Press release
Automotive Fuel Transfer Pumps Market to Witness 4.7% CAGR During 2016 – 2022 - P&S Intelligence
In past ten years span, the manufacturing companies are actively engrossed in the integration of various technologies such as automatic transmission, gasoline turbochargers, gasoline direct injection and power steering. To fulfill these requirements, dedicated automotive fuel transfer pumps are required for the efficient operation of automobile. With the rapidly changing dynamics of automotive industry, these technologies are likely to augment the growth of global automotive fuel transfer pumps market.
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The global automotive fuel transfer pumps market is witnessing increasing adoption of electric pumps, growing demand for smart automobiles and the replacement of gasoline port fuel injection by gasoline direct injection technology. This is expected to positively impact the market growth over the forecast period.
In 2015, Asia-Pacific accounted for the largest share in the global automotive fuel transfer pumps market; whereas the market in Middle East and Africa is expected to grow at the fastest rate, during the forecast period. The major reason for the fast growth of the market in the Middle East and Africa includes increasing investments in technology up gradation and burgeoning demand for passenger cars and light commercial vehicles in this region.
Europe was the second automotive fuel transfer pumps largest market in 2015. The widespread presence of automotive manufacturing giants in Europe is expected to positively impact the market growth over the forecast period. Demand for fuel-efficient vehicles such as hybrid and electric passenger vehicles in countries such as Germany, France and Italy is projected to boost the market demand significantly in the near future. However, on account of economic instability, this region is expected to witness below average growth rate in the coming years.
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Some of the major players operating in the global automotive fuel transfer pumps market include Robert Bosch GmbH, Denso Corporation, Continental AG, Aisin Seiki Co. Ltd., Delphi Automotive PLC, Johnson Electric, SHW AG, Magna International Inc., Mikuni Corporation, and JTEKT Corporation.
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P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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