Fuel Pumps Market Analysis, Segment, Trends and Forecasts To 2022: Grand View Research, Inc

Global fuel pumps market is expected to be driven by their increasing application in transportation on account of rising population and corresponding demand for automobiles. Fuel pumps have replaced conventional reliance on gravitational force for fuel injection to the vehicle engine. Technological developments and focused enhancement of engine speed and efficiency are further expected to complement global fuel pumps market growth. Fuel pumps can be categorized on the basis of product into turbo, electric and mechanical fuel pumps. Jet engines are mainly operated by turbo pumps and electric pumps are used in most modern automobiles. These fuel pumps are expected to witness significant growth on account of rising air passenger traffic and consequently growing commercial airliner’s demand.

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Strict governmental regulations encouraging the control of carbon emissions are also expected to be a major driving factor for efficient electric fuel pumps demand over the forecast period. Increased fuel efficiency also inversely impacts the maintenance costs of fuel pumps, which serves as another growth rendering factor for global fuel pumps market. Rising fuel prices are expected to provide imperatives to market participants to engage in R&D to improve efficiency of fuel pumps. Electric pumps are also less likely to develop external leakages, providing added advantage for their demand. Electric fuel pumps are also able to achieve high speed fuel injection under various climatic conditions, thus providing incentive to automotive consumers under all weather conditions. Few factors such as high installation costs, inaccessibility and complexity of fuel pumps are likely to hamper the growth of fuel pumps market. Electric and fire hazards are also key safety concerns that may negatively impact the development of global fuel pumps market.

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North America and Europe are pioneers in the fuel pumps market; followed by regions such as Asia and Middle East where automobile sector is witnessing a boom. Developing African nations are also likely to face significant development in fuel pumps market over the forecast period.

Major industrial leaders in global fuel pumps market include Robert Bosch GMbH, China Electronics Zhejiang Company, Farstar Auto Parts Co., Dense Auto Parts, EuroCar Parts and Great Plants Industries Ltd.

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