USD 12.2 billion
Report ID: SQSG25A2012 | Region: Global | Published Date: November, 2022 | Pages: 165 | Tables: 89 | Figures: 76
Automotive Electric Fuel Pumps Market size was valued at USD 12.2 billion in 2021 and is poised to grow from USD 12.9 billion in 2022 to USD 21.24 billion by 2030, growing at a CAGR of 5.70% in the forecast period (2023-2030).
An electric fuel pump is one of the most important parts of a car since it is used to feed gasoline from the tank into the engine. During the projection period, it is anticipated that rising passenger car production and demand in developing nations like India, China, and Indonesia will fuel market expansion. Over time, automotive electric fuel pumps progressed from having basic mechanical functions to being electrically controlled. Due to an improved fuel efficiency and the adoption of cutting-edge technology for better vehicle performance, the use of electrical injectors has significantly increased as compared to their mechanical counterparts.
Additionally, the market has seen fuel injection engines take the role of carburettor-based engines, eliminating the need for mechanical pumps. Electronic fuel pumps have many advantages over mechanical fuel pumps, including greater fuel efficiency, increased durability, reliability, and body-borne noise reduction abilities. Electric pumps are expected to become more and more important as a result of their improved capacity to push gasoline to the engine.
When evaluating the engine's operating conditions, a well-functioning pump is used to provide the appropriate amount of oil while maintaining ideal pressure between the carburettor and pump to reduce overheating and prevent vapour lock. Over the projected period, it is anticipated that the aforementioned factors will increase demand for vehicle electric fuel pumps.
The protection of pumps from gasoline vapour, reduced electrical load, prolonged pump life, and decreased risk of boiling all contribute to a lower risk of explosion, which further stimulates the global market. Furthermore, the global automobile industry's landscape is probably going to change as a result of developing technology in the automotive industry.
US Automotive Electric Fuel Pumps Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 12.2 billion
Light Commercial Vehicles
Light Commercial Vehicles
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The global automotive electric fuel pumps market is segmented based on product type, application, technology and region. Based on product type, the market is segmented into brushed DC, brushless DC. Based on application the market is segmented into passenger cars, light commercial vehicles, heavy commercial vehicles. Based on technology, the market is segmented into turbine style, sliding vane, roller vane. Based on region the global market segmentation spans North America, Europe, Asia-Pacific, South America, and MEA.
Automotive Electric Fuel Pumps Market Analysis by Type
Due to its widespread usage in heavy commercial and passenger vehicles to reduce anomalous wear caused by high spark discharges, the brushed DC category made up over 67% of the automotive electric fuel pumps market in 2022.
Electric gasoline pumps for vehicles often employ brushless DC motors because they offer a number of advantages over conventional motors, such as a higher torque-to-weight ratio, longer product life, enhanced dependability, and improved electricity conducting efficiency. Therefore, it is anticipated that brushless DC motors will advance the most quickly during the projected period.
Automotive Electric Fuel Pumps Market Analysis by Application
In 2022, more than 60% of automotive electric fuel pumps market income came from passenger cars. This might be due to rising passenger vehicle production and demand in developing nations like India, China, and Brazil. Government laws that are strict on low-emission automobiles and standards like EURO 6 will further support the segment's growth. As a result, the passenger car category has a substantially bigger market share in terms of value than the other vehicle segments in the market for automotive pumps. During the projection period, the light commercial vehicle segment is anticipated to increase gradually.
The COVID-19 effect on passenger cars showed a favourable response as people all across the world are choosing private vehicles over public transportation. In addition, the demand for heavy commercial vehicles (HCVs) in developing nations is expected to expand quickly due to rising industrialization and the expansion of the construction industry throughout the course of the projected period.
Automotive Electric Fuel Pumps Market Analysis by Technology
Over 69% of the total income in 2022 came from the turbine-style category. During the forecast period, it is predicted to have a CAGR of 7.8%. Due to its improved operating capabilities at very high speeds of around 7000 rpm and lower current drawing capabilities, as compared to the earlier version of the pumps, the segment's rise can be attributable to its rising use in the majority of newly made ICE vehicles.
Turbine electric fuel pumps also have additional advantages, such as accurate pressure measurement to deliver excellent performance, minimal noise emission, and ease of installation, which have contributed to the segment's domination in the global automotive electric fuel pumps market.
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In 2022, Asia Pacific led the automotive electric fuel pumps market in terms of value, holding a share of more than 59.0 %. Over the course of the forecast, it is anticipated to display the greatest CAGR.
One of the main development drivers for the regional market is the high demand for passenger cars and large commercial vehicles among consumers and industrial uses in important growing nations like India, China, and Korea. With a growing preference for the automobile pump, China is today regarded as the largest automotive market in the world. The country's quick improvement in hybrid automotive vehicles has created a shift away from new car sales that offers appealing market potential in China. Important automakers like Toyota, Hyundai, Honda, and Suzuki have also developed production facilities in APAC, which has lowered total car prices and increased passenger vehicle usage in the region.
The forecast period is expected to see unheard-of growth in the commercial vehicle and passenger car segments, with North America projected to experience the highest compound annual growth (CAGR) rate. This is a result of the region's expanding road infrastructure.
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Automotive Electric Fuel Pumps Market Driver
Compact Engines and Increased Vehicle Production to Boost Market Growth
Automotive Electric Fuel Pumps Market Restraint
Delayed Adoption of Technology Integrated Vehicles to Hinder Market Growth
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The existence of several international players defines the global market. To increase their market share, businesses use a variety of techniques, including partnerships, agreements, regional growth, mergers, acquisitions, and new product creation. In our Automotive Electric Fuel Pumps market reports.
Top Players in the Global Automotive Electric Fuel Pumps Market
Automotive Electric Fuel Pumps Market Recent Developments
Popularity of PHEV and Engine Downsizing will Shape Market’s Future
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According to the automotive electric fuel pumps market report analysis, during the projection period, increasing passenger car sales will fuel this segment growth. In terms of value, the passenger car sector held the biggest market share in 2022. As a result, the passenger car category has a substantially bigger market share in terms of value than the other vehicle segments in the market for automotive pumps. Players in the market will invest in R&D activities to launch IT integrated devices in the market. Collaborating with their end user will provide them with advantages over competitors.
|Market size value in 2021||USD 12.2 billion|
|Market size value in 2030||USD 12.9 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Automotive Electric Fuel Pumps Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Automotive Electric Fuel Pumps Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Automotive Electric Fuel Pumps Market is projected to reach USD 18.80 Billion by 2030, growing at a CAGR of 4.45% from 2022 to 2030.
The automotive market is increasingly demanding higher fuel efficiency, reduced CO2 emissions and improved reliability.The use of electric fuel pumps and integrating or substituting mechanical ones can help in addressing these needs, thanks to reduced friction, hydraulic losses, and power on-demand (i.e. the pump is actuated only when it’s really needed).
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