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

The electric coolant pump market is set to grow significantly over the forecast period of 2023 to 2030. Electric coolant pumps are gaining popularity as an alternative to mechanically driven coolant pumps in modern vehicles. The advantages of electric coolant pumps such as easy controllability, higher efficiency, noise reduction, and ability to vary coolant flow make them an attractive option for automobile manufacturers. Several auto makers have started incorporating electronically controlled coolant pumps that can be intelligently operated based on varying engine temperature and load conditions. This improves the overall fuel efficiency and performance of modern high-tech vehicles. The miniaturization of power electronics is also favoring the growth of small yet powerful electric coolant pumps. The trend towards electrification of auxiliary components in automobiles is expected to drive the electric coolant pumps market.

Market Dynamics:

The global electric coolant pump market is driven by several factors. Firstly, the growing adoption of electric vehicles and hybrid electric vehicles is fueling the demand for electric coolant pumps. As governments worldwide are implementing stringent emission regulations, automakers are focusing on developing eco-friendly vehicles, which require efficient cooling systems. Additionally, the increasing consumer preference for electric vehicles due to their lower operating costs and reduced environmental impact is boosting market growth. Electric coolant pumps play a vital role in maintaining the temperature of the vehicle's powertrain, ensuring optimal performance, and extending the battery life. However, there are certain restraints that may hinder market growth. The high cost of electric coolant pumps compared to traditional mechanical pumps is a significant challenge. Moreover, the limited availability of charging infrastructure for electric vehicles in certain regions may hamper market growth.

Despite these challenges, the market presents several opportunities for growth. The rising investments in research and development activities to improve the efficiency and performance of electric coolant pumps are expected to drive market growth. Additionally, the increasing focus on developing advanced cooling systems for electric vehicles presents lucrative opportunities for market players.

Key features of the study:

• This report provides in-depth analysis of the global electric coolant pump market, and provides market size (US$ Mn) and compound annual growth rate (CAGR%) for the forecast period (2023–2030), considering 2022 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global electric coolant pump market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Aisin Seiki (Japan), Rheinmetall (Germany), Hanon Systems (South Korea), MAHLE (Germany), BorgWarner (US), Robert Bosch (Germany), GMB (Japan), DaviesCraig (Australia), Torishima Pump (Japan), and Modine (US)
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global electric coolant pump market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global electric coolant pump market

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
• Electric Coolant Pump Market, By Technology
• • Electric
  • Mechanical
  • Hydraulic
• Electric Coolant Pump Market, By Region
• • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa
• 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)