According to the research report titled ‘Asia Pacific Automotive Electric Vacuum Pump Market Forecast 2027 By Propulsion Type, By Application, By Vehicle, By Sales Channel, Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, Asia Pacific automotive electric vacuum pump market is anticipated to exceed a valuation of USD 620 million by the year 2027.
 

Report findings suggest that availability of a large number of actuators in vehicles with ADAS, electronic rear doors, and sunroofs is the major growth inducing factor for Asia Pacific automotive electric vacuum pump market.

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For the unversed, electric vacuum pumps have evolved largely as a result of global demand for green mobility solutions. Electric vehicles offer prospects to the automotive industry, charge point operators, and power suppliers, boosting the demand for product.

Growing regulations in order to reduce emissions have fuelled the development of fuel-efficient and compact vehicles, which in turn is impelling the industry trends.

Notably, the COVID-19 outbreak had hampered the global economic outlook, putting electric vacuum pump market on the back foot. However, growing government incentives and favourable business sentiment in the EV sector are expected to contribute to industry growth.

Moreover, rapid digitalization leading to reliance on e-commerce for component sales will accelerate the product supply & production, thus positively swaying the industry dynamics.

In terms of propulsion type, Asia Pacific automotive electric vacuum pump market is split into ICE, and EV. Among these, EV segment is slated to reach 2.5 million units by 2027, owing to strong government policies, alongside increasing production & sales of new electric vehicles.

Based on vehicle, the industry is branched into HCV, LCV, and passenger cars. Out of which, HCV segment is slated to grow with a CAGR of 6.5% through 2027, owing to flourishing tourism industry, and rising sales of heavy-duty truck in emerging economies.

On the basis of application ambit, the marketplace is bifurcated into brake, and engine. Among these, brake segment is poised to progress at a CAGR of 4.5% through 2027, on account of increasing demand for brake boosters, and growing popularity among EV manufacturers in prioritising effective braking systems.

Speaking of sales channel, the market is split into OEM and aftermarket. Out of which, OEM segment is expected to exceed a valuation of USD 595 million by 2027, due to incorporation of advanced technologies by original equipment manufacturers in order to improve fuel efficiency.

The key players in Asia Pacific automotive electric vacuum pump marketplace are Robert Bosch GmbH, Continental AG, LPR Global, GZ Motorsports, WABCO Holdings Inc., BASF SE, YT Stable Tech. Corp., and ixetic Bad Homburg GmbH.