The global automotive electric fuel pumps market size is anticipated to value USD 18.44 billion until 2025. It is also expected to register a CAGR of 5.0% over the forecasted years, 2019 to 2025. The benefits over usage of these fuel pumps like improved fuel efficiency and an increase in the operational efficiency of vehicle engines are anticipated to fuel up their demand in the upcoming years.
The passenger cars application segment dominated the global market with share of around 75.0% across the global market due to rising demand of passenger cars prevailing among the millennial population. On the other hand, the HCVs segment is also expected to witness substantial growth in the upcoming years owing to growth of the construction industry and rapid industrialization.
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The technology segment of turbine style held a share of around 67% in 2018 and is projected to register 5.1% CAGR on account of rising adoption of such pumps in recently manufactured ICE vehicles. Also, its features like less noise emission, easy installation and pressure measurement are projected to drive the market growth for this segment.
In 2018, the Asia Pacific dominated the global market with a share of around 57.0% due to the surging demand for heavy commercial vehicles and passenger cars across countries like China and India. It is also expected to register the highest CGAR over the forecasted years, 2019 to 2025.
The market for automotive electric fuel pumps includes key players are constantly engaged in product development and innovation to gain a competitive advantage over other players.
COVID-19 Impact Insights
The market for automotive electric fuel pumps is negatively affected on account of the ongoing COVID-19 crisis. Recession across the automobile sector coupled with a decrease in demand for passenger cars during the pandemic period, as they belong to the non-essential products category is expected to hinder the demand for automobiles, thereby reducing the consumption of such fuel pumps. China is one of the major suppliers of automobile parts like fuel pumps. However, as the supply chain across China has been affected on account of restrictions over cargo transport imposed by several countries, the market is witnessing challenging times in this period.
But, the rising preference of self-owned vehicles for traveling purposes instead of public transport during the post-pandemic period is projected to drive the demand for passenger vehicles. Moreover, rapid technological advances being carried out across automobile is expected to further fuel up the demand for automobile electric fuel pumps in the upcoming years.
Table of Contents:-
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Automotive Electric Fuel Pumps Market: Market Variables, Trends & Scope
Chapter 4 Automotive Electric Fuel Pumps Market: Product Estimates & Trend Analysis
Chapter 5 Automotive Electric Fuel Pumps Market: Application Estimates & Trend Analysis
Chapter 6 Automotive Electric Fuel Pumps Market: End-use Estimates & Trend Analysis
Chapter 7 Automotive Electric Fuel Pumps Market: Industrial End-use Estimates & Trend Analysis
Chapter 8 Automotive Electric Fuel Pumps Market: Regional Estimates & Trend Analysis
Chapter 9 Competitive Landscape
Chapter 10 Automotive Electric Fuel Pumps Market: Manufacturers Company Profiles
Top Key Players of Global Automotive Electric Fuel Pumps Market :
Continental AG, Robert Bosch, Denso Corporation, Delphi Automotive PLC, and Visteon Corporation.
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