DUBLIN--(BUSINESS WIRE)--The "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" report has been added to ResearchAndMarkets.com's offering.
The global electric coolant pump market size 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%.
As electric coolant pumps help to reduce emissions, the implementation of strict emission norms across all regions globally is expected to drive the electric coolant pump industry growth significantly. For instance, the introduction of Euro VI, China VI has pushed automakers to employ fuel-efficient technologies such as electric coolant pumps in their vehicles. However, relatively high costs and maintenance can hinder the overall market growth.
The sealless pump type is expected to remain the largest and fastest market by type.
OEMs increasingly prefer sealless pumps over sealed pumps in electric vehicles. Numerous technical benefits, including negligible leakage and better efficiency offered by sealless pumps, have been the major factors driving their popularity. Also, since electric vehicles operate at lower temperatures than ICE vehicles, sealless pumps are a suitable option for electric vehicles. Thus, with increasing sales of electric vehicles, the sealless pump market is expected to gain momentum in the future. Additionally, continuous research and developments in sealless pump technology are also anticipated to drive its growth.
Up to 100W is expected to remain the largest electric coolant pump market, by power output.
Up to100W electric coolant pumps are mainly used for auxiliary cooling purposes. Various auxiliary coolant pumps are employed in electric vehicles for various purposes, such as DC-DC converters, power electronics cooling, etc. In electric vehicles, electric coolant pumps are often used in larger numbers for auxiliary purposes. This factor indicates that the up to 100W pumps segment is expected to hold a larger volume market than the >100W pumps. Thus, growing sales of electric vehicles are expected to drive the market in the future.
Asia Pacific market is expected to register the largest and fastest growth during the forecast period.
The shifting momentum towards electric cars is expected to drive the electric coolant pump market primarily. Stringent emission norms such as China 6a, BS-VI norms are expected to propel the electric coolant pump sales in the future. Respective governments are also rolling out attractive policies and schemes to popularize electromobility, which will eventually drive the electric coolant pump market. Manufacturers are focusing their R&D activities on developing robust, diversified electric cars, which will boost the demand for electric coolant pumps in the region. The growing demand for electric cars has also prompted OEMs to increase strategic collaborations/partnerships between them and electric coolant pump manufacturers. Therefore, the region is expected to register an evident growth in the forecast period.
- Technical Benefits of Electric Coolant Pumps Over Mechanical Pumps
- Stringent Emission Norms Anticipated to Bolster the Demand for Electric Coolant Pumps
- Increasing Sales of Turbocharged Engines
- Relatively High Cost and Maintenance of Electric Coolant Pumps
- Development of Advanced Electric Coolant Pump Technologies and Strategic Partnerships/Collaborations Between Oems
- Developments in Ceramic Seal Materials
- Unreliability of Electric Coolant Pumps
- Rheinmetall Automotive Ag
- Robert Bosch Gmbh
- Aisin Seiki Co., Ltd.
- Continental Ag
- Mahle Gmbh
- Denso Corporation
- Johnson Electric Holdings Limited
- Hanon Systems
- Industrie Saleri Italo S.P.A
- Concentric Ab
- Sanhua Automotive
- Grayson Thermal Systems
- Bhler Motor Gmbh
- Vovyo Technology Co., Ltd.
- Avid Technology Limited
- Hitachi Automotive Systems Americas, Inc.
- Jtekt Corporation
- Gmb Corporation
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