Electric Fuel Pump Market | Contrive Datum Insights

The global Electric Fuel Pump market is projected to grow at a CAGR of 7.2% during th forecast period 2022 to 2030.

Electric Fuel Pump Market Overview:

Fuel pumps are components of an automobile engine used with fuel injection to pump fuel from the gas tank to the injectors. The pump is usually a part of the sending unit assembly that includes a float. Float sends an electrical signal to the fuel gauge on the instrument panel. Electric fuel pumps are usually mounted inside the fuel tank; however, some may be mounted outside the tank. Additionally, an electric fuel pump can be replaced as a separate item or as a complete module assembly. Therefore, fuel pump helps to push gasoline to the engine. These features lead to the growth of the electric fuel pump market in coming years.

Electric Fuel Pump market size estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Electric Fuel Pump market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and other global crisis.

Significant Electric Fuel Pump Market Dynamics and Growth Factors:

The significant factors that impact the growth of the automotive electric fuel pumps market are rise in trend of engine downsizing, increase in production of vehicles, and rise in demand for passenger vehicle. Moreover, growth in popularity & usage of electric vehicle and rise in fuel prices hamper the growth of the automotive electric fuel pumps market. Furthermore, technological advancements and mergers by international players to expand their customer base are expected to fuel the growth of the automotive electric fuel pumps market.

The Electric Fuel Pump market research report is categorized based on type, applications and region.

Market Key Players:
Airtex (USA), Denso (Japan), Delphi (Ireland), TI Automotive (USA), AC Delco (USA), Carter Fuel Systems (USA), MS Motorservice (Germany), Joinhands (China), Continental (Germany), Valeo (France), Bosch (Germany), and others.

By Type:

• Gasoline Fuel Pump
• Diesel Fuel Pump

By Application:

• OEM
• Aftermarket

By Region:

Geographically, the global Electric Fuel Pump market has been analysed in various regions such as North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA).

In terms of value, Asia Pacific was at the forefront of the market, with a share of over 57.0% in 2018. It is poised to exhibit the highest CAGR over the forecast period. Strong demand for passenger cars and heavy commercial vehicles among consumers and industrial applications across key developing countries, such as India, China, and Korea, is one of the primary growth stimulants for the regional market.

Moreover, key automobile manufacturers such as Toyota, Hyundai, Honda, and Suzuki, have established their manufacturing plants in APAC, leading to a reduction of overall vehicle prices and subsequently increasing passenger vehicle adoption across the region.

Further the regions are divided into countries as follows

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Market Dynamics:

Drivers:

Growing automotive industry: The electric fuel pump market is growing because more people are buying cars and trucks.

Strict rules from the government: Governments are putting in place strict rules to reduce emissions and improve fuel efficiency. This is creating a need for more efficient electric fuel pumps.

Progress in fuel pump technology: The growth of the electric fuel pump market is being driven by the development of new and advanced technologies like brushless motors, smart pumps, and high-pressure pumps.

Demand for electric fuel pumps is growing because more people are buying electric cars, which need electric fuel pumps to run.

Restraints:

High initial cost: Electric fuel pumps are expensive, and installing them takes a lot of money. This can make it hard for small and medium-sized auto companies to do business.

Electric fuel pumps don't work with all cars, and it can be expensive to make them work with older cars.

Market saturation: The market for electric fuel pumps is very competitive, and in some areas, the market may be full.

What COVID-19 means: The COVID-19 pandemic has messed up supply chains and decreased the number of cars on the road, which has hurt the market for electric fuel pumps.

Opportunities:

Adoption of fuel-efficient technologies: The demand for more efficient electric fuel pumps is being driven by the use of fuel-efficient technologies like hybrid engines and start-stop systems.

Demand for electric cars is growing: As the market for electric cars grows, it opens up new opportunities for companies that make electric fuel pumps.

Emerging markets: Because there are more cars being bought, the electric fuel pump market has a lot of room to grow in places like Asia-Pacific and Latin America.

Growth of aftermarket sales: As cars get older and need more replacement parts, the aftermarket sales of electric fuel pumps are likely to go up.

Electric Fuel Pump Market report scope

Key Takeaways from this Electric Fuel Pump Report

• Estimate Electric Fuel Pump market potential through analysing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
• Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
• Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
• Get a quick viewpoint on the Electric Fuel Pump market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
• Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
• Get complete insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
• Study the sales and distribution channels over key geographies to improve top-line revenues.

Frequently Asked Questions

At what CAGR is the Electric Fuel Pump market projected to grow in the forecast period 2022 to 2030?

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