Automotive Electric Vacuum Pump Market size worth $ 1.1Bn by 2027
Published Date: March 22, 2021 Authors: Kiran Pulidindi, Akshay Prakash
Automotive Electric Vacuum Pump Market size is expected to exceed USD 1.1 billion by 2027, according to a new research study published by Global Market Insights Inc.
The rising adoption of vacuum in recent petrol engines to control the spread of petrol direct injection reduces fuel consumption by 15%, thus strongly contributing to the use of automotive electric vacuum pumps in vehicles. Market participants are focusing on the development of electric vacuum pumps, which can be used in all engine types including petrol, diesel, hybrid, and electric vehicles.
Growth in the global plug-in vehicle sales
The implementation of stringent environmental regulations, increasing environmental awareness among consumers, and governments offering tax redemption on electric propulsions vehicles including PHVs, Electric Vehicles (EVs), and Fuel Cell Vehicles (FCVs) have augmented the penetration of electric vehicles globally. China and Europe have witnessed significant sales of electric vehicles despite COVID-19. For example, in the second half of 2020, the overall sales of electric vehicles in China rose 12% year-on-year while Europe observed 137% growth in the sales of electric vehicles.
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Browse key industry insights spread across 200 pages with 275 market data tables & 19 figures & charts from the report, “Automotive Electric Vacuum Pump Market Size By Application (Brake, Engine), By Vehicle (Passenger Cars, LCV, HCV), By Propulsion Type (ICE, EV), By Sales Channel (OEM, Aftermarket), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
The automotive electric vacuum pump market from LCV segment is projected to witness around 4% CAGR through 2027 propelled by countries that are prominent light commercial vehicle production hubs including Mexico, Canada, and the U.S. The increasing implementation of direct fuel injection systems in pick-up trucks due to their higher fuel efficiency and effectiveness in a cold start, mostly in the American countries, will improve product penetration. The increasing demand for electric utility trucks & buses along with the implementation of strict emission norms on these vehicles will further drive industry growth.
Rising emphasis on fuel efficiency to surge product penetration
Automotive electric vacuum pump market volume from ICE segment is estimated to grow at over 3.5% CAGR from 2021 to 2027. Electric vacuum pumps do not require power for the engine, thus reducing the extra load from the engine and lowering energy requirements & carbon emissions. Moreover, the product does not require any oil lubrication owing to which it is maintenance-free while mechanical vacuum pumps require maintenance every 1,200 working hours.
Europe held nearly 20% of the global market share in 2020 on the back of large electric vehicle production and electric vehicle fleets across the region. Automotive manufactures are continually adopting a wide array of advanced combustion engine technologies to reduce carbon emissions and noise emissions of their products. The average noise generated by an electric vacuum pump is nearly 70 - 73 dB, thereby increasing product usage and providing lucrative market opportunities.
Some of the major manufacturers in automotive electric vacuum pump market are Rheinmetall Automotive AG, Hella KGaA Hueck & Co., Continental AG, Lvxiang Electric Vehicle Co., Ltd., Tuopu Group, LPR Global and Youngshin Precision, Co., Ltd.