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), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trend

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), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Landscape & Forecast, 2023 - 2032

Automotive Electric Vacuum Pump Market is expected to grow considerably through 2032 owing to the increasing production and sales of passenger vehicles due to their attractive appearance, compact size, and low costs. In addition, increasing adoption of EVs worldwide owing to several initiatives taken by the government and support for enhancing the environmental quality to alleviate the dependence on oil will positively favor the industry outlook over the coming years.

Overall, the automotive electric vacuum pump industry is segmented in terms of propulsion type, vehicle, application, sales channel, and region.

Based on propulsion type, the EV segment will gain prominence globally during the estimated time. Various central governments are encouraging automakers to invest in the development of electric cars to reduce the carbon emissions generated by burning diesel fuel. Moreover, favorable incentives and other programs for battery electric vehicle manufacturing will boost the EV segment growth through 2032.

By vehicle, the LCV segment is expected to depict over 2.5% CAGR through 2032. The increased product demand will be attributed to the constant expansion of public transportation in emerging countries for sustainable development. Besides, increasing regulations set by the government to reduce CO2 emissions in vans and pickup trucks will also increase the demand for automotive electric vacuum pumps.

Considering the application, the engine vehicle segment will grow considerably through 2032, owing to the stringent norms imposed by the government to reduce CO2 emissions. Besides, the thriving vehicle sales coupled with the economic developments in countries such as China, India, Japan, South Korea, and Indonesia will support industry growth.

Based on the sales channel, the aftermarket segment is anticipated to be valued at over USD 75 million by 2032. The increasing implementation of vacuum pumps for supporting a flexible vehicle platform concept will favor the industry expansion. In addition, periodic product replacements for ensuring vehicle safety and reducing carbon emissions will also assist the segmental growth.

Regionally, the North America automotive electric vacuum pump market is expected to hold over USD 235 million business share by 2032. Increasing sales of luxury vehicles coupled with the growing disposable incomes in developed economies will enhance the regional market share. In addition, U.S. and Canada’s automotive industries account for the major number of luxury vehicle sales globally, contributing to increased product penetration.