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.
The global automotive fuel transfer pumps market is witnessing increasing adoption of electric pumps, growing demand for smart automobiles and the replacement of gasoline port fuel injection by gasoline direct injection technology. This is expected to positively impact the market growth over the forecast period.
In 2015, Asia-Pacific accounted for the largest share in the global automotive fuel transfer pumps market; whereas the market in Middle East and Africa is expected to grow at the fastest rate, during the forecast period. The major reason for the fast growth of the market in the Middle East and Africa includes increasing investments in technology up gradation and burgeoning demand for passenger cars and light commercial vehicles in this region.
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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.