Fuel Transfer Pumps Market Growth Factors, Competitive Landscape and Revenue Forecast till 2030

Posted on 2023-01-11 by researchinsights in Industrial // 0 Comments

San Francisco, California , USA, Jan 12, 2023 — /EPR Network/ —

Fuel Transfer Pumps Industry Overview

The global fuel transfer pumps market size was estimated at USD 1.71 billion in 2021 and is anticipated to grow at a compounded annual growth rate (CAGR) of 4.9% from 2022 to 2030.

Rising urbanization, technological developments, fast-paced industrialization, and growth in infrastructure are the major factors contributing to the increased demand for fuel, is expected to have a positive impact on growth.

Strict lockdowns implemented by the governments across the globe, in light of the onset of the COVID-19 pandemic in 2020 adversely affected the industry growth due to the closure or limited functioning of industries such as transportation, construction, mining, chemical, agriculture among others. However, due to unending government initiatives, the COVID-19 pandemic had a limited short-term impact on few industries.

Gather more insights about the market drivers, restrains and growth of the Global Fuel Transfer Pumps Market

Rising awareness regarding energy conservation and mitigating pollution, during COVID-19 pandemic is expected to prompt market participants to develop highly energy-efficient fuel transfer pumps. Factors such as increasing awareness regarding eco-friendly products, stringent regional, national, and international frameworks are expected to boost the demand for eco-friendly products which compels the fuel transfer pump manufacturers to opt for such practices which reduces burden on the environment.

Fuel transfer pumps help in the controlled transfer of fuel. Continuous developments in the manufacturing techniques of fuel transfer pumps have led to an increase in the applications of these pumps. Growing oil & gas consumption worldwide is expected to have a positive impact on the industry during the forecast period.

Emerging economies in the Asia Pacific, including China and India, are experiencing rapid urbanization and industrialization over the past few years, and the trend is expected to continue during the forecast period. The growth and evolution witnessed by leading industrial verticals, such as chemical, construction, and automotive, have subsequently boosted demand for this product.

Over the forecast period, rising sales of electric vehicles are expected to stifle the growth of the market. Because these cars run on electricity, they do not require any refilling. As a result, the market for fuel transfer pumps is likely to be restrained by the rising use of electric vehicles over the forecast period.

Browse through Grand View Research’s Drilling & Extraction Equipments Industry Research Reports.

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Fuel Transfer Pumps Market Segmentation

Grand View Research has segmented the global fuel transfer pumps market based on type, mounting, motor type, application, and region:

Type Outlook (Revenue, USD Million, 2017 – 2030)
- AC Fuel Transfer Pump
- DC Fuel Transfer Pump
- Hand Fuel Transfer Pump
Mounting Outlook (Revenue, USD Million, 2017 – 2030)
- Fixed
- Portable
Motor Type Outlook (Revenue, USD Million, 2017 – 2030)
- 12V DC
- 24V DC
- 115V AC
- 230V AC
- Others
Application Outlook (Revenue, USD Million, 2017 – 2030)
- Transportation
- Construction
- Mining
- Agriculture
- Chemical
- Food & Beverage
- Military
- Others
Regional Outlook (Revenue, USD Million, 2017 – 2030)
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)

Key Companies profiled:

Some prominent players in the global Fuel Transfer Pumps market include

Great Plains Industries, Inc
Tuthill Transfer Systems (TTS
Graco Inc
Piusi S.p.A
INTRADIN
YUANHENG MACHINE CO., LTD
ARO (Ingersoll-Rand plc)
GESPASA – TOT COMERCIAL S.A
Creative Engineers (Malhar Pumps)
MACH POWERPOINT PUMPS INDIA PVT. LTD.

Order a free sample PDF of the Fuel Transfer Pumps Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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