As per the latest research report titled ‘Europe Automotive Electric Vacuum Pump Market Forecast 2027 By Vehicle, By Application, By Propulsion Type, By Sales Channel, Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, Europe automotive electric vacuum pump market is estimated to garner a remuneration of USD 260 million by 2027.

Government-backed incentives to endorse the manufacturing of electric vehicles, increasing investment in developing electric charging and hydrogen filling stations, and a growing preference for low emission transportation have all contributed to the significant growth of Europe automotive electric vacuum pump market.

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Based on the propulsion type, the industry is bifurcated into EV and ICE. Among these, the EV segment is estimated to account for USD 40 million by 2027, owing to the favourable government subsidies, and introduction of a number of new hybrid & electric automobile models.

Speaking of the vehicle outlook, the market is segmented into HCV (heavy commercial vehicle), LCV (light commercial vehicles), and passenger cars.

As per the report, the market classification in terms of application comprises brake, and engine applications. Among these segments, Europe automotive electric vacuum pump market share from the brake application surpassed 2 million units in the year 2020 and is expected to grow substantially through 2027. This is attributable to several technological advantages like excellent efficiency in terms of emissions. Also, electric vacuum pumps do not require lubrication, reducing strain on the engine lubrication system.

Moving on to the sales channel, the market is classified into OEM and aftermarket. The OEM segment is anticipated to value more than USD 245 million by 2027. Parallelly, the aftermarket segment is expected to generate USD 10 million in revenue by 2027, owing to the  aging fleet that require repairs and increasing automobile sales. Furthermore, with improved environmental conscience, people are replacing electric chips and catalytic converters of old cars to improve fuel efficiency.

Speaking of the competitive landscape, companies such as GZ Motorsports, Continental AG, WABCO Vehicle Control Systems, Hella KGaA Hueck & Co., Rheinmetall Automotive, BASF SE, LPR Global Inc., and Robert Bosch GmbH are influencing Europe automotive electric vacuum pump industry trends.