The automotive fuel transfer pump is an integral part of a vehicle, as it is employed for transmission, lubrication, and transfer of the fuel to the engine. Unlike before, such pumps are now being used for the overall improvement of automobiles’ performance, especially their fuel efficiency. Pumps use electrical or mechanical energy to push the fuel into the combustion chamber of the engine. With the increasing focus on reducing the rate of environmental degradation, manufacturers are coming up with more-efficient pumps, which adhere to the vehicular emission norms of governments worldwide.
The automotive fuel transfer pumps market growth will therefore be driven by the technological advancements in these engine components and changing consumer preference for a higher vehicle fuel efficiency. During the forecast period of 2016–2022,a 4.7% CAGRwill propel the global market revenue from $49,052.6 million in 2015 to a considerable value in 2022. Automobile manufacturers are integrating technologies such as power steering, automatic transmission, gasoline direct injection, and gasoline turbochargers, along with efficient automotive fuel transfer pumps, for enhancing the driving experience and complying with emission regulations.
The sale of electrical automotive fuel transfer pumps is more than the mechanical ones. This is due to the benefits offered by electrical pumps, majorly higher durability, enhanced pressure regulation, and less susceptibility to wear and tear. These features enhance the efficiency and performance of the pump, thereby making it more popular than mechanical pumps. The increasing deployment of electrical pumps by the automobile industry is also due to the increasing awareness about these variants.
Further, the pump type segment of the automotive fuel transfer pumps market is categorized into the fuel supply, engine oil, vacuum, transmission oil, fuel injection, and others. The fuel supply pump category held the maximum share in the market in 2015, as these components are mostly used in passenger cars, which account for over 70% of the vehicles produced in the world. Fuel supply pumps are installed just outside the fuel tank, to transfer the required amount of fuel from the tank to the engine at the optimum pressure.
The Asia-Pacific (APAC) region has generated the maximum demand for automotive fuel transfer pumps in recent years, due to its growing automobile industry. Europe bought the second-largest quantity of these pumps in the past due to the presence of eminent automotive producers here. In either region, hybrid and electric passenger vehicles have generated a huge demand for automobile fuel transfer pumps in recent years. Due to the increasing adoption of hybrid and electric vehicles in Italy, France, and Germany, these countries are expected to demonstrate an even higher demand for such automotive components in future.
According to a report by P&S Intelligence, the Middle East and African automotive fuel transfer pumps market is expected to demonstrate the fastest growth during the forecast period. This can be attributed to the surging demand for commercial vehicles and passenger cars in the region, due to the rising disposable income of the inhabitants. Additionally, an increase in the investments in the advancement of the pump technology will boost the growth of the market.
Technological innovations in the automotive sector and related industries will thus contribute to the development of better pumps. Additionally, the rising demand for passenger cars and commercial vehicles will add to the surging procurement of automotive fuel transfer pumps by automakers.