Automotive Fuel Transfer Pumps Market Set for Prosperity in Future
The automotive fuel transfer pump is an integral part of a vehicle, as it is employed for transmission, lubrication, and transfer of the fuel to the engine. Unlike before, such pumps are now being used for the overall improvement of automobiles’ performance, especially their fuel efficiency. Pumps use electrical or mechanical energy to push the fuel into the combustion chamber of the engine. With the increasing focus on reducing the rate of environmental degradation, manufacturers are coming up with more-efficient pumps, which adhere to the vehicular emission norms of governments worldwide.
The automotive fuel transfer pumps market growth will therefore be driven by the technological advancements in these engine components and changing consumer preference for a higher vehicle fuel efficiency. During the forecast period of 2016–2022,a 4.7% CAGR will propel the global market revenue from $49,052.6 million in 2015 to a considerable value in 2022. Automobile manufacturers are integrating technologies such as power steering, automatic transmission, gasoline direct injection, and gasoline turbochargers, along with efficient automotive fuel transfer pumps, for enhanced the driving experience and complying with emission regulations.
Request to Get the Sample Report: https://www.psmarketresearch.com/market-analysis/automotive-fuel-transfer-pumps-market/report-sample
According to a report by P&S Intelligence, the MEA automotive fuel transfer pumps market is expected to demonstrate the fastest growth during the forecast period. This can be attributed to the surging demand for commercial vehicles and passenger cars in the region, due to the rising disposable income of the inhabitants. Additionally, an increase in the investments in the advancement of the pump technology will boost the growth of the market.
Technological innovations in the automotive sector and related industries will thus contribute to the development of better pumps. Additionally, the rising demand for passenger cars and commercial vehicles will add to the surging procurement of automotive fuel transfer pumps by automakers.
Comments
Post a Comment