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Automotive Electric Vacuum Pump Market Size

Report ID: GMI5009
Published Date: Mar 2023
Report Format: PDF

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Automotive Electric Vacuum Pump Market Size

Automotive Electric Vacuum Pump Market size surpassed USD 1 billion in 2022 and is expected to register 3.3% CAGR from 2023 to 2032.

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The growing number of passenger vehicle sales is estimated to have a positive influence on the industry outlook. Due to the increasing concerns over the worsening air quality, governments worldwide are imposing stringent vehicular emission guidelines to minimize tailpipe unburned hydrocarbons, nitrogen oxides, and particulate matter. Gasoline Direct Injection (GDI) engines provide the perfect balance of fuel efficiency, strong power output, and improved vehicle performance at reasonable pricing. Increasing use of direct fuel injection technology in gasoline vehicles would influence the demand for electric vacuum pumps.

Automotive Electric Vacuum Pump Market Report Attributes
Report Attribute	Details
Base Year:	2022
Automotive Electric Vacuum Pump Market Size in 2022:	USD 1.1 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	3.4%
2032 Value Projection:	USD 1.8 Billion
Historical Data for:	2018 to 2022
No. of Pages:	400
Tables, Charts & Figures:	294
Segments covered:	Application, Vehicle, Propulsion Type, Sales Channel and Region
Growth Drivers:	Growing inclination to adopt sustainable solutions Favorable government efforts to adopt zero emission buildings Surging requirement for cooling solutions across hot climate regions Rising demand for advanced metering solutions
Pitfalls & Challenges:	Technical limitations during extreme weather conditions

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High product costs in comparison to other automotive parts may have an impact on the automotive electric vacuum pump market growth. These pumps operate continuously in vehicles while valves regulate the necessary vacuum. Given to this, the energy costs and electricity utilization can be really high. The pumps are expensive to purchase initially and need constant maintenance. The fluctuation in raw material costs and supply chain uncertainty can be blamed for a rise in the price of the product.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of automotive electric vacuum pump surpassed USD 1 billion in 2022 and is expected to register 3.3% CAGR from 2023 to 2032, explains GMI report.

Automotive electric vacuum pump industry from the ICE propulsion segment is anticipated to exceed USD 1 billion by 2032 as the demand for passenger and commercial cars rises.

The APAC automotive electric vacuum pump industry size is poised to observe 3.5% growth during 2023 to 2032 due to its extensive automobile production.

Tuopu Group, Youngshin Precision, Co. Ltd., Nagman, HELLA GmbH & Co. KGaA, Continental AG, Johnson Electric, Lvxiang Electric Vehicle Co., Ltd., and YT STABLE TECH are some of the leading players in the competitive landscape.