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

Market Challenges And Opportunities

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.

• Stringent emission regulations 
• Increasing hybrid and electric vehicle production
• Technological advancements in electric pumps
• Need for higher fuel efficiency and lower emissions

• High costs compared to mechanical pumps
• Complex integration in existing vehicle designs 
• Reliability concerns due to electronics and motor failures

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.