Automotive Electric Vacuum Pump Market: Growth Drivers, Competitive Insights & Regional Outlook, 2027
North America automotive electric vacuum pump market is poised to account for massive gains in the coming years. The regional market had in 2020 acquired a 15% business share in the overall market, mainly due to the escalating EV production and sales in the United States. It has been reported that during 2020, the country recorded nearly 300 thousand EV sales.
Currently, the market is ascribed to be fueled by the robust presence of OEMs that are exploring the possibilities of adopting an expansive range of advanced fuel-effective technologies in gasoline engine vehicles.
In a nutshell, increasing automobile sales, including electric vehicles, and alarming concerns related to the mounting carbon emission levels worldwide would potentially prompt the growth curve of automotive electric vacuum pump market.
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The GHG emission levels prompted by the automotive industry, are stringently rising in different geographies. In an effort to reduce these levels, the development of automotive electric vacuum pumps is taking a strategic turn across diverse economies over the recent years. These pumps are known to improve the fuel efficiency of vehicles, resulting in considerable carbon-savings of carbon dioxide per kilometer, as compared to mechanical pumps.
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. The automotive electric vacuum pump market is anticipated to exceed USD 1 billion by the end of 2027.
Manufacturers of automotive electric vacuum pumps are consistently attempting to enhance the operational efficiency to provide vacuum pumps that can function in extreme conditions like cold starts and driving at steep altitudes. Also, multiple manufacturers have started to develop electric vacuum pumps that are activated by the application of brakes. This system increases the driveline efficiency.
Different leaders operating in the overall automotive electric vacuum pump market are laying focus on introducing novel products in the marketplace. Subsequently, they are also implementing organic marketing strategies like mergers and acquisitions, and partnerships to gain a competitive edge in the market. A mention of one such initiative is Rheinmetall’s 2020 contract.
In 2020, Rheinmetall Automotive announced receiving a contract valued at USD 280 Mn from a leading international carmaker. This agreement was made in an attempt to develop electric vacuum pumps for hybrid EVs.
In addition, market players are emphasizing on forward integration when it comes to services like product design, installation and final assembly. This is mainly because having an efficient aftersales service helps in building trust amongst consumers. Considering all these factors, the market for automotive electric vacuum pumps will proliferate over the stipulated timeframe.
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Some Point from Table of Contents:
Chapter 4 Automotive Electric Vacuum Pump Market, By Propulsion Type
4.1 Global automotive electric vacuum pump industry insights, by propulsion type
4.2 EV
4.2.1 Global market estimates and forecasts, 2017 - 2027
4.2.2 Market estimates and forecast, by region, 2017 - 2027
4.3 ICE
4.3.1 Global market estimates and forecasts, 2017 - 2027
4.3.2 Market estimates and forecast, by region, 2017 - 2027
Chapter 5 Automotive Electric Vacuum Pump Market, By Vehicle
5.1 Global automotive electric vacuum pump industry insights, by vehicle
5.2 Passenger Cars
5.2.1 Global market estimates and forecasts, 2017 - 2027
5.2.2 Market estimates and forecast, by region, 2017 - 2027
5.3 LCV
5.3.1 Global market estimates and forecasts, 2017 - 2027
5.3.2 Market estimates and forecast, by region, 2017 – 2027
5.4 HCV
5.4.1 Global market estimates and forecasts, 2017 - 2027
5.4.2 Market estimates and forecast, by region, 2017 - 2027
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