PUBLISHER: The Business Research Company | PRODUCT CODE: 1428147
PUBLISHER: The Business Research Company | PRODUCT CODE: 1428147
Automotive electric vacuum pumps are utilized in vehicles equipped with vacuum-operated systems, particularly in applications such as pneumatic brakes, to create vacuum pressure. These pumps are specifically engineered to reduce noise, often incorporating a suppressor within the engine to minimize sound.
Automotive electric vacuum pumps come in different types, including diaphragm, leaf, and swing piston types. Diaphragm-type pumps utilize a flexible diaphragm to generate vacuum pressure, typically employed in emission control systems. These pumps cater to a variety of vehicle propulsion types, ranging from electric vehicles (EVs) to internal combustion engines (ICE). Moreover, they are compatible with different vehicle categories such as passenger vehicles, light commercial vehicles, and heavy commercial vehicles, and are available through sales channels such as original equipment manufacturers (OEMs) and the aftermarket.
The automotive electric vacuum pump market research report is one of a series of new reports from The Business Research Company that provides automotive electric vacuum pump market statistics, including automotive electric vacuum pump industry global market size, regional shares, competitors with an automotive electric vacuum pump market share, detailed automotive electric vacuum pump market segments, market trends, and opportunities, and any further data you may need to thrive in the automotive electric vacuum pump industry. This automotive electric vacuum pump market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The automotive electric vacuum pump market size has grown rapidly in recent years. It will grow from $18.28 billion in 2023 to $20.53 billion in 2024 at a compound annual growth rate (CAGR) of 12.3%. The growth experienced in the historical period can be attributed to the implementation of stringent emission reduction regulations, the shift towards electric and hybrid vehicles, continual enhancements in automotive system performance, advancements aiming to reduce engine weight and size, and the integration of advanced safety features within automobiles.
The automotive electric vacuum pump market size is expected to see rapid growth in the next few years. It will grow to $31.19 billion in 2028 at a compound annual growth rate (CAGR) of 11.0%. The anticipated growth in the upcoming period can be linked to increased investments in sustainable automotive solutions, changing consumer preferences, the continual expansion of automotive electrification, and regulatory emphasis on enhancing vehicle safety standards. Notable trends expected in this period encompass the development of dual-function pump systems, the widespread adoption of regenerative braking systems, the customization of pump solutions tailored for electric vehicles (EVs), focus on silent operation and reduced vibration, as well as the creation of compact and modular pump designs.
The growth of the automotive electric vacuum pump market is anticipated to be propelled by the increasing adoption of electric vehicles. Electric vehicles, powered by electric motors drawing energy from batteries, have gained substantial traction, with sales doubling in 2021, reaching a record of 6.6 million, and a global fleet of approximately 16.5 million electric vehicles on the roads by the end of 2021, as reported by the International Energy Agency. In this context, automotive electric vacuum pumps play a crucial role in reducing the load on the engine lubrication system without a mechanical pump, enhancing engine efficiency, and enabling a more compact pump design. The surge in electric vehicle adoption significantly contributes to the growth of the automotive electric vacuum pump market.
An influential factor driving market growth is the increasing focus on autonomous vehicles. Autonomous vehicles, equipped with advanced technologies that enable them to operate without human intervention, depend on various systems to ensure safety and efficiency. Automotive electric vacuum pumps play a vital role in maintaining consistent and excellent braking performance in autonomous cars. As reported by G2.com Inc. in January 2022, the global self-driving vehicle industry is expanding at a remarkable 16% annual rate, with over 1,400 self-driving cars, trucks, and other vehicles undergoing testing in the United States alone. The increasing emphasis on autonomous vehicles, driven by advancements in technology and safety considerations, contributes to the growing demand for automotive electric vacuum pumps in the market.
Technological advancements are a prominent trend gaining traction in the automotive electric vacuum pump market, with major companies actively pursuing innovative technologies to meet specific demands and maintain their market positions. An illustrative example is Atlas Copco AB, a Sweden-based manufacturing company of vacuum pumps, which, in May 2022, launched the GHS VSD+ range of vacuum pumps. These pumps feature a revolutionary design aimed at improving performance, achieving superior oil division, reducing footprint, and introducing an innovative new regulator for Industry 4.0 readiness. The GHS 1402-2002 VSD+ utilizes a novel oil-injected screw element with compression optimization valves, enabling high pumping rates at low vacuum levels. Additionally, the pump is equipped with HEX@, Atlas Copco's groundbreaking vacuum controller, aligning it with Industry 4.0 standards and ensuring users are well-prepared for the digitization of industrial processes.
Major companies in the automotive electric vacuum pump market are adopting a strategic partnership approach, specifically in the context of electric vacuum pumps utilized in the braking systems of passenger cars. These partnerships focus on the development and manufacturing of electric vacuum pumps, critical components for both electric vehicles (EVs) and internal combustion engine (ICE) vehicles. In May 2022, Advik Hi-Tech, an India-based automotive parts manufacturing company, announced a technology licensing agreement with Entecnia Consulting, S.L., a Spain-based electric vehicle customization and design company. This strategic partnership accelerates Advik's ability to provide advanced technology in electric vacuum pumps to global passenger vehicle original equipment manufacturers (OEMs). The collaboration not only enhances Advik's product offering but also positions the company to cater to OEMs entering the electric vehicle field, contributing to the reduction of CO2 emissions for ICE cars. This strategic move is aligned with Advik's receipt of Production-Linked Incentive (PLI) for Automotive Parts, emphasizing its commitment to technological advancement and sustainability.
In February 2021, ADVIK Hi-Tech Private Limited (AHPL), an Indian automotive components manufacturing company, completed the acquisition of Hanon Bangalore Operations Pvt. Ltd. from Hanon Systems. The specific financial details of the transaction were not disclosed. This acquisition strategically positions AHPL to provide an extensive range of pumps, encompassing oil, water, and vacuum pumps, to cater to the needs of global vehicle manufacturers. Hanon Bangalore Operations Pvt. Ltd., based in India, specializes in manufacturing automotive pumps, including those for oil, water, and vacuum, designed for various vehicle manufacturers.
Major companies operating in the automotive electric vacuum pump market report are 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., TRICO Group, Holly Inc, Mikuni Corp., 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.
Asia-Pacific was the largest region in the automotive electric vacuum pump market in 2023. 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
The countries covered in the automotive electric vacuum pump market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The automotive electric vacuum pump market consists of sales of compact automotive electric vacuum pumps, high-power automotive electric vacuum pumps, and high-performance automotive electric vacuum pumps. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Automotive Electric Vacuum Pump Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automotive electric vacuum pump market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automotive electric vacuum pump ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The automotive electric vacuum pump market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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