Press release
Fuel Transfer Pumps Market is Anticipated to Expand upto $2.45 Billion in 2029
Fuel Transfer Pumps Market
What Is the Forecasted Market Growth Rate of the Fuel Transfer Pumps Industry?
In recent times, the fuel transfer pumps market has seen consistent growth. The market, which was valued at $1.87 billion in 2024, is projected to rise to $1.95 billion in 2025, indicating a compound annual growth rate (CAGR) of 3.9%. This growth during the historical period is a result of various factors such as customer preferences, needs of the energy sector, industrialization, urbanization and construction activities, demand from oil and gas industry, and a spike in fuel consumption.
How Will the Fuel Transfer Pumps Market Size Evolve From 2025 to 2029?
In the coming years, the market size for fuel transfer pumps is set to witness a substantial growth. It is predicted to reach $2.45 billion in 2029, achieving a 5.9% compound annual growth rate (CAGR). The anticipated growth in the forecast period can be credited to aspects such as product advancements, remote monitoring systems, the emergence of new markets, industrial growth, urbanisation projects, and investments in energy infrastructure. Key trends expected during the forecast period encompass safety and efficiency, an increase in fuel demand, transition to renewable energy sources, the expansion of industries, and agricultural equipment.
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What Are the Main Growth Drivers in the Fuel Transfer Pumps Market Today?
The growth of the fuel transfer pumps market is forecasted to be driven by the expansion of the automotive industry. Fuel transfer pumps, which are commonly used in vehicles with advanced injection systems due to their safety, efficacy, and ability to deliver fuel to the engine without significant power loss, are referenced here. Additionally, carbon dioxide emissions from engines are reduced by electric vacuum fuel transfer pumps. For example, the Organisation Internationale des Constructeurs d'Automobiles (OICA), a France-based international group of car producers, reported significant growth in the global automotive industry in 2023, marking a surge in total vehicle production to 93546599 units from the 85016728 units produced in the previous year, 2022. Consequently, the automotive industry's expansion is spurring the fuel transfer pumps market's growth.
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Which Fuel Transfer Pumps Market Segment Is Expected to Lead Through 2029?
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
Which Market Trends Are Expected to Dominate Fuel Transfer Pumps Industry Growth?
Advancements in technology are becoming a popular trend in the fuel transfer pumps industry. Top companies in the industry are creating fuel transfer pumps that feature innovations such as permanent magnet motors, self-cleaning filters, high-speed two-sided dispensers and more to maintain their stake in the market. For example, in September 2022, SVANEHØJ Danmark A/S, a Denmark-based designer and producer of pumps for offshore activities, invented a new fuel pump for ships that use LNG for power. Their novel CS pump is a submerged pump installed at the bottom of the tank. With this CS fuel pump (an abbreviation for cryogenic submerged), Svaneti has introduced two main innovations to the market: a self-cleaning LNG filter that prevents blockages that could increase wear and interrupt operations, and a new permanent magnet motor that ensures better efficiency with less energy consumption compared to other motors.
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Which Companies Hold the Largest Market Share in the Fuel Transfer Pumps Sector?
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
Where Is the Fuel Transfer Pumps Market Experiencing the Highest Growth?
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.
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