The electric coolant pump industry size is projected 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.
The market for electric coolant pumps is expected to develop as a result of factors such stricter emission laws and lower emission limits, which allow electric coolant pumps to help reduce emissions and engine load. The market for electric coolant pumps is also anticipated to grow as a result of factors including the rise in hybrid and plug-in hybrid electric vehicles as well as strong GDI engines fitted with gasoline turbochargers. These elements support ongoing advancements in pump parameters, such as power output, and growing OEM-electric coolant manufacturer partnerships feed its rising appeal. As a result, the market for electric coolant pumps is anticipated to increase significantly in the coming years.
“During the forecast period, 12 V electric coolant pumps will account for the largest share of electric coolant pumps.”
The majority of hybrid and electric passenger cars and light trucks require less power and voltage. Batteries, inverters, power electronics, lighting, and other primary and auxiliary uses are typically powered by a 12V electrical system. As a result, the market for electric coolant pumps worldwide is led by 12 V models. The 12V electric coolant pump’s small size permits it to be positioned wherever in the vehicle’s powertrain, which facilitates effective packaging and system integration. In comparison to higher voltage systems, it also offers greater efficiency with less energy usage, and the parts needed to run a 12V electric coolant pump are widely accessible and reasonably priced. As a result, it is regarded as an affordable vehicle thermal management solution.
Furthermore, it is anticipated that technical advantages like less contact erosion problems would consistently encourage automakers and tier-1 suppliers to create advanced 12V electric coolant pumps. For example, Robert Bosch created the PCE 2.0, a 12 V electric coolant pump with a sturdy design that can withstand high vibrations and temperatures up to 140 degrees Celsius. It is appropriate for internal combustion engines, hybrid cars, and electric vehicles. Since a 12V coolant pump configuration efficiently meets the power requirements of light-duty vehicles and is adequate for cooling essential components, it will remain a financially viable option for vehicle thermal management in the future.
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By 2030, the Local Interconnect Network (LIN) market is anticipated to be the biggest and fastest-growing communication interface.
One of the more recent communication interfaces designed to establish a standard for inexpensive communication in the automotive industry is called LIN. Its tiny size, straightforward construction, and features like real-time feedback and troubleshooting make it a popular option for electric vehicles. The cost per node of the LIN interface is two to three times lower than that of the CAN, and the use of this communication interface has been made possible by the growing use of electronics such as switches and sensors. In order to facilitate early defect identification and prompt troubleshooting, LIN also enables the control unit to receive diagnostic data from the coolant pump, such as fault codes or error messages indicating problems with pump operation or system performance. In their passenger automobile models, the majority of OEMs use a 150 W LIN interface. The LIN interface is an inexpensive communication interface that works well with the coolant flow rate found in passenger cars. LIN is a better option than the CAN interface since it requires less bandwidth and is adequate for moving coolants via circuits. Implementing and integrating LIN into electric coolant pump systems is made simpler by its straightforward protocol and reduced data rates. Compared to CAN, this simplicity can save development time and effort. LIN uses less power than CAN because it works at a lower data rate. This is important for electric vehicles because reduced power consumption increases battery life and improves overall vehicle efficiency. LIN is appropriate for adding more features to the coolant pump system in the future since it enables the connection of numerous sensors and actuators inside a confined network.
Furthermore, the LIN interface regulates the majority of electric coolant pumps sold by significant suppliers, including Denso Corporation, Continental AG, Rheinmetall, and Robert Bosch GmbH. They can be used to cool the motor, batteries, and other auxiliary components. As a result, the LIN interface may see substantial expansion in the upcoming years due to the increasingly sophisticated capabilities of electric coolant pumps.
“During the forecast period, Asia Pacific will lead the electric coolant pump market.”
With significant market shares, China, a major worldwide hub, and Japan, a major automotive center, lead the Asia Pacific area as the main market for electric coolant pumps. Because BEVs and hybrid turbocharged engines are becoming more and more popular, the Chinese market for electric coolant pumps is expected to increase significantly. For example, China accounted for 65 percent of global EV sales in 2023, according to the Electric Vehicle World Sales Database. Furthermore, in 2023, China exported almost 900,000 EVs. Furthermore, one important element anticipated to drive market expansion in the near future in India is the implementation of BS VI emission standards. Due to the increased demand for economy electric vehicles that require low-powered electric coolant pumps, there is a greater need for 12 V electric coolant pumps with a power wattage range of less than 150 W in the Asia Pacific region. Electric coolant pump suppliers like Denso Corporation (Japan), Aisin Seiki Co., Ltd. (Japan), and Hanon Systems (South Korea) have an opportunity because the majority of OEMs in the Asia Pacific region use 12 V and less than 150 W electric coolant pumps in their electric vehicle models. These companies specialize in developing 12 V electric coolant pumps.
Furthermore, in nations like China, where 24 V electric coolant pumps are widely used, there is a greater need for e-trucks and buses. For example, 99% of the world’s fleet of electric buses is in China, according to PRI (Public Radio International). The demand for 24 V electric coolant pumps is therefore anticipated to increase at a notable CAGR over the forecast period in tandem with the rising sales of electric buses and commercial vehicles.
Furthermore, it is expected that the involvement of significant businesses like Aisin Seiki Co., Ltd. (Japan), Denso Corporation (Japan), Hanon Systems (South Korea), and GMB Corporation (Japan) will generate advantageous prospects in the electric coolant pump industry.
Key Market Players
Leading companies in the electric coolant pump market include Concentric AB (Sweden), Schaeffler AG (Germany), Denso Corporation (Japan), Aisin Seiki., Co. Ltd. (Japan), Continental AG (Germany), Rheinmetall AG (Germany), Mahle GmbH (Germany), Robert Bosch GmbH (Germany), and Hella GmbH & Co. KgAa (Germany). Along with their company profiles, MnM’s assessment of the top five firms, recent advancements, and important market strategies, the study provides a thorough competition analysis of these major players in the electric coolant pump market.
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