curb emissions are a major factor driving growth in the electric coolant pump market. With rising concerns over environmental pollution, regulations on emission control have become more stringent across developed and developing nations. For instance, the implementation of Euro 6d norms in Europe has compelled automakers to adopt advanced technologies including electric coolant pumps. Electric pumps offer higher efficiency and eliminate belt drive losses from engine accessory drive systems. Their adoption helps OEMs meet the tightening CO2 emission targets. The introduction of BS-VI norms in India has also accelerated the installation of electric pumps in vehicles. Thus, increasingly stringent emission control regulations are stimulating the adoption of these pumps.
• Increasing Production of Hybrid and Electric Vehicles: The rising trend of vehicle electrification provides significant opportunities to electric coolant pump manufacturers. These pumps find wide application in hybrid, plug-in hybrid and battery electric automobiles. They play a critical role in thermal management of HV batteries and power control units in electrified powertrains. According to International Energy Agency (IEA), the global electric car stock hit 10 million in 2020, a 43% increase over 2019. Moreover, hybrid electric vehicles accounted for over 5 million sales. The rapidly growing production of hybrid and electric cars and commercial vehicles will continue to propel the coolant pump market.
• Advancements in Pump Technology: OEMs are increasingly focused on improving the efficiency and performance of electric coolant pumps. Automotive suppliers are developing innovative pump designs integrated with advanced Brushless DC motors and intelligent control units. Unlike conventional pumps, brushless pumps enable variable speed operation resulting in reduced power consumption. Intelligent pumps can adjust the coolant flow rate based on driving conditions and cooling requirements. They can detect failures through integrated sensors and protect the engine. Such technological advancements are driving adoption among automakers.
• Growing Adoption in Combustion Engine Vehicles: Besides the electrification trend, electric pumps are also gaining steady adoption in traditional internal combustion engine vehicles. Eliminating accessory drive belts and pulleys helps reduce parasitic losses and improve fuel efficiency. Engine downsizing is another key factor that increases the cooling demand thereby driving the integration of electric pumps. As reducing CO2 emissions remain a key focus for automakers, demand for next-gen electric coolant pump will continue to grow through 2030.

Electric Coolant Pump Market Opportunities:

• Demand for Thermal Management in EVs: The demand for effective thermal management solutions in electric vehicles presents major growth opportunities for electric coolant pump suppliers. Maintaining optimal temperature of EV batteries is crucial to achieving driving range and ensuring safety. Coolant pumps enable precise control over cooling of battery packs and power electronics. Moreover, the adoption of fast-charging systems in EVs results in increased heat generation thereby driving the need for thermal management. Electric coolant pumps will play a vital role in temperature regulation of future EVs.
• Growth in 48V Mild Hybrid Vehicles: The rising adoption of 48V mild hybrid systems across passenger cars and LCVs is opening new avenues for electric coolant pump OEMs. Transitioning from 12V to 48V enables electrification of auxiliary systems including coolant pumps. It enhances fuel savings while reducing emissions. Nearly 25 million 48V mild hybrid vehicles are estimated to be sold globally by 2025. Key automakers such as Renault, BMW, Audi are launching mild hybrid models. The volume growth in this segment will present new opportunities for electric pump suppliers.
• Aftermarket Installations in Existing Vehicles: Retrofitment or aftermarket installation of electric pumps in vehicles currently running on mechanical pumps also provides growth opportunities. These replacements enhance vehicle fuel efficiency as well as the overall performance of the thermal management system. Aftermarket demand for electric coolant pumps exists in both commercial and passenger vehicle segments. Developing customized plug-and-play pumps for existing vehicles can help manufacturers expand their customer base.
• Growth Potential in Emerging Economies: High growth markets such as China, India, Brazil offer considerable potential for electric coolant pumps owing to increasing vehicle production and adoption of stricter emission norms. These countries are expected to drive the majority of growth in the automotive industry over the next decade. Localization of production facilities in these high-volume markets provide OEMs the opportunity to cater to growing aftermarket demand. Moreover, the transition towards electric mobility in the Asia Pacific region will further accelerate the demand for electric pumps.

Electric Coolant Pump Market Trends:

• Development of High Efficiency Pumps: Manufacturers are increasingly focusing on improving pump efficiency to ensure reduced power consumption and long-term reliability. They are using electromagnetic designs and innovative brushless motors to achieve higher efficiency levels of over 90% at high speeds. Integration of variable speed drives also contributes to high efficiency across operating range. Such advancements are resulting in widespread adoption among OEMs. High efficiency pumps reduce CO2 emissions and help meet tightening vehicle emission norms.
• Integration of Sensors for Diagnostics: Incorporation of sensors and electronics within electric coolant pumps is an emerging trend enabling advanced diagnostics, monitoring and control functions. For instance, pressure, temperature and speed sensors provide inputs to the integrated ECU unit. They enable condition monitoring capabilities including early failure detection. Diagnostic data can be accessed via in-vehicle networks such as CAN bus. This allows for proactive maintenance and reduced vehicle downtime. The sensor integration also aids in building smart pumps.
• Growing Adoption of Seal-less Magnetic Pumps: Seal-less or magnet drive pumps that do not require shaft seals are gaining increasing prominence in electric coolant pump applications. Unlike traditional pumps, magnetic drive pumps prevent leakages caused by seal wear. They offer maintenance-free operation and ability to run dry without damage. BMW, Volkswagen and Audi are some OEMs using seal-less magnetic pumps. Their adoption helps improve reliability and longevity while reducing costs associated with leakage issues.
• Usage of Advanced Materials for Lightweighting: Lightweighting continues to be a key focus area for automotive cooling system suppliers in order to enhance fuel efficiency. Manufacturers are adopting advanced materials such as aluminum, plastics and composites to reduce pump weight and dimensions. Thermoplastics like PBT can withstand high temperatures up to 200°C. Use of carbon fiber reinforced plastics also minimizes weight. Schaeffler and KSPG offer plastic housing pumps while Rheinmetall uses an alloy containing 70% aluminum. Lightweighting improves mechanical performance and heat resistance.

Electric Coolant Pump Market Restraints:

• High Costs Compared to Mechanical Pumps: Despite the benefits, the high costs of electric coolant pumps compared to conventional mechanical pumps remain a major restraint. The high costs stem from the integrated electronics and use of permanent magnet motors. Cost reduction remains a key focus area for suppliers as adoption among mass market and mid-priced vehicle segments remain low. As volumes increase, economies of scale can help bring down costs considerably making them viable for a wider range of vehicle segments.
• Complex Integration and Reliability Concerns: Integrating electric coolant pumps poses additional complexities owing to the sophisticated electronics and interfaces required. ECU configuration, diagnostic capabilities, control software are key aspects of seamless pump integration. Unlike belt-driven pumps, reliability of electric pumps remain a concern due to potential electronics and motor failures. OEMs need significant technical knowhow to ensure glitch-free operation over vehicle lifespan. Safety mechanisms to detect and prevent failures need to be robust.
• Power Consumption in High-Load Conditions: While electric pumps enhance fuel efficiency in normal conditions, their power consumption at high speeds and loads remain high. Mechanical pumps utilize engine drive power rather than electrical energy from the battery. The fuel savings benefits reduce considerably in high-load conditions at fast engine speeds. However, advanced speed control algorithms can help adjust flow rate thereby reducing power consumption. Use of ultracapacitors can also optimize energy usage.

Recent Developments

New product launches

• In January 2022, Bosch launched a new electric water pump for hybrid and electric vehicles. The pump offers 25% higher efficiency and silent operation.
• In June 2021, Aisin Seiki launched its first plastic bodied coolant circulation pump. The new pump reduces weight by approximately 2 kg.
• In May 2020, MAHLE introduced a controlled coolant pump for fuel cell and hybrid vehicles. It optimizes energy consumption using a standard DC motor.

Acquisition and partnerships

• In March 2022, Nidec Corporation acquired SME S.p.A., an automotive electric coolant pump manufacturer based in Italy. The acquisition strengthened Nidec's coolant pump capabilities.
• In January 2021, Rheinmetall Automotive acquired Reman coolant pump remanufacturing business from Motorcar Parts of America. The acquisition expanded its aftermarket remanufacturing portfolio.
• In December 2020, MAHLE partnered with Suzhou Huanhai Electric Pump to strengthen its position in China’s emerging electric pump market. Under this partnership, MAHLE will hold 49 percent stake in the Chinese manufacturer.

Figure 2. Global Electric Coolant Pump Market Share (%), by Type, 2023

Top companies in Electric Coolant Pump Market

• 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)

*Definition: Electric coolant pumps are advanced pump systems used in internal combustion engines and electric vehicles for circulating engine coolant and maintaining optimal temperature distribution in the engine and battery packs. Unlike conventional mechanical water pumps, electric pumps are driven by an integrated electric motor that is precisely controlled by the engine control unit.

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