Dublin, May 02, 2024 (GLOBE NEWSWIRE) -- The "Global Electric Coolant Pump Market by Type (Sealed, Sealless), Sealless (Electrical, Magnetic), Power Output (<150W, 150-200 W, >250 W), 48V & Electric Vehicle Type, Communication Interface (LIN, CAN, PWM), Application and Region - Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The electric coolant pump market is estimated to grow from USD 1.9 billion in 2024 to USD 3.9 billion by 2030 at a CAGR of 12.8% during the forecast period. Electric coolant pumps help reduce emissions by reducing the engine load, thus improving fuel efficiency. Therefore, with the decreasing emission limits in the upcoming emission regulations and growing demand for hybrid & plug-in hybrid vehicles, the demand for electric coolant pumps is projected to grow.
For instance, introducing Euro VI and China VI has pushed automakers to employ fuel-efficient technologies such as electric coolant pumps in their vehicles. However, relatively high costs and maintenance can hinder the overall growth of the electric coolant pump market.
Less than 150 W electric coolant pump holds the largest market share during the forecast period.
The market demand for Less than 150 W electric coolant pumps is attributed to their compact cooling with low power consumption. Electric coolant pumps with a wattage range of Less than 150 W are typically used in smaller vehicles or auxiliary cooling systems where lower power consumption and flow rates are sufficient. Rheinmetall Automotive classifies these pumps into two segments: 15 W and 50-150 W. The 15 W electric coolant pumps are used mainly for ancillary assembly cooling, air conditioning for ICE passenger vehicles, turbocharged engines, and cooling emission control systems. The 50-150 W electric coolant pumps are used for air conditioning in electric and hybrid vehicles, battery cooling, DC-DC converter, and power electronics cooling.
Electric coolant pumps of Less than 150 W wattage range are primarily installed in compact and mid-size electric passenger cars due to their lower power requirements, optimized thermal management systems, noise reduction, and cost-effectiveness. The demand for Less than 150 W electric coolant pumps is higher in the Asia Pacific mainly due to the growing sales of economy electric vehicles in emerging economies of the region. Economy electric vehicles have less than 150 W electric coolant pumps for auxiliary applications, central battery cooling, and DC-AC converter cooling.
The 48 V mild hybrid vehicle market is analyzed as the largest segment for electric coolant pumps.
The growing demand for high vehicle performance has led to the popularity of 48 V vehicles since these vehicles are highly effective despite capping voltages below a 60 V cut-off. 48 V systems can distribute power to EV components without causing Safety-Extra Low-Voltage (SELV) and minimizing copper losses. 48 V systems also allow four 12V batteries to be placed in series, eliminating the need for lead-acid batteries. Further, 48 V systems also benefit from providing increased power to the components without raising the current level. Due to increased power requirements, 48 V systems employ more electric coolant pumps than 12 V. 48 V mild-hybrid vehicle architecture, which is increasingly adopted in ICE vehicles.
Hyundai Santa FE and KIA Sportage are examples of 48 V mild hybrid vehicles with turbodiesel engines. Europe is estimated to lead the most significant market during the forecast period due to increasing sales of 48 V hybrid passenger cars in the region. Additionally, considering the stringency in emission norms globally, 48 V hybrid systems demonstrate 28% fuel savings, a NOx reduction of 46%, and a particulate decrease of 93%. Thus, considering these factors, the demand for 48 V mild hybrid electric vehicles is expected to grow in the coming years, ultimately driving the demand for the electric coolant pump market.
Sealless Electric coolant pump is the largest and fastest-growing segment during the Forecast Period.
Sealless pumps are increasingly becoming popular as they eliminate the need for dynamic seals, reducing the wear and tear of the pump. This also eliminates the periodic seal replacement cost. As coolant leakage can be dangerous to EV components, sealless pumps provide increased safety to the vehicle. Also, the coupling between the motor and pump is easy and requires no alignment, making the installation convenient for sealless pumps. Thus, sealless electric coolant pumps exhibit high efficiency in reduced emissions and better reliability, making them particularly desirable for electric and hybrid vehicle models.
Furthermore, sealless electric coolants can be electrically/canned or magnetically driven, and electrically driven coolant pumps hold the prominent market due to their several technical benefits over mechanically driven pumps. Given the significant space occupied by batteries, automotive OEMs favor less expensive electric coolant pumps with their compact size. Thus, increasing sales of electric vehicles coupled with continuous research and developments in sealless electric pump technology to produce lower maintenance and leak-proof products, the sealless pump market is anticipated to remain dominant in the coming future.
This report provides insights concerning the following:
- Country-level electric vehicle type-wise market: The report offers in-depth market sizing and forecasts for 2030 by electric vehicle types, such as battery electric vehicles (BEVs) and Plug-in hybrid vehicles (PHEVs). This study covers the market sizing for the electric coolant pump market at the country and regional levels.
- By Electric Vehicle Use: The report offers in-depth market sizing and forecasts up to 2030 by electric vehicle use, such as e-passenger cars, e-light vans, e-full-size vans, e-pick-up trucks, e-medium-duty trucks, e-heavy-duty trucks, and e-buses at the regional level. In-depth analysis of different vehicle types at the regional level.
- Sealless Electric Coolant Pump By Type: The report offers in-depth market sizing and forecasts up to 2030 by sealless electric coolant pump types, such as electrically/ canned driven and magnetically driven. The report provides market sizing and forecasting till 2030 by types, such as electrically/canned-driven and magnetically driven.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 319 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $1.9 Billion |
| Forecasted Market Value (USD) by 2030 | $3.9 Billion |
| Compound Annual Growth Rate | 12.8% |
| Regions Covered | Global |
Key Topics Covered:
Executive Summary
- Electric Coolant Pump Market Outlook
- Electric Coolant Pump Market, by Region, 2024 vs. 2030 (USD Million)
Premium Insights
- Attractive Growth Opportunities for Players in Electric Coolant Pump Market - Rising Demand for Electric Vehicles to Drive Market
- Electric Coolant Pump Market, by Wattage Range - < 150 W Segment to Dominate Market from 2024 to 2030
- Electric Coolant Pump Market, by Voltage Type - 12 V Segment to Lead Market During Forecast Period
- Electric Coolant Pump Market, by Application - Battery & Power Electronics Segment to Witness Highest CAGR During Forecast Period
- Electric Coolant Pump Market, by Type - Sealless Pumps to Lead Market During Forecast Period
- Sealless Electric Coolant Pump Market, by Type - Magnetically Driven Segment to Register Higher CAGR Than Electrically Driven Segment During Forecast Period
- Electric Coolant Pump Market, by Electric Vehicle Type - BEVs Segment to Dominate Market During Forecast Period
- Electric Coolant Pump Market, by Electric Vehicle Use - E-Passenger Cars Segment to Account for Largest Market Share During Forecast Period
- Electric Coolant Pump Market, by Ice Vehicle Type - 48 V Mild Hybrid Vehicles Segment to Lead Market During Forecast Period
- Electric Coolant Pump Market, by Communication Interface - Lin Segment to Register Highest CAGR During Forecast Period
- Electric Coolant Pump Market, by Region - Asia-Pacific to Account for Largest Market Share in 2024
Key Market Dynamics
Drivers
- Technical Benefits of Electric Coolant Pumps Over Mechanical Pumps
- Stringent Emission Norms and Rising Electrification of Vehicles
- Increasing Sales of Turbocharged Engines
Restraints
- High Product and Maintenance Costs
- Complexity in Integration with Existing Ice Vehicles
Opportunities
- Advancements in Electric Coolant Pump Technology and Strategic Partnerships Between OEMs
- Developments in Ceramic Seal Material
Challenges
- Complex Design with Different Electronics Leading to Failure of Electric Coolant Pumps
Technology Development
- Power Trends in Electric Coolant (Water) Pump Industry Up to 800 V Range
- Electric Coolant Pump, by Non-Sealed Pump Material
- Shaft Material
- Bearing Material
Case Study
- Case Study 1: Modelon Inc. Integrating Thermal Management Systems for Electric and Hybrid Vehicles
- Case Study 2: Power Transmission Systems with Electric Water Pumps by Gates Corporation
- Case Study 3: E-Water Pump Solutions of Concentric Ab
- Case Study 4: Enhanced Water Pump Durability and Performance of Advanced Test and Automation Inc.
Companies Featured
- Continental
- Robert Bosch
- Rheinmetall
- Mahle
- Denso
- Aisin Seiki Co. Ltd.
- Concentric Ab
- Schaeffler AG
- Hella
- Gates Corporation
- Hanon Systems
- Vovyo Technology Co. Ltd.
- Tops Industry & Technology Co. Ltd.
- Buhler Motor GmbH
- Davies Craig
- Valeo SA.
- Ntn Corporation
- Carter Fuel Systems, LLC
- Gmb Corporation
- Industrie Saleri Italo S.P.A.
- Grayson Thermal Systems
- Shw AG
- EMP Corp
- Slpt
- Hitachi Astemo, Ltd.
- Sanhua Automotive
For more information about this report visit https://www.researchandmarkets.com/r/mtlf7f
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