Global Automotive Fuel Tank Market Outlook, Opportunities And Strategies – Includes Automotive Fuel Tank Market Trends
Learn about the global automotive fuel tank market through The Business Research Company, which provides information on automotive fuel tank market size, automotive fuel tank market drivers and restraints, automotive fuel tank market players, the COVID-19 impact on the automotive fuel tank market, and more.
The global automotive fuel tank market size is expected to grow from $16.51 billion in 2021 to $17.32 billion in 2022 at a compound annual growth rate (CAGR) of 4.89%. The global automotive fuel tanks market size is expected to grow to $22.98 billion in 2026 at a CAGR of 7.33%.
The increasing demand for passenger cars has contributed to the automotive fuel tank growth.
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The automotive fuel tank market consists of sales of automotive fuel tanks by entities (manufacturers, sole traders, and partnerships) that are used to store, propel and release pressurized gas or fluid into automobile engine systems. This includes fuel tanks/pumps for cars, light commercial vehicles, and heavy commercial vehicles. The fuel that makes the car operate is stored in the vehicle’s gas tank. The fuel pump is what propels the fuel. The gas tank could be built of high-density polyethylene plastic, which can be moulded into complicated shapes, saves space, and improves crash safety. Steel or aluminium, welded from stamped sheets, can also be used for the gas tank. The type of material used to construct the gas tank is determined by the vehicle’s manufacture and model.
Global Automotive Fuel Tank Market Segments Include:
By Capacity: Less than 45 Liters, 45-70 Liters, Above 70 Liters
By Material Type: Aluminum, Plastic, Steel
By Vehicle Type: Passanger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific was the largest region in the automotive fuel tank market in 2021.
Technological advancements in fuel-efficient vehicles and alternate fuel vehicles is a key trend gaining popularity in the automotive fuel tank market. Modern automobiles require advanced materials to improve fuel economy while retaining safety and performance. Lightweight materials have a lot of potential for improving vehicle efficiency because it requires less energy to accelerate a lighter item than a heavy one. A 10% reduction in vehicle weight might result in a 6% to 8% increase in fuel economy.
Major Market Players: The Plastic Omnium Group, Yapp Automotive Parts Co. Ltd, TI Fluid Systems, Yachiyo Industries Co. Limited, Unipres Corporation, Magna International, Fuel Total Systems (FTS) Co. Ltd, Compagnie Plastic Omnium SA, Kautex Textron GmbH & Co. KG, Martinrea International Inc., Unipres Corporation, Textron – KautexV (US), Benteler International AG, Allgaier Werke GmbH, Dali and Samir Engineering, Westport Fuel Systems Inc., Posco co. Ltd, Allgaier Automotive, Baosteel group corporation, Kongsberg Automotive, Toyoda Gosei Co. Ltd., Visteon Corporation, Donghee Industrial CO. LTD., FUTABA INDUSTRIAL CO. LTD., Northside Industries, SMA SERBATOI SPA, Spectra Premium Inc., Allgaier Automotive, Boyd Welding.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)
The Automotive Fuel Tank Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides automotive fuel tank market overviews, analyzes and forecasts market size, share, automotive fuel tank market players, automotive fuel tank market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s automotive fuel tank market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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