PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1630541
PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1630541
Global electric coolant pump market is projected to witness a CAGR of 9.11% during the forecast period 2025-2032, growing from USD 2.29 billion in 2024 to USD 6.54 billion in 2032. The market has experienced significant growth in recent years and is expected to maintain a steady expansion in the coming years owing to a growing requirement for electric vehicles, rising awareness concerning carbon emission, increasing environmental regulations, and advancements in automotive technology coupled with the surging requirement for greater energy efficiency in different applications. The rising preference for electric vehicles is one of the key drivers for the growing demand for electric coolant pumps. Unlike internal combustion engine vehicles, electric vehicles demand efficient thermal management systems to regulate the temperature of the electric motor and battery, which further propels the global market growth for electric coolant pumps in the forecast period. Additionally, electric coolant pumps ensure optimal performance and safeguard against overheating, driving the electric coolant pump requirement in the automotive industry. Furthermore, stringent emission norms to cut down vehicular emissions and growing requirements for electric vehicles across the globe are projected to be the foremost reasons for the rising market growth. Governments in emerging countries are enforcing stricter emission standards, motivating automakers to adopt energy-efficient technologies. Electric coolant pumps help optimize engine and powertrain performance by maintaining the ideal operating temperature, enhancing fuel effectiveness, and reducing carbon emissions in both internal combustion engines and hybrid electric vehicles.
The consistent innovation in pump design and integration with other vehicle systems has increased the demand for improved pump efficiency, performance, and durability. The development of brushless DC motors and integration with vehicle control systems allows more adaptable and advanced cooling solutions, further driving the market growth for electric coolant pumps in the forecast period. Also, the demand for electric coolant pumps is not restricted to automotive applications; it is also demanded from robotics, industrial, machinery, and consumer electronics. Therefore, companies in the market are getting orders for electric coolant pumps, which further benefits them in expanding their market product portfolio and market share.
For instance, in June 2024, Rheinmetall AG won a major order for several million electric coolant pumps, which will be used in the manufacturer's hybrid-powered vehicles. Rheinmetall AG aims to contribute to emission control by manufacturing electric coolant pumps.
Rapid Adoption of Electric Vehicles Drives the Global Electric Coolant Pump Market
The rapid shift towards electric vehicles is one of the foremost drivers for the global electric coolant pump market growth in the forecast period. As the automotive industry is growing significantly and decreasing the usage of internal combustion engines in vehicles, the projected demand for efficient cooling solutions has risen considerably. Electric coolant pumps are important in EVs for managing the battery's temperature, power electronics, and electric motors. In addition, governments of emerging countries globally implement stringent emissions regulations and offer incentives for EVs; automakers are propelling the development of electric vehicles, which further accelerates the adoption rate of electric coolant pumps. Furthermore, the developing infrastructure for EVs, including charging stations, also supports the adoption of EVs, boosting the demand for advanced cooling technologies. This trend will continue as EV sales increase and consumers seek energy-efficient and eco-friendly alternatives to traditional vehicles. Furthermore, companies in the market are starting and increasing the production of electric coolant systems to address the rising demand for electric vehicles and contribute to net zero carbon emissions.
For instance, in December 2024, Schaeffler Group held an event to announce that its integrated coolant system has exceeded a monthly production capacity of 10,000 units and its high-power water pump for range-extended electric vehicle cooling systems to ensure optimal vehicle performance and in-cabin experience.
Growing Adoption of Electrified Powertrains in Commercial Vehicles Drive Global Market Growth
The rising shift towards electrification is not restricted to passenger cars but is also attaining momentum in commercial vehicles. Commercial vehicles typically operate in demanding conditions, requiring efficient and robust cooling systems to maintain optimal performance over long distances and in heavy-duty applications. Additionally, innovations in autonomous vehicle technology, which often involves electrified powertrains, are projected to further surge requirements for high-performance electric coolant pumps in the commercial sector. Furthermore, the demand for cost-effective and energy-efficient thermal systems increases as more commercial vehicles transition to hybrid and electric powertrains. The electric coolant pumps play an important role in maintaining optimal engine temperature, safeguarding overheating, and improving fuel effectiveness by regulating coolant flow independently of engine speed. Also, the shift towards electrified powertrains, along with strict rules and regulations concerning carbon emission, is driving the global electric coolant pump market demand in the forecast period. Not only this, but companies in the market are also advancing cooling systems to offer an overall better driving experience and expand their customer base.
For instance, in September 2023, DENSO Corporation announced the development of "Everycool," an advanced cooling system that offers energy effectiveness and comfort when a commercial vehicle's engine is off.
Electric Vehicles Dominate the Global Electric Coolant Pump Market
The electric vehicle segment is registering the largest global electric coolant pump market share, owing to a significant rise in the adoption of electric and hybrid vehicles. The governments of emerging countries are framing policies concerning net zero carbon emission, shifting automakers towards electrified powertrains, which further surges the demand for efficient thermal management systems. Electric coolant pumps play an important role in maintaining optimal engine temperatures, preventing overheating, and enhancing fuel effectiveness by regulating coolant flow automatically at engine speed. This technology is common in electric and hybrid vehicles, confirming the longevity and high performance of components, including motors and batteries. With the significant surge in the production of electric vehicles and ongoing technological advancements in automotive technology, the EV segment is estimated to maintain its dominance in the global electric coolant pump market in the forecast period. At the same time, companies in the market are increasing the production of coolant pumps due to the growing production of electric vehicles and expanding market product portfolio.
For instance, in July 2024, MAHLE GmbH started the mass delivery of a 24V/480W electric cooling water pump to a world-leading commercial vehicle producer for the effective usage of battery electric heavy-duty trucks.
Asia-Pacific Holds the Largest Market Share Globally
Asia-Pacific dominates the global electric coolant pump market, driven by its robust automotive industry and rapid adoption of electric and hybrid vehicles. Countries like China, Japan, and South Korea are at the forefront of EV production, supported by government policies promoting clean energy and emission reductions. These countries' high vehicle production rates create a strong demand for efficient thermal management systems, including electric coolant pumps. Additionally, technological advancements and investments in EV infrastructure further bolster the market growth in the region. The Asia-Pacific market is expected to continue its dominance due to these factors, along with the increasing focus on sustainability and energy efficiency. In addition, companies in the market are introducing innovative designs with proven durability, which benefit them in generating high profits and receiving awards from the government and entities in the Asia-Pacific region.
For instance, in November 2023, Concentric AB announced that they won an important electric coolant pump nomination from a leading commercial vehicle original equipment manufacturer in India. Also, they believe that this nomination will be the grounds for a long-term commercial relationship with the market player, who is developing battery fuel cells and electric-powered bus platforms.
Future Market Scenario (2025-2032F)
The increasing adoption of EVs and hybrid vehicles necessitates efficient thermal management systems, boosting the demand for electric coolant pumps.
Innovations in electric coolant pump design, such as variable speed control and integration with vehicle electronic systems, improve fuel efficiency and reduce energy consumption.
Rapid industrial growth in regions like Asia-Pacific, particularly in China, Japan, and South Korea, is contributing to the market's expansion.
Many governments are offering incentives for EV adoption and investing in EV infrastructure, further promoting the demand for electric coolant pumps.
Key Players Landscape and Outlook
Companies in the global electric coolant pump market are expanding their market portfolios by investing in advanced technologies and forming strategic partnerships. Key players are focusing on developing innovative electric coolant pumps that cater to the diverse needs of the automotive industry. By integrating cutting-edge technologies such as smart controls and IoT connectivity, these companies enhance the performance and efficiency of their products. Collaborations with local and international partners enable them to innovate and introduce new features, ensuring they stay ahead of market trends. Additionally, active participation in government initiatives and compliance with stringent emissions regulations help solidify their market presence. These efforts collectively contribute to their market growth and competitiveness.
All segments will be provided for all regions and countries covered
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.