Newark, Dec. 20, 2022 (GLOBE NEWSWIRE) -- The Fuel transfer pump market was estimated at around USD 1.65 billion in 2021, growing at a CAGR of nearly 4% during 2022-2030. The market is projected to reach approximately USD 2.35 billion by 2030.
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Fuel Transfer Pump Market: Overview
Fuel transfer pumps are machines that move liquids from one component to another or through a system of pipes, tubes, and lines. Transferring fuel from storage tanks or drums to trucks, cars, aero planes, construction equipment, agricultural machinery, or other mobile machinery is ideal for diesel, gasoline/petroleum, kerosene, or motor oil. Gasoline at high pressure is continuously available from these pumps. While the fuel transfer operation is taking place, the engine needs a constant supply of high-pressure gasoline. Additionally, rising demand for cars that are more fuel-efficient as well as the growth of the automotive industry are projected to propel market revenue growth over the course of the forecast year.
Growth Factors
The key drivers of the increased demand for gasoline include rising urbanization, technological advancements, rapid industrialization, and infrastructural expansion. These factors are anticipated to positively affect growth. The market is expected to increase over the anticipated period due to the increasing demand for fuel transfer pumps in the chemical production sectors. Fuel transfer operations require a steady supply of high-pressure gasoline, which these pumps deliver. High demand for fuel transfer pumps in the chemical industries is also caused by expanding infrastructure and urbanization, which is fueling the market's expansion.
The growing awareness of the need for energy conservation and pollution reduction is the primary factor driving the market expansion for fuel transfer pumps over the expected timeframe. Extremely energy-efficient fuel transfer pumps are in high demand because of their numerous applications, eco-friendly building practices, and excellent efficiency. The market is expected to grow throughout the projected year due to factors like increased awareness and stringent local, national, and international laws and regulations.
In the upcoming years, the market is anticipated to be driven by increasing end-user demand for fuel transfer pumps that can efficiently transfer a precise amount of fuel. Furthermore, market growth is anticipated over the next few years as a result of the expansion of the automotive sector brought on by technological advancements and rising consumer demand for fuel-efficient vehicles. Construction operations are being driven by the rapid population growth. It follows that the global market is expected to grow as a result of the expansion of the construction and building sector. In the next years, it is anticipated that increased consumer disposable income and economic growth would feed car manufacturing, which will in turn fuel the market for gasoline transfer pumps worldwide. The market is expected to grow in the near future as a result of rising demand for fuel transfer pumps from a variety of industries, including oil & gas, aerospace, automotive, construction, mining, agricultural, chemical production, food & beverage, water & wastewater treatment, and military. Additionally, a rise in the demand for high-pressure fuel systems for heavy-duty vehicles is boosting the market.
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Segmental Overview
The market for fuel transfer pump market is segmented into the type, motor type, and application. According to the type, the DC FTP segment is expected to increase at the quickest rate. This is ascribed to benefits such their small size, dependability, and application flexibility. Automobiles, earthmoving equipment, and construction yards typically use these pumps as the primary systems.
Over the projected period, the 12V DC segment is expected to record the largest revenue by motor type. These pumps are mostly used for pumping light oils like biodiesel, fuel, and kerosene. The 12V DC segment is employed in applications where a flow rate of 8 to 15 gallons per minute is necessary (GPM). When mains power is not available and refueling is necessary, 12V DC segments are used. When refueling, these products can be connected to the vehicle's battery using clips and cables. Due to their portability, these pumps are ideal for off-site, remote, and mobile fueling in the construction and agricultural industries.
During the forecast period, it is predicted that the transportation sector will account for a significant portion of the market for gasoline transfer pumps. The transportation application sector dominated the market since gasoline transfer systems were used for vehicle refueling on a global scale. Due to the rising popularity of natural gas vehicles, which would also raise the demand for fuel stations, a sizable need for FTPs is also projected throughout the forecast period.
Regional Overview
In the market for gasoline transfer pumps, Asia-Pacific represented the largest market share of the overall market. Due to the region's strong economic growth, increased corporate investment spending, and notable gains in industrial production in countries like China, India, and Japan, Asia Pacific is predicted to have the quickest pace of expansion. Additionally, it is projected that increased car production and sales will boost regional market growth by raising need for refueling.
Governments in North America announced a variety of economic stimulus programs as a result of the outbreak. The demand for these products in the construction industry is expected to expand as a result of the increased infrastructure development activities in the area. However, given the current situation in Russia and Ukraine, economic growth may be slowed down. This is because of inflation and fluctuating raw material prices, which are anticipated to have an effect on these commodities in the region.
Report Scope
| Base Year | 2021 |
| Forecast period | 2022-2030 |
| Report Coverage | Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
| Market Size(unit) | USD Billion |
| Fuel transfer pump Market CAGR | 4% |
| Segments Covered | By Type By Motor Type By Application |
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List of the prominent players in the Global Fuel transfer pump market:
• Piusi S.p.A.
• Graco Inc.
• MALHAR CORPORATION
• Groz Engineering Tools (P) Ltd.
• Tuthill Corporation.
• GoatThroat Pumps - Westcott Distribution Inc
• SPATCO.
• Shi Instruments Private Limited.
• INTRADIN
• Pricol Limited
The global Fuel transfer pump market is segmented as follows:
By Type
• AC Fuel Transfer Pump
• DC Fuel Transfer Pump
• Hand Fuel Transfer Pump
By Motor Type
• 12V DC
• 24V DC
• 115V AC
• 230V AC
• Others
By Application
• Construction
• Mining
• Agriculture
• Military
• Transportation
• Food & Beverage
• Others
By Region/Geography
• North America
o The U.S.
o Canada
o Mexico
• Europe
o France
o The UK
o Spain
o Germany
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Australia
o South Korea
o Rest of Asia Pacific
• The Middle East & Africa
o Saudi Arabia
o UAE
o Egypt
o Kuwait
o South Africa
o Rest of the Middle East & Africa
• Latin America
o Brazil
o Argentina
o Rest of Latin America
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About the report:
The global Fuel transfer pump market is analyzed on the basis of value (USD million). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, and competitor position grid analysis.
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