How Has The Fuel Transfer Pumps Market Size Evolved In Recent Years?
The fuel transfer pumps market has seen considerable growth due to a variety of factors.
• In recent years, the market size for fuel transfer pumps has exhibited significant growth. The market is projected to expand from $1.87 billion in 2024 to $1.97 billion in 2025, representing a compound annual growth rate (CAGR) of 5.3%. Factors such as consumer preferences, needs of the energy sector, industrialization, urban development, construction, demand from the oil and gas industry, and an increase in fuel consumption have driven the growth during the historic period.
What are the Market Size and Expected Growth Rates for the Fuel Transfer Pumps Market?
The Fuel Transfer Pumps market is expected to maintain its strong growth trajectory in upcoming years.
• The market for fuel transfer pumps is anticipated to witness substantial growth in the coming years, expanding to a size of $2.54 billion in 2029 with a compound annual growth rate (CAGR) of 6.5%.
Factors contributing to this projected growth over the forecast period are product innovation, remote monitoring solutions, growth in emerging markets, and industrial growth, as well as urban development projects and investments in energy infrastructure. Noteworthy trends during the forecast period encompass safety and efficiency improvements, surge in fuel demand, trend towards renewable energy, industry expansion and use of agricultural machinery.
Which Key Drivers Are Propelling The Fuel Transfer Pumps Market's Growth?
The growth of the fuel transfer pumps market is projected to be driven by the expansion of the automotive industry. Fuel transfer pumps, which are used in vehicles with advanced injection systems for their safety, effectiveness, and minimal power loss capability, contribute to this growth. Electric vacuum fuel transfer pumps also help reduce carbon dioxide emissions from engines. In 2023, the global automotive industry witnessed significant growth, as reported by the Organisation Internationale des Constructeurs d'Automobiles (OICA), a French international association of car manufacturers. Their data shows an increase in total vehicle production to 93546599 units in 2023, up from 85016728 units in 2022. Consequently, the thriving automotive industry is a primary driver for the fuel transfer pumps market's expansion.
What Are The Key Segments Within The Global Fuel Transfer Pumps Market?
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
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How Are New Trends Impacting The Size Of The Fuel Transfer Pumps Market?
The fuel transfer pumps market is witnessing growing popularity due to key trend of technological advancements. To maintain their market position, leading companies are innovating fuel transfer pumps with striking features such as permanent magnet motors, self-cleaning filters, high-speed dual-side dispensing, and more. For example, SVANEHØJ Danmark A/S, a Denmark-based designer and manufacturer of pumps for offshore installations, announced in September 2022, a new fuel pump for LNG-powered ships. Their latest offering, the CS pump, is a submerged pump positioned at the base of the tank. This CS fuel pump (short for cryogenic submerged) introduces two major innovations in the market - a self-cleaning LNG filter to prevent blockages leading to increased wear and operational disruptions, and a new permanent magnet motor promising increased efficiency and reduced energy consumption compared to other motors.
Who Are the Key Players In The Fuel Transfer Pumps Market?
Major companies operating in the fuel transfer pumps market include:
• 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
What Are The Regional Insights Into The Fuel Transfer Pumps Market?
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.
