Automotive Fuel Tank Market: Current Analysis and Forecast (2023-2030)

The automotive fuel pump market refers to the industry or sector involved in the manufacture, distribution, and sale of automotive fuel pumps. Fuel pumps are essential components in vehicles and machinery that enable the transfer of fuel from the fuel tank to the engine, ensuring proper fuel supply for combustion. With the growing focus on reducing carbon emissions and increasing fuel efficiency, there is a rising demand for vehicles that consume less fuel. This has led to an increased demand for automotive fuel pumps that can deliver the right amount of fuel to the engine, thereby improving overall fuel efficiency.

The Automotive Fuel Pump Market is expected to grow at a strong CAGR of 5.95% during the forecast period owing to the significant growth, particularly in emerging economies. This growth is driving the demand for automotive fuel pump systems in vehicles. Governments globally are implementing strict regulations regarding emissions standards and fuel economy. To comply with these regulations, automakers are increasingly incorporating advanced automotive fuel pump systems that can deliver fuel more efficiently, reduce emissions, and meet the required standards. For instance, In 2021 Delphi Technologies introduced the Dynamic Skip Fire (DSF) automotive fuel pump, which optimizes fuel delivery based on engine demand, improving fuel economy.

Based on vehicle type, the market is segmented into two-wheelers, three-wheelers, passenger cars, and commercial vehicles. Amongst these, the passenger cars segment dominated the market in 2022. This is because passenger cars make up a large portion of the total vehicles on the road. They are preferred by individual consumers as a mode of transportation, leading to a higher demand for automotive fuel pumps in this segment. Moreover, the automotive industry has witnessed significant technological advancements in recent years, especially in fuel efficiency and emissions reduction. Passenger cars are at the forefront of these innovations, driving the need for more efficient automotive fuel pumps.

Based on technology, the market is segmented into mechanical and electric. The electric segment has significant growth in the automotive fuel pump market because electric automotive fuel pumps allow for better control over fuel delivery and pressure regulation. They can deliver the fuel more accurately, resulting in higher fuel efficiency. This efficiency gain is particularly beneficial for conventional internal combustion engine vehicles, where fuel consumption is a significant concern. As consumers and automakers prioritize fuel efficiency, electric automotive fuel pumps have gained popularity. Moreover, Electric automotive fuel pumps have shown improved performance in terms of reliability and durability compared to mechanical pumps. They have fewer moving parts, reducing the likelihood of mechanical failure. Additionally, electric automotive fuel pumps can be better integrated with vehicle control systems, allowing for more efficient monitoring and diagnosis. These factors attract consumers and manufacturers seeking long-lasting and reliable automotive fuel pump solutions

For a better understanding of the market adoption of the automotive fuel pump industry, the market is analyzed based on its worldwide presence in countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, UK, Netherlands, France, Norway, Switzerland, Denmark, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), Rest of World. Asia Pacific dominated the automotive fuel pump market because the Asia Pacific region is home to rapidly expanding automotive industries, especially in countries like China, India, and Japan. As a result, there has been considerable demand for automotive fuel pumps to support the increasing number of vehicles on the road. The region's population is continuously expanding, alongside a significant increase in urbanization. As people migrate to cities, there is an augmented need for efficient transportation systems, leading to a greater demand for automotive fuel pumps to cater to the rising number of vehicles. For instance, India's urban population is expected to reach 416 million by 2030. This population growth creates an immense market for automotive fuel pumps to facilitate transportation within cities.

Some of the major players operating in the market include: HELLA, Marelli Holdings Co., Ltd., AISIN CORPORATION, Robert Bosch LLC, Continental AG, Phinia Inc., Hitachi Astemo, Ltd, Johnson Electric Group, VALEO GROUP, and Carter Fuel Systems, LLC.