The fuel pumps market industry is projected to grow from USD 7.91 Billion in 2023 to USD 11.00 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.20% during the forecast period (2023 - 2032). Fuel Pumps Market Size was valued at USD 7.6 Billion in 2022. Growing demand for electric and hybrid vehicles, stricter emission regulations, applications in industry and commerce, and improvements in fuel pump technology are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The market for fuel pumps is changing significantly as a result of the rising demand for hybrid and electric vehicles (HEVs and EVs). In numerous significant ways, this development is changing the landscape of fuel pump technology and application. First off, there has been an increasing trend towards HEVs and EVs as governments and people throughout the world become more concerned with environmental issues and try to minimise carbon emissions. These cars, in contrast to those with conventional internal combustion engines, rely on electricity to power their propulsion systems. They need specialised electric power management systems and gasoline pumps as a result. Fuel pumps are essential in HEVs for controlling the flow of petrol or diesel used to run the internal combustion engine and recharge the batteries. To maximise fuel efficiency and cut emissions, these fuel pumps must be extremely accurate and efficient. In addition, as hybrid technology develops, some HEVs are adding electric-only modes that need sophisticated electric fuel pumps to function well. In the case of EVs, the propulsion system no longer requires fuel pumps in the sense that we often conceive of them.
However, the sophisticated electric fuel pumps needed for cooling and controlling the batteries in electric vehicles. These electric fuel pumps are necessary to keep the batteries at their ideal operating temperature, ensuring their longevity and security. Additionally, as EVs' range and charging capabilities advance, there is a growing need for battery management systems and electric fuel pumps for charging stations. These pumps are essential in supplying the energy required to swiftly and effectively charge EVs. Fuel pump manufacturers are investing in research and development to build cutting-edge fuel pump technology suited for HEVs and EVs as they continue to gain market share. This entails creating superior battery cooling systems, high-efficiency electric fuel pumps, and creative charging methods. Thus, driving the fuel pumps market revenue.
The Fuel Pumps Market segmentation, based on technology includes mechanical, electric. The electric segment dominated the market, accounting for 67.24% of market revenue. In general, mechanical gasoline pumps are less effective than electric ones. As a result of their ability to precisely manage fuel supply, which matches with strict emissions rules and the drive for higher fuel economy, they can optimise combustion and increase fuel efficiency.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Fuel Pumps Market segmentation, based on application, includes passenger cars, light commercial vehicles, heavy commercial vehicles, off high-way vehicles. The passenger cars category generated the most income (41.24%). The main portion of the automotive market is made up of passenger automobiles, which sell millions of units each year all over the world. Fuel pumps are a necessity due to the enormous customer demand, making them the most prevalent type of application.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Fuel Pumps Market dominated this market in 2022 (45.80%). A preference for larger cars, such as trucks and SUVs, among local buyers has grown. The demand for high-performance fuel pumps that can service these bigger, frequently more powerful engines has been pushed by this inclination. Further, the U.S. Fuel pumps market held the largest market share, and the Canada Fuel pumps market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe fuel pumps market accounts for the second-largest market share. The comparatively high cost of fuel in Europe, consumers place a high importance on fuel efficiency. In order to increase mileage and lower fuel costs, this supports the deployment of sophisticated fuel pump technologies. Further, the German fuel pumps market held the largest market share, and the UK fuel pumps market was the fastest growing market in the European region
The Asia-Pacific Fuel Pumps Market is expected to grow at the fastest CAGR from 2023 to 2032. The necessity for fuel-efficient technology that lower emissions and enhance mileage is highlighted by the fact that urbanisation in the Asia-Pacific area leads to increasing traffic and congestion. Moreover, China’s fuel pumps market held the largest market share, and the Indian fuel pumps market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the fuel pumps market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, fuel pumps industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global fuel pumps industry to benefit clients and increase the market sector. In recent years, the fuel pumps industry has offered some of the most significant advantages to medicine. Major players in the fuel pumps market, including Carter Fuel Systems LLC, Daewha Fuel Pump Ind. Ltd., Aisin Seiki Co., Ltd., Bosch Automotive Service Solutions Inc., Continental AG, Delphi Technologies PLC, Denso Corporation, Aisan Industry, General, Motors Company, Hitachi Automotive Systems, Ltd., Johnson Electric Holdings Limited, Valeo SA., and others, are attempting to increase market demand by investing in research and development operations.
Carter Fuel Systems LLC is a prominent player in the fuel pumps market, specialising in the production of premium gasoline delivery systems. The business has a long history that dates back to 1909 and has established a reputation for innovation and dependability. In order to satisfy the various demands of the automotive and aftermarket sectors, Carter Fuel Systems provides a wide selection of fuel pumps, modules, and accessories. They are renowned for their products' precise engineering, effectiveness, and adherence to rigid industry standards. In today's dynamic automotive environment, Carter Fuel Systems is dedicated to providing cutting-edge fuel pump technology to improve vehicle performance and efficiency.
Aisin Seiki Co., Ltd. is a global leader in the fuel pumps market, famous for its cutting-edge systems and parts for automobiles. Aisin Seiki has a long history stretching back to 1949 and has made a significant impact on the market. In order to serve both OEMs and the aftermarket, the company specialises in manufacturing a wide variety of fuel delivery solutions, including high-performance fuel pumps and modules. The gasoline pump technology from Aisin is renowned for its dependability, accuracy, and efficiency. It also improves vehicle performance while fulfilling strict pollution regulations. Aisin Seiki is dedicated to quality and innovation, and this dedication has been instrumental in advancing the global market for gasoline pumps.
November 2019: Delphi Technologies unveiled a revamped fuel pump module and disclosed a significant expansion of its product line.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 7.6 Billion |
| Market Size 2023 | USD 7.91 Billion |
| Market Size 2032 | USD 11.00 Billion |
| Compound Annual Growth Rate (CAGR) | 4.20% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Technology, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Carter Fuel Systems LLC, Daewha Fuel Pump Ind. Ltd., Aisin Seiki Co., Ltd., Bosch Automotive Service Solutions Inc., Continental AG, Delphi Technologies PLC, Denso Corporation, Aisan Industry, General, Motors Company, Hitachi Automotive Systems, Ltd., Johnson Electric Holdings Limited, Valeo SA |
| Key Market Opportunities | The availability and pricing of fuel pumps. |
| Key Market Dynamics | The increasing adoption of alternative fuels. |
Fuel Pumps Market Highlights:
Frequently Asked Questions (FAQ) :
The Fuel Pumps Market size was valued at USD 7.6 Billion in 2022.
The global market is projected to grow at a CAGR of 4.20% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Carter Fuel Systems LLC, Daewha Fuel Pump Ind. Ltd., Aisin Seiki Co., Ltd., Bosch Automotive Service Solutions Inc., Continental AG, Delphi Technologies PLC, Denso Corporation, Aisan Industry, General, Motors Company, Hitachi Automotive Systems, Ltd., Johnson Electric Holdings Limited, Valeo SA.
The Electric category dominated the market in 2022.
The Passenger Cars had the largest share in the global market.
Research Analyst Level II With a technical background in information technology & semiconductors, shubham has 4.5+ years of experience in market research and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the ict/semiconductor domain. shubham holds a bachelor’s in information and technology and a master of business administration (mba). shubham has executed over 150 research projects for our clients under the brand name market research future in the last 2 years. his core skill is building the research respondent relation for gathering the primary information from industry and market estimation for niche markets. he is having expertise in conducting secondary & primary research, market estimations, market projections, competitive analysis, analysing current market trends and market dynamics, deep-dive analysis on market scenarios, consumer behaviour, technological impact analysis, consulting, analytics, etc. he has worked on fortune 500 companies' syndicate and consulting projects along with several government projects. he has worked on the projects of top tech brands such as ibm, google, microsoft, aws, meta, oracle, cisco systems, samsung, accenture, vmware, schneider electric, dell, hp, ericsson, and so many others. he has worked on metaverse, web 3.0, zero-trust security, cyber-security, blockchain, quantum computing, robotics, 5g technology, high-performance computing, data centers, ai, automation, it equipment, sensors, semiconductors, consumer electronics and so many tech domain projects.
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