The global fuel pumps market is expected to grow on account of expanding the automotive industry due to the corresponding demand for vehicles. Fuel pumps serve main purposes such as fuel injection to the engine, maintaining optimal pressure between carburetor and engine as well as to prevent fuel from overheating. Previous models of automobiles relied solely on the gravitational force for fuel injection purposes; however technological developments and increasing industrialization are expected to exponentially develop the global fuel pump market. The market is mainly classified into turbo, mechanical, and electric fuel pumps. Mechanical pumps are mostly found in older automobile versions. However, turbopumps which are found in jet engines and electric fuel pumps, are witnessing exponential growth on account of the increasing pressure on fuel efficiency in automobiles.
Various governmental regulations such as Global Protocol for Community-Scale Greenhouse Gas Emission Inventories (GPC) have enforced strict carbon emission standards. This has led to increasing pressure on the automotive industry to adhere to various stringent regulations. Such factors are also expected to drive the demand for updated and advanced fuel pumps over the forecast period. Increased fuel efficiency results in optimal power output, ease of engine startup, reduced costs, and maintenance of automobiles. Furthermore, rising fuel prices are expected to offer lucrative opportunities for the growth of the fuel pumps market throughout the forecast period. In addition, residual buildup in engines can be reduced by replacing older mechanical pumps with electric fuel pumps. This offers an attractive advantage for the automobile industry, which in turn is expected to enhance market growth. Electric fuel pumps are also less likely to develop external leakages, providing an added advantage for the growth of the market. High-speed fuel injection can be achieved under all conditions and in a variety of engine speeds. This factor is expected to significantly propagate growth for the global fuel pump market. Advanced safety and stability is also achieved since electric fuel pumps do not leak gas into the engine thus gaining an edge over conventional pumps. These factors are expected to further augment the market growth over the forecast period.
Few factors can possibly impede the development of the electric fuel pump market such as the high cost of installation and complexity involved in changing pumps as compared to conventional mechanical pumps. Inconvenience and inaccessibility of the electric fuel pump on account of its obscure location inside automobile gas tanks are also expected to hamper the growth of the market. Fire and electric hazards are also some issues that may negatively impact the growth of the fuel pump market during the forecast period.
Key geographic regions such as North America and Europe are leaders in the fuel pumps market globally. Demand from other regions such as Asia Pacific and Middle East is likely to increase on account of rising per capita income in emerging economies such as China and India. This trend has been leading to a boom in the automobile sector in Asia Pacific. Developing African nations are also expected to witness a significant increase in market share.
Dynamics of the fuel pump market are likely to undergo positive progress globally on account of government regulations regarding fuel efficiencies and environmental sustainability. The key players in the industry currently include Robert Bosch GmbH, Great Plants Industries Ltd., Delphi Automotive LLP, Farstar Auto Parts Co., Pricol Limited, Spectra Premium, and Suntec Industries Inc.
NEED A CUSTOM REPORT?
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities.
Contact us now to get our best pricing.
We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure.
"The quality of research they have done for us has been excellent."
Disruptions in chemical manufacturing activities due to the COVID-19 pandemic shall have a considerable influence on the growth patterns of enzymes and other catalysts. Key players across the value chain are also expected to realign their supply channels to cater to the demand for catalysts in specific areas of the chemical industry which are witnessing an unusual level of activity allied with pharmaceuticals and biotechnology. The report will account for Covid19 as a key market contributor.