Automotive Electric Fuel Pump Market Size, Share, and COVID-19 Impact Analysis, By Fuel Type (Gasoline, Diesel, and Others), By Product (Brushed DC and Brushless DC), By Technology (Turbine Style, Sliding Vane, and Rotary Vane), By Vehicle Type (Passenger Cars and Commercial Vehicles) and Regional Forecast, 2024-2032
KEY MARKET INSIGHTS
An automotive electric fuel pump is one of the automobile's primary components, which helps transfer gasoline and diesel from the fuel tank to the engine cylinder via the Fuel Injector. It is an electric pump located inside the fuel tank from where it carries the fuel, maintains a desired pressure as needed, and sends it to the fuel rail for further process. The fuel pump is equipped with sensors to monitor multiple aspects of fuel delivery, including optimum levels of pressure of fuels to be delivered to attain the highest efficiency.
An electric fuel pump plays a vital role in the operation of a vehicle because it helps achieve greater fuel efficiency due to reduced friction and hydraulic losses and, at the same time, ensures a cleaner environment by lesser carbon emission. Improving the fuel efficiency of an automobile can lead to various benefits such as optimal power output, ease of engine startup, lesser carbon emission, low maintenance, and reduced cost of automobiles. The growing global demand for automobiles and stricter environmental norms will aid the overall growth of the electric fuel pump market.
The growing awareness of environmental concerns is slowly migrating customers to a greener alternative, i.e., the adoption of electric vehicles may suppress the need for the electric fuel pump. As the automobile industry moves towards electrification and automation, fuel demand may be pulled into the back seat.
Impact of COVID-19 on the Automotive Electric Fuel Pump Market
The pandemic introduced a temporary worldwide shutdown in many industry sectors. This temporary shutdown impacted various industries negatively, leading to revenue decline, loss of product sales, slowed production rate, unemployment, and many other severe impacts. This led to an economic downturn as the majority of the manufacturing facilities were suspended or working at half capacity.
As COVID-19 hit the world in early 2020, all the major economies had multiple setbacks due to lockdowns and supply chain bottlenecks. FY-20 was highly dissatisfied when it came to passenger car sales throughout the globe because consumer sentiments and preferences took a huge shift. Consumers started refraining from buying luxury goods.
The closure of production plants and shortage of workforce due to stricter social distancing norms also affected the production of new vehicles. Additionally, supply chain issues affected the overall production cycle, negatively influencing the market growth. As lockdown restrictions were removed, the market started to pick up pace and will continue strong growth.
Key Insights
The report will cover the following key insights:
- Key Industry Developments – Mergers, Acquisitions, and Partnerships.
- Porter's Five Forces Analysis.
- Technological Developments.
- Impact of COVID-19 on the Automotive Electric Fuel Pump Market.
Regional Analysis
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The Asia Pacific region is predicted to lead the automotive electric fuel pump market over the coming decade. The automotive electric fuel pump market is positively correlated with the growth of the overall automotive industry. APAC is witnessing an attractive demand for both passenger and commercial vehicles owing to the increased preference of consumers to own cars and increased penetration of industry and its related services, respectively. Additionally, high investments in R&D to develop more fuel-efficient and cleaner engines will help boost the Electric fuel pump market.
Key Players Covered
The report includes the profiles of key players such as Delphi Automobile LLP, Robert Bosch GmbH, Continental AG, Denso Corporation, Airtex Products LP, Farstar Auto Parts, ACDelco, TI Automotive, Precol Limited, Suntec Industries Inc., and Great Plants Industries Inc.
Segmentation
By Fuel Type | By Product | By Technology | By Vehicle type | By Geography |
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Key Industry Developments
- February 2023 – PurePower and S&S Diesel motorsports launched DCR replacement fuel pump for 6.7L power stroke diesel engines.
- November 2019 – Delphi Technologies launched redesigned fuel pump module and announced a wide product line expansion.
- Ongoing
- 2023
- 2019-2022
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