Market Insight
Market Research Future, in its latest study, summed evidently that the global fuel pump market size 2020, could spectate much bigger stability from the years 2017–2023. In these years, the market’s potentiality might elevate at ~7.14% CAGR, with a high market valuation. It could be the grand achievement of the market to observe the future COVID 19 pandemic across the world.
Automotive fuel pumps execute an integral function within engines and enhance its efficiency and enable a smooth run of the vehicle. The fuel pump in vehicles works competently, transmitting the engine performance to the vehicle engine. The fuel pump market size is primarily influenced by definite growing factors. Some of them are increasing sales of new vehicles, low emission & higher fuel efficiency, technological advancements, stringent government regulations on reducing vehicles emission and emerging economies.
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Major Key Players
Continental AG (Germany)
Denso Corporation (Japan)
Delphi Automotive (UK)
Robert Bosch (Germany)
Hitachi Ltd (Japan)
Infineon Technologies (Germany)
Schaeffler Group (Germany)
Johnson Electric (Hong Kong)
Mitsubishi Electric (Japan)
Valeo (France)
MAHLE GmbH (Germany)
Cummins, Inc (U.S.).
Market, By Application
Direct Injection System
Multi-Point Fuel Injection System
Market, By Pressure
Low Pressure
High Pressure
Market By Vehicle Type
Passenger cars
Light Commercial Vehicles
Heavy Commercial Vehicles
Market By Type
Common Rail fuel pump
Rotary fuel pump
Market, By Region
North America
Europe
Asia Pacific
Rest of The World (RoW)
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MRFR further digs that the noteworthy augment in the sales of vehicles, owing to better fuel efficiency and low emission control is exceedingly anticipated to motivate the global fuel pump market size. In fact, sizeable growth in the Asian & European automotive sector and technological advancement in traditional automotive fuel pump will create a remarkable opportunity for the global fuel pump market size in the future.
Market Drivers & Trends
The global fuel pump market size has been intensifying where its focus is on emission control and fuel efficiency. The manufacturers of the automotive industry have been now extra focused on apprising the technology for better fuel efficiency and low emission control. Automotive fuel pumps perform an essential function in the engines and enhance their ability and enable a smooth run of the vehicle. Due to these factors, the global market for fuel pump market size is gaining the maximum traction over the forecast period.
The fuel pump in vehicles is known for working efficiently and transmits the engine performance to the vehicle engine. The global fuel pump market size is mainly influenced by growth factors such as low emission & higher fuel efficiency, surging Market of new vehicles, strict government regulations on reducing vehicles emission, technological advancements and emerging economies.
On the flip side, a significant hindrance to the growth of the market could be the surging penetration of electric vehicles. With this, the increasing demand for gasoline engine vehicles and escalating disposable income might create major market opportunities for the future.
Furthermore, the expansion in the utilization of ethanol fuel in the automotive sector is highly probable to enhance the demand for automotive fuel pump. All the above mentioned vital influencing factors are highly anticipated to push the global fuel pump market size over the forecast period.
On the contrary, one of the restraining factors, such as mounting penetration of electric vehicles, might restrict the global fuel pump market size growth over the assessment period.
Geologically, the global fuel pump market size has covered the significant regions of North America, Europe, Asia Pacific, and Rest of the World.
Among these regions, the Asia Pacific region led the global market owing to the driving factors such as rising disposable income, strict regulation on vehicle emission, and mounting new vehicle registration. During the last few years, APAC sold the highest number of vehicles, where countries such as Japan, China, and Indonesia, contribute majorly. Furthermore, the increasing demand for passenger vehicles has become a foremost driving factor for the APAC region.
North America is the second leading region by revenue generation. Europe holds the third leading regional position.
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