The global demand for Automotive Fuel Tank Market is presumed to reach the market size of nearly USD 26.44 MN by 2028 from USD 17.6 MN in 2021 with a CAGR of 6.1% under the study period of 2022 - 2028. Regarding volume, the market was calculated XX Units in 2021 and forecast to touch XX Units by 2028 with a CAGR of XX% during 2022-2028.
Automotive fuel tanks are containers for combustible substances. The energy released during fuel burning in the fuel tank is propelled into the engine, which drives the vehicle. Automotive fuel tanks are made out of plastic, aluminium, or steel. They are corrosion-free, heat resistant, recyclable, less bulky, and long-lasting, and they can bear weight, internal and exterior erosion. The capacity, design, and size of the fuel tanks vary, and they aim to prevent fuel leaks and restrict evaporation emission. The most typical applications for fuel tanks are fuel storage, fuel level detection, venting, and protected filling. An automotive fuel tank has a volume of 40–70 gallons on average. Modern automobiles frequently include the remote opening of the fuel tank fuel filler flap through an electric motor or wire release.
Market Dynamics
The automobile industry has observed a sustained increase in car production and sales in recent years. The rise in car production can be ascribed to the rising population, improved socioeconomic conditions, economic expansion, and infrastructure development. Growth in middle-class discretionary income, particularly in developing countries, has also led to increased car manufacturing and demand. As a result of the inclination for individual mobility and two-wheelers being a cost-effective means of transportation, the need for two-wheelers is expanding. Hence, the global automotive fuel tank market is projected to grow due to the growing automobile industry and vehicle productions. Furthermore, the increased demand for environmentally friendly fuel tanks is pushing the market forward. Additionally, the increasing improvement of materials like HDPE plastic fuel tanks and carbon fibre composites to reduce vehicle weight will likely augment the market growth. However, the development of electric car production is projected to stifle automotive fuel tanks market growth.
The report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of automotive fuel tank. The growth and trends of Automotive Fuel Tank Industry provide a holistic approach to this study.
Market Segmentation
This section of the automotive fuel tank market report provides detailed data on the segments by analyzing them at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Capacity
- Up To 45 Liters
- 45-70 Liters
- Above 70 Liters
By Material
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Automotive Fuel Tank market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Automotive Fuel Tank Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the automotive fuel tank market include FTS Co. Ltd., Kautex Textron Gmbh & Co. KG., Magna International Inc., Martinrea International Inc., SMA Serbatoi S.P.A., The Plastic Omnium Group, TI Automotive Inc., Unipres Corporation, Yachiyo Industry Co. Ltd., YAPP Automotive Parts Co. Ltd. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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