Albany, NY -- (SBWIRE) -- 08/15/2018 -- Fuel pumps are one of the most vital components of an automobile engine. Such pumps are used to pump out fuel from the fuel tank and deliver it to the engine for internal combustion of engine. There are three different types of fuel pumps such as electrical pumps, mechanical pumps and turbo pumps. Turbo pumps are used in rocket or jet engines whereas mechanical pumps find application in carburetor engines. Carburetor engines have now been replaced by fuel injection engines due to which electric fuel pumps have taken over the obsolete mechanical pumps.
Increasing production of vehicles and rising demand for passenger vehicles is a major driving factor for the automotive electric fuel pumps market. In addition, rising trend of engine downsizing is another major factor influencing the growth of light-weight and advanced electric fuel pumps ensuring better fuel efficiency in vehicles. Moreover, growth in the automotive sector and rising investments in automotive electric fuel pump manufacturing companies across the world is set to influence the market significantly during the forecast period.
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However, growing popularity and usage of electric vehicles is set to negatively impact the market. In addition, rising fuel price is another inhibiting factor for the global automotive electric fuel pumps market. In the coming years, due to the rising fuel prices, a number of automobile users is expected to change their preference from conventional vehicles to electric vehicles, where electric fuel pumps do not find any application.
The automotive electric fuel pumps market can be classified by application, by vehicle type and by geography. The application segment can be classified into gasoline and diesel engines. By vehicle type, the market can be segregated as passenger vehicles, light commercial vehicles and heavy commercial vehicles. By geography, the market can be segmented into North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
In the automotive electric fuel pumps market, Asia Pacific holds the largest market share in terms of revenue followed by Europe, North America, Latin America and, Middle East and Africa (MEA). In the Asia Pacific region, countries such as China and India has been witnessing heavy demand and production for passenger vehicles. This in turn is increasing the application of electric fuel pumps in passenger vehicles of above mentioned countries. In Europe, Germany is the most significant market and the largest contributor to the automotive electric fuel pumps market in the region because of the presence of major automobile manufactures in Germany. In North America, the U.S. is the largest market for automotive electric fuel pumps. The U.S. is the second largest manufacturer of automobiles in the world. The growth rate of automotive electric fuel pumps market in Latin America, and Middle East and Africa is low considering the less usage and production of vehicles in the aforementioned regions. However, with the growth in the automotive sector and investments in automobile companies of Latin America and Middle East and Africa, the market for automotive electric fuel pumps is expected to improve in the coming years.
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The report also provides company market share analysis of the various industry participants. Acquisition is the main strategy being widely followed by leading market players. In case of an acquisition, the acquirer takes advantage of existing synergies. As a result, both companies are expected to emerge more profitable and stronger than before. Key players in the global automotive electric fuel pumps market have been profiled and their company overview, financial overview, business strategies and recent developments have been covered in the report. Major market participants profiled in this report include: Robert Bosch GmbH, Continental AG, Delphi Automotive PLC, Denso Corporation, Visteon, Daewha Fuel Pump Industries, Federal-Mogul Corporation, AC Delco and Airtex Fuel Delivery Systems among others.