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$ 328.3 million in 2023 and is expected to reach US$ 912.7 million by 2030, grow at a compound annual growth rate (CAGR) of 15.73% 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, technology and region. By vehicle type, the passenger cars segment is expected to dominate the market owing to the rising production of economy and mid-priced passenger vehicles globally.

Electric Coolant Pump Market Regional Insights

• The Asia Pacific market is expected to be the largest market for electric coolant pump, 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 the implementation of stringent emission standards in China, Japan, and India.
• North America is expected to be the second-largest market for electric coolant pump 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 the high production of pickup trucks and SUVs, along with increasing hybrid and electric vehicle sales.
• The Europe market is expected to be the fastest-growing market for the second-largest market for electric coolant pump, 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

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Analyst Viewpoint

The electric coolant pump market is poised to grow substantially in the coming years. The increasing stringency of emission norms and rising demand for fuel-efficient vehicles are the major drivers propelling the adoption of electric coolant pumps. As electric coolant pumps provide enhanced cooling performance and reduce the load on the engine, leading automobile manufacturers are fitting them as standard across their product lineups.

However, high initial costs could hinder the large-scale adoption of electric coolant pumps, especially in price-sensitive developing markets. Additionally, the availability of cheaper conventional coolant pumps continues to persist as a challenge. But with rapid evolution in technology, electric coolant pumps are expected to achieve price parity with traditional coolant pumps in the long run.

The Asia Pacific region, especially China and India, is projected to dominate the global electric coolant pump market owing to the massive automobile production in this region and growing focus toward curbing emissions. Original equipment manufacturers are aggressively collaborating with electric coolant pump suppliers to indigenize their production and make them more affordable. Meanwhile, Europe and North America will also witness sizable demand fueled by stringent emission norms in major countries.

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 Original Equipment Ms meet 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. For instance, passenger cars and vans are major contributors to greenhouse gas emissions in the EU, accounting for roughly 12% and 2.5% of total CO2 emissions, respectively. To address this issue, stricter CO2 emission performance standards were implemented for new vehicles in 2020. This change has already yielded significant results, with average CO2 emissions from new cars dropping by 12% in 2020 and an additional 12.5% in 2021.
• Increasing Production of Hybrid and Electric Vehicles: The rising trend of vehicle electrification provides significant opportunities for electric coolant pump manufacturers. These pumps find wide application in hybrid, plug-in hybrid, and battery electric automobiles. They play a critical role in the thermal management of HV batteries and power control units in electrified powertrains. According to the 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 electric coolant pump market.
• Advancements in Pump Technology: Original Equipment Manufacturers 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 remains a key focus for automakers, demand for next-generation 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 the optimal temperature of EV batteries is crucial to achieving driving range and ensuring safety. Coolant pumps enable precise control over the 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 the 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 the 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, and Audi are launching mild hybrid models. The volume growth in this segment will present new opportunities for electric pump suppliers. For instance, on September 18, 2023, Toyota an automotive company announced a new 48V mild-hybrid technology for its diesel-powered SUVs and pickup trucks. This system promises to improve the driving experience, boost fuel efficiency, and offer quieter starts compared to traditional start-stop systems.
• 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, and Brazil offer considerable potential for electric coolant pumps owing to increasing vehicle production and the adoption of stricter emission norms. These countries are projected to be the main engines of automotive industry growth in the next ten years. By setting up production facilities directly within these high-demand markets, automakers (OEMs) can better serve the burgeoning aftermarket parts and services sector. 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 the 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 Electronic Control Unit. They enable condition monitoring capabilities, including early failure detection. Diagnostic data can be accessed via in-vehicle networks such as Controller Area Network This allows for proactive maintenance and reduces 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. For instance, in November 2021, HMD Kontro, a leading specialist in magnetic drive sealless pumps, launched a new pump specifically designed for demanding hydrofluoric acid (HF) alkylation applications. Developed in collaboration with HF Unit Operators and UOP (Honeywell), the leading licensor of HF alkylation technology, this innovative pump features a high-integrity C22/C276 casing and offers exceptional leak-free performance.
• 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. The use of carbon fiber reinforced plastics also minimizes weight. Schaeffler a manufacturer of rolling element bearings and KSPG manufacturer of pumps and pumping equipment, offers 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 integrated electronics and the use of permanent magnet motors. Cost reduction remains a key focus area for suppliers as adoption among the mass market and mid-priced vehicle segments remains 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, the reliability of electric pumps remains a concern due to potential electronics and motor failures. OEMs need significant technical knowhow to ensure glitch-free operation over the vehicle’s 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 remains 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. The use of ultracapacitors can also optimize energy usage.

Counter Balance

Despite the undeniable advantages of electric coolant pumps, their initial adoption faces resistance due to cost, complexity, and performance limitations. The hefty price tag, driven by intricate electronics and powerful motors, makes them less attractive for budget-conscious segments. However, this challenge might be tackled by economies of scale as manufacturing volumes ramp up. Integrating these pumps seamlessly demands skilled engineering expertise, as ECU coordination, diagnostics, and control software play crucial roles. Reliability concerns stemming from potential electronics and motor failures linger, requiring robust safety mechanisms and OEM know-how for glitch-free operation. While electric pumps shine in typical use cases, their increased power consumption under high loads and speeds undermines their fuel-saving edge compared to traditional mechanical pumps. This drawback can be mitigated by implementing advanced speed control algorithms and energy-optimizing technologies like ultracapacitors. In conclusion, overcoming these hurdles through cost reduction, robust integration, and performance optimization paves the way for widespread acceptance of electric coolant pumps and their revolutionary impact on the automotive landscape.

Recent Developments

• In November, 2020, Pierburg, a German company known for its expertise in combustion engine pumps and valves, is revving its engines for the electric vehicle (EV) revolution. They're leveraging their decades of experience to create specialized components for fuel cell electric vehicles (FCEVs), a promising zero-emissions technology.

New product launches

• On November 7, 2023, Sweden's Concentric AB is a leading pump manufacturer, secured a significant business agreement in the rapidly growing Indian electric commercial vehicle market. The company won a US$ 6.7 million contract over 5 years, beginning production in 2025. Their innovative electric coolant pump will be used by an Indian OEM for a new electric bus platform. Concentric AB seeks to build a long-term partnership with this key customer, collaborating on future electric and fuel-cell bus projects.
• In August 2022, UK-based pump manufacturer KSB Ltd won a significant contract worth INR 5 million ($63 million) from Nuclear Power Corporation of India Ltd (NPCIL). The deal involves the supply of eight primary coolant pumps for units 5 and 6 at the Kaiga NPP in Karnataka, India. Deliveries are scheduled to begin in 2026, solidifying KSB's role in supporting India's nuclear energy development. This contract marks another milestone for KSB, following their previous successful delivery of eight primary coolant pumps and related equipment for Gorakhpur units 1 and 2 in 2018.
• In June 2021, German technology leader Rheinmetall secured a major contract for its CWA2000 high-voltage electric coolant pumps. The multi-million euro deal involves supplying hundreds of thousands of units to a major automaker, starting in 2026. This win underscores Rheinmetall's expertise in electric vehicle technology and strengthens its position as a leading Tier 1 supplier.

Acquisition and partnerships

• EBARA Pumps Europe, a subsidiary of EBARA Corporation, has signed an agreement to acquire SKF's coolant pump business, Spandau Pumpen. This deal, finalized on July 11, 2023, expands EBARA's pump portfolio and strengthens their position in the coolant pump market.
• On October 2, 2023, automotive giants MAHLE and HELLA divested their joint venture BHTC to display tech specialist AUO in a US$ 646.7 million deal. The two companies have agreed to sell their respective 50% shares in Behr-Hella Thermo control (BHTC), a leading supplier of automotive thermal management systems, to AUO Corporation, a Taiwanese leader in display panel technology. The transaction, valued at US$ 646.7 million based on enterprise value, is pending approval by relevant trade and antitrust authorities. Finalization is expected by mid-2024.
• On January 17, 2023, Fluid-o-Tech and Marelli Motorsport joined forces to develop innovative GaN technology for faster cooling in racing vehicles. The two industry leaders are collaborating to create a new and powerful cooling pump-motor unit that leverages the high efficiency of Gallium Nitride (GaN) technology. This will significantly enhance thermal management systems for motorsport competition vehicles. Marelli Motorsport brings expertise in supplying cutting-edge systems to top teams across major championships. Fluid-o-Tech, with its 70 years of experience in mechanical engineering and fluidics, is a renowned manufacturer of high-quality pumps and valves. Their combined knowledge, particularly in automotive emission control systems, is key to this groundbreaking venture.

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

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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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