Press release
Fuel Transfer Pumps Market Size Projected To Reach $2.54 Billion By 2034 With A Cagr Of 6.5%
Fuel Transfer Pumps
What Is the Projected Growth of the Fuel Transfer Pumps Market?
The market size for fuel transfer pumps has significantly increased in the past few years. Projected growth predicts an increase from $1.87 billion in 2024 to $1.97 billion in 2025, boasting a compound annual growth rate (CAGR) of 5.3%. This historical growth trend can be credited to factors such as consumer choices, demands of the energy sector, industrial growth, urbanization and construction, needs of the oil & gas industry, and a rise in fuel consumption.
The market for fuel transfer pumps is expected to experience robust growth in the upcoming years, with a predicted value of $2.54 billion by 2029, growing at a compound annual growth rate (CAGR) of 6.5%. This predicted growth during the forecast period may be due to several factors such as product innovation, adoption of remote monitoring solutions, the rise of emerging markets, industrial development, urban planning projects and investment in energy infrastructure. Key trends anticipated during the forecast period include improvements in safety and efficiency, increasing fuel demand, a shift towards renewable energy, industrial expansion and the use of agricultural machinery.
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What Are the Different Fuel Transfer Pumps Market Segments?
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
Subsegments:
1) By AC Fuel Transfer Pump: Submersible AC Fuel Pumps, Surface AC Fuel Pumps
2) By DC Fuel Transfer Pump: Electric DC Fuel Pumps, Battery-Powered DC Fuel Pumps
3) By Hand Fuel Transfer Pump: Manual Lever Pumps, Siphon Pumps
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What Are the Primary Drivers Shaping the Fuel Transfer Pumps Market?
The progression of the automotive industry is anticipated to spur the advancement of the fuel transfer pumps market. Fuel transfer pumps are essentially used in vehicles equipped with advanced injection systems due to their relative safety, efficiency, and the ability to deliver fuel to the engine with minimal power loss. Electric vacuum fuel transfer pumps also contribute to the reduction of carbon dioxide emissions from engines. For example, in 2023, as stated by the Organisation Internationale des Constructeurs d'Automobiles (OICA), an international association of vehicle manufacturers based in France, there was a remarkable surge in global automotive industry with total vehicle production hitting 93546599 units, a marked climb from the 85016728 units manufactured in 2022. Hence, the enlargement of the automotive industry is fuelling the development of the fuel transfer pumps market.
Which Companies Are Leading in the Fuel Transfer Pumps Market?
Major companies operating in the fuel transfer pumps market 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, 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
What Are the Major Trends Shaping the Fuel Transfer Pumps Market?
The fuel transfer pumps market is witnessing an increasing trend towards technological innovations. The key players in the market are creating fuel transfer pumps with cutting-edge features such as permanent magnet motors, self-cleaning filters, and high-speed double-side dispensing, among others, to maintain their market standing. For example, SVANEHØJ Danmark A/S, an offshore installations pump designer and manufacturer based in Denmark, introduced a new fuel pump in September 2022 for ships propelled by LNG. This revolutionary CS pump (an acronym for cryogenic submerged) is a submersible pump positioned at the base of the tank. With the CS fuel pump, Svaneti brought to the table two major innovations: a self-cleaning LNG filter that prevents blockages, thereby preventing increased wear and service interruptions, and a fresh permanent magnet motor that promises better efficiency and lower energy use compared to other motors.
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What Are the Top Revenue-Generating Geographies in the Fuel Transfer Pumps Market?
Asia-Pacific was the largest region in the fuel transfer pumps market in 2024. The regions covered in the fuel transfer pumps market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Fuel Transfer Pumps Market?
2. What is the CAGR expected in the Fuel Transfer Pumps Market?
3. What Are the Key Innovations Transforming the Fuel Transfer Pumps Industry?
4. Which Region Is Leading the Fuel Transfer Pumps Market?
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