Electric Coolant Pump Market for Passenger Cars to grow by USD 26.58 Billion from 2024-2028, driven by rapid electrification of components, with AI redefining the market landscape – Technavio – PR Newswire

NEW YORK, Oct. 21, 2024 /PRNewswire/ — Report with market evolution powered by AI – The Global Electric Coolant Pump for Passenger Cars market size is estimated to grow by USD 26.58 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 20.6%  during the forecast period. Rapid electrification of mechanical components is driving market growth, with a trend towards improvements in automotive electric pump system. However, recalls due to faulty electric coolant pumps  poses a challenge – Key market players include AISIN CORP., Buhler Motor GmbH, Continental AG, Davies Craig Pty Ltd., Gates Industrial Corp. Plc, GMB CORP., Hanon Systems, Johnson Electric Holdings Ltd., MAHLE GmbH, Mikuni Corp., Nidec Corp., Rheinmetall AG, Robert Bosch GmbH, Sanhua Holding Group Co. Ltd., Schaeffler AG, Sogefi Spa, Stellantis NV, Valeo SA, and VOVYO TECHNOLOGY Co. Ltd..

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Key Market Trends Fueling Growth

Vehicle manufacturers are focusing on enhancing safety, comfort, and performance in automotive systems, particularly for electric vehicles (EVs). Notably, advancements in electric pumps, such as electric water pumps (EWP), have emerged as key components in this regard. In November 2021, Gates introduced its next-generation EWP technology for hybrid and battery electric vehicles (BEVs). This compact, high-accuracy pump improves heat transfer efficiency, contributing to enhanced vehicle performance. These advancements in electric coolant pumps are anticipated to extend to internal combustion engine (ICE) passenger cars, positively impacting the global market for electric coolant pumps during the forecast period. 

The Electric Coolant Pump market for Passenger Cars is experiencing significant growth due to the increasing trend of electric vehicles (EVs) in the Passenger Car Market. Robust cooling systems are essential for optimal engine performance in Electric Vehicles, especially with the challenges of circuit board degradation. Coolant types, such as water-based and glycol-based, are used to maintain thermal management. OEMs are focusing on vehicle segmentation, including Sedans, SUVs, Hatchbacks, MPVs, Coupes, and Hybrid Electric Vehicles, to offer compact and lightweight designs using Electric Coolant Pumps. Coolant flow rates are controlled by digital systems, and brushless DC motors power the pumps. Intelligent Control Units ensure efficient cooling, adhering to emission standards and enhancing fuel efficiency. Aftermarket installations are also gaining popularity for improving cooling systems in Internal Combustion Engines and Hybrid Vehicles. 

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Market Challenges

• Vehicle recalls due to defective electric coolant pumps or potential failures pose a significant challenge for stakeholders in the automotive industry. For instance, BMW recalled over 1.03 million cars globally in March 2022 due to potential fire risks caused by overheating issues at high engine speeds. Affected vehicles had circuit boards with critical design flaws prone to overheating. This issue led to recalls in the US (917,106 vehicles), Canada (98,000), and South Korea (18,000). Although collaborative efforts between manufacturers and suppliers have reduced the cost burden on vehicle manufacturers, the increasing recall costs impact profit margins for tier-1 suppliers and other stakeholders in the value chain. Such incidents hinder the growth of the global electric coolant pump market for passenger cars during the forecast period.
• The Electric Coolant Pump market for Passenger Cars is experiencing significant growth due to the trend towards vehicle electrification. OEMs are integrating electric coolant pumps into Hybrid and Electric Vehicles to meet emission regulations and improve fuel efficiency. These pumps, which use Brushless DC Motors and Intelligent Control Units, offer high cooling performance with minimal power consumption. However, challenges remain. Seal-less Magnetic Pumps and Lightweighting with Advanced Materials are essential for reducing power consumption and optimizing energy. Coolant flow control is crucial for engine efficiency, as overheating issues can lead to CO2 emissions and exhaust emissions. Global emission regulations, such as those related to Fuel-efficient technologies and Turbocharged engines, are driving demand for electric coolant pumps. Aftermarket installations are also gaining popularity, as consumers seek to improve their vehicle’s thermal management and reduce fuel consumption. Emerging economies present both opportunities and challenges, as increasing vehicle sales and the adoption of Electric Vehicles create a growing demand for electric coolant pumps. Cooling performance and engine compartment size are key considerations for OEMs designing advanced cooling systems that meet emission norms and provide optimal thermal management.

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Segment Overview 

This electric coolant pump for passenger cars market report extensively covers market segmentation by

1. Application 

• 1.1 ICE powertrain
• 1.2 Hybrid and electric powertrain

• 2.1 Battery electric vehicle
• 2.2 Plug-in hybrid electric vehicle
• 2.3 Hybrid electric vehicle

• 3.1 APAC
• 3.2 Europe
• 3.3 North America
• 3.4 South America
• 3.5 Middle East and Africa

1.1 ICE powertrain-  The Electric Coolant Pump Market for passenger cars is experiencing significant growth. Manufacturers are increasingly integrating electric coolant pumps into their vehicles to improve fuel efficiency and reduce emissions. These pumps operate by circulating coolant through the engine to maintain optimal operating temperature. The market is driven by factors such as stringent emissions regulations and consumer demand for more eco-friendly vehicles. Major players in the market include Bosch, Denso, and Valeo.

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Research Analysis

Electric coolant pumps are an essential component of thermal management systems in passenger cars, particularly in the context of vehicle electrification. These pumps circulate coolant to maintain optimal engine temperature in electric and hybrid vehicles, as well as traditional internal combustion engine vehicles. With the increasing focus on fuel efficiency, emission regulations, and electrification, the market for electric coolant pumps in passenger cars is experiencing significant growth. Global emission regulations, such as EU6 and US EPA standards, mandate strict exhaust emissions limits, driving the adoption of fuel-efficient technologies like electric coolant pumps. These pumps help improve engine performance, reduce fuel consumption, and lower exhaust emissions in various vehicle segments, including sedans, SUVs, hatchbacks, MPVs, and coupes. Electric coolant pumps are crucial for thermal management in hybrid and electric vehicles, ensuring battery thermal management and efficient motor design. The aftermarket for electric coolant pumps is also growing, as consumers seek to improve their vehicle’s performance and fuel efficiency. Advanced cooling systems utilizing electric coolant pumps help meet emission norms and enhance overall vehicle performance, making them an essential component in the passenger car market. Power consumption, motor design, and battery thermal management are key considerations for electric coolant pump manufacturers to optimize their products for the evolving passenger car landscape.

Market Research Overview

Electric coolant pumps are becoming increasingly popular in passenger cars as part of the vehicle electrification trend. These pumps, which use Brushless DC Motors and Intelligent Control Units, are more efficient than traditional coolant pumps, contributing to improved fuel efficiency and reduced CO2 emissions. The market for electric coolant pumps in passenger cars is driven by emission regulations and the growing popularity of hybrid vehicles and electric vehicles. Electric coolant pumps are essential for thermal management in passenger cars, ensuring optimal cooling performance and engine efficiency. They are also used in battery thermal management systems for electric vehicles. The market for electric coolant pumps is not limited to OEMs but also includes aftermarket installations. Emerging economies are expected to drive the growth of the electric coolant pump market due to increasing sales of electric passenger cars and the need for advanced cooling systems to meet global emission regulations. Coolant flow control, coolant type, and coolant flow rate are critical factors in the design of electric coolant pumps. Electric coolant pumps are compact and lightweight, using advanced materials to minimize power consumption and optimize energy usage. They are also used in turbocharged engines to prevent overheating issues and circuit board degradation. The market for electric coolant pumps is segmented by vehicle type, including sedans, SUVs, hatchbacks, MPVs, and coupes. The electric coolant pump market is expected to grow significantly due to the increasing demand for fuel-efficient technologies and the need for robust cooling systems in electric vehicles. The market is also driven by the increasing popularity of hybrid electric vehicles and the need to meet emission norms. The future of electric coolant pumps lies in the development of high-efficiency pumps, seal-less magnetic pumps, and digital control systems for compact and lightweight designs.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Application
• ICE Powertrain
• Hybrid And Electric Powertrain
• Type
• Battery Electric Vehicle
• Plug-in Hybrid Electric Vehicle
• Hybrid Electric Vehicle
• Geography
• APAC
• Europe
• North America
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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