The global automotive fuel transfer pumps market was valued at $49,052.6 million in 2015, and it is expected to grow at a CAGR of 4.7% during 2016 - 2022. Changing consumer preferences and technological advancements are expected to drive the demand for automotive fuel transfer pumps over the forecast period. The ongoing technological advancements such as interactive safety systems, self-driving cars and vehicle connectivity are expected to change the global scenario of the automotive industry over the forecast period. Currently, automobiles are being launched with smart features and technology that abide with the latest standards such as safety, emission, performance and quality. The demand of such products with superior comfort features is also increasing.
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In past ten years span, the manufacturing companies are actively engrossed in the integration of various technologies such as automatic transmission, gasoline turbochargers, gasoline direct injection and power steering. To fulfill these requirements, dedicated automotive fuel transfer pumps are required for the efficient operation of automobile. With the rapidly changing dynamics of automotive industry, these technologies are likely to augment the growth of global automotive fuel transfer pumps market.
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Some of the major players operating in the global automotive fuel transfer pumps market include Robert Bosch GmbH, Denso Corporation, Continental AG, Aisin Seiki Co. Ltd., Delphi Automotive PLC, Johnson Electric, SHW AG, Magna International Inc., Mikuni Corporation, and JTEKT Corporation.
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