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The rapid adoption of electric vehicles has been providing momentum to the automotive vacuum pump market. The greater degree of vacuum pressure that can be provided with automotive vacuum pump in short time can support the improvement of vehicle performance. The advanced automotive vacuum pumps are also able to reduce the noise to a bare minimum level which enhances the comfort of the electric vehicles the automotive vacuum pump can also allow more fuel savings for the automotive by reducing the drivetrain resistance. These factors boost the demand for automotive vacuum pump industry.
In the vehicle type segment, passenger cars are one of the leading markets for automotive vacuum pump. The reason is attributed to the large demand and production for passenger cars especially in the developing regions with growing income levels and the strict government regulations for fuel efficiency. The pandemic has also led to more people opting for private vehicles instead of using the public transport systems because of the threat of virus transmission. The heavy commercial vehicle will also witness significant growth in the upcoming years owing to the swift expansion of transportation sector.
The key players in the market have been increasingly spending on the research and development to improve the product capabilities and better integrate it with the automotive. HELLA GmbH & Co. KGaA (OTCMKTS: HLLGY) is one of the major players in the automotive vacuum pump industry. In August 2019, HELLA announced the integration of LED headlamps and new electric vacuum pumps (UP5) to the electric vehicle in the new e.GO Life. The new generation electric vacuum pump will assist the braking function. The increasing development and usage of new automotive vacuum pump will propel the automotive vacuum pump in the forecasting years.
Market Analysis by Type, Vehicle Type, Sales Channel and Regions:
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The major players in the global automotive vacuum pump market are HELLA GmbH & Co. KGaA, Rheinmetall Automotive AG, Continental AG, MS Motorservice International GmbH, Robert Bosch GmbH and Youngshin Precision, Co. Ltd among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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