Automotive Coolant Pump Market Size on Track to Surpass USD 2.6 Billion by 2034 at a moderate CAGR of 4% | Analysis by Transparency Market Research, Inc.

Increasing fuel efficiency and sustainability are driving improvements in the automotive coolant pump market. Focus on lightweight materials and optimized designs to drive automotive coolant pump demand.

/EIN News/ -- Wilmington, Delaware, United States, Transparency Market Research, Inc., July 17, 2024 (GLOBE NEWSWIRE) -- A report from 2023 stated that automotive coolant pumps market (자동차 냉각수 펌프 시장) generated US$1.7 billion. A CAGR of 4.0% is projected from 2024 to 2034, reaching US$ 2.6 billion. Fuel economy and environmental concerns have become increasingly important in recent years. As coolant pumps improve, they will use less energy and perform better, which will enhance vehicle performance.

In the future, as more cars switch to electric drivetrains, cooling pumps could be modified to better accommodate EVs' unique requirements, such as improving cooling for batteries and motors. Sensors and networking capabilities may allow real-time monitoring and optimization of coolant pump performance, resulting in improved vehicle reliability and maintenance.

An advancement in materials science and engineering could result in more durable, corrosion-resistant, and more reliable coolant pump components, enhancing the dependability and longevity of the pump. Enhanced thermal management systems, such as active grille shutters, variable airflow control, and other technologies, may be used in the future with coolant pumps to maximize vehicle cooling and heating efficiency.

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As the automotive industry investigates alternative fuels such as biofuels and hydrogen, coolant pump designs may have to be modified to accommodate their unique requirements and thermal properties.

Key Findings of the Market Report

• Coolant pumps powered by electric motors accounted for the largest share of the market in 2023
• As of 2023, Asia Pacific led the market for automotive coolant pumps in the market.
• In terms of fuel type, the electric segment is likely to dominate the market in the coming years.
• Based on coolant type, propylene glycol is a major driver of automotive coolant pump demand.
• A high share of the automotive coolant pump market will likely be sold through OEM channels.

Global Automotive Coolant Pump Market

• The market growth for coolant pumps is driven primarily by the popularity of electric and hybrid electric vehicles (HEVs).  For electric drivetrains to meet strict emissions regulations and comply with stringent environmental regulations, effective cooling systems, such as coolant pumps, are becoming increasingly important.
• Coolant pumps have become increasingly popular among electric vehicles since they are required to maintain optimal temperatures for their batteries, motors, and power electronics. In order to achieve this, thermal control must be effective.
• Automobile cooling system coolant pumps are also being impacted by stricter regulations relating to vehicle emissions and fuel efficiency. The automotive industry is under increasing pressure to improve the fuel efficiency of its vehicles and meet more stringent emission standards.
• In order to reduce vehicle emissions and enhance overall performance, coolant pump solutions that are energy- and environmentally friendly are becoming increasingly important.
• By addressing environmental concerns, and meeting the changing needs of the automotive industry, the present regulatory structure encourages research and development spending on coolant pump technology.

Global Automotive Coolant Pump Market: Regional Landscape

• As the automotive sector expands in Asia Pacific, the market for coolant pumps for automobiles is expected to grow rapidly. China, India, and Japan are leading the world in auto production, leading to an increase in coolant pump demand.
• The shift from gasoline-powered vehicles to hybrids and electric vehicles (HEVs) in Asia Pacific is also increasing the need for advanced coolant pump technology. In electric vehicles and hybrid electric vehicles, the demand for efficient cooling systems has prompted an endless supply of innovative coolant pump solutions being developed to regulate battery temperatures.
• China and India, which have strict emissions regulations, are driving investments in automobile thermal management systems, which include coolant pumps.
• Automobile manufacturers are focusing on creating energy- and environmentally-efficient cooling systems to meet pollution regulations in the region and meet the increasing demand for automobiles in the region.

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Global Automotive Coolant Pump Market: Competitive Landscape
New product launches and inorganic expansion are key strategies used by manufacturers of automotive coolant pumps (자동차 냉각수 펌프) to strengthen their market position. 

As a result of efforts to reduce the amount of carbon emissions and energy consumption, the key players in the automotive coolant pump market are focusing on producing motor pumps that are small and medium in size.

As part of the project, they are also designing electric coolant pumps with sensors, regulators, and intelligent controllers. Space-efficient and compact design is the basic objective of the coolant pump.

Key Players Profiled

• Aisin Corporation
• Cascon Inc.
• Continental Automotive Japan
• Davies Craig
• GMB Corporation Japan
• John Electric
• MAHLE Japan Ltd.
• Osaka Vacuum Ltd.
• Robert Bosch GmbH
• TERAL Inc.
• TBK Co. Ltd.
• Hanon Systems
• KSPG Automotive
• Hitachi Astemo, Ltd.
• Shenzhen Zhongke Century Technology Co. Ltd.

Key Developments

• John Electric introduces a new generation of coolant pumps featuring advanced variable speed control. In addition to maximizing thermal management and improving energy efficiency, these new pumps are also designed to meet the needs of electric and hybrid vehicles (HEVs).
• MAHLE Japan Ltd. has developed a new generation of coolant pumps that utilizes state-of-the-art materials and production techniques for increased performance and reliability. Lightweight and compact in design, the new pump is durable and provides excellent cooling, making it an excellent choice for automakers.

Global Automotive Coolant Pump Market: Segmentation
Type

• Mechanical Coolant Pump
• Electric Coolant Pump

Size

• Full-size
• Mid-size
• Compact-size

Fuel Type

• Conventional Fuel
• Electric
• Hybrid

Coolant Type

• Water (Purified or Deionized)
• Ethylene Glycol
• Propylene Glycol
• Mineral Oil
• Dielectric Fluids
• Others

Power

• Less than 50 W
• 50-100 W
• 100-400 W
• More than 400 W

Vehicle Type

• Two Wheelers
• Three Wheelers
• Passenger Vehicles

• Hatchback
• Sedan
• SUVs

• Light Commercial Vehicles
• Heavy Duty Trucks
• Buses & Coaches
• Off-road Vehicles

• Agriculture Tractors & Equipment
• Construction & Mining Equipment

Electric Vehicle Type

• Battery Electric Vehicles
• Hybrid/Plug-in Hybrid Electric Vehicles
• Fuel Cell Electric Vehicles

Sales Channel

• OEM
• Aftermarket

Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America

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