The global automotive electric fuel pumps market research report by Technavio predicts the market to post a CAGR of close to 7% during the period 2019-2023.
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Technavio has released a new market research report on the global automotive electric fuel pumps market for the period 2019-2023. (Graphic: Business Wire)
The global automotive industry is observing a transition in the fuel delivery system department. The automakers are concentrating on improving the performance, fuel efficiency, safety and comfort levels, reducing emissions, and differentiating their product offerings to attain a competitive edge. The penetration rate of electronic fuel-injected vehicles has been increasing as these vehicles deliver high performance and superior mileage and reduce emissions. This is boosting the growth of the global automotive electric fuel pumps market.
As per Technavio, the introduction of advanced OBD in automotive fuel injection systems will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global automotive electric fuel pumps market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
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Global automotive electric fuel pumps market: Advanced OBD in automotive fuel injection systems
The technological advancements and greater use of electronics in fuel injection technology have taken efficiency improvements to a different level. The stringent vehicular emissions have augmented the requirement for a more advanced onboard diagnostics (OBD) solution to enhance the efficiency levels of modern electronic fuel injection systems. The implementation of stringent vehicular emissions norms such as Euro 6 is driving developments in OBD standards for monitoring automotive powertrain systems and components.
“The implementation of Euro 6 emission standards has increased OBD requirements, including heavy commercial vehicles along with passenger vehicles. More stringent OBD threshold values and type approval are required based on the World Harmonized Test Cycle for heavy trucks. Furthermore, Euro 6 OBD requirements include EG flow and EGR cooling system among others,” says a senior research analyst at Technavio.
Global automotive electric fuel pumps market: Segmentation analysis
This automotive electric fuel pumps market analysis report segments the market by application (passenger vehicles and commercial vehicles) and geography (APAC, Europe, Middle East, and Africa, North America, and South America).
The passenger vehicles segment held the largest automotive electric fuel pumps market share in 2018, accounting for nearly 83% of the market. This application segment is expected to dominate the global market throughout the forecast period.
The APAC region led the market in 2018 with more than 54% of the market share, followed by Europe and North America respectively. The APAC region is expected to dominate the market throughout the period 2019-2023.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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