Global Automotive Electric Fuel Pumps Market

Global Automotive Electric Fuel Pumps Market Size, Share, Growth Analysis, By Product Type(Brushed DC, Brushless DC), By Application(Passenger Cars, Light Commercial Vehicles), By Technology(Turbine Style, Sliding Vane) - Industry Forecast 2024-2031

Report ID: SQMIG25A2153 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 89 | Figures: 76

Global Automotive Electric Fuel Pumps Market Regional Insights

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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FAQs

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).

Automotive Electric Fuel Pumps Market size was valued at USD 12.2 billion in 2019 and is poised to grow from USD 12.9 billion in 2023 to USD 21.24 billion by 2031, growing at a CAGR of 5.70% in the forecast period (2024-2031).

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.  'Aisin Seiki Co. Ltd.', 'Denso Corporation', 'Continental AG', 'Delphi Technologies', 'Robert Bosch GmbH', 'Hitachi Automotive Systems', 'Johnson Electric Holdings Limited', 'Mikuni Corporation', 'Magneti Marelli S.p.A.', 'TI Automotive', 'SHW AG', 'Spectra Premium Industries', 'AC Delco', 'Carter Fuel Systems', 'Walbro Corporation', 'GMB Corporation', 'Visteon Corporation', 'Valeo SA', 'HELLA GmbH & Co. KGaA', 'Mitsubishi Electric Corporation'

The market for automotive electric fuel pumps is expected to grow at a high rate due to the trend toward smaller engines, rising vehicle production, and rising passenger vehicle demand. The automobile electric fuel pumps market is being restrained by the rise in fuel prices and the popularity and use of electric vehicles. 

Engine downsizing, which utilises advanced technologies like turbochargers, superchargers, and direct injection, is one of the most current trends in the automotive industry. OEMs are placing more and more emphasis on adopting compact engines that have power on par with or more than the current engines. Smaller engines contribute to a lighter overall vehicle, which increases the fuel efficiency of both gasoline and diesel engines.

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.

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Global Automotive Electric Fuel Pumps Market

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