Press release
Fuel Transfer Pumps Market 2024: Demand, Growth Challenges, Industry Analysis And Forecasts To 2033
Fuel Transfer Pumps Market
The Business Research Company presents an extensive market research report on the Fuel Transfer Pumps Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The fuel transfer pumps market size has grown strongly in recent years. It will grow from $1.79 billion in 2023 to $1.9 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to consumer preferences, energy sector requirements, industrialization, urban development and construction, oil & gas industry demand, increased fuel consumption..
The fuel transfer pumps market size is expected to see strong growth in the next few years. It will grow to $2.4 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to product innovation, remote monitoring solutions, emerging markets and industrial growth, urban development projects, energy infrastructure investments.. Major trends in the forecast period include safety and efficiency, rise in fuel demand, shift towards renewable energy, industrial expansion, agricultural machinery..
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Key Market Players:
Major companies operating in the fuel transfer pumps market report are Piusi S.p.A, Graco Inc., Creative Engineers, Groz Engineering Tools Ltd., Tuthill Corporation, GoatThroat Pumps, SPATCO, Pricol Limited, Liquidynamics, Robert Bosch GmbH, DENSO CORPORATION, ContiTech AG, Johnson Electric Holdings Limited, SHW Storage & Handling Solutions GmbH, Magna International Inc., Fill-Rite Company, Great Plains Industries Inc., Yamada Corporation, TeraPump, Fuelworks Ltd., Gorman-Rupp Company, FLOJET Corporation, Lincoln Industrial Corporation, IDEX Corporation, Hytek GB Ltd., Fuel Transfer LLC, Meclube S.R.L., Gilbarco Inc., Cim-Tek Filtration, Corken Inc., RAASM SpA
Market Drivers:
Expansion of the automotive industry is expected to propel the growth of the fuel transfer pumps market going forward. Fuel transfer pumps refer to the pumps that are employed in vehicles with sophisticated injection systems because they are relatively safe and effective and provide fuel to the engine with little power loss. The decrease of carbon dioxide emissions from engines is also aided by electric vacuum fuel transfer pumps. For instance, in May 2022, according to an article published by CEIC Data, a US-based provider of macro and micro economic data insights, 9.2 million units of motor vehicles were produced in the US in 2021, a rise from the previously reported figure of 8.8 million units for December 2020. Therefore, the expansion of the automotive industry is driving the growth of the fuel transfer pumps market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/fuel-transfer-pumps-global-market-report
The fuel transfer pumps market covered in this report is segmented -
1) By Type: AC Fuel Transfer Pump, DC Fuel Transfer Pump, Hand Fuel Transfer Pump
2) By Motor Type: 12V DC, 24V DC, 115V AC, 230V AC
3) By Mounting: Fixed, Portable
4) By Application: Construction, Mining, Agriculture, Chemical, Military, Transportation, Food And Beverage, Other Applications
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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