According to our latest market study on "Electric Coolant Pump Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Application, Power, Vehicle Type, Propulsion Type, and Pump Type," the electric coolant pump market is projected to grow from US$ 467.46 million in 2022 to US$ 1,188.28 million by 2028; it is estimated to grow at a CAGR of 16.8% from 2022 to 2028.
Integration of Innovative Features in electric coolant pumps developments in integrating the coolant pumps with add-on featured devices and components are augmenting the sale of electric coolant pumps. Robert Bosch GmbH has a large number of product offerings under electric coolant pumps. Their PCE coolant pump is an electric centrifugal pump. Its speed can be controlled via a pulse width modulation (PWM) or a local interconnect network (LIN) interface. Also the PCE coolant pump offers 30,000 hours operation time, permits to use in hybrid and electric vehicles. Robert Bosch GmbH also provides PAD2 electric coolant pumps for supporting the heater circuit, residual heat utilization, and component cooling for turbochargers and charge air coolers.
MAHLE GmbH has introduced a 12V pump capable of consuming up to 800 watts of electrical power and a 24V pump capable of consuming up to 1 kilowatt (kW) of electric power. Furthermore, MAHLE GmbH provides a brushless electric motor and a bearing concept that ensures maintenance-free operation with high reliability. The company also offers directly cooled electronics, which enable maximum power utilization. The demand for electric coolant pumps is being strengthened by technological advancements in the field. For example, Pierburg developed a three-phase sensorless commutated water circulation pump in December 2019 for use in electric vehicles, which operates at a very low level of noise emission.
The development in ceramic seal material is also posing a potential opportunity for the electric coolant pump market. The ceramic material is used to make ceramic mechanical seals offering improved mechanical, thermal, and electrical characteristics than other materials.
Supportive government regulations make the UK a potentially lucrative market for electric vehicles. The government's efforts play a vital role in boosting EV sales in the country. In early 2022, the UK government introduced the Net Zero Hydrogen Fund, with an investment of approximately US$ 271.94 million, to support early hydrogen production projects. Furthermore, government initiatives to promote EV sales are driving market growth. For example, the UK government provides subsidies of 20.0-25.0% for EVs, which creates significant growth opportunities for manufacturers of electric coolant pumps. Additionally, the UK government is investing approximately US$ 135.95 million in the 'Zero Emission Bus Regional Areas scheme,' which aims to deliver 4,000 new zero-emissions buses, either hydrogen or electric, along with supporting infrastructure. Starting in 2023, the highest-selling EV models in the UK, such as the Nissan Leaf and Honda E, will feature an active liquid cooling system, further promoting the adoption of electric coolant pumps in EVs and bolstering market growth in the country.
The electric coolant pump market report provides a detailed market analysis to help key players strategize their growth in the coming years. It also forecasts the upcoming trends and developments in the electric coolant pump market.
Key Findings of Study:
This electric coolant pump market study primarily focuses on five segments-application, power, vehicle type, propulsion type, and pump type. In terms of application, the electric coolant pump market is segmented into engine cooling and HVAC, battery and power electronics cooling, and gearbox cooling. Based on power, the electric coolant pump market is categorized into below 100 W and above 100 W. Based on vehicle type, the electric coolant pump market is divided into passenger cars, light commercial vehicles, and heavy commercial vehicles. In terms of propulsion type, the electric coolant pump market is segmented into ICE, electric, and hybrid. Based on pump type, the electric coolant pump market is divided into with ECU and without ECU.
The adoption of electric vehicles, advanced driver assistance systems (ADAS), and the demand for self-driving and autonomous vehicles drive the demand for electric coolant pumps in Russia. It is projected that by 2030, half of the cars sold in the country will be electrified. The presence of major automobile and component manufacturers is also contributing to the growth of Russia's electric coolant pump market. Luxury car brands such as Rolls Royce, Jaguar, and Land Rover are among the big players present in the country. Furthermore, the growing demand for e-thermal and e-transmission fluids is also driving Russia's electric coolant pump market.
European automakers are increasingly using electric coolants and e-thermal fluids in their internal combustion engines (ICEs) and electric vehicles (EVs), owing to a growing number of innovations in e-thermal fluids with a focus on liquid cooling. The Audi eTron, Tesla Model S, and BMW i3 were among the first vehicles to use advanced electric coolants and e-thermal fluids. Electric coolant pumps, being compact in size and having fewer moving parts, save space and reduce friction. Moreover, these pumps help control pressurized flow and maintain fuel power efficiencies, which further encourage European automakers to adopt these coolants.
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