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

Electric Coolant Pump Market, By Type (Full-size, Mid-size, Compact-size, Mini-size, Others), By Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Electric Vehicles, Others), By Application (Engine Cooling, Battery Cooling, Turbocharger Cooling, Others), By Propulsion Type (BEVs, PHEVs, HEVs, ICE Vehicles, FCEVs), By Technology (Electric, Mechanical, Hydraulic), By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)

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

Geographies covered:

North America: U.S. and Canada
Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
Middle East & Africa: GCC Countries, Israel, South Africa, North Africa, and Central Africa and Rest of Middle East