Press release
Automotive Electric Vacuum Pump Market To Reach A Valuation Of ~US$ 4 Billion By 2027
Browse Report Details: https://www.transparencymarketresearch.com/automotive-electric-vacuum-pump-market.html
Global Automotive Electric Vacuum Pump Market: Key Insights
According to the report, the global automotive electric vacuum pump market is expected to expand steadily at a CAGR of ~15%, due to the rise in the adoption of electric vehicles.
The U.S., Germany, and China are anticipated to emerge as key countries leading the global automotive electric vacuum pump market.
The global automotive electric vacuum pump market is expanding at a consistent pace, owing to a rise in vehicle production across the globe, coupled with a surge in the dependency of society on automobiles, which boosts the aftermarket of brake systems and brake boosters, and ultimately, the aftermarket for electric vacuum pumps, owing to increasing concerns about vehicle safety.
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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.
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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.
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