New York, June 26, 2023 (GLOBE NEWSWIRE) -- As per the research report “Global Automotive Electric Vacuum Pump Market” published by Consegic Business Intelligence, the market was worth USD 1,756.13 million in 2022 and is anticipated to reach over USD 3,794.83 million by the year 2030, growing at a CAGR of 10.3%.
An automotive electric vacuum pump (EVP) is a type of vacuum pump that is powered by electricity and is deployed in various automotives to provide vacuum pressure to power brake boosters and improve engine performance. Additionally, the automotive vacuum pump is also responsible for enhancing the longevity of an engine by protecting the oil from contamination for a longer period of time. Furthermore, automotive vacuum pumps remove the air from the engine by generating a vacuum that is used for various brake applications.
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The increasing demand for automotive electric vacuum pumps from the automotive industry to offer enhanced fuel efficiency and durability of vehicles serves as the key factor responsible for driving the market growth. Additionally, electric vacuum pumps are also responsible for enhancing the motor life of the vehicle by reducing the load on the engine lubrication system, thus contributing significantly in driving the growth of the market. Moreover, the implementation of various emission standards by the government to reduce carbon emissions and promote sustainable transportation is further accelerating the growth of the market. The electric vacuum pumps are responsible for enhancing fuel efficiency and also meeting net-zero emissions goals. For instance, in February 2021, India’s Bihar State with the support of the UN Environment Programme (UNEP) announced to pursue a low-carbon development pathway to reduce the emission of greenhouse gases. The partnership aims to promote sustainable transportation and automotive electric vacuum pumps are crucial for attaining such a goal by facilitating low carbon emissions from the automotive engine.
Moreover, the increasing adoption of advanced automotive EVP in electric vehicles to enhance vehicle performance by achieving a high degree of vacuum pressure within a short period of time is expected to create growth opportunities. However, the emergence of vacuum-independent pumps to better reduce greenhouse gas emissions in comparison to vacuum-dependent pumps is restraining the growth of the market.
| Report Attributes | Report Details |
| Market Size By 2030 | USD 3,794.83 million |
| Forecast Period | 2023-2030 |
| CAGR (2023-2030) | 10.3% |
| Base Year | 2022 |
| Study Timeline | 2017-2030 |
| Key Players | Atlas Copco AB, Continental AG, Hella GmBH & Co. KGaA, Mikuni Corp., Rheinmetall Automotive AG, Robert Bosch GmbH, Tuopu Group, VERDER India Pumps Pvt Ltd, Youngshin Precision Co., Ltd., ZF Friedrichshafen AG |
| By Type | Diaphragm Type, Leaf Type, and Swing Piston Type |
| By Vehicle Type | Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles |
| By Sales Channel | OEM and Aftermarket |
| By Application | Brake and Engine |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more |
| By Region | North America, Europe, Asia-Pacific, Latin America, Middle East & Africa |
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Automotive Electric Vacuum Pump Market Growth Drivers:
- Rising demand for automotive EVPs for improving the durability and fuel efficiency of vehicles is bolstering the market growth.
- Increasing initiatives by the government to reduce carbon emission is propelling the growth of the automotive electric vacuum pump market.
- The ability of electric vacuum pumps to operate via a horizontal fluid flow path providing a more energy-efficient and less friction-loss fluid path, resulting in low energy costs is accelerating the market growth.
Restraints
- High manufacturing and maintenance cost of automotive electric vacuum pump is restraining the market growth.
- The emergence of vacuum-independent pumps to reduce greenhouse gas emissions in comparison to vacuum-dependent pumps is hampering the growth of the market.
Opportunities
- The increasing adoption of advanced automotive EVP in electric vehicles to enhance vehicle performance by achieving a high degree of vacuum pressure within a short period of time is expected to create growth opportunities.
Global Automotive Electric Vacuum Pump Market Segmentation Details:
Based on Type, the diaphragm pump segment contributed the largest shares to the market growth in 2022. The growth is attributed to the ability of diaphragm pumps to generate a vacuum quickly and with low vibrations in the automobile’s engine. Additionally, diaphragm pumps operate via frictionless fluid path resulting in low energy costs, reduced maintenance, and increased longevity of the vehicle. Moreover, diaphragm pumps reduce carbon emissions more efficiently in comparison to other pumps, further driving the adoption of diaphragm pumps.
Based on Vehicle Type, the passenger cars segment offered substantial shares to the global automotive electric vacuum pump market in the year 2022. The growth is credited to the ability of automotive EVPs to enhance vehicle performance by providing vacuum to systems including power brakes and emission control systems. Furthermore, passenger cars represent the largest segment of the automotive industry in terms of sales volume. Consequently, the accessibility of automotive electric vacuum pumps at an affordable price lead to the expansion of the customer base and results in increased sales volumes thus, driving the growth of the automotive EVP market.
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Based on Sales Channel, the OEM segment holds the maximum share to the market growth in the year 2022. The growth is attributed to the ability of OEMs that have established strong relationships with consumers over the years, hence gaining a significant advantage in the market. Also, OEMs have invested heavily in building brand recognition, to establish a loyal customer base and manufacturers tend to purchase an electric vacuum pump from a reputable OEM compared to an unknown brand. The aforementioned factors are collectively responsible for accelerating the growth of OEMs in the automotive electric vacuum pump market.
Based on Application, the brakes segment offered substantial shares to the global automotive electric vacuum pump market in the year 2022. Automotive EVPs are critical in providing vacuum assistance for power brakes to enhance braking performance and ensure efficient and consistent braking force. Moreover, the advancements in technology including the emergence of advanced software that increases the efficiency of automatic emergency braking is further contributing in accelerating the market growth.
Based on region, Asia Pacific has been a major contributor to the growth of the automotive electric vacuum pump market. The growth is attributed to the expanding automotive industry that increases the demand for electric vacuum pumps to improve the efficiency of engines. Additionally, automotive manufacturers are implementing advanced technologies to reduce carbon emission that further contributes in accelerating the market growth.
Recent Developments
- In April 2023, Atlas Copco completed the acquisition of Trillium US Inc. to expand its portfolio in the electric vacuum pumps market. The acquisition by Atlas Copco will strengthen its position in the North American market.
Key Market Highlights
- Globally, automotive electric vacuum pumps are divided based on the type into diaphragm type, leaf type, and swing piston type.
- In the context of vehicle type, the market is separated into passenger cars, light commercial vehicles, and heavy commercial vehicles.
- The sales channel segment of medium voltage switchgear is bifurcated into OEM and aftermarket.
- The application segment is bifurcated into brake and engine.
- The market is geographically divided into five regions: North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
- Asia Pacific and North America are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on technological advancements in automotive electric vacuum pumps.
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List of Major Global Automotive electric vacuum pump Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —
- Atlas Copco AB
- Continental AG
- Hella GmBH & Co. KGaA
- Mikuni Corp.
- Rheinmetall Automotive AG
- Robert Bosch GmbH
- Tuopu Group
- VERDER India Pumps Pvt Ltd
- Youngshin Precision Co., Ltd.
- ZF Friedrichshafen AG
Global Automotive Electric Vacuum Pump Market Segmentation:
- By Type
- Diaphragm Type
- Leaf Type
- Swing Piston Type
- By Vehicle Type
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- By Sales Channel
- OEM
- Aftermarket
- By Application
- Brake
- Engine
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Key Questions Covered in the Automotive Electric Vacuum Pump Market Report
- What will be the potential market valuation for the automotive electric vacuum pump market by 2030?
- The market valuation for the automotive electric vacuum pump market is expected to be approximately USD 3,794.83 million by 2030 driven by the increasing adoption of pumps in the automotive industry to improve the performance of the braking system.
- Based on current market trends and future predictions, which geographical region will have the largest impact on the automotive electric vacuum pump market's growth in the coming years?
- Europe is anticipated to have the largest impact on the automotive electric vacuum pump market during the forecast period. The growth is credited to the early adoption of advanced technologies to reduce carbon emissions and improve the fuel efficiency of vehicles. Moreover, the presence of key players in the region constantly applies innovations and invests heavily in research and development to launch advanced products.
- What specific segmentation details are covered in the automotive electric vacuum pump market report, and how is the dominating segment impacting the market growth?
- In the type segment, diaphragm pumps accounted for the largest market share in 2022 as diaphragm pumps operate via a horizontal fluid flow path that provides a more energy-efficient and less friction-loss fluid path. The frictionless fluid path results in low energy costs, reduced maintenance, and increased longevity of the vehicle.
- What specific segmentation details are covered in the automotive electric vacuum pump market report, and how is the fastest segment anticipated to impact the market growth?
- In the sales channel, the aftermarket is expected to witness the fastest CAGR as aftermarket electric vacuum pump products cater to various needs of the consumers including customization, upgradation, and replacement of existing mechanical vacuum pumps.
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