Global Automotive Electric Fuel Pumps Market 2019-2023 | 7% CAGR Projection over the Next Five Years | Technavio
LONDON--(BUSINESS WIRE)--Nov 8, 2019--
The automotive electric fuel pumps market size is expected to post a CAGR of close to 7% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global automotive electric fuel pumps market 2019-2023. (Graphic: Business Wire)
The growing sale of electronic fuel injected vehicles is one of the major reasons for the automotive electric fuel pumps market growth. The automotive industry has witnessed a transition in the fuel delivery system as electronic fuel-injected vehicles deliver higher performance and superior mileage along with lower emissions. This will boost the adoption of electric fuel-injected vehicles during the forecast period, which in turn will drive the market growth.
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As per Technavio, advanced OBD in automotive fuel injection systems will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Automotive Electric Fuel Pumps Market: Advanced OBD in Automotive Fuel Injection Systems
Technological advancements and greater use of electronics in fuel injection technology have taken efficiency to a different level. Also, stringent vehicular emission regulations such as Euro 6 necessitate advanced onboard diagnostics (OBD) solutions to enhance the efficiency level of modern electronic fuel injection systems.
“Other factors such as new developments in the field of automotive fuel injection systems, and growing penetration rate of gasoline direct injection system will have a significant impact on the growth of the automotive electric fuel pumps market value during the forecast period,” says a senior analyst at Technavio.
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Automotive Electric Fuel Pumps Market: Segmentation Analysis
This market research report segments the automotive electric fuel pumps market by Application (Passenger vehicles and Commercial vehicles) and Geography (APAC, Europe, Middle East, and Africa, North America, and South America).
The APAC region held the largest share of the market in 2019, followed by Europe, North America, South America, and MEA respectively. The growth of the automotive electric fuel pumps market share in APAC can be attributed to several factors such as the high demand for commercial vehicles, growing penetration of advanced automotive technologies in powertrain and other areas, and stringent emission standards.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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