Report ID: SQMIG25A2153
Automotive Electric Fuel Pumps Market Size, Share, Growth Analysis, By Product Type(Brushed DC, Brushless DC), By Application(Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles), By Technology(Turbine Style, Sliding Vane, Roller Vane), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25A2153 |
Region:
Global |
Published Date: July, 2001
Pages:
165
|
Tables:
89 |
Figures:
76
Automotive Electric Fuel Pumps Market Regional Insights
In 2022, Asia Pacific led the automotive electric fuel pumps market in terms of value, holding a share of more than 59.0 %. Over the course of the forecast, it is anticipated to display the greatest CAGR.
One of the main development drivers for the regional market is the high demand for passenger cars and large commercial vehicles among consumers and industrial uses in important growing nations like India, China, and Korea. With a growing preference for the automobile pump, China is today regarded as the largest automotive market in the world. The country's quick improvement in hybrid automotive vehicles has created a shift away from new car sales that offers appealing market potential in China. Important automakers like Toyota, Hyundai, Honda, and Suzuki have also developed production facilities in APAC, which has lowered total car prices and increased passenger vehicle usage in the region.
The forecast period is expected to see unheard-of growth in the commercial vehicle and passenger car segments, with North America projected to experience the highest compound annual growth (CAGR) rate. This is a result of the region's expanding road infrastructure.
Automotive Electric Fuel Pumps Market Report Snapshots
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