According to a new report, published by KBV research, The Global Automotive Electric Fuel Pumps Market size is expected to reach $32.34 billion by 2031, rising at a market growth of 6.3% CAGR during the forecast period.
The use of automotive electric fuel pumps extends beyond just fuel delivery. The primary function of an electric fuel pump is to transport fuel from the fuel tank to the engine’s fuel injection system. The pump ensures fuel is delivered at the right pressure to meet engine demands. In modern engines, the fuel pump plays a critical role in maintaining fuel pressure, which is crucial for efficient combustion.
The Brushed DC segment is experiencing a CAGR of 6 % during the forecast period. These fuel pumps are known for their simplicity, affordability, and ease of maintenance, making them a popular choice among manufacturers and consumers. Brushed DC pumps have been widely adopted across various vehicle categories, including passenger cars and commercial vehicles, due to their proven reliability and well-established technology.
The Turbine style segment led the maximum revenue in the Global Automotive Electric Fuel Pumps Market by Technology in 2023, thereby, achieving a market value of $17.1 billion by 2031. These pumps are highly efficient and reliable, featuring a compact design that delivers a steady fuel flow without pulsation. Turbine-style pumps are known for their quiet operation, making them an ideal choice for modern passenger vehicles.
The LCVs segment is growing at a CAGR of 6 % during the forecast period. Light commercial vehicles, such as vans and pickup trucks, are increasingly used for logistics, e-commerce deliveries, and urban transportation. The rising demand for LCVs, driven by the growth in last-mile delivery services and expanding small business operations, has boosted the adoption of electric fuel pumps in this segment.
Full Report: https://www.kbvresearch.com/automotive-electric-fuel-pumps-market/
The Asia Pacific region dominated the Global Automotive Electric Fuel Pumps Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $17.3 billion by 2031. The Europe region is anticipated to grow at a CAGR of 5.9% during (2024 - 2031). Additionally, The North America region would witness a CAGR of 5.3% during (2024 - 2031).
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