Automotive Fuel Transfer Pumps Market Growing Rapidly due to Changing Consumer Preferences

The automotive fuel transfer pumps market is set to reach $67.3 billion by 2022, growing at a CAGR of 4.7% between 2016-2022. The technological advancements, changing consumer preferences coupled with rising disposable incomes are expected to drive the demand for automotive fuel transfer pumps over the forecast period.

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In terms of pump type, the automotive fuel transfer pumps market includes, fuel supply pump, fuel injection pump, transmission oil pump, engine oil pump, vacuum pump and others. The fuel supply pump segment led the market in 2015 and is expected to witness a CAGR of 4.6% during the forecast period.

The automotive fuel transfer pumps market in Asia-Pacific was valued at $19.3 billion in 2015 and is forecasted to reach $28.5 billion by 2022, witnessing a CAGR of 5.8% during 2016 - 2022. The region is further expected to lead the global market during the forecast period in 2022. The market for automotive fuel transfer pumps in China is expected to witness the fastest growth during 2016-2022. The market in China is expected to contribute more than 50% to the Asia-Pacific automotive fuel transfer pumps industry in 2022.

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Some of the major players operating in the automotive fuel transfer pumps market include Robert Bosch GmbH, Denso Corporation, Continental AG, Aisin Seiki Co. Ltd., Delphi Automotive PLC, Johnson Electric, SHW AG, Magna International Inc., Mikuni Corporation, and JTEKT Corporation.

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P&S Market Research is a global market research and consulting company. We provide market research reports, industry reports, business intelligence and research based consulting services across a range of industries.