The new report by Expert Market Research titled, ‘Global Automotive Vacuum Pump Market Size, Share, Report and Forecast 2023-2028’, gives an in-depth analysis of the global automotive vacuum pump market, assessing the market based on its segments like type, vehicle type, sales channel and major regions like North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 6.5%
The market for automotive vacuum pump has seen substantial growth due to factors such as rising growth of the automotive sector and the increasing sales of passenger vehicles. Also, increased knowledge across different industries offers an enormous market opportunity for key players in the automotive vacuum pump market. In addition, the growing demand for high performance cars is also expected to encourage the growth of the industry.
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The production by different vehicle manufacturers of lightweight, fuel-efficient, and compact vehicles and the development of electric vacuum pumps with engine-independent vacuum generation for brake boosters are intended to fuel the industry. Other factors are also contributing to demand development, such as technical developments and the expansion of the automotive aftermarket industry.
The passenger vehicle segment is experiencing robust growth based on the type of vehicle and is expected to account for a significant share of the industry during the forecast period. The growth of the market is facilitated by the growing sales of passenger cars due to the increasing disposable income of consumers, particularly in emerging nations. Meanwhile, because of the growing adoption of light and heavy commercial vehicles in various industries and SMEs, commercial vehicles are expected to stimulate the growth of the automotive vacuum pump market in the forecast period.
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Automotive Vacuum Pump Industry Definition and Major Segments
A vacuum pump is a system that, by sucking air and its components, is used to remove gas molecules from a sealed volume. Its primary purpose is to create a partial capacity vacuum. These pumps support the operation of mechanical devices and are widely used, among others, in automotive accessories and braking systems. They are divided into various categories and used for different vacuum and displacement level specifications in different processes.
Based on the type, the industry is divided into:
- Electric
- Mechanical
Based on the vehicle type, the industry is divided into:
- Passenger Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Based on the sales channel, the industry is divided into:
- Aftermarket
- OEM
On the basis of regional markets, the industry is divided into:
1 North America
1.1 United States of America
1.2 Canada
2 Europe
2.1 Germany
2.2 United Kingdom
2.3 France
2.4 Italy
2.5 Others
3 Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 ASEAN
3.5 Others
4 Latin America
4.1 Brazil
4.2 Argentina
4.3 Mexico
4.4 Others
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.3 Nigeria
5.4 South Africa
5.5 Others
Automotive Vacuum Pump Market Trends
Geographically, due to the growing demand for and increased output of automobiles in the region, Asia Pacific accounts for a major share of the industry, which, in turn, is increasing the demand for automotive vacuum pumps at a rapid rate. OEMs in developing countries such as India and China are expected to raise production volumes to increase demand for automotive vacuum pumps. In addition, the rise in per capita income, low taxes on the purchase of vehicles and the establishment of improved production facilities in the area are also boosting the growth of the industry. Over the forecast era, the adoption by key players of advanced technologies and the growing emphasis on improving vehicle fuel efficiency are projected to increase demand for automotive electric vacuum pumps, thereby supporting the growth of the industry.
Key Market Players
The major players in the market are HELLA GmbH & Co. KGaA, Rheinmetall Automotive AG, Continental AG, MS Motorservice International GmbH, Robert Bosch GmbH, Youngshin Precision, Co. Ltd, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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