Emphasis on Product (AC Fuel Transfer Pumps, DC Fuel Transfer Pumps, and Hand Fuel Transfer Pumps); Motor (12V DC, 24V DC, 115V DC, 230V DC, and Others); Application (Construction, Transportation, Agriculture, Chemical, Mining, Food & Beverage, and Others); Mounting (Fixed and Portable); and Region/Country
Global Fuel Transfer Pumps Market is expected to grow at a significant rate of around 6% during the forecast period. Fuel transfer pumps are designated to carry various types of liquid fuel from one unit to another Through a network of pipes, lines, and tubing. It is ideal to transfer fluids like gasoline, diesel, motor oil, and kerosene from storage drums or tanks to vehicles, construction machinery, aircraft, and other mobility vehicles/machines. Additionally, fuel transfer pumps are frequently utilized to distribute fuel at high pressure. Fuel transfer pumps have recently been in high demand because of rapid industrialization and construction booms as well as rising demand from a variety of sectors, including water and wastewater treatment, mining, agriculture, aerospace, and chemicals.
Graco Inc, Tuthill Transfer System, Great Plains Industries Inc., INTRADIN, Johnson Electric, Delphi Automotive Plc., Continental Ag, Denso Corporation, Mach Power Point Pumps India Pvt. Ltd., and Magna International Inc. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst motor, 12V DC category to witness significant market growth during the forecast period”
Based on the motor, the market is segmented into 12V DC, 24V DC, 115V DC, 230V DC, and others. Due to the rising use of the light pumping option for fuels including diesel fuel, kerosene, biodiesel, and others, the 12V DC segment is anticipated to have significant demand during the projection period. Additionally, the 12V DC section is lightweight, portable, and suitable for use in isolated areas as well as for mobile refueling and is expected to support the market growth in the coming time. Also, the faster response time to start, stop and accelerate and longer durability, leak-free design, and fast installation along with the high startup power & torque provides added advantages to the 12 VDC segment and are expected to propel the demand.
“Amongst application, the transportation segment to hold a significant CAGR in the market in 2020”
Based on the application, the market is segmented into construction, transportation, agriculture, chemical, mining, food & beverage, and others. The transportation segment is expected to witness a significant CAGR during the forecast period owing to the diversified transportation mode such as marine, air, road, and rail transport coupled with the increasing demand for fuel-based vehicles. Additionally, the increasing demand for different types of liquid fuels such as kerosene, HSD, gasoline, and lubricating oil among others from the automotive vehicle industries is expected to propel the demand during the forecast period.
“Asia-Pacific to hold a significant share in the market”
In 2020, Asia-Pacific held a significant share of the global fuel transfer pumps market. This is mainly attributed to the rapid industrialization and growing automotive industries coupled with the advancement in the manufacturing industries. Also, the increasing demand for chemicals and expansion in the chemical industry along with technological advancement is expected to support the market growth. Additionally, the expansion of development projects, rising disposable income, and increased investment in the continent are anticipated to boost market expansion. Furthermore, the launch of new products, increasing research & development activities as well as collaboration and merger & acquisition among the leading players will propel the growth during the forecast period. For instance, Shanghai SUOTO Pump Industrial Co., Ltd. offers a wide range of fuel transfer pumps for a variety of applications including KCB 2CY electric oil pumps, KCB gear oil pumps, SB drum oil pumps, and LQRY hot oil pumps among others.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Impact Of Covid-19 On The Fuel Transfer Pumps Market
6. Fuel Transfer Pumps Market Revenue (usd Bn), 2020-2028f
7. Market Insights By Product
8. Market Insights By Motor
9. Market Insights By Mounting
10. Market Insights By Applicaton
11. Market Insights By Region
12. Fuel Transfer Pumps Market Dynamics
13. Fuel Transfer Pumps Market Opportunities
14. Fuel Transfer Pumps Market Trends
15. Demand And Supply-side Analysis
16. Value Chain Analysis
17. Competitive Scenario
18. Company Profiled
19. Disclaimer
Research Methodology for the Fuel Transfer Pumps Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global fuel transfer pumps market were the three major steps undertaken to create and analyze the adoption of fuel transfer pumps in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Fuel Transfer Pumps market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the fuel transfer pumps market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the fuel transfer pumps market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product, motor, mounting, and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the fuel transfer pumps market. Further, we conducted factor analysis using dependent and independent variables such as product, motor, mounting, and applications of fuel transfer pumps. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the fuel transfer pumps market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global fuel transfer pumps market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global fuel transfer pumps market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product, motor, mounting, and application in the global fuel transfer pumps market.
The main objective of the Global Fuel Transfer Pumps Market Study
The current & future market trends of the global fuel transfer pumps market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
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