Press release
Powering Efficiency: Automotive Electric Vacuum Pump Market to Hit $1.8 Billion by 2033, Growing at 3.7% CAGR
Automotive Electric Vacuum Pump Market
Allied Market Research published a report, titled, "Automotive Electric Vacuum Pump Market by Propulsion Type (EV, and ICE), Vehicle Type (Passenger Car, LCV, and HCV), Sales Channel (OEM, and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the automotive electric vacuum pump market was valued at $1.3 billion in 2023, and is estimated to reach $1.8 billion by 2033, growing at a CAGR of 3.7% from 2024 to 2033.
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The automotive electric vacuum pump (EVP) improves engine performance. It is powered by the engines camshaft. Motor cars?braking systems receive servo assistance. It is employed to reduce the force exerted on the brake pedal in order to produce a certain braking effect. Usually, vacuum assistance is provided via a vacuum brake booster. A vacuum pump is driven mechanically by the depression by the engine inlet manifold or the vehicle engine.
Recent Key Developments
In November 2021, the UK National Traffic Information Service (NTIS) incorporated new technology, enhancing data reliability on motorways and major roads. This upgrade aids efficient incident management and traffic regulation.
In February 2022, Sensys Gatso Group, through its subsidiary, Sensys Gatso USA signed a 5-year TRaaS contract with Oelwein, Iowa to provide automated red-light enforcement.
Demand for Lightweight and Compact Designs
Lightweight and compact vacuum pump designs are becoming more and more in demand as vehicle weight reduction and space optimisation become priorities. Manufacturers are searching for vacuum pump solutions that are both efficient and easily fitted into the architecture of their cars, without sacrificing performance. In response, vacuum pump producers are coming up with creative designs that satisfy these specifications.
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Market Segmentation
The automotive electric vacuum pump market growth is segmented into propulsion type, vehicle type and sales channel and region. On the basis of propulsion type, the market is divided into EV, and ICE.On the basis of vehicle type, the market is segregated into passenger cars, LCV, and HCV. On the basis of sales channel, the market is classified into OEM and aftermarket. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
Regional/Country Market Outlook
China and India are predicted to make the largest contributions to automotive electric vacuum pump development in APAC. The regions market is expanding mostly as a result of rising construction activity in developing countries. It is anticipated that the building industry would expand steadily, necessitating the development of new infrastructure to house and service the expanding urban population. Such factors are driving the automotive electric vacuum pump market demand as automotive electric vacuum pumpare used for directions and used to warn people for potentially hazardous situations.
Key Market Players
HELLA GmbH & Co. KGaA,
Mikuni Corp.,
Robert Bosch Gmbh,
Luxiang Electric Vehicle Co., Ltd,
Youngshein Precision Co., Ltd,
Johnson Electric,
Dalian New Energy Auto Parts Manufacturing Co., Ltd., Continental AG,
RheinMetall Automotive AG,
Tuopu Group
The report provides a detailed analysis of these key players in the global automotive electric vacuum pump market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the market analysis to identify the prevailing automotive electric vacuum pump market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the automotive electric vacuum pump market forecast segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global Automotive Electric Vacuum Pump Industrymarket.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global automotive electric vacuum pump market trends, key players, market segments, application areas, and market growth strategies.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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