Electric Coolant Pump Market Share & Size | Global Report 2028

Electric Coolant Pump Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Application (Engine Cooling & HVAC, Battery & Power Electronics Cooling, and Gearbox Cooling), Power (Below 100 W and Above 100 W), Vehicle Type (Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles), Propulsion Type (ICE, Electric, and Hybrid), and Pump Type (With ECU and Without ECU)

Publication Month : Oct 2022

  • Report Code : TIPRE00014274
  • Category : Automotive and Transportation
  • Status : Published
  • No. of Pages : 252
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The electric coolant pump market was valued US$ 467.46 million in 2022, it is estimated to grow at a CAGR of 16.8% from 2022 to 2028.

An electric coolant pump is one of the indispensable parts of the cooling system in an automobile. It is used to maintain the engine temperature, power train cooling, and other accessories, such as battery and power electronics cooling. Electric coolant pumps provide various technical benefits over mechanically driven pumps. They are highly efficient with emissions, less expensive, and compact, among other features. Thus, preference for electric coolant pumps is growing due to technical advantages to mitigate emission, bolstering the electric coolant pump market growth. Additionally, the increase in the production of vehicles and the rise in the demand for eco-friendly vehicles are also propelling the need for electric coolant pumps.

Technological advances in the automotive industry are constantly replacing mechanical components with electronic components as they are highly efficient and capable of handling higher complexities than conventional components. For instance, developments in the transmission system are leveraging the uptake of automatic transmission vehicles, and hydraulic power steering is being replaced with electric power steering. Also, conventional ICE is integrated and controlled with electronic components with the help of engine management systems. In addition to these developments, the growing awareness of reducing vehicle emissions is forcing vehicle manufacturers to implement new advancements in powertrain components. Thus, such factors are gaining momentum, driving the global electric coolant pump market.

The electric coolant pump market is highly fragmented, and vendors use growth strategies, including product portfolios, innovation, and strategic partnerships, to compete in the market. To develop business and recover from the COVID-19 pandemic impact, market vendors focus on fast-growing segments and maintain their positions in slow-growing segments.

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Electric Coolant Pump Market: Strategic Insights

Market Size Value inUS$ 467.46 Million in 2022
Market Size Value byUS$ 1,188.28 Million by 2028
Growth rateCAGR of 16.8% from 2022 to 2028
Forecast Period2022-2028
Base Year2022
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Impact of COVID-19 Pandemic on Electric Coolant Pump Market Growth

The COVID-19 outbreak drastically impacted the global economy during its peak in 2020 in its initial days. The crisis hampered business activities in IT and other industries. Small and medium-scale companies are the backbone of advanced technology providers, which witnessed a steep drop in revenue since the outbreak in 2020. It affected the value chain analysis and financially impacted certain companies. Before the COVID-19 outbreak, the electric coolant pump market was experiencing substantial growth, owing to the increase in disposable income and a rise in the sale of automotive vehicles. Further, there were significant investment initiatives in the development of electric vehicles, which helped strengthen the demand for electric coolant pumps. However, the onset of the COVID-19 pandemic slowed down the investment and production units, hampering the business dynamics of the electric coolant pump market. The COVID-19 pandemic negatively influenced the electric coolant pump market, owing to disruption in the supply chain, the shutdown of production units, and declining demand from end users. During the initial days of the pandemic, all business deals, collaborations, and partnerships were significantly restricted. The emergence of the pandemic hampered the sales of vehicles in February 2020; furthermore, the sales dropped by 47% in the US and 80% in Europe by April. As per a report by Statista, global car sales dropped to 63.8 million in 2020 and registered a slow recovery in 2021 with 66 million sales.

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Market Insights – Electric Coolant Pump Market

Advantages of Electric Coolant Pumps Over Mechanical Pumps

The electric coolant pump consumes a small amount of energy to perform the cooling function. It takes the 12V output from the car battery and supplies coolant to the engine of the vehicle. Also, there is no energy loss while using the electric coolant pump. The constant electric power results in an uninterruptible supply of coolant to the engine. However, the mechanical pump extracts energy from the crankshaft, which is then transferred to the belt and pulley system and finally to the pump. Hence, the true power from the crankshaft is never fully transferred to the coolant pump. Moreover, the mechanical coolant pump has several moving parts, which results in friction and the production of heat inside the engine bay. On the other hand, the electric pump has fewer moving parts and are compact in size, saving space and reducing friction. Thus, the aforementioned advantages of the electric coolant pumps over the mechanical pumps are aiding the market growth.

Application-Based Market Insights

Based on application, the electric coolant pump market is segmented into engine cooling and HVAC, battery and power electronics cooling, and gearbox cooling. The engine cooling and HVAC segment accounted for the largest share of the electric coolant pump market in 2021, owing to the increased usage of electric coolant pumps for cooling the engine and HVAC components. Moreover, the battery and power electronics cooling segment is projected to grow rapidly during the forecast period. The continuity in operation leads to an increase in heat generation in the battery and power electronics systems that augments the demand for electric coolant pumps for cooling applications.

Power-Based Market Insights

Based on power, the electric coolant pump market is segmented into below 100 W and above 100 W. The below 100 W segment accounted for a larger share of the electric coolant pump market in 2021, owing to an increase in demand for auxiliary cooling purposes. Moreover, the above 100 W segment is projected to grow at a faster pace during the forecast period owing to increasing deployment in electric vehicles, which drives the segment growth.

Vehicle Type-Based Market Insights

In terms of vehicle type, the global electric coolant pump market is segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles. The passenger cars segment accounted for the largest share of the electric coolant pump market in 2021, owing to an increase in the availability of several electric models. Moreover, the heavy commercial vehicles segment is projected to grow at the fastest pace during the forecast period, owing to the rise in the sale of heavy commercial vehicles.

Propulsion Type-Based Market Insights

Based on propulsion type, the electric coolant pump market is segmented into ICE, electric, and hybrid segment. The ICE segment accounted for the largest share of the electric coolant pump market in 2021. The segment's growth is primarily attributed to the growing adoption of electric coolant pumps in ICE vehicles, owing to the increasing electrification of ICE-powered vehicles and rising sales of plug-in electric vehicles. Moreover, the electric segment is projected to grow at the fastest pace during the forecast period, owing to the increasing shift in adopting electric vehicles.

Pump Type-Based Market Insights

Based on pump type, the electric coolant pump market is segmented into with ECU and without ECU. The without ECU segment accounted for a larger share of the electric coolant pump market in 2021. The growth of the without ECU segment is primarily attributed to the increase in the sale of low-medium priced vehicles having budget constraints. In contrast, the ECU incurs a higher cost which makes it a budget constraint for most of the buyers. However, the with ECU segment is projected to grow at a faster pace during the forecast period, owing to increasing demand for vehicles with ECU.

Players operating in the electric coolant pump market are mainly focused on developing advanced and efficient products.

  • In May 2022, Hanon Systems a provider of thermal and energy management solutions for the automotive industry announced the opening of a new plant in Hubei, China. According to Min Sung president and chief executive officer of Hanon Systems the company continues to build its global business by investing in the design of cutting-edge eco-friendly automotive solutions and assisting manufacturers in the electrified vehicle category.
  • In January 2021, MAHLE Aftermarket planned to increase its sales by 18.5% (approximately EUR 1.1 billion). MAHLE Aftermarket expanded and included a range of solutions that allows independent workshops to perform diagnostics and maintenance for e-vehicle batteries. In order to ensure its capacity to deliver despite the current tensions in the global supply chain, the business unit realigned its logistics structures and set an unwavering course for digitization. For example, the introduction of fully automated logistics hubs in the future will ensure rapid and error-free delivery.

Companies Profiled:

  • Aisin Seiki Co. Ltd.
  • Continental Ag
  • Gmb Corporation
  • Hanon Systems
  • Hitachi Automotive Systems, Ltd.
  • Johnson Electric Holdings Limited
  • Mahle Gmbh
  • Rheinmetall Automotive Ag
  • Robert Bosch Gmbh
  • Vovyo Technology Co., Ltd
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Application, Power, Vehicle Type, Propulsion Type, and Pump Type

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, UAE, UK, US

Frequently Asked Questions

What is the incremental growth of the electric coolant pump market during the forecast period?

The incremental growth of the electric coolant pump market during the forecast period is US$ 720.82 million with a CAGR of 16.8%

Which is the leading application segment in the electric coolant pump market?

The engine cooling and HVAC segment led the electric coolant pump in 2021.

What will be the global market size for the electric coolant pump market by 2028?

The global electric coolant pump market size is projected to reach US$ 1,188.28 million by 2028.

Which is the fastest growing regional market?

APAC is the fastest-growing regional market in the global Electric coolant pump market in 2021.

Which countries are registering a high growth rate during the forecast period?

US, Germany, India, South Africa, and Brazil are the countries are registering a high growth rate during the forecast period.

Which are the key players holding the major market share of electric coolant pump market?

The key players holding the major market share of electric coolant pump are AISIN SEIKI Co., Ltd., Continental AG, Hanon Systems, Mahle GmbH, Robert Bosch GmbH, Inc.

What are the future trends of the electric coolant pump market?

The Future trends impacting the electric coolant pump market are increase in number for electric vehicles

What is the estimated global market size for the electric coolant pump market in 2021?

The global electric coolant pump market was valued at US$ 467.46 million in 2022.

What are the driving factors impacting the global electric coolant pump market?

The driving factors impacting the Electric coolant pump market are
1. Advantages of Electric Coolant Pumps Over Mechanical Pumps
2. Increase in Production of Vehicles and Rise in Demand for Eco-Friendly Vehicles

The List of Companies - Electric Coolant Pump Market

  1. AISIN SEIKI Co.Ltd.
  2. Continental AG
  3. Hanon Systems
  4. Hitachi Automotive Systems, LTD
  5. Johnson Electric Holdings Limited
  6. Mahle GmbH
  7. Rheinmetall Automotive AG
  8. Robert Bosch GmbH
  10. VOVYO Technology Co., Ltd

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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