According to a new report published by UnivDatos Markets Insights, the Fuel Transfer Pumps Market is expected to grow at a CAGR of around 6% from 2022-2028. The analysis has been segmented into Products (AC fuel transfer pumps, DC fuel transfer pumps, and hand fuel transfer pumps); Motor (12V DC, 24V DC, 115V DC, 230V DC, and Others); Mounting (Fixed and Portable); Application (Construction, Transportation, Agriculture, Chemical, Mining, Food & Beverage, and Others.) Region/Country.
The fuel transfer pumps market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the fuel transfer pumps market. The fuel transfer pumps market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the fuel transfer pumps market at the global and regional levels.
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Fuel transfer pumps are delineated to deliver various kinds of liquid fuel from one unit to another through a network of pipes, lines, and tubing. Fluids such as gasoline, diesel, motor oil, and kerosene are ideally transferred from the storage drum or tanks to the vehicle, construction equipment, aircraft, and other mobility vehicles/machinery. Also, fuel transfer pumps are widely used for high-pressure fuel delivery. In recent times, fuel transfer pumps have witnessed a significant demand owing to rapid industrialization and construction activities coupled with the growing demand from various industries such as aerospace, chemical, mining, agriculture, and water & wastewater treatment, among others.
Factors such as technological advancement coupled with the growing number of industries and manufacturing units along with the new product launches in the market are some of the prominent factors that are positively influencing the market growth globally.
Some of the major players operating in the market include Graco Inc, Tuthill Transfer System, Great Plains Industries Inc., INTRADIN, Johnson Electric, Delphi Automotive Plc., Continental Ag, Denso Corporation, Mach Power Point Pumps India Pvt. Ltd., Magna International Inc.
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The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The global pandemic has impacted the manufacturing industry along with supply chain disruption, regulatory and policy changes, labor reliance, working capital management, and liquidity & solvency management. The fuel transfer pumps market has been significantly affected during these times owing to the gap between supply and demand.
The global fuel transfer pumps market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on the motor, the market is segmented into 12V DC, 24V DC, 115V DC, 230V DC, and others. The 12V DC segment is expected to witness significant demand during the forecast period due to their increasing utilization of the light pumping option for fuels such as diesel fuel, kerosene, biodiesel, and others. Also, the 12V DC fuel transfer pumps are widely used at the location where refueling is required and main power is unavailable. Furthermore, the 12V DC segment is lighter in weight, portable, and could be used at remote locations as well as for mobile fueling. These factors are expected to support the market growth for the 12V DC during the forecast period.
· Based on mounting, the market is segmented into the portable and fixed segment. The fixed fuel transfer pump segment is expected to witness significant market growth during the forecast period owing to its operability at lower temperatures and increasing adoption for refueling applications at the retail outlet. Additionally, the increasing demand for industrial purposes owing to the sturdy structure and greater reliability is expected to support the market growth for fixed fuel transfer pumps during the forecast period.
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Fuel Transfer Pumps Market Geographical Segmentation Includes:
· North America (United States, Canada, and the Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
Asia-Pacific is anticipated to grow at a substantial CAGR during the forecast period. Asia-Pacific is anticipated to grow at a substantial CAGR during the forecast period. This is due to the rapid industrialization and growing automotive industries coupled with the advancement in the manufacturing industries. Also, the growing number of construction projects and increasing disposable income along with the growing investment in the region is expected to support the market growth in the continent. For instance, China has registered a total sale of 20.18 million units of passenger vehicles & 5.13 million commercial vehicles in the year 2020, and 21.48 million units of passenger vehicles & 4.79 million units of commercial vehicles for the year 2021. The increase in the number of vehicles is expected to propel the market growth in the region during the forecast period.
The major players targeting the market include
· Graco Inc.
· Tuthill Transfer System
· Great Plains Industries Inc.
· Johnson Electric
· Delphi Automotive Plc.
· Continental Ag
· Denso Corporation
· Mach Power Point Pumps India Pvt. Ltd.
· Magna International Inc
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the fuel transfer pumps market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the fuel transfer pumps market?
• Which factors are influencing the fuel transfer pumps market over the forecast period?
• What are the global challenges, threats, and risks in the fuel transfer pumps market?
• Which factors are propelling and restraining the fuel transfer pumps market?
• What are the demanding global regions of the fuel transfer pumps market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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