Automotive Electric Fuel Pumps Market to Grow with a CAGR of 9.28% through 2028
The increasing vehicle production, growing demand for
fuel-efficient vehicles, and stringent emission regulations are the factors
driving market in the forecast period 2024-2028
According to TechSci Research report, “Automotive
Electric Fuel Pumps Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Automotive Electric Fuel
Pumps Market stood at USD 13.83 Billion in 2022 and is anticipated to grow with
a CAGR of 9.28% in the forecast period, 2024-2028 The global automotive
electric fuel pumps market has witnessed significant growth in recent years,
driven by various factors such as increasing vehicle production, rising demand
for fuel-efficient vehicles, and stringent emission regulations. Electric fuel
pumps play a crucial role in delivering fuel from the fuel tank to the engine,
ensuring optimal performance and efficiency. One of the key drivers of the
market is the growing demand for fuel-efficient vehicles. With the increasing
concerns over environmental pollution and the need to reduce carbon emissions,
automakers are focusing on developing vehicles that offer better fuel
efficiency. Electric fuel pumps are more efficient compared to traditional
mechanical fuel pumps, as they provide a consistent and precise fuel supply,
resulting in improved fuel economy and reduced fuel consumption.
Moreover, stringent emission regulations imposed by
governments across the globe are also driving the market. Governments are
implementing strict emission standards to reduce pollution and promote cleaner
fuels. Electric fuel pumps help in achieving these emission targets by ensuring
efficient fuel delivery and reducing fuel wastage. Furthermore, technological
advancements in electric fuel pump systems are also propelling the market
growth. Manufacturers are investing in research and development activities to
enhance the performance and reliability of electric fuel pumps. The introduction
of advanced features such as variable speed control, intelligent fuel pressure
regulation, and integrated fuel management systems is further driving the
demand for electric fuel pumps.
The market is also influenced by the increasing
adoption of electric vehicles (EVs). EVs require electric fuel pumps to deliver
fuel from the battery to the electric motor. As the adoption of EVs continues
to rise, the demand for electric fuel pumps is expected to grow significantly.
Additionally, the expansion of the automotive
aftermarket plays a crucial role in the sales of automotive electric fuel
pumps. As vehicles age, the need for replacement parts, including fuel pumps,
increases. The expansion of the automotive aftermarket, driven by the growing
vehicle parc and the increasing average age of vehicles, is expected to drive
the demand for electric fuel pumps in the aftermarket segment. Manufacturers
are focusing on providing high-quality aftermarket products and strengthening
their distribution networks to cater to this growing demand.
Growing awareness among consumers about the importance
of fuel efficiency is also driving the demand for automotive electric fuel
pumps. Consumers are becoming more conscious of their fuel consumption and are
actively seeking vehicles that offer better fuel economy. Electric fuel pumps,
with their ability to provide precise fuel delivery, are seen as a key
component in achieving better fuel efficiency.
In conclusion, the global automotive electric fuel
pumps market is witnessing significant growth driven by factors such as
increasing vehicle production, growing demand for fuel-efficient vehicles,
stringent emission regulations, technological advancements, the adoption of
electric vehicles, the expansion of the automotive aftermarket, and growing
consumer awareness about fuel efficiency. Manufacturers are focusing on
developing advanced electric fuel pump systems to meet the evolving market
demands and contribute to a more sustainable automotive industry.
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The North American region has a well-established
automotive industry and is a significant market for automotive electric fuel
pumps. The region is witnessing steady growth due to factors such as increasing
vehicle production, rising consumer demand for fuel-efficient vehicles, and
stringent emission regulations. The United States and Canada are the major
contributors to the market in this region. Additionally, the presence of key
automotive manufacturers and technological advancements in the region further drive
the market growth.
Europe: Europe is another prominent market for
automotive electric fuel pumps. The region has stringent emission regulations
and a strong focus on reducing carbon emissions. This drives the demand for
fuel-efficient vehicles and advanced fuel delivery systems, including electric
fuel pumps. The European automotive industry is known for its innovation and
technological advancements, which further contribute to the adoption of
electric fuel pumps. Additionally, the increasing popularity of electric vehicles
in countries like Germany, Norway, and the Netherlands drives the market growth
in Europe.
Asia Pacific: The Asia Pacific region is witnessing
rapid growth in the automotive industry, driven by factors such as increasing
population, rising disposable income, and urbanization. Countries like China,
India, and Japan are major contributors to the automotive electric fuel pumps
market in the region. The demand for fuel-efficient vehicles, government
initiatives promoting electric mobility, and the presence of a large consumer
base are key factors driving the market growth in Asia Pacific. Additionally,
the region is a manufacturing hub for automotive components, including electric
fuel pumps, due to cost advantages and technological capabilities.
Latin America: Latin America is an emerging market for
automotive electric fuel pumps. The region has a growing automotive industry,
driven by increasing vehicle production and rising consumer demand. The demand
for fuel-efficient vehicles and compliance with emission regulations are key
factors driving the adoption of electric fuel pumps in the region.
Additionally, government initiatives promoting clean energy and the adoption of
electric vehicles contribute to the market growth in Latin America.
Middle East and Africa: The Middle East and Africa
region have a smaller share in the global automotive electric fuel pumps
market. However, the region is witnessing growth due to increasing vehicle
sales and the adoption of fuel-efficient technologies. The demand for electric
fuel pumps is driven by factors such as rising disposable income, urbanization,
and government initiatives promoting sustainable transportation.
In summary, the global automotive electric fuel pumps
market exhibits regional variations based on factors such as emission
regulations, vehicle production, consumer preferences, and government
initiatives. Each region presents unique opportunities and challenges for
market players, and understanding regional insights is crucial for strategic
decision-making and market expansion.
Major companies operating in Global Automotive
Electric Fuel Pumps Market are:
- Delphi Automotive PLC
- Federal-Mogul Corporation
- General Motors Company
- AC Delco
- Visteon Corporation
- Daewha Fuel Pump Ind. Ltd
- Denso Corporation
- Robert Bosch
- Continental AG
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“The global Automotive Electric Fuel Pumps Market is poised for
significant growth in the coming years. The increasing focus on sustainability,
government regulations promoting renewable fuels, and advancements in biofuel
production technologies are driving the market's expansion. Additionally, the
growing demand for alternative energy sources and the need to reduce carbon
emissions in the transportation sector further support the adoption of
automotive biofuels,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“Automotive Electric Fuel Pumps Market – Global
Industry Size, Share, Trends Opportunity, and Forecast, Segmented By Product Type (Brushed
DC, Brushless DC), By Vehicle Type (Passenger Cars, Lightweight Commercial
Vehicles, Heavy Weight Commercial Vehicles), By Technology (Turbine Style, Sliding Style, Roller Vane), By Region, Competition, 2018-2028”, has evaluated
the future growth potential of Global Automotive Electric Fuel Pumps Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Automotive Electric Fuel Pumps Market.
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