Published Date: 2021-09-06
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APAC Automotive EVP (Electric Vacuum Pump) Market size is poised to surpass USD 621.35 million by 2027, according to a latest forecast report by Graphical Research. Asia Pacific leads the automotive production across the globe. As the electric vacuum pump industry is directly proportional to automotive demand, the demand for electric vacuum pumps in this region is growing rapidly.
Stringent government regulations to contain severe emissions will drive the development of fuel-efficient and compact vehicles, which will propel the demand for electric vacuum pumps in the automotive industry. In addition, increased investments in the research & development of electric vacuum pumps by major players and governments around the world will promote the market growth.
The pandemic caused by the outbreak of COVID-19 disrupted the production & supply chain and severely affected product demand. The halt in production and exemptions introduced at the national level have significantly slowed automotive EVP market growth. The industry is anticipated to recover at an encouraging growth rate in 2021 and will showcase strong growth by 2027.
The braking segment will observe around 4.5% CAGR through 2027. Electric vacuum pumps are ideal brake boosters for pneumatic and hydraulic brakes. A 5 cc electric vacuum pump weighs only one kilogram and 10 cc electric vacuum pumps weigh 2.2-kilograms. These pumps include a motor and an attached vacuum switch. These electric vacuum pumps are specially developed to minimize noise and include a silencer installed in the motor to control the negative pressure, ensuring passenger safety.
Browse detailed statistical insights from the report, “Asia Pacific Automotive Electric Vacuum Pump Market Forecast 2027 By Propulsion Type (ICE, EV), By Application (Brake, Engine), By Vehicle (Passenger Cars, LCV, HCV), By Sales Channel (OEM, Aftermarket), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The ICE segment will witness significant growth as the electric vacuum pump is capable of continuous operation, maintenance-free, and is adjustable in any direction. It can be used as a main vacuum servo system in the EV/FCEV hydraulic brake system and as an auxiliary accessory in ICE/Hybrid vehicles. Furthermore, it can be used as a vacuum assistance clutch in buses and trucks with superchargers.
The HCV segment will witness a CAGR of 6.5% from 2021 to 2027. With the growth in tourism and an increase in global construction & logistics, the demand for heavy commercial vehicles will propel during the forecast period. For instance, in India, the sales of heavy-duty trucks reached a record 351,128 units in September 2019, an increase of 15% from the previous year, i.e., 304,313 units. Furthermore, the increasing consumer disposable income, especially in developing countries, will boost the growth of passenger car sales, driving the market growth. At the same time, commercial vehicles are expected to promote the automotive EVP market growth by increasing the acceptance of light and heavy commercial vehicles in various industries and small & medium enterprises during the forecast period.
The aftermarket segment will generate over USD 20 million by 2027. The digitization of component sales & delivery services and the emergence of online portals that synchronize component sales with global auto supplier groups are expected to attract large investments from major players. Market-leading component suppliers, such as Auto Parts Network Corporation and CarParts.com, will drive the aftermarket demand in the next few years.
The APAC automotive EVP (Electric Vacuum Pump) market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2016 to 2027 for the following segments:
Asia Pacific Market, By Propulsion Type
Asia Pacific Market, By Vehicle
Asia Pacific Market, By Application
Asia Pacific Market, By Sales Channel
The above information has been provided for the following countries:
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