Fuel Transfer Pumps Market: Current Analysis and Forecast (2022-2028)

Global Fuel Transfer Pumps Market is expected to grow at a significant rate of around 6% during the forecast period. Fuel transfer pumps are designated to carry various types of liquid fuel from one unit to another Through a network of pipes, lines, and tubing. It is ideal to transfer fluids like gasoline, diesel, motor oil, and kerosene from storage drums or tanks to vehicles, construction machinery, aircraft, and other mobility vehicles/machines. Additionally, fuel transfer pumps are frequently utilized to distribute fuel at high pressure. Fuel transfer pumps have recently been in high demand because of rapid industrialization and construction booms as well as rising demand from a variety of sectors, including water and wastewater treatment, mining, agriculture, aerospace, and chemicals.

Graco Inc, Tuthill Transfer System, Great Plains Industries Inc., INTRADIN, Johnson Electric, Delphi Automotive Plc., Continental Ag, Denso Corporation, Mach Power Point Pumps India Pvt. Ltd., and Magna International Inc. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report:

"Amongst motor, 12V DC category to witness significant market growth during the forecast period"

Based on the motor, the market is segmented into 12V DC, 24V DC, 115V DC, 230V DC, and others. Due to the rising use of the light pumping option for fuels including diesel fuel, kerosene, biodiesel, and others, the 12V DC segment is anticipated to have significant demand during the projection period. Additionally, the 12V DC section is lightweight, portable, and suitable for use in isolated areas as well as for mobile refueling and is expected to support the market growth in the coming time. Also, the faster response time to start, stop and accelerate and longer durability, leak-free design, and fast installation along with the high startup power & torque provides added advantages to the 12 VDC segment and are expected to propel the demand.

"Amongst application, the transportation segment to hold a significant CAGR in the market in 2020"

Based on the application, the market is segmented into construction, transportation, agriculture, chemical, mining, food & beverage, and others. The transportation segment is expected to witness a significant CAGR during the forecast period owing to the diversified transportation mode such as marine, air, road, and rail transport coupled with the increasing demand for fuel-based vehicles. Additionally, the increasing demand for different types of liquid fuels such as kerosene, HSD, gasoline, and lubricating oil among others from the automotive vehicle industries is expected to propel the demand during the forecast period.

"Asia-Pacific to hold a significant share in the market"

In 2020, Asia-Pacific held a significant share of the global fuel transfer pumps market. This is mainly attributed to the rapid industrialization and growing automotive industries coupled with the advancement in the manufacturing industries. Also, the increasing demand for chemicals and expansion in the chemical industry along with technological advancement is expected to support the market growth. Additionally, the expansion of development projects, rising disposable income, and increased investment in the continent are anticipated to boost market expansion. Furthermore, the launch of new products, increasing research & development activities as well as collaboration and merger & acquisition among the leading players will propel the growth during the forecast period. For instance, Shanghai SUOTO Pump Industrial Co., Ltd. offers a wide range of fuel transfer pumps for a variety of applications including KCB 2CY electric oil pumps, KCB gear oil pumps, SB drum oil pumps, and LQRY hot oil pumps among others.

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The study includes market sizing and forecasting analysis validated by authenticated key industry experts.

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The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.

Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

The study comprehensively covers the market across different segments.

Deep dive regional level analysis of the industry.

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