Global Automotive Electric Vacuum Pump (EVP) Market growing at a CAGR of 10.3% from 2023 to 2030
Category : Automotive Services | Published Date : Jun 2023
Key Market Overview
The automotive electric vacuum pump market is expected to reach USD 3,794.83 Million by 2030. The market was valued at USD 1,756.13 Million in 2022 and is predicted to grow at a compound annual growth rate of 10.3% during the forecast period, 2023-2030.
The report highlights the increasing adoption of pumps in the automotive industry to improve the performance of the braking system. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the automotive electric vacuum pump market.
Global Automotive Electric Vacuum Pump Market By Overview
Consegic Business Intelligence provided an inclusive research report on the automotive electric vacuum pump market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends. By type segment including swing piston automotive electric vacuum pump is projected to register the fastest CAGR owing to the higher efficiency. The swing piston provides strong vacuum power while consuming less energy compared to other types of pumps. The high efficiency leads to reduced energy consumption and improved vehicle efficiency aligns with the growing demand for more eco-friendly and energy-efficient vehicles, thus driving the growth of the market.
Get Free SampleMarket Dynamics
Driver:
- Rising demand for automotive EVPs for improving the durability and fuel efficiency of vehicles is bolstering the market growth.
- Increasing initiatives by the government to reduce carbon emission is propelling the growth of the automotive electric vacuum pump market.
- The ability of electric vacuum pumps to operate via a horizontal fluid flow path providing a more energy-efficient and less friction-loss fluid path, resulting in low energy costs is accelerating the market growth.
Restraints:
- High manufacturing and maintenance cost of automotive electric vacuum pump is restraining the market growth.
- The emergence of vacuum-independent pumps to reduce greenhouse gas emissions in comparison to vacuum-dependent pumps is hampering the growth of the market.
Market Segmentation:
| Report Attributes | Report Details |
| By Type | Diaphragm Type, Leaf Type, and Swing Piston Type |
| By Vehicle Type | Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles |
| By Sales Channel | OEM and Aftermarket |
| By Application | Brake and Engine |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
As per the study, the market is dominated by certain major companies such as Atlas Copco AB, Continental AG, Hella GmBH & Co. KGaA, and Mikuni Corp. that have a strong market position in current market circumstances. The market players compete for a firm market position through mergers and acquisitions, Insulation innovations, and business strategies. Thus, evolving research and developments in the automotive electric vacuum pump market are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various end-use industries.
- Atlas Copco AB
- Continental AG
- Hella GmBH & Co. KGaA
- Mikuni Corp.
- Rheinmetall Automotive AG
- Robert Bosch GmbH
- Tuopu Group
- VERDER India Pumps Pvt Ltd
- Youngshin Precision Co., Ltd.
- ZF Friedrichshafen AG