Global Automotive Electric Vacuum Pump (EVP) Market Industry Trends, Estimation & Forecast, 2018 - 2025

The technology of the Electric Vacuum Pump is difficult, and there are a few manufacturers that can manufacture EVPs impacting market demand. Big manufacturers can ensure high quality, so their product can meet the high-end consumer’s demand. The price is decreasing at a stable speed, but EVP with high quality means a high price. The price of different manufactures has a gradient.

Currently, almost all new energy and electric vehicles need Electric Vacuum Pump, and the size of the market for passenger cars grew rapidly, and passenger cars have a higher frequency parts replacement, so both in OEM and after-market, the Electric Vacuum Pump used in passenger cars has growth driving factor. So the demand has a stable growth rate. 

Automotive Electric Vacuum Pump Market (EVP) Market is expected to grow with a CAGR of 6.1% during the forecast period of 2018 to 2025. 

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The market of EVP is segmented into leaf type, diaphragm type, swing piston type, and others. Majorly its id demanded by the industries that manufacture hybrid cars, EV cars, diesel vehicles, and others. Out of which, the diesel vehicles segment has dominated over the total revenue generated in recent years. Further, the EV cars segment has contributed significantly to the augmentation of the market. During the forecast period, the segment of EV cars is estimated to increase with a CAGR of 12.7%. These cars are not capable of generating vacuum and thus use electric vacuum pumps. Increasing sales of electric vehicles (EV) is proportional to the stimulating growth of the global automotive EVP market.

The Asia Pacific region is the dominant region in contributing to market growth in 2018. The rising investment by the industry players of these regions is driving the market of the market in these regions. This region is expected to grow with a CAGR of 7% during the forecast period. Further, this region is anticipated to fuel up the market significantly over the forecast period owing to the rising development of the automotive industries in developing nations such as India, Japan, and China. Moreover, the North American region is also anticipated to grow significantly. America, China, and Europe together contributed to almost 90% of the overall market revenue in recent years.

Prominent industry players include Continental AG, VIE Group, Young-shin Automotive India Private Limited, Hella Group, and Tuopu Group. Various industry players are adopting advanced strategies to increase the automotive electric vacuum pump business size all over the world.

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