Dublin, Oct. 13, 2023 (GLOBE NEWSWIRE) -- The "Global Automotive Vacuum Pump Market Report and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global automotive vacuum pump market is poised for substantial growth, driven by key trends in the automotive industry. According to a recent report, the automotive pump market is expected to grow at a CAGR of approximately 6.5% during the forecast period of 2023-2028.
Automotive vacuum pumps are crucial components used in various vehicles to enhance braking system performance and efficiency by removing gas molecules and creating a vacuum. Their significance in modern vehicles, spanning from passenger cars to heavy-duty trucks, has become undeniable as the automotive industry continues to evolve.
One of the primary drivers behind the growing demand for automotive vacuum pumps is the automotive industry's relentless pursuit of enhanced vehicle safety. As vehicle manufacturers strive to deliver superior brake performance, vacuum pumps have become indispensable, especially in modern turbocharged engines where consistent vacuum levels are vital for efficient brake operations.
Reducing vehicular emissions is another prominent trend in the automotive industry. As global regulatory bodies enact stricter emission standards, automakers are under pressure to innovate and optimize vehicle components for better fuel efficiency and reduced carbon footprints. Automotive vacuum pumps play a quintessential role in improving engine efficiency in this context.
Importantly, vacuum pumps are not limited to combustion engine vehicles. The rapid growth of the electric vehicle (EV) segment has introduced a new avenue for the vacuum pump market. Unlike traditional combustion engines, EVs require integrated vacuum pumps to support braking systems and other functions due to the absence of natural vacuum generation.
Technological advancements are leading to more compact, efficient, and noise-reduced automotive vacuum pumps, aligning with the evolving requirements of modern vehicles. Additionally, the automotive industry's focus on lightweight vehicle components to enhance fuel efficiency further drives demand for innovative vacuum pump solutions. The Asia Pacific region holds a significant share of the automotive vacuum pump market.
Market Segmentation
The global automotive vacuum pump market is segmented based on several factors, including:
Type
- Electric
- Mechanical
Vehicle Type
- Passenger Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Sales Channel
- Aftermarket
- OEM
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The report provides insights into the market shares, plant turnarounds, capacities, investments, mergers, and acquisitions of leading companies in the global automotive vacuum pump market. Some of the major players profiled in the report include:
- HELLA GmbH & Co. KGaA
- Rheinmetall Automotive AG
- Continental AG
- MS Motorservice International GmbH
- Robert Bosch GmbH
- Youngshin Precision, Co. Ltd
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 180 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $18.33 Billion |
| Forecasted Market Value (USD) by 2028 | $25.12 Billion |
| Compound Annual Growth Rate | 6.5% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/e06huf
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