Pune, May 10, 2023 (GLOBE NEWSWIRE) -- “The Fuel Transfer Pumps Market had a valuation of USD 1.75 billion in 2022, and it is projected to attain a value of USD 2.63 billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 5.21% during the forecast period spanning from 2023 to 2030, as per SNS Insider.”
Market Overview
Fuel transfer pumps are devices used for transferring fuel from one container to another, typically from a storage tank to a vehicle or equipment. These pumps can handle various types of fuels, such as diesel, gasoline, and kerosene, among others. They come in various sizes and styles to accommodate different applications, ranging from small portable pumps to large industrial pumps.
Market Analysis
Fast-paced industrialization has also contributed to the growth of the fuel transfer pumps market. The industrialization has led to an increase in the use of heavy machinery and equipment that requires a significant amount of fuel. This has created a need for fuel transfer pumps that can transfer large volumes of fuel quickly and efficiently. Growth in infrastructure has also had a positive impact on the market. The development of new highways, airports, and seaports has led to an increase in the demand for fuel transfer pumps to meet the growing demand for fuel.
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Key Company Profiles Listed in this Report are:
The major key players are Great Plains Industries, Inc, Tuthill Transfer Systems (TTS), Graco Inc, Piusi S.p.A, INTRADIN, YUANHENG MACHINE CO., LTD, ARO (Ingersoll-Rand plc), GESPASA - TOT COMERCIAL S.A, Creative Engineers (Malhar Pumps), MACH POWERPOINT PUMPS INDIA PVT. LTD. & more
Impact of Recession on Fuel Transfer Pumps Industry
It is important to note that the impact of a recession on the fuel transfer pumps market may vary depending on the severity and duration of the economic downturn, as well as the industry's reliance on fuel transfer pumps. In some cases, government stimulus packages and other economic policies can help to mitigate the effects of a recession on the market.
Fuel Transfer Pumps Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 1.75 Billion |
| Market Size by 2030 | US$ 2.63 Billion |
| CAGR | CAGR 5.21% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Fuel Transfer Pumps Market: Key Segmentation | • By Type (AC Fuel Transfer Pump, DC Fuel Transfer Pump, Hand Fuel Transfer Pump) • By Mounting (Fixed and Portable) • By Motor Type (12V DC, 24V DC, 115V AC, 230V AC, Others) • By Application (Construction, Mining, Agriculture, Chemical, Military, Transportation, Food & Beverage, Others) |
| Key Regional Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
Key Regional Developments
The Asia Pacific region is expected to dominate the fuel transfer pumps market in the coming years, owing to the growing demand for fuel in countries such as China, India, and Japan. The increasing population and rapid urbanization in these countries have resulted in a significant increase in the demand for fuel, driving the growth of the market. Additionally, the region's growing industrialization and rising demand for transportation services have further boosted the market's growth. Similarly, North America is also expected to dominate the market due to the growing demand for fuel in the region. The United States and Canada are the largest consumers of fuel in the world, and the increasing demand for fuel in these countries is expected to drive the growth of the market.
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Key Takeaway from Fuel Transfer Pumps Market Study
- The AC fuel transfer pump segment is poised to dominate the market in the coming years. With their high efficiency, low maintenance requirements, and reliability, AC fuel transfer pumps are the preferred choice for many industries and applications.
- The construction segment is expected to dominate the market in the coming years. This growth can be attributed to the increasing demand for fuel transfer pumps in the construction industry, which is a key consumer of fuel for heavy machinery and equipment.
Recent Developments Related to the Fuel Transfer Pumps Market
- EzFill, a provider of mobile fueling solutions, and AMS Energy Technologies, a manufacturer of advanced energy storage and power systems, have recently announced their partnership to initiate a trial program to assess the potential of using portable fuel transfer pumps in powering AMS's energy storage systems.
- Delphi Technologies, a global provider of advanced propulsion solutions, showcased their latest innovation in fuel pump technology, the Sparta fuel pumps, at the Automotive Aftermarket Products Expo (AAPEX) held recently. The Sparta fuel pumps feature an advanced design that delivers superior performance, durability, and reliability.
Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Fuel Transfer Pumps Market Segmentation, by Type
9. Fuel Transfer Pumps Market Segmentation, by Mounting
10. Fuel Transfer Pumps Market Segmentation, by Motor Type
11. Fuel Transfer Pumps Market Segmentation, by Application
12. Regional Analysis
13. Company Profiles
14. Competitive Landscape
15. Conclusion
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