Automotive Electric Vacuum Pump Market
The Automotive Electric Vacuum Pump Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Automotive Electric Vacuum Pump Global Market Report 2024, The automotive electric vacuum pump market size has grown rapidly in recent years. It will grow from $18.28 billion in 2023 to $20.53 billion in 2024 at a compound annual growth rate (CAGR) of 12.3%. The growth in the historic period can be attributed to emission reduction regulations, transition to electric and hybrid vehicles, performance enhancement in automotive systems, reduction in engine weight and size, integration of advanced safety feature.
The automotive electric vacuum pump market size is expected to see rapid growth in the next few years. It will grow to $31.19 billion in 2028 at a compound annual growth rate (CAGR) of 11.0%. The growth in the forecast period can be attributed to investments in sustainable automotive solutions, evolving consumer preferences, growth in automotive electrification, regulatory emphasis on vehicle safety. Major trends in the forecast period include development of dual-function pump systems, adoption of regenerative braking systems, customized pump solutions for evs, silent operation and reduced vibration, compact and modular pump designs.
The increasing adoption of electric vehicles is expected to propel the growth of the automotive electric vacuum pump market going forward. The electric vehicle is automotive that can be powered by an electric motor that takes electricity from a battery and can be charged from an external source. An automotive electric vacuum pump reduces the load on the engine lubrication system without a mechanical pump by lubricating the vacuum pump. It allows a more compact pump design, boosting engine efficiency. For instance, in May 2022, according to the International Energy Agency, a Paris-based autonomous intergovernmental organization, sales of electric cars doubled in 2021 to set a record of 6.6 million, and the number of electric vehicles on the world’s roads by the end of 2021 was about 16.5 million. Therefore, the increasing adoption of electric vehicles drives the automotive electric vacuum pump market.
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The automotive electric vacuum pump market covered in this report is segmented –
1) By Product Type: Diaphragm Type, Leaf Type, Swing Piston Type
2) By Propulsion Type: Electric Vehicle (EV), Internal Combustion Engine (ICE)
3) By Vehicle Type: Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles
4) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
Technological advancements are a key trend gaining popularity in the automotive electric vacuum pump market. Major companies operating in the automotive electric vacuum pump market are focused on developing innovative technologies to meet specific demands and sustain their position in the market. For instance, in May 2022, Atlas Copco AB, a Sweden-based manufacturing company of vacuum pumps, launched the GHS VSD+ range of vacuum pumps. These pumps include a revolutionary design for improved performance, superior oil division, a smaller footprint, and an innovative new regulator that prepares the client for Industry 4.0. The new Atlas Copco oil-injected screw element is used in the GHS 1402-2002 VSD+. Its novel compression optimization valves enable high pumping rates at low vacuum. This is also a pump that looks ahead. It is outfitted with HEX@, Atlas Copco’s groundbreaking new vacuum controller, making it industry 4.0-ready. Users of speed-driven pumps are also well-equipped for the entire digitization of industrial processes with a new control system.
The automotive electric vacuum pump market report table of contents includes:
1. Executive Summary
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