Global Fuel Transfer Pump Market Overview:
Fuel transfer pump is a machine used to transport fuel from the fuel tank to the vehicle or from one place to another. It pulls out the fuel from a major source such as an underground tank and transfers it to a vehicle or a piece of equipment that runs on fuel. A fuel transfer pump can be used for various purposes including refueling vehicles, machinery, and equipment on construction sites. These pumps are used to transfer different liquids and fuels such as diesel, oils, AdBlue, water, petrol, etc.
Growth Drivers
- The Growing Demand For Fuel Transfer Pumps In Automotive Sector Is Rising As It Helps To Transfer Exact Amount Of Fuel In An Efficient Manner
- Increasing Demand Of High Pressure Fuel Transfer Pumps In Heavy Engine Vehicles
Market Trends
- The Use Of Sliding Vane Design Fuel Transfer Pumps Are Increasing
Roadblocks
- The Increasing Use Of Electric Vehicles Effecting The Growth Of Fuel Transfer Pump
Opportunities
- Explosion Proof And Flame Proof Fuel Transfer Pumps Are In Demand
- Fuel Transfer Pumps Are Easy To Install
Challenges
- All Quality Control Tests Must Be Performed Before Using Fuel Transfer Pump To Avoid Incidents
- Many Local Manufacturers Are Present
Competitive Landscape:
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are Piusi S.p.A. (Italy), Graco Inc. (United States), DENSO Corporation (Japan), Robert Bosch GmbH (Germany), Continental AG (Germany), Aisin Seiki Co., Ltd. (Japan), SHW Automotive GmbH (Germany), Johnson Electric (China), Magna International Inc. (Canada) and Mikuni Corporation (Japan). Additionally, following companies can also be profiled that are part of our coverage like JTEKT Corporation (Japan), Pricol Limited (India), Groz Engineering Tools Private Limited (India), Liquidynamics Inc. (United States) and SPATCO Energy Solutions (United States). Considering Market by Flow Rate, the sub-segment i.e. Low speed (35-50 litres per minute) will boost the Fuel Transfer Pump market. Considering Market by Usage, the sub-segment i.e. Agriculture will boost the Fuel Transfer Pump market. Considering Market by Power Source, the sub-segment i.e. Manual will boost the Fuel Transfer Pump market. Considering Market by Material, the sub-segment i.e. Stainless Steel will boost the Fuel Transfer Pump market.
Latest Market Insights:
On Dec. 22, 2020 - LG Electronics (“LG”) and Magna International Inc. (“Magna”) announced a joint venture (JV) to manufacture e-motors, inverters and on board chargers and, for certain automakers, related e-drive systems to support the growing global shift toward vehicle electrification. and On Sept. 03, 2020 - Magna has signed an agreement to acquire majority ownership of Honglizhixin (HLZX), a leading seat supplier to Chinese automakers. The acquisition will expand Magna’s seating capabilities across China.
Below are the requirements for the storage of flammable and combustible liquids such as gasoline or diesel as outlined by OSHA. Here is a summary of the laws in place for storing fuel in containers or a fuel tank on construction sites., Only approved containers and portable tanks can be used to store flammable liquids., This means safety cans or containers need to be approved by the Department of Transportation (DOT)., For safety reasons, only approved closed containers of a maximum capacity of five gallons can be used., The containers must be designed so that they will safely relieve internal pressure when subjected to fire exposure. and Other safety features the containers must have are a flash-arresting screen, spring-closing lid, and spout cover.
What Can be Explored with the Fuel Transfer Pump Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Fuel Transfer Pump Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Fuel Transfer Pump
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Fuel Transfer Pump market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Fuel Transfer Pump market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Fuel transfer pump Manufacturers, New Entrants/Investors, Analysts and Strategic Business Planners and Providers, Raw Material Suppliers, Dealers, Suppliers, Traders, and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End Use Industry.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.