As cited by the 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 expand significantly, amassing USD 260 million over 2021-2027.
 

Increasing demand for EVs, coupled with rising investments in research & development are the major factors driving Europe automotive electric vacuum pump market growth.
 

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Notably, the EU is one of the world's most prominent automakers, and the vehicle sector is a significant contributor to the GDP of European countries. Thus, increasing efforts towards bolstering the automotive sector are likely to stimulate the industry development in the upcoming years.
 

For the record, electric vacuum pumps have many technological benefits as compared to mechanically powered pumps. These are highly efficient in terms of emissions, leading to an increasing adoption in electric, ICE, and hybrid vehicles. Electric vacuum pumps can run without lubrication, decreasing the strain on the engine lubrication system.
 

Considering vehicle type, the marketplace is categorized into HCV (heavy commercial vehicle), LCV (light commercial vehicle), and passenger cars, whereas by application range, the business space is bifurcated into brake and engine.
 

Based on propulsion type, Europe automotive electric vacuum pump industry is segmented into EV and ICE. Among these, the EV segment is likely to amass USD 40 million over 2021-2027, owing to favorable government initiatives, and introduction of several new electric car and hybrid models.
 

Moving on to sales channel, the market is divided into aftermarket and OEM. Among these, OEM segment is reckoned to accumulate a value of USD 245 million over the assessment period, on account of rising preference towards low-emission commuting, growing government investments for construction of EV charging stations and hydrogen refueling stations and increasing governmental support for long-distance zero-emission vehicles.
 

Meanwhile, the aftermarket segment is anticipated to accumulate USD 10 million over the estimated timeline, owing to rising vehicle sales and aging fleet leading to increasing demand for aftermarket and repair services. Moreover, rising preference for environmentally friendly vehicles, is resulting into rising demand for replacement components, thereby propelling the segmental growth.
 

Leading players in Europe automotive electric vacuum pump industry are GZ Motorsports, Robert Bosch GmbH, Continental AG, LPR Global Inc., WABCO, BASF SE, Hella KGaA Hueck & Co., and Rheinmetall Automotive AG.