Press release
Automotive Electric Vacuum Pump Industry Expected to Reach $33.84 Billion by 2029 at 11% CAGR
Automotive Electric Vacuum Pump Market
Automotive Electric Vacuum Pump Market Value Projection: How Much Will the Market Size by 2025?
There's been a quick expansion in the automotive electric vacuum pump market size in the past few years. This market is expected to rise from $20.25 billion in 2024 to $22.29 billion in 2025, with a compound annual growth rate (CAGR) of 10.1%. The growth observed in the historic period could be credited to regulations reducing emissions, the shift towards electric and hybrid vehicles, improvements in automotive system performance, reductions in engine weight and size, and the incorporation of cutting-edge safety features.
What Will Be the Market Growth Forecat for Automotive Electric Vacuum Pump in 2029?
The market size of automotive electric vacuum pumps is set to witness a significant expansion in the coming years, escalating to a worth of $33.84 billion by 2029, with a CAGR of 11.0%. This growth in the projection period can be linked to capital injections in eco-friendly automotive technologies, alteration in consumer inclinations, acceleration in automotive electrification, and regulatory focus on vehicular security. The prediction timeframe will see major trends like the advent of bifunctional pump systems, usage of regenerative brake systems, tailored pump layouts for Electric Vehicles, noiseless operation and minimised vibration, alongside compact and component-based pump styling.
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What Are the Core Competitive Drivers in the Automotive Electric Vacuum Pump Industry?
The automotive electric vacuum pump market is predicted to expand due to the increased use of electric vehicles. These are vehicles that rely on an electric motor for power, sourcing their electricity from a battery that can be replenished from an external source. An automotive electric vacuum pump lessens the burden on the engine's lubrication system in the absence of a mechanical pump by lubricating the vacuum pump. This allows for a smaller pump design, which in turn enhances engine efficiency. As an example, the U.S. Energy Information Administration, a US government agency, reported that the proportion of battery-electric vehicles (BEVs) in new light-duty vehicle sales hit 17.7% in the third quarter of 2023. This year, BEVs have made up 16.0% of all new vehicle sales, a rise from 12.5% in 2022 and 9.0% in 2021. Subsequently, the rise in adoption of electric vehicles is fueling the growth of the automotive electric vacuum pump market.
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Which Automotive Electric Vacuum Pump Market Segment Is Projected to See the Fastest Growth?
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), After market
Subsegments:
1) By Diaphragm Type: Single Diaphragm Pumps, Double Diaphragm Pumps
2) By Leaf Type: Fixed Leaf Pumps, Adjustable Leaf Pumps
3) By Swing Piston Type: Single Swing Piston Pumps, Multi-Piston Swing Pumps
Which Trends Are Opening New Opportunities in the Automotive Electric Vacuum Pump Market?
Technological progress is a rising trend in the automotive electric vacuum pump industry, with leading companies putting their efforts towards the creation of innovative technologies that cater to precise requirements and help maintain market dominance. For instance, in May 2022, Atlas Copco AB, a Swedish manufacturer of vacuum pumps, introduced the GHS VSD+ range. These pumps come with a radical design that offers enhanced performance, superior oil separation, a compact size, and a revolutionary new regulator compatible with Industry 4.0. The GHS 1402-2002 VSD+ integrates the latest Atlas Copco oil-injected screw element, with its unique compression optimization valves ensuring high pumping rates at a low vacuum level. In addition, the pump is forward-thinking and equipped with HEX@, Atlas Copco's new cutting-edge vacuum controller that is industry 4.0-ready. Moreover, those using speed-controlled pumps are well-prepared for full-scale industrial process digitization with this new control system.
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Who Are the Leaders in the Automotive Electric Vacuum Pump Market?
Major companies operating in the automotive electric vacuum pump market include Robert Bosch GmbH, Denso Corporation, Continental AG, Magna International Inc., Aisin Seiki Co. Ltd., Valeo SA, TRW Automotive Holdings Corp.,MAHLE GmbH, Atlas Copco, Hella GmbH & Co. KGaA, Rheinmetall Automotive AG, Ingersoll Rand, MANN+HUMMEL Group, Delphi Technologies, The Johnson Electric Group, Ningbo Tuopu Group Co. Ltd., Cooper-Standard Holdings Inc,Mitsuba Corporation, Dorman Products Inc., SHW AG, Hitachi Astemo Americas Inc., Pricol Limited, Advik Hi Tech Pvt Ltd, Pierburg,Nagman Instruments & Electronics Private Limited, WABCO Holdings Inc., Woosung Vacuum Co. Ltd.
Which Regional Automotive Electric Vacuum Pump Markets Offer the Greatest Growth Potential?
Asia-Pacific was the largest region in the automotive electric vacuum pump market in 2024. The regions covered in the automotive electric vacuum pump market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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