Automotive Fuel Transfer Assemblies Market Revenue, Opportunity, Forecast and Value Chain 2018-2028
Automotive fuel transfer assemblies are used for improving the fuel system availability and safety during the transmission of fuel to the combustion unit of an automotive engine. A fuel pump transfer assembly is mounted in a fuel tank for sending fuel to a fuel injector, which includes a driving means for supplying a driving force for sending or returning fuel. With increasing temperatures and increasing electronic controls, the need for efficient coolants is also increasing. For the lower temperature range, companies are producing advanced multi-layer tubing, and for the higher temperature range, they provide hybrid lines consisting of steel tubing with high-performing lightweight fluorocomp® hoses. Automotive fuel transfer assemblies play an integral role in running any vehicle smoothly. These fuel transfer assemblies assist the engine in running as estimated under a wide range of driving conditions and rates of fuel consumption. As the demand for automotive components is surging in developing countries such as India, China, Brazil, Japan, and others, governments are undertaking many initiatives to increase the sales of these components. Technological developments in this niche, but significant products with the highest penetration rate in a vehicle is expected to enhance the growth of the automotive air fuel transfer assemblies market.
Global Automotive Fuel Transfer Assemblies Market: Dynamics
Rates of fuel consumption and high efficiency are some of the major drivers for the growth of the automotive fuel transfer assemblies market. The ability of these fuel transfer assemblies to transfer a constant pressurized fuel supply to the fuel injection from the fuel tank on the engine is escalating the demand for automotive fuel transfer assemblies. The growing demand for passenger vehicles with technological advancements is spurring market growth. The growing automotive industry and demand for auto components are expected to support the growth of the automotive fuel transfer assemblies market.
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However, the low replacement rate of fuel transfer assemblies in vehicles restrains the growth of the global automotive fuel transfer assemblies market.
Global Automotive Fuel Transfer Assemblies Market: Region-wise Outlook
North American countries such as the U.S. and Canada are expected to show vigorous growth in the automotive fuel transfer assemblies market, owing to the large number vehicles production in these countries. The same perspective holds true for European countries such as Germany, Spain, and France. These countries exhibit high potential growth in the automotive fuel transfer assemblies market, due to escalating vehicle sales and a renewed interest in electric vehicles. India and China are expected to forefront the growth of the market in the Asia Pacific region, due to the major contribution of these two economies in the automotive industry. The aftermarket segment of the automotive fuel transfer assemblies market is expected to increase in the MEA region, due to the augmented demand for luxury vehicles in this region. Japan is also expected to show high potential for the market, due to the presence of a large number of OEMs in the country. The automotive fuel transfer assemblies market in the Latin America region is expected to experience slow growth, due to the decline in automotive industry in the region’s largest economy, Brazil, but is projected to pick up steam in the latter stages of the forecast period.
Global Automotive Fuel Transfer Assemblies Market: Key Participants
Key market participants of the global automotive fuel transfer assemblies markets are the following: Robert Bosch GmbH, Akron Polymer Products, Hutchinson, ATS Automation Tooling Systems Inc, Kongsberg Automotive, Jalex automotive Pvt. Ltd. etc.
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