September 27, 2023 08:48 ET | Source: Research and Markets Research and Markets
Dublin, Sept. 27, 2023 (GLOBE NEWSWIRE) -- The "Automotive Electric Fuel Pumps Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering. Fuel Transfer Pump For Diesel Injection Pump
The global automotive electric fuel pumps market has continued its upward trajectory, reaching a size of US$ 11.6 billion in 2022. Analysts predict that this growth trend will persist, with the market expected to expand to US$ 15.9 billion by 2028. This represents a compound annual growth rate (CAGR) of 5.28% during the period from 2023 to 2028.
Revolutionizing Fuel Delivery in Automobiles
Automotive electric fuel pumps are integral devices responsible for pumping gasoline or fuel from the vehicle's gas tank to the injectors in the engine. These pumps create positive electrical pressure within the fuel lines, propelling the fuel to the internal combustion engine. They are commonly found in passenger cars, as well as light and heavy commercial vehicles. Unlike traditional mechanical pumps, electric fuel pumps offer several advantages, including an extended service life, reduced noise generation, improved fuel supply, and enhanced interference suppression.
Driving Factors Behind Market Growth
The growth of the automotive industry, coupled with increasing demand for passenger vehicles, is a primary driver of market expansion. These electric fuel pumps are widely adopted globally due to their ability to deliver an adequate amount of fuel while maintaining optimal pressure levels between the carburetor and pump. They also play a crucial role in preventing engine overheating and vapor lock. Additionally, the integration of multi-port fuel injection systems in modern automobiles has boosted market growth, improving power output, vehicle performance, fuel efficiency, and precise fuel flow.
Continuous product innovation, including the development of lightweight and cost-effective variants, has further fueled demand. Factors such as the rising preference for high-speed fuel injectors in sports and luxury cars, along with increased consumer spending capacity, are expected to drive market growth.
The global automotive electric fuel pumps market report offers a comprehensive analysis of key trends in each sub-segment. It provides forecasts at the global, regional, and country levels for the period from 2023 to 2028. The market is categorized based on motor type, technology, pump type, and application.
The report offers detailed insights into market performance across regions, including North America, Asia Pacific, Europe, the Middle East and Africa, and Latin America.
Key players in the automotive electric fuel pumps market include ACDelco, Aisan Industry Co., Ltd., Continental AG, Daewha Fuel Pump Ind., Ltd, Delphi Automotive PLC, Denso Corporation, Federal-Mogul Corporation, General Motors Company, Pricol Limited, Robert Bosch, Visteon Corporation, and others.
For more information about this report visit https://www.researchandmarkets.com/r/ergzd2
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