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Historical Year
Forecast Year
The global market for electric coolant pump is expected to grow in the forecast period of 2024-2032 at a CAGR of 14.1%. Improvements in the automotive electric pump system are one of the key factors driving the global market growth.
Global Electric Coolant Pump Market Report Summary | Description | Value |
Base Year | USD Million | 2023 |
Historical Period | USD Million | 2018-2023 |
Forecast Period | USD Million | 2024-2032 |
Market Size 2023 | USD Million | XX |
Market Size 2032 | USD Million | XX |
CAGR 2018-2023 | Percentage | XX% |
CAGR 2024-2032 | Percentage | 14.1% |
CAGR 2024-2032 - Market by Region | Asia Pacific | 18.2% |
CAGR 2024-2032 - Market by Country | India | 20.9% |
CAGR 2024-2032 - Market by Country | Saudi Arabia | 16.0% |
CAGR 2024-2032 - Market by Type | Hybrid and Electric Powertrain | 15.8% |
Market Share by Country 2023 | Canada | 2.4% |
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The growth of the electric coolant pump market is driven by the fast-changing innovations and dynamic automotive industry. The industry is aided by the mechanical parts being replaced by electronic components due to the ongoing advanced technology in the automotive industry. The growing need to reduce emissions from vehicles is pushing manufacturers to develop powertrain components with advanced technologies. Rapid electrification of mechanical components will, therefore, boost the development of the passenger cars segment in the market for electric coolant pumps.
Stringent government regulations pushing the automakers to readily adopt electric coolant pumps in their vehicles is a crucial trend in electric coolant pump market, which prevents the overheating of the vehicle.
As per the electric coolant pump market dynamics and trends, Rheinmetall announced in June 2024 that it had received an order for millions of electric coolant pumps from an international vehicle manufacturer. These pumps are expected to be utilised for the production of hybrid-powered vehicles.
According to the electric coolant pump industry analysis, the overall sales of EVs reached around 10 million in 2022, a staggering growth of 55% from the previous year. By the year 2025, around 25% of all passenger car registrations are expected to be EVs, with the sale of a total of 17 million units. As per the data from 2023, around 10 million EVs are on the road. The USA witnessed record sales of 918,500 light electric vehicles in 2022, whereas China was projected to be the biggest market for EVs, with around 40% of its total vehicle sales being EVs by 2030.
As per the industry reports from India in 2024, the total EV sales in India was 16,83,600 from May 2023 to April 2024. The EV sales in March were 139,288 units in March 2024 and 65,057 units in April 2024. The sales of EVs were 111,355 units in April 2023 and 158,459 units in May 2023. In June 2023 that number went down to 102,639 units, followed by a slight increase in July 2023 at 116,628 units. The rise and fall trend continued in January 2024 with total sales of 144,397 units, followed by sales of 141,510 units. This showcases a growing interest in EVs in the country, fuelling the growth of the electric coolant pump industry.
Furthermore, market players are readily investing in projects aimed at boosting the production of EVs and hybrid cars. For instance, the Maharashtra government of India signed a Memorandum of Understanding (MoU) with Toyota Kirloskar for the greenfield project. The aim of this project is to produce electric and hybrid cars and boost the growth of the EV sector in the Maharashtrian state of India. This initiative is further expected to boost the demand for electric coolants and eventually electric coolant pump industry revenue.
The global market is highly competitive, dominated by major players like Robert Bosch GmbH, Continental AG, Denso Corporation, and Mahle GmbH. Each company employs distinct strategies to maintain and expand its market presence, contributing to a dynamic and challenging market environment.
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An electric coolant pump is a type of pump used to recirculate a coolant, usually a liquid, that is used to transmit heat away from an engine or other devices that generate heat as a by-product of producing energy.
The electric coolant pump industry can be broadly categorised based on the powertrain type into:
The EMR report looks into the regional markets of electric coolant pump like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
CAGR 2024-2032 - Market by | Country |
India | 20.9% |
Saudi Arabia | 16.0% |
Australia | 12.4% |
Japan | 10.9% |
USA | XX% |
Canada | XX% |
UK | XX% |
Germany | XX% |
France | XX% |
Italy | XX% |
China | XX% |
Brazil | XX% |
Mexico | XX% |
The report presents a detailed analysis of the following key players in the global electric coolant pump industry, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
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The Asia Pacific is expected to account for a major electric coolant pump industry share due to the rise of the automotive sector in India. Furthermore, the rising production of EV vehicles in China and Japan is expected to contribute to market growth.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Powertrain Type |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
Electric Coolant Pump Market Size
Electric Coolant Pump Market Growth
Electric Coolant Pump Market Trends
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market is projected to grow at a CAGR of 14.1% between 2023 and 2032.
The major drivers of the global electric coolant pump market include rising urbanisation and industrialisation, fast-changing innovations, and the dynamic automotive industry.
Mechanical parts being replaced by electronic components due to ongoing advancements in technology in the automotive industry are the key trends propelling the growth of the market.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Hybrid and electric powertrain, and ICE powertrain are the two dominant powertrain types of electric coolant pump in the global electric coolant pump market.
The major players in the market are MAHLE GmbH, Johnson Electric Holdings Limited , Robert Bosch GmbH, VOVYO Technology Co., Ltd, Rheinmetall AG, Hanon Systems, Continental AG, Aisin Seiki Co. Ltd., Others.
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