Fuel Transfer Pumps Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
A fuel transfer pump simply moves fuel between tanks or from a container to a nozzle so it can be poured into a vehicle. They are widespread in industries like mining, agriculture, and construction where tools and vehicles are frequently used.

Sizing and Forecast
The fuel transfer pumps market size has grown strongly in recent years. It will grow from $1.79 billion in 2023 to $1.9 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to consumer preferences, energy sector requirements, industrialization, urban development and construction, oil & gas industry demand, increased fuel consumption..

The fuel transfer pumps market size is expected to see strong growth in the next few years. It will grow to $2.4 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to product innovation, remote monitoring solutions, emerging markets and industrial growth, urban development projects, energy infrastructure investments.. Major trends in the forecast period include safety and efficiency, rise in fuel demand, shift towards renewable energy, industrial expansion, agricultural machinery..

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Segmentation & Regional Insights
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

Asia-Pacific was the largest region in the fuel transfer pumps market in 2023. The regions covered in the fuel transfer pumps market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
Expansion of the automotive industry is expected to propel the growth of the fuel transfer pumps market going forward. Fuel transfer pumps refer to the pumps that are employed in vehicles with sophisticated injection systems because they are relatively safe and effective and provide fuel to the engine with little power loss. The decrease of carbon dioxide emissions from engines is also aided by electric vacuum fuel transfer pumps. For instance, in May 2022, according to an article published by CEIC Data, a US-based provider of macro and micro economic data insights, 9.2 million units of motor vehicles were produced in the US in 2021, a rise from the previously reported figure of 8.8 million units for December 2020. Therefore, the expansion of the automotive industry is driving the growth of the fuel transfer pumps market.

Key Industry Players
Major companies operating in the fuel transfer pumps market report are 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, SHW Storage & Handling Solutions GmbH, Magna International Inc., 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

The fuel transfer pumps market report table of contents includes:

1. Executive Summary

2. Fuel Transfer Pumps Market Characteristics

3. Fuel Transfer Pumps Market Trends And Strategies

4. Fuel Transfer Pumps Market – Macro Economic Scenario

5. Global Fuel Transfer Pumps Market Size and Growth

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31. Global Fuel Transfer Pumps Market Competitive Benchmarking

32. Global Fuel Transfer Pumps Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Fuel Transfer Pumps Market

34. Fuel Transfer Pumps Market Future Outlook and Potential Analysis

35. Appendix

Top Major Players:

Piusi S.p.A,

Graco Inc.,

Creative Engineers,

Groz Engineering Tools Ltd.,

Tuthill Corporation,

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