Published on : Dec 05, 2019
Electric vacuum pumps are generally used in automotive industry to supplement low engine power of vehicles with pneumatic boost for safe braking. Electric vacuum pumps tend to decrease the overall energy required by any vehicle and minimize the load on engine, consequently, improving the fuel economy of the vehicle. Accelerating demand of fuel-efficient vehicles boosts the global automotive electric vacuum pump market.
Global automotive electric vacuum pump market is estimated to amount to ?US$4Bn by the end of year 2027. The global market will expand at ?15% CAGR in the coming years owing to the increasing rate of electric vehicle’s adoption. The global vehicle production capacity has increased as the society has grown more dependent on vehicles. Increment in vehicle adoption along with growing awareness regarding vehicle safety increases the sales of brake boosters and brake systems, thereby propelling the global automotive electric vacuum pump market.
An intelligence report titled, “Automotive Electric Vacuum Pump Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027” is the source of all the stated insights. This report is the latest addition to Market Research Hub’s ever growing repository.
Asia Pacific leads market
The global automotive electric vacuum pump can be geographically segmented into different regions including North America, Asia Pacific, Latin America, Europe, Middle East and Africa. Asia Pacific acquired a larger share of the global market in the year 2018 owing to the presence of fleets of electric vehicles in China. North America and Europe are the other prominent regions in global market. Demand of electric vacuum pumps is rising rapidly in various regions including Germany, Belgium, The Netherlands, the UK and Nordic countries for their enhanced rate of electric vehicle’s adoption.
Major stake holders profiled in global automotive electric vacuum pump market include Continental AG, Magna International Inc., Rheinmetall Automotive AG, Youngshin Precision, Robert Bosch GmbH, YT STABLE TECH and HELLA GmbH & Co.
Global automotive electric vacuum pump market: Report Synopsis
Quantitative and qualitative assessment exhort intelligence and overarching report on the Global automotive electric vacuum pump market. Further, the report thoroughly delineates various aspects of the market that will potentially have considerable influence on the development of the Global automotive electric vacuum pump market. As such, those aspects incorporate drivers, trends, restraints, and opportunities. Furthermore, the report elucidates segregation of the market that provides an exhaustive analysis on automotive electric vacuum pump.
An insightful and deep-dive assessment of the competitive assessment of the Global automotive electric vacuum pump market pins hope on Porters’ Five Force Analysis. Accordingly, the Porters’ Five Force Analysis offers a pressing analysis on the potential strategies of the preeminent players in the Global automotive electric vacuum pump market. In addition, the business strategies counts on company overview, product portfolio, SWOT analysis, key differentiation and recent development.
Global automotive electric vacuum pump market: Research Methodology
Primary sources and secondary sources propel intelligence report on Global automotive electric vacuum pump market that provide deep dive analysis on the market. As such, the report provides reliable and unbiased projections, and assessments which have palpable impact on the market size and historical data. Besides, the report also counts on primary sources which hinges upon in-depth and intelligent analysis from well-grounded and reliable experts, telephonic interview, and a thorough assessment from surveys and seasoned analyst.
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