Market Leader - Electric Coolant Pump Market
The global electric coolant pump market for electric vehicles is projected to reach USD 662 million by 2027 from an estimated USD 227 million in 2020 at a CAGR of 16.5% during the forecast period. The base year for the report is 2019, and the forecast period is from 2020 to 2027.
The electric coolant pump market is expected to witness rapid growth with the implementation of stringent emission norms globally to comply with the carbon limits. Also, the growing popularity of electric coolant pumps in ICE for auxiliary purposes is expected to bolster its production globally. As turbocharged engines are equipped with electric coolant pumps for better cooling performance, increasing sales of these turbocharged vehicles are expected to fuel its market in the forecast period. Also, growing sales of electric vehicles with multiple electric coolant pumps for better vehicle performance is expected to drive its demand. Attractive government incentives to popularize electromobility and develop a robust charging infrastructure is considered to be a crucial factor for this market. Increasing sales of 48V vehicle architecture, developments in high power output electric coolant pumps is anticipated to propel this market in the future.
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The electric coolant pump market is lead by globally established players such as Rheinmetall Automotive AG(Germany), Robert Bosch GmbH (Germany), Aisin Seiki Co., Ltd. (Japan), Continental AG (Germany), and MAHLE GmbH (Germany). These companies are also moving towards electrified powertrain components and adhere to strategies such as new product developments and strategic expansions through collaborations, partnerships, and mergers & acquisitions to gain traction in the growing demand for electric coolant pumps globally.
Rheinmetall Automotive AG is one of the key players in the electric coolant pump market, supplying electric coolant pumps for pure electric, hybrid and 48V vehicles. Moreover, the company offers diversified electric coolant pumps for small, medium, and high performance applications. The company reported several supply contacts from 2018-2020 from various OEMs. For instance, in January 2020, Rheinmetall Automotive was awarded a mega-contract by a renowned international carmaker to supply pumps for electric vehicles over a total period of eight years. Through its Chinese joint venture, Pierburg Huayu Pump Technology Co., Ltd., Rheinmetall Automotive will supply two versions of its electric water recirculation pump (WUP) with a total lifetime value of USD 145 million.
Robert Bosch GmbH is another key player in the electric coolant pump market. The company provides electric coolant pumps for ICE vehicles and electric vehicles under the mobility solutions segment. The company reported a new electric coolant pump launch, ECP 160 in February 2019. The ECP 160 is designed to replace mechanical pumps in combustion engines but can operate in other applications like batteries, electric motor, or inverter cooling, as well. The company’s strong foothold in around 60 countries and an intense sales network, allows them to cater to regional demands.
Related Reports:
Electric Coolant Pump Market by Type (Sealed, Sealless), Sealless (Electrical, Magnetic), Power Output (<100W, >100W), Vehicle Type (PV, 48V, CV, BEV, PHEV), Communication Interface (LIN, CAN, PWM), Application and Region - Global Forecast to 2027
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