An automotive electric fuel pump is used on engines with fuel injection to mainly pump fuel from the gas tank to the injectors. The pump normally delivers the fuel under high pressure, typically 30 to 45 psi depending on the application so that the injectors can spray the fuel into the engine.
The global automotive electric fuel pump market was USD 10.49 billion in 2018 and is estimated to reach USD 15.54 billion by 2025 at a CAGR of 5.77% during the forecast period.
Request For Report sample @ https://www.trendsmarketresearch.com/report/sample/3920
Growth by Region
Asia-Pacific leads the market with 53.5% of the market share in 2018 owing to the increasing demand for passenger cars leading to their subsequent rise in production in countries such as India and China. North America, on the other hand, holds the second position due to the increase in disposable income paired with improvements in the standard of living of people in the region. Growth factors for Europe include the presence of major automobile manufacturers and rapid technological developments in the region..
Drivers vs Constraints
The market is mainly driven by a large number of sales of automobiles. Also, the growing emphasis on efficiency of a vehicle, rising popularity of brushless electric fuel pumps, and the evolving trend towards electrification of vehicle components are also propelling the growth. However, the growth is hindered by evolving consumer preference towards electric cars from conventional vehicles due to the rising fuel prices.
Industry Trends and Updates
DENSO, the world’s second largest mobility supplier had planned to invest USD 100 million over a four-year period in startup companies around the world to advance mobility providing software-based solutions focused on electrification, automated driving, and connectivity.
Delphi Product and Service Solutions have announced 137 new fuel modules along with seven new electric fuel pumps covering more than 13.9 million vehicles such as Ford, Chrysler, Chevrolet, Nissan and Hyundai vehicles.
More Info of Impact Covid19 @ https://www.trendsmarketresearch.com/report/covid-19-analysis/3920