The Global Automotive Electric Coolant Valve Market size is expected to reach $9.3 billion by 2031, rising at a market growth of 8.3% CAGR during the forecast period. In the year 2023, the market attained a volume of 62,618.8 thousand units, experiencing a growth of 20.1% (2020-2023).
CAN-enabled electric coolant valves support diagnostic functionalities, allowing vehicle systems to monitor valve operation, detect faults or malfunctions, and provide diagnostic trouble codes (DTCs) for troubleshooting purposes. Thus, the controller area network (CAN) segment acquired $1,669.4 million in 2023. Also, the US market would utilize 580.3 thousand units of CAN-enabled electric coolant valves in Automotive Electric Coolant Valve by 2031.
Electric coolant valves enhance cabin comfort by maintaining optimal interior temperatures, regardless of external weather conditions. In regions with extreme climates, efficient thermal management is essential to provide occupants with a comfortable driving experience. Therefore, the market is expanding significantly due to rising consumer awareness and demand for comfort features.
Additionally, Electric coolant valves can be integrated with engine control systems and vehicle powertrain management systems to optimize thermal management in real-time. Thus, because of the increase in emission norms and fuel efficiency standards, the market is anticipated to increase significantly.
However, High initial investment costs may deter automakers from integrating electric coolant valves into their vehicles, especially if they perceive existing cooling solutions as sufficient or more cost-effective. Automakers may prioritize cost reduction and risk mitigation over adopting new technologies, leading to limited market penetration for electric coolant valves. Thus, high initial investment costs can slow down the growth of the market.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.
CAN-enabled electric coolant valves support diagnostic functionalities, allowing vehicle systems to monitor valve operation, detect faults or malfunctions, and provide diagnostic trouble codes (DTCs) for troubleshooting purposes. Thus, the controller area network (CAN) segment acquired $1,669.4 million in 2023. Also, the US market would utilize 580.3 thousand units of CAN-enabled electric coolant valves in Automotive Electric Coolant Valve by 2031.
Electric coolant valves enhance cabin comfort by maintaining optimal interior temperatures, regardless of external weather conditions. In regions with extreme climates, efficient thermal management is essential to provide occupants with a comfortable driving experience. Therefore, the market is expanding significantly due to rising consumer awareness and demand for comfort features.
Additionally, Electric coolant valves can be integrated with engine control systems and vehicle powertrain management systems to optimize thermal management in real-time. Thus, because of the increase in emission norms and fuel efficiency standards, the market is anticipated to increase significantly.
However, High initial investment costs may deter automakers from integrating electric coolant valves into their vehicles, especially if they perceive existing cooling solutions as sufficient or more cost-effective. Automakers may prioritize cost reduction and risk mitigation over adopting new technologies, leading to limited market penetration for electric coolant valves. Thus, high initial investment costs can slow down the growth of the market.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.
By Voltage Analysis
By voltage, the market is categorized into 12V and 24V. In 2023, the 12V segment held 64.2% revenue share in the market. In terms of volume, the 12V segment would utilize 89,673.5 thousand units of automotive electric coolant valve by 2031. One of the primary uses of 12V segment drive electric coolant valves is in the engine cooling system of ICE vehicles.By Type Analysis
Based on type, the market is classified into five way, two way, three way, four way, and others. The five way segment procured a promising growth rate in the market in 2023. In terms of volume, the five way segment would utilize 11,481.6 thousand units of automotive electric coolant valve by 2031. The automotive industry continuously strives to improve engine efficiency and reduce emissions to meet stringent regulatory standards.
By Modulation Type Analysis
On the basis of modulation type, the market is bifurcated into pre-configured and field-configurable. In 2023, the pre-configured segment dominated the market with a maximum 74% revenue share. Pre-configured electric coolant valves are designed to be plug-and-play compatible with existing vehicle cooling systems and control architectures.By Vehicle Type Analysis
Based on vehicle type, the market is segmented into passenger vehicle, light duty vehicle, medium & heavy-duty trucks, buses & coaches, and off highway vehicles. The light duty vehicle segment covered a considerable 21.2% revenue share in the market in 2023. In terms of volume, the light duty vehicle segment would utilize 29,107.4 thousand units of automotive electric coolant valve by 2031.Light-duty vehicles increasingly adopt electrified powertrains, including hybrid and electric propulsion systems.By Communication Protocol Analysis
By Communication Protocol, the market is divided into analog with voltage feedback, controller area network (CAN), LIN (local interconnect network), and others. The analog with voltage feedback segment procured an 18% revenue share in the market in 2023. Analog systems with voltage feedback are adaptable to different vehicle architectures and control interfaces.By Regional Analysis
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2023, the Europe region led the market by generating a 35% revenue share. In terms of volume, the Europe region would utilize 39,879.2 thousand units of automotive electric coolant valve by 2031. The Europe region's automotive sector is expanding rapidly, owing to increased disposable incomes, urbanization, and infrastructure development.Recent Strategies Deployed in the Market
- Mar-2024: Honeywell International, Inc. announced the enhancement to its F-35’s Power and Thermal Management System with the launch of a new upgraded F-35’s PTMS. The upgraded F-35s would provide 80 kW of cooling capacity. Moreover, by integrating the ability of F-35s to enhance cooling capacity within their current PTMS framework, Honeywell can mitigate the potential hazards associated with developing and deploying a new system.
- Dec-2023: Honeywell International, Inc. partnered with Lilium, a German aerospace company. Under this partnership, Honeywell would install its MicroVCS (Vapor Cycle System) into the Lilium Jet. Additionally, Honeywell would provide effortless integration solutions into various other sectors like business aviation and defense aircraft.
- Aug-2023: Siemens AG acquired Heliox, a provider of world-class smart energy management solutions. Through this acquisition, Siemens would accomplish its existing portfolio of eMobility charging, adding products and solutions for DC quick charging focused on eBus and eTruck fleets. In addition to this, Siemens would also expand its geographical footprint in European and North American markets while enhancing capabilities in power electronics.
- Dec-2022: Emerson Electric Co. introduced ASCO™ Series 209 proportional flow control valves, a series of valves designed to regulate the flow of fluid or gas in a single line, ensuring precise control over the flow rate. The new ASCO™ Series 209 proportional flow control valves offer the highest accuracy, pressure ratings, flow characteristics, and energy regulation in a purpose-built, compact architecture.
- Nov-2021: Hanon Systems announced a new manufacturing unit in Naengcheon-ri, Oedong-eup, Gyeongju-si, Korea. Through this expansion, the company would support the shift toward electrified vehicles. In addition to this, the company would provide a wide range of solutions for electrified vehicles including heat pump systems and coolant valve assemblies.
List of Key Companies Profiled
- Emerson Electric Co.
- Siemens AG
- Robert Bosch GmbH
- Parker-Hannifin Corporation
- Hanon Systems (Hahn & Co. Auto Holdings Co., Ltd.)
- Honeywell International, Inc.
- Continental AG
- Robertshaw (One Rock Capital Partners, LLC)
- VOSS Fluid GmbH (VOSS Holding GmbH + Co. KG)
- Rotex Automation Limited
Market Report Segmentation
By Voltage (Volume, Thousand Units, USD Billion, 2020-2031)
- 12 V
- 24 V
By Type (Volume, Thousand Units, USD Billion, 2020-2031)
- Two Way
- Three Way
- Four Way
- Five Way
- Others
By Modulation Type
- Pre-configured
- Field-configurable
By Vehicle Type (Volume, Thousand Units, USD Billion, 2020-2031)
- Passenger Vehicle
- Light Duty Vehicle
- Buses & Coaches
- Medium & Heavy Duty Trucks
- Off Highway Vehicles
By Communication Protocol
- Controller Area Network (CAN)
- LIN (Local Interconnect Network)
- Analog with Voltage Feedback
- Others
By Geography (Volume, Thousand Units, USD Billion, 2020-2031)
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. Global Automotive Electric Coolant Valve Market by Voltage
Chapter 6. Global Automotive Electric Coolant Valve Market by Type
Chapter 7. Global Automotive Electric Coolant Valve Market by Modulation Type
Chapter 8. Global Automotive Electric Coolant Valve Market by Vehicle Type
Chapter 9. Global Automotive Electric Coolant Valve Market by Communication Protocol
Chapter 10. Global Automotive Electric Coolant Valve Market by Region
Chapter 11. Company Profiles
Companies Mentioned
- Emerson Electric Co.
- Siemens AG
- Robert Bosch GmbH
- Parker-Hannifin Corporation
- Hanon Systems (Hahn & Co. Auto Holdings Co., Ltd.)
- Honeywell International, Inc.
- Continental AG
- Robertshaw (One Rock Capital Partners, LLC)
- VOSS Fluid GmbH (VOSS Holding GmbH + Co. KG)
- Rotex Automation Limited
Methodology
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