Market News
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.
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