Transparency Market Research has published a new report on the global automotive electric vacuum pump market for the forecast period of 2019–2027. According to the report, the global automotive electric vacuum pump market is projected to reach ~US$ 4 Bn by 2027, expanding at a CAGR of ~15% during the forecast period.
Global Automotive Electric Vacuum Pump Market: Key Insights
Expansion of Automotive Electric Vacuum Pump Market
Global Electric Vacuum Pump Market: Key Segments
Based on application, the global automotive electric vacuum pump market has been classified into electric vehicles and gasoline/diesel vehicles. The electric vehicles segment has been further sub-segmented into battery electric vehicle, hybrid vehicles, and plug-in hybrid vehicles. The gasoline/ diesel vehicles segment held a major share of the global market in 2018, owing to significant demand and sale of cost-effective conventional gasoline/diesel vehicles. An electric vacuum pump is a basic component of an electric vehicle. Electric vacuum pumps are directly powered by a battery, and do not require engine power for operation. Consequently, rising sales of electric vehicles are expected to boost the demand for automotive electric vacuum pumps.
Based on type, the global automotive electric vacuum pump market has been divided into leaf, diaphragm, and swing piston. Diaphragm type vacuum pumps are a widely utilized in the auto industry, owing to their simple design, reliability, and ease of maintenance.
Global Automotive Electric Vacuum Pump Market: Regional Analysis
In terms of region, the global automotive electric vacuum pump market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific held a leading share of the global automotive electric vacuum pump market in 2018, owing to the presence of large electric vehicle fleets in China. North America and Europe held significant shares of the global automotive electric vacuum pump market. The penetration of electric vehicles is rising in Germany, the U.K., Belgium, Nordic countries, and The Netherlands. As such, the demand for electric vacuum pumps is expected to rise in these countries.
Global Automotive Electric Vacuum Pump Market: Key Players
Prominent players operating in the global automotive electric vacuum pump market include Continental AG, Dalain Haina New Energy Auto Parts Manufacturing Co., Ltd., HELLA GmbH & Co. KGaA, Johnson Electric, Magna International Inc., Toupo Grop, Rheinmetall Automotive AG, Robert Bosch GmbH, Valeo SA, WABCO, Youngshin Precision, Co., Ltd., and YT STABLE TECH. CORP.
Global Automotive Electric Vacuum Pump Market: Segmentation
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