Automotive Electric Vacuum Pump Market Analysis | 2023-2028

Market Insights

The automotive electric vacuum pump market was estimated at USD 0.98 billion in 2022 and is likely to grow at a CAGR of 7.63% during 2023-2028 to reach USD 1.51 billion in 2028.

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Market Dynamics

Introduction

An automotive electric vacuum pump is a device that generates vacuum pressure to enhance brake performance in vehicles equipped with power brakes. It operates independently of the engine and assists in creating the necessary vacuum for power brake systems, ensuring consistent braking power. This pump is especially crucial in electric and hybrid vehicles that may lack the traditional engine-driven vacuum source. By maintaining optimal vacuum levels, the electric vacuum pump contributes to reliable and efficient brake operation, improving overall safety and performance in modern automotive systems.

Market Drivers

Major factors, such as automotive electric vacuum pumps providing enough vacuum for the pneumatic operation of the brake booster and other components such as vacuum for the direct fuel injection system, and also providing vacuum for other engine components, such as central locking systems, wastegate valves on the exhaust-gas turbocharger, and exhaust gas recirculation valves, are expected to fuel market growth during the forecast period.

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Key Players

Some of the key players in the market are-

• Continental AG
• Hella KGaA Hueck & Co.
• Johnson Electric
• LPR Global
• Mikuni corporation
• Ningbo Tuopu Group
• Rheinmetall Automotive
• Wenzhou Lvxiang Electric Vehicle Co., Ltd.
• Youngshin Precision, Co., Ltd
• YT STABLE Tech. Corp.

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

By Vehicle Type

Based on the vehicle type, the market is segmented as PCV, LCV, HCV, and two-wheelers. PCV is expected to witness a significant growth rate in the market during the forecast period owing to the frequent launch of passenger car vehicle models along with multiple offers provided by vehicle manufacturers. In addition, increasing investments by the premium and luxury car manufacturers to manufacture new products with enhanced features, and the increasing penetration of direct fuel injection systems in vans and pickup trucks are further expected to drive the automotive electric vacuum pump market growth during the forecast period.

By Propulsion Type

Based on the propulsion type, the market is segmented as ICE and EV. The electric vehicle segment is estimated to account for the major share of the market during the forecast period on account of the growing production and sales of new energy vehicles in recent years coupled with the demand from the aftermarket segment. Furthermore, demand for new energy vehicles, such as BEVs and PHEVs, is projected to increase in emerging economies, further driving the market growth during the forecast period.

By Sales Channel Type

Based on the sales channel type, the market is segmented as OEM and aftermarket. The OEM segment is estimated to be the leading position type in the market owing to the increasing production of EVs globally to lessen carbon emissions. The production of electric vehicles across the globe was affected by the onset of the COVID-19 pandemic. The impact is estimated to fade away from 2021, restarting the electric vehicle production and restoring the demand for EVPs.

Regional Insights

In terms of regions, Asia-Pacific is estimated to be the leading region in the market owing to huge automotive and electric vehicle production in China. Automotive manufacturers are implementing a wide range of advanced fuel-efficient technologies to reduce carbon emissions, the direct fuel injection system is one of them. Europe and North America are also expected to offer substantial growth opportunities during the forecast period.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects automotive electric vacuum pump market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The automotive electric vacuum pump market is segmented into the following categories:

By Vehicle Type

• PCV
• LCV
• HCV
• Two-wheelers

By Application Type

• Brake
• Engine

By Propulsion Type

• ICE
• EV

By Sales Channel Type

• OEM
• Aftermarket

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the application types by sales channel type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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