Automotive Electric Fuel Pump Market Outlook 2031:
The global automotive electric fuel pump market size was valued at USD 16.10 Billion in 2022 and is projected to reach USD 25.41 Billion by 2031, expanding at a CAGR of 5.2% during the forecast period 2023 - 2031. The growth of the market is attributed to rapid production and demand for passenger vehicles.
An automotive electric fuel pump is a device that uses electrical techniques to provide fuel in engine of the vehicle system. The electric fuel pump is a technology-based replacement to a conventional fuel pump system that is usually recognized as a better option in terms of motor vehicle function and operation.
The COVID-19 pandemic outbreak has a negative impact on the market as it disrupted supply chain management across the globe, which affected the sales and figures related to automotive electric fuel pump.
Automotive Electric Fuel Pump Market Trends, Drivers, Restraints, and Opportunities
- Increasing trend of engine downsizing for better fuel efficiency is one of the key factors driving the automotive electric fuel pump market growth.
- Lowering the risk of explosion related to pumps with the help of advanced coating and protection is expected to boost the market growth in the coming years.
- Increasing focus of automakers toward fuel-efficient vehicles is anticipated to fuel the automotive electric fuel pump market expansion during the projected timeline.
- Growing production of counterfeit products along with high production costs is a key challenge, which is likely to hinder the automotive electric fuel pump market growth during the forecast period.
- Changing consumer preferences along with growing safety concerns and an increasing focus on eco-friendly products is expected to create a significant growth opportunity for the market in the near future.
Scope of Automotive Electric Fuel Pump Market Report
The report on the global automotive electric fuel pump market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Automotive Electric Fuel Pump Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
2023 – 2031
Applications (HCVs, LCVs, and Passenger Cars), Products (Brushless DC and Brushed DC), and Technology (Sliding Vane, Turbine Style, and Roller Vane)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
General Motors Company; Continental AG; Daewha Fuel Pump Ind., Ltd; Delphi Automotive PLC; Robert Bosch; Federal-Mogul Corp.; Visteon Corp.; ACDelco Inc.; and Denso Corp.
Automotive Electric Fuel Pump Market Segment Insights
Passenger cars segment is expected to grow at a rapid pace
Based on applications, the global automotive electric fuel pump market is divided into HCVs, LCVs, and passenger cars. The passenger cars segment is expected to grow at a rapid pace during the forecast period attributed to increased demand and production for passenger vehicles.
However, the HCVs segment is anticipated to hold a key share of the market in the coming years due to rising industrialization and expansion of the construction industry.
Rise in demand for brushed DC drive the segment
In terms of products, the global automotive electric fuel pump market is bifurcated into brushless DC and brushed DC. The brushed DC segment is projected to expand at a considerable CAGR during the projected timeline owing to rise in adoption in passenger vehicles and HCVs to prevent abnormal wear due to high spark discharges.
On the other hand, the brushless DC segment is anticipated to account for a major market share during the forecast period due to several benefits it offers, such as higher electricity conducting efficiency, better product longevity & reliability, and high torque to weight ratio.
Turbine style segment is anticipated to hold significant market growth
On the basis of technology, the global automotive electric fuel pump market is segmented into sliding vane, turbine style, and roller vane. The turbine style segment is anticipated to hold significant market share attributed to the increasing adoption in most of the newly manufactured internal combustion engine vehicles.
Additionally, benefits related to turbine electric fuel pumps, such as low noise emission, high performance, ease of installation, and pressure measurement and is expected to drive the market growth further.
Asia Pacific is anticipated to constitute a key market share
In terms of regions, the global automotive electric fuel pump market share is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to constitute a key share of the market during the projected period owing to demand for HCVs and passenger cars among industrial and consumers applications across the region.
However, North America market is anticipated to expand at a rapid pace during the forecast period attributed to the U.S. for being the second largest manufacturer of automobiles globally.
The global automotive electric fuel pump market has been segmented on the basis of
- Sliding Vane
- Turbine Style
- Roller Vane
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
Key players competing in the global automotive electric fuel pump market are General Motors Company; Continental AG; Daewha Fuel Pump Ind., Ltd; Delphi Automotive PLC; Robert Bosch; Federal-Mogul Corp.; Visteon Corp.; ACDelco Inc.; and Denso Corp.
Some of these players are actively engaged in various market development strategies such as capacity expansion, new product launches, acquisition, partnership, collaboration, and mergers to increase their market share.