Fuel Transfer Pump Market | Research Statistics, Business Strategy And Industry Share
Fuel Transfer Pump Market Overview:
The purpose of this study is to provide an in-depth analysis of the Fuel Transfer Pump market by segments, industry, and geography. The study provides detailed information on the major factors influencing the growth of the Fuel Transfer Pump industry. The study also provides a thorough examination of the market’s value chain.
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Global Fuel Transfer Pump Market was worth US$ 1.7 Bn. in 2020 and total revenue is expected to grow at a rate of 4.2 % CAGR from 2021 to 2027, reaching almost US$ 2.3 Bn. in 2027.
Market Scope:
The research method used to assess and forecast the Fuel Transfer Pump market begins with gathering revenue data from key suppliers using secondary research sources. When defining market segmentation, vendor offerings are also considered. Using the bottom-up method, the income of major corporations was utilized to assess the total size of the Fuel Transfer Pump market.
Drivers:
The rapid advancement of technology in machinery and equipment, such as fuel transfer pumps, is a major factor in the revenue growth of the fuel transfer pumps market. Additionally, the expansion of the automotive industry and rising demand for more fuel-efficient cars are predicted to fuel market revenue growth over the course of the forecast period.
The demand for gasoline transfer pumps is anticipated to decline as the popularity of fossil fuel-powered vehicles grows, and the increased acceptance and sales of electric vehicles (EVs) are likely to restrain market revenue growth in the near future. While alternative fuel and powered propulsion systems and engines that can deliver the thrust and sustained power necessary for such applications become available and can be safely deployed, fuel pumps for aircraft and marine applications will still be in demand for a very long time.
Segmentation:
The features offered by these pumps, such as compact size, dependability, and flexibility in terms of usage, are what divide the market into three types: AC FTP, DC FTP, and Hand FTP. DC FTPs held the largest share of the market and are anticipated to expand at a CAGR of 4.6 percent over the course of the forecast period. These pumps are frequently used in major systems in automobiles, earthmoving equipment, and construction yards.
Sales of these pumps for transferring biodiesel, diesel, diesel exhaust fluid, and AC FTPs increased in 2019, accounting for 36.8% of total sales. (DEF). Tank and barrel mounting are just a couple of the stationary or permanent uses for these pumps.Additionally, they are used to transport fuel in heavy equipment, substantial construction, fleet operations, and extensive farming.
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Key Players: the key players are:
• Aisin Seiki Co. Ltd.
• ARO (Ingersoll-Rand plc)
• Continental Ag
• Creative Engineers (Malhar Pumps)
• Delphi Automotive Plc
• Denso Corporation
• GESPASA – TOT COMERCIAL S.A.
• Graco Inc.
• Great Plains Industries, Inc.
• INTRADIN
• Johnson Electric
• Jtekt Corporation
• Mach Powepoint Pumps India Pvt., LTD.
• Magna International Inc.
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Regional Analysis:
Market share information for North America, Europe, Asia-Pacific, the Middle East, and Africa, and South America are available separately. Maximize analysts assess competitive strengths and conduct competitive analysis on each rival separately.
COVID-19 Impact Analysis on Fuel Transfer Pump Market: The detailed review of COVID-19 impact on the Fuel Transfer Pump market based on import, suppliers, ket players have also been included in the Fuel Transfer Pump market report.
Key Questions Answered in the Fuel Transfer Pump Market Report are:
- Which segment had the largest share in the Fuel Transfer Pump market?
- How is the competitive landscape of the Fuel Transfer Pump market?
- Which are the key factors impacting the Fuel Transfer Pump market growth?
- Which region has the maximum share in the Fuel Transfer Pump market?
- What will be the CAGR of the Fuel Transfer Pump market during the forecast period (2021-2027)?
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