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Rising Production & Sales of New Vehicles Around the World is Likely to Drive the Global Automotive Vacuum Pump market at 8.6% CAGR during 2019 & 2024.

Global automotive vacuum pump market accounted for USD 7,684.5 million in 2018 and is estimated to reach USD 12,233.8 million in 2024, registering a compound annual growth rate (CAGR) of 8.6% between 2019 and 2024.

Growing Automotive Sector

The automotive sector is growing steadily at a global level. However, on a regional basis, the industry is witnessing remarkable growth in emerging markets such as China, Brazil & others. The production & sales of vehicles are rising enormously as the demand for passenger cars among the population is strengthening with time. The consumers have more buying power than ever before and are spending well on vehicles in order to improve their standard of living.

Rising Sales of Electric Vehicles

In recent years, electric vehicles have witnessed dynamic market uptake across the globe especially in countries such as China, France, Germany, and Norway. Further, ongoing electrification of vehicles coupled with the use of electric vacuum pumps in electric cars, recreational EV vehicles, hybrid cars, and other high-performance vehicles are expected to bolster the growth of automotive vacuum pump market in upcoming years.

Technological Advancements

In recent years, automotive vacuum pumps have gone through numerous technological advancements. The manufacturers are continuously advancing their products in order to improve their performance, durability and power efficiency. Further, rapidly changing automotive environmental policy is also making manufacturers t0 develop products that can fulfill meet strict new requirements. Also, the rising trend for powertrain electrification is another major factor which is likely to escalate the demand for electric vacuum pumps in upcoming years.

Growing Automotive Aftermarket Industry

Over the last decade, the automotive aftermarket industry has been growing remarkably parallel to the automotive industry. According to Automotive Aftermarket Products Expo (AAPEX), global automotive aftermarket industry has grown to USD 740 Billion. Since the average age of vehicles is increasing, the demand for automotive components including vacuum pumps in the aftermarket will also rise in the future.

Rising Demand for High-Performance Cars

Vacuum pumps eventually improve performance, durability and power efficiency of cars. Consumers with high net worth income these days are preferring high-performance vehicles. Manufacturers are also looking forward to integrating every possible technology to improve their vehicle’s performance in order to boost the company’s sales. Rising installation of vacuum pumps in passenger cars is likely to foster the growth of the global automotive vacuum pump market over the estimated period i.e. 2019-2024.

Barriers in Market

Although the sales of new vehicles are surprisingly rising across the globe, diesel vehicles market is witnessing continuous plummet in terms of sales and demand across the globe. Governments across the globe are more concerned about the environment and are implementing new and strict air quality and emissions standards to control pollution occurring from vehicles. Since diesel fuel contains slightly more carbon and due to this diesel engine cars are becoming responsible for carbon emission. Governments are promoting CNG & EVs and are encouraging consumers to adopt these vehicles over diesel cars. Many governments have also restricted the sales of those diesel vehicles that failed to meet the latest emissions standards. Since a diesel engine is a major application of automotive vacuum pumps and fall in sales of diesel vehicles is going to emerge as the major barrier in the growth of global automotive vacuum pump market in upcoming years.

The market of global automotive vacuum pump market will increase at a CAGR of 8.6% from USD 6,097.5 million in 2013 to 12,233.8 million in 2024. In 2017, total motor vehicle production reached 97.3 million and witnessed a growth of 2.36% over the past year. Further, rising affluent class population, growing demand for automotive, increasing transportation and logistics will lead to the growth of the market. The commercial vehicle market is expected to grow slightly in the upcoming years. The automotive industry is seeing strong investments which are expected to spur the growth of automotive vacuum pump market. Apart from this, the presence of a large fleet of vehicles on the road in the globe is spearheading current and future growth prospects. Further, growing automotive production will benefit the growth of automotive vacuum pump market.

With respect to application, the market is segmented into passenger cars, light commercial vehicle and heavy commercial vehicle, out of which, passenger cars segment shared approximately 59.2% of the global market in 2018. According to OICA, total passenger car production registers a growth of 1.5% and reached to 73.4 million units in 2017. Further, rising demand for vehicles in developing nations is driving the demand for various automotive components such as the vacuum pump. Further, it is anticipated that production and sales of electric passenger cars will increase at an exponential rate in the upcoming years. This will further fuel the growth of automotive vacuum pump market.  The global vacuum pumps for passenger cars market was valued at USD 4549.9 million in 2018 and is expected to reach USD 7,114.7 Million by the end of 2024, growing at a CAGR of 8.2% between 2019 and 2024.  The global vacuum pumps for passenger cars market contributed 59.2% in 2018 and is expected to occupy a 58.1% market share in 2024.

In terms of geography, the automotive vacuum pump market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Europe automotive vacuum pump market was held at USD 3,360.8 million in 2018 and is anticipated to reach USD 5,184.3 million by the end of 2024. Europe automotive vacuum pump market accounted for a market share of 43.7% in 2018 and further, is expected to stand at a market share of 42.5% by the end of 2024.

The key players profiled in the report include Rheinmetall Automotive AG, HELLA GmbH & Co. KGaA, WABCO, Mikuni Corporation, and other major key players. These market players have adopted different business strategies, such as acquisition, product launch, merger, and partnership to stay competitive in the global market. For instance, WABCO Holdings entered into a multi-year agreement to supply vacuum pumps across all Mahindra & Mahindra’s major engine platforms.

Vacuum pumps eventually improve performance, durability and power efficiency of cars. Consumers with high net worth income these days are preferring high-performance vehicles. Manufacturers are also looking forward to integrating every possible technology to improve their vehicle’s performance in order to boost the company’s sales. Rising installation of vacuum pumps in passenger cars is likely to foster the growth of the global automotive vacuum pump market over the estimated period i.e. 2019-2024.

Market Segmentation:

By Application
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles

Regional Markets
North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa

Research Methodology
Market Definition and List of Abbreviations
1. Executive Summary
2. Growth Drivers & Issues in Global Automotive Vacuum Pump Market
3. Global Automotive Vacuum Pump Market Value (USD Million), 2017-2023

4. Global Automotive Vacuum Pump Market Segmentation Analysis, By Application
4.1. Introduction
4.2. Passenger Cars Market Value (USD Million) Forecast, 2017-2023
4.3. Light Commercial Vehicles Value (USD Million) Forecast, 2017-2023
4.4. Heavy Commercial Vehicles Market Value (USD Million) Forecast, 2017-2023

5. Geographical Analysis
5.1. North America Market Value (USD Million) Forecast, 2017-2023
5.1.1. By Application
5.1.1.1. Introduction
5.1.1.2. Passenger Cars Market Value (USD Million) Forecast, 2017-2023
5.1.1.3. Light Commercial Vehicles Value (USD Million) Forecast, 2017-2023
5.1.1.4. Heavy Commercial Vehicles Market Value (USD Million) Forecast, 2017-2023
5.1.2. By Country
5.1.2.1. Introduction
5.1.2.2. U.S. Market Value (USD Million) Forecast, 2017-2023
5.1.2.3. Canada Market Value (USD Million) Forecast, 2017-2023

5.2. Europe Market Value (USD Million) Forecast, 2017-2023
5.2.1. By Application
5.2.1.1. Introduction
5.2.1.2. Passenger Cars Market Value (USD Million) Forecast, 2017-2023
5.2.1.3. Light Commercial Vehicles Value (USD Million) Forecast, 2017-2023
5.2.1.4. Heavy Commercial Vehicles Market Value (USD Million) Forecast, 2017-2023
5.2.2. By Country
5.2.2.1. Introduction
5.2.2.2. Germany Market Value (USD Million) Forecast, 2017-2023
5.2.2.3. United Kingdom Market Value (USD Million) Forecast, 2017-2023
5.2.2.4. France Market Value (USD Million) Forecast, 2017-2023
5.2.2.5. Italy Market Value (USD Million) Forecast, 2017-2023
5.2.2.6. Spain Market Value (USD Million) Forecast, 2017-2023
5.2.2.7. Russia Market Value (USD Million) Forecast, 2017-2023
5.2.2.8. Rest of Europe Market Value (USD Million) Forecast, 2017-2023

5.3. Asia Pacific Market Value (USD Million) Forecast, 2017-2023
5.3.1. By Application
5.3.1.1. Introduction
5.3.1.2. Passenger Cars Market Value (USD Million) Forecast, 2017-2023
5.3.1.3. Light Commercial Vehicles Value (USD Million) Forecast, 2017-2023
5.3.1.4. Heavy Commercial Vehicles Market Value (USD Million) Forecast, 2017-2023
5.3.2. By Country
5.3.2.1. Introduction
5.3.2.2. China Market Value (USD Million) Forecast, 2017-2023
5.3.2.3. India Market Value (USD Million) Forecast, 2017-2023
5.3.2.4. Japan Market Value (USD Million) Forecast, 2017-2023
5.3.2.5. South Korea Market Value (USD Million) Forecast, 2017-2023
5.3.2.6. Indonesia Market Value (USD Million) Forecast, 2017-2023
5.3.2.7. Taiwan Market Value (USD Million) Forecast, 2017-2023
5.3.2.8. Australia Market Value (USD Million) Forecast, 2017-2023
5.3.2.9. New Zealand Market Value (USD Million) Forecast, 2017-2023
5.3.2.10. Rest of Asia Pacific Market Value (USD Million) Forecast, 2017-2023

5.4. Latin America Market Value (USD Million) Forecast, 2017-2023
5.4.1. By Application
5.4.1.1. Introduction
5.4.1.2. Passenger Cars Market Value (USD Million) Forecast, 2017-2023
5.4.1.3. Light Commercial Vehicles Value (USD Million) Forecast, 2017-2023
5.4.1.4. Heavy Commercial Vehicles Market Value (USD Million) Forecast, 2017-2023
5.4.2. By Country
5.4.2.1. Introduction
5.4.2.2. Brazil Market Value (USD Million) Forecast, 2017-2023
5.4.2.3. Mexico Market Value (USD Million) Forecast, 2017-2023
5.4.2.4. Rest of Latin America Market Value (USD Million) Forecast, 2017-2023

5.5. Middle East & Africa Market Value (USD Million) Forecast, 2017-2023
5.5.1. By Application
5.5.1.1. Introduction
5.5.1.2. Passenger Cars Market Value (USD Million) Forecast, 2017-2023
5.5.1.3. Light Commercial Vehicles Value (USD Million) Forecast, 2017-2023
5.5.1.4. Heavy Commercial Vehicles Market Value (USD Million) Forecast, 2017-2023
5.5.2. By Geography
5.5.2.1. Introduction
5.5.2.2. GCC Market Value (USD Million) Forecast, 2017-2023
5.5.2.3. North Africa Market Value (USD Million) Forecast, 2017-2023
5.5.2.4. South Africa Market Value (USD Million) Forecast, 2017-2023
5.5.2.5. Rest of Middle East & Africa Market Value (USD Million) Forecast, 2017-2023

6. Competitive Landscape
6.1. Market Share of Key Players
6.2. Company Profiles*
6.2.1. Rheinmetall Automotive AG
6.2.2. HELLA GmbH & Co. KGaA
6.2.3. WABCO
6.2.4. Fuxin Dare Automotive Parts Co. Ltd.
6.2.5. Mikuni Corporation
6.2.6. Nabtesco Automotive Corporation
6.2.7. Ningbo Tuopu Group Co. Ltd.
6.2.8. Bosch Automotive Aftermarket
6.2.9. Magna International Inc.
6.2.10. Zhejiang VIE Science & Technology Co., Ltd.
6.2.11. Other Major & Niche Players

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