Automotive Electric Vacuum Pump Market: Key Insights, Industry Global Revenue & Forecast Period 2021 – 2027

By Ronak Bora

The size of automotive electric vacuum pump market was registered at USD 864.33 million in the year 2020 and is anticipated to cross USD 1.1 billion by 2027. Between the period 2021-2027, the market is expected to register a CAGR of 4.5%.
The automotive electric vacuum pump market is estimated to procure steady growth supported by the rising need in the operation of several engine applications like direct fuel injection and for better fuel efficiency. Electric vacuum pumps are powerful and compact and are used in modern electric vehicles, hybrids, as well as in vehicles that have conventional drivelines. For downsized gasoline engines, small pumps are essential as they guarantee an adequate vacuum level, such as for boosting the braking power.
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Companies operating in the automotive electric vacuum pump market are focusing on enhancing the operational efficiency of products to have a correct vacuum, even in extreme situations like during cold start or driving at extreme altitudes. In order to serve this demand, several manufacturers are making electric vacuum pumps that are operational only when brakes are applied, which in turn, raises the efficiency of the driveline.
They are also working on forward integration in terms of services like product installation, design, and final assembly, given that aftersales is an important way to gain customer trust. Collaborations and partnerships with vehicle manufacturers is another business strategy being adopted, for achieving direct sales and product development.
One of the crucial benefits of using HCV systems is its cost effectiveness. These systems are prominently found in vehicles used for logistics and construction applications. With growing population and rising economy, there are significant investments being made in developing an advanced infrastructure in Asia Pacific and Latin American nations.
This has subsequently increased the demand for HCV systems in these regions. These are some reasons owing to which the HCV segment is anticipated to register a CAGR of 6% over the forecasted timeframe.
Meanwhile, the North America automotive electric vacuum pump market held more than 15% share in 2020 credited to large-scale electric vehicle sales and production in the region. Electric vehicle sales in the U.S were recorded above 300,000 in 2020. OEMs are using a wide range of modern and evolved fuel-efficient technologies in gasoline engine vehicles, that is projected to drive product demand.
The COVID-19 pandemic has forced governments across the world to implement strict lockdown which has significantly affected the production of electric vacuum pumps. Owing to these factors, the market will witness a slight dip in its growth over the forecasted timeframe.
However, with the introduction of vaccination programs, production plants are now operating at a full potential which will help in compensating the financial losses owing to lockdown in upcoming years.
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Some Point from Table of Contents:
Chapter 6   Automotive Electric Vacuum Pump Market, By Application
6.1    Global automotive electric vacuum pump market insights, by application
6.2    Brake
6.2.1    Global market estimates and forecasts, 2017 - 2027
6.2.2    Market estimates and forecast, by region, 2017 - 2027
6.3    Engine
6.3.1    Global market estimates and forecasts, 2017 - 2027
6.3.2    Market estimates and forecast, by region, 2017 – 2027
Chapter 7   Automotive Electric Vacuum Pump Market, By Sales Channel
7.1    Global automotive electric vacuum pump market insights, by sales channel
7.2    OEM
7.2.1    Global market estimates and forecasts, 2017 - 2027
7.2.2    Market estimates and forecast, by region, 2017 - 2027
7.3    Aftermarket
7.3.1    Global market estimates and forecasts, 2017 - 2027
7.3.2    Market estimates and forecast, by region, 2017 – 2027
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About Author

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport....

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