The report on the global electric water circulation pump for electric vehicle market provides qualitative and quantitative analysis for the period from 2021-2030. The global electric water circulation pump for electric vehicle market was valued at USD 513.56 million in 2022 and is expected to reach USD 1770.73 million in 2030, with a CAGR of 16.90% during the forecast period 2023-2030. The study on electric water circulation pump for electric vehicle market covers the analysis of the leading geographies such as North America, Europe, Asia Pacific, and RoW for the period of 2021-2030.
Electric water circulation pumps are crucial components in Electric Vehicles (EVs) as they help to regulate the temperature of the battery pack and prevent overheating, which can damage the battery cells and reduce their lifespan. These pumps are powered by the EV's primary battery pack and are controlled by the vehicle's Battery Management System (BMS). The BMS continuously monitors the temperature of the battery pack and adjusts the pump's speed accordingly to maintain a consistent temperature range. These pumps are compact, efficient, and reliable, making them an ideal choice for use in electric cars, trucks, buses, and other EVs. They are typically integrated into the vehicle's cooling system to simplify the installation process. Overall, the electric water circulation pump plays a vital role in ensuring the health and performance of an EV's battery pack, thereby contributing to the safe and efficient operation of the vehicle.
Based on Type, the Electric water circulation pump for the electric vehicle Market is segmented into a Variable coolant pump, Centrifugal pump, Positive displacement pump, and Axial flow pump. Among these, the Variable coolant pump segment holds a significant market share in the Electric water circulation pump for the electric vehicle Market. A variable coolant pump is a type of electric water circulation pump that is commonly used in automotive applications, particularly in electric and hybrid electric vehicles. The pump is responsible for circulating coolant through the engine, electric motor, and battery system to regulate their temperature and prevent overheating. The main advantage of a variable coolant pump is that it can adjust its flow rate and power consumption based on the cooling requirements of the system, which helps to reduce energy consumption and improve overall system efficiency. This is achieved through the use of an electronically controlled motor that can vary the pump speed and flow rate as needed. Variable coolant pumps are also designed to be lightweight, compact, and durable, making them well-suited for use in modern vehicles. They can help to improve fuel efficiency and reduce emissions, while also enhancing the overall performance and reliability of the vehicle's cooling system. Overall, variable coolant pumps play a critical role in ensuring the proper operation and longevity of automotive powertrains and battery systems, particularly in the context of electric and hybrid electric vehicles.
The North America market for electric water circulation pumps in electric vehicles is anticipated to be significant, driven by the region's increasing adoption of electric vehicles and the presence of major electric vehicle manufacturers. With the United States being one of the largest markets for electric vehicles globally, the demand for electric water circulation pumps is expected to grow in parallel. The dominance of the United States in the market is attributed to its strong automotive industry and the presence of major electric vehicles manufacturers such as Tesla, General Motors, and Ford. Furthermore, the government's introduction of various initiatives and subsidies to encourage electric vehicle adoption is expected to further propel the market's growth. In addition, Canada is also expected to contribute to the market growth due to the country's increasing adoption of electric vehicles. The Canadian government has set a target to sell only zero-emission vehicles by 2040, which is anticipated to further drive the demand for electric water circulation pumps in the country.
1. Key Opinion Leaders
2. Internal and External subject matter experts
3. Professionals and participants from the industry
2. Product/brand/marketing managers
3. CXO level executives
4. Regional/zonal/country managers
5. Vice President level executives.
2. Government/institutional publications
3. Trade and associations journals
4. Databases such as WTO, OECD, World Bank, and among others.
5. Websites and publications by research agencies
2. Complete coverage of all the segments in the electric water circulation pump for electric vehicle market to analyze the trends, developments in the global market and forecast of market size up to 2030.
3. Comprehensive analysis of the companies operating in the global electric water circulation pump for electric vehicle market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.
4. Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
Electric water circulation pumps are crucial components in Electric Vehicles (EVs) as they help to regulate the temperature of the battery pack and prevent overheating, which can damage the battery cells and reduce their lifespan. These pumps are powered by the EV's primary battery pack and are controlled by the vehicle's Battery Management System (BMS). The BMS continuously monitors the temperature of the battery pack and adjusts the pump's speed accordingly to maintain a consistent temperature range. These pumps are compact, efficient, and reliable, making them an ideal choice for use in electric cars, trucks, buses, and other EVs. They are typically integrated into the vehicle's cooling system to simplify the installation process. Overall, the electric water circulation pump plays a vital role in ensuring the health and performance of an EV's battery pack, thereby contributing to the safe and efficient operation of the vehicle.
Based on Type, the Electric water circulation pump for the electric vehicle Market is segmented into a Variable coolant pump, Centrifugal pump, Positive displacement pump, and Axial flow pump. Among these, the Variable coolant pump segment holds a significant market share in the Electric water circulation pump for the electric vehicle Market. A variable coolant pump is a type of electric water circulation pump that is commonly used in automotive applications, particularly in electric and hybrid electric vehicles. The pump is responsible for circulating coolant through the engine, electric motor, and battery system to regulate their temperature and prevent overheating. The main advantage of a variable coolant pump is that it can adjust its flow rate and power consumption based on the cooling requirements of the system, which helps to reduce energy consumption and improve overall system efficiency. This is achieved through the use of an electronically controlled motor that can vary the pump speed and flow rate as needed. Variable coolant pumps are also designed to be lightweight, compact, and durable, making them well-suited for use in modern vehicles. They can help to improve fuel efficiency and reduce emissions, while also enhancing the overall performance and reliability of the vehicle's cooling system. Overall, variable coolant pumps play a critical role in ensuring the proper operation and longevity of automotive powertrains and battery systems, particularly in the context of electric and hybrid electric vehicles.
The North America market for electric water circulation pumps in electric vehicles is anticipated to be significant, driven by the region's increasing adoption of electric vehicles and the presence of major electric vehicle manufacturers. With the United States being one of the largest markets for electric vehicles globally, the demand for electric water circulation pumps is expected to grow in parallel. The dominance of the United States in the market is attributed to its strong automotive industry and the presence of major electric vehicles manufacturers such as Tesla, General Motors, and Ford. Furthermore, the government's introduction of various initiatives and subsidies to encourage electric vehicle adoption is expected to further propel the market's growth. In addition, Canada is also expected to contribute to the market growth due to the country's increasing adoption of electric vehicles. The Canadian government has set a target to sell only zero-emission vehicles by 2040, which is anticipated to further drive the demand for electric water circulation pumps in the country.
Report Findings
1) Drivers
- The rising popularity of EVS is driving the growth of the market.
- The increasing popularity of engine downsizing propels market growth.
2) Restraints
- The high cost of electrifying automotive pumps hampers the market growth.
3) Opportunities
- Increasing focus on the advancement of the product is providing growth opportunities for the market.
Research Methodology
A) Primary Research
The primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents, the primary respondents are approached include1. Key Opinion Leaders
2. Internal and External subject matter experts
3. Professionals and participants from the industry
The primary research respondents typically include
1. Executives working with leading companies in the market under review2. Product/brand/marketing managers
3. CXO level executives
4. Regional/zonal/country managers
5. Vice President level executives.
B) Secondary Research
Secondary research involves extensive exploring through the secondary sources of information available in both the public domain and paid sources. Each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources.The secondary sources of the data typically include
1. Company reports and publications2. Government/institutional publications
3. Trade and associations journals
4. Databases such as WTO, OECD, World Bank, and among others.
5. Websites and publications by research agencies
Segment Covered
The global electric water circulation pump for electric vehicle market is segmented on the basis of voltage type, type, and application.The Global Electric Water Circulation Pump for Electric Vehicle Market by Voltage Type
- 12V Electric Water Circulation Pump (WUP)
- 24V Electric Water Circulation Pump (WUP)
The Global Electric Water Circulation Pump for Electric Vehicle Market by Type
- Variable Coolant Pump
- Centrifugal Pump
- Positive Displacement Pump
- Axial Flow Pump
The Global Electric Water Circulation Pump for Electric Vehicle Market by Application
- Battery Electric Vehicles (BEVs)
- Plug-in Hybrid Electric Vehicles (PHEVs)
- Off-highway Electric Vehicles (OHEVs)
Company Profiles
The companies covered in the report include
- Hitachi, Ltd.
- Continental AG
- Rheinmetall AG
- Hanon Systems
- Bühler Motor GmbH
- Johnson Electric Holdings Limited
- Valeo
- Yinlun Co., Ltd.
- Gates Corporation
- Others
What does this Report Deliver?
1. Comprehensive analysis of the global as well as regional markets of the electric water circulation pump for electric vehicle market.2. Complete coverage of all the segments in the electric water circulation pump for electric vehicle market to analyze the trends, developments in the global market and forecast of market size up to 2030.
3. Comprehensive analysis of the companies operating in the global electric water circulation pump for electric vehicle market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.
4. Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
Table of Contents
Chapter 1. Preface
Chapter 2. Executive Summary
Chapter 3. Global Electric Water Circulation Pump for Electric Vehicle Market Overview
Chapter 5. Company Profiles and Competitive Landscape
Chapter 6. Global Electric Water Circulation Pump for Electric Vehicle Market by Voltage Type
Chapter 7. Global Electric Water Circulation Pump for Electric Vehicle Market by Type
Chapter 8. Global Electric Water Circulation Pump for Electric Vehicle Market by Application
Chapter 9. Global Electric Water Circulation Pump for Electric Vehicle Market by Region 2023-2030
Companies Mentioned
- Hitachi, Ltd.
- Continental AG
- Rheinmetall AG
- Hanon Systems
- Bühler Motor GmbH
- Johnson Electric Holdings Limited
- Valeo
- Yinlun Co., Ltd.
- Gates Corporation
