Automotive Fuel Tank Market

The automotive fuel tank is a part of an engine system of an automotive which is used for storing the fuel or releasing the automotive fuel in the engine. The automotive fuel tank comes in a wide range of sizes and complexity and is used for secured filling, detecting fuel level, and to prevent the fuel leakages. The tank capacity and fuel efficiency are analyzed by the maximum distance covered by the automotive in a filled tank. The fuel tank of automobiles is generally made up of plastic and metal, which can be steel or aluminium.

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The major factors driving the growth of the global automotive fuel tank market include the increase in the production volume of the vehicles owing to the rising demand of the vehicles among the customers across several regions. In addition to this, the increasing number of innovations and research & development activities such as the production of plastic fuel tanks, along with the growing awareness regarding the exceptional features of the fuel tank such as corrosion resistance, self-sealing, durability, and the ability to endure harsh climatic conditions are some other key reasons fuelling the growth of the global automotive fuel tank market during the forecast period.

The increasing industrialization, economic growth, rise in the disposable and per capita income, followed by the increasing middle-class population, is also leading to an increase in the sales of automobiles, especially passenger cars, across the developing economies. The combination of these factors is thriving in various growth opportunities for the autonomous fuel tank in the market. Several government regulations for the development of light-weight components and vehicles having enhanced fuel efficiency and reduced consumption of fuel are also proliferating the growth of the global autonomous fuel tank in the market worldwide. The factors that are restraining the growth of the global automotive fuel tank market include the rising government initiatives and efforts for encouraging the adoption of electric vehicles as a result of the rising environmental concerns.

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Based on the material, the Plastic segment is anticipated to grow at a higher CAGR over the forecast period owing to the rise in the usage and production of the automotive fuel tanks with plastics as this material reduces the overall weight of the vehicle and helps to increase the strength of the tank at the time of crashes. In addition to this, it decreases the probability of the electric charges igniting fuel as it does not conduct electricity and provides the flexibility in design that enables customizations. All these factors are surging the demand for plastic, thus driving the growth of the segment.

Based on the capacity, the 45-70 litres segment is expected to increase at a higher compound annual growth rate during the forecast period due to the strong presence of this type of fuel tanks in various passenger vehicles which is leading to an increase in the adoption of fuel tanks with 45-70 L capacity. Furthermore, the growth in the demand and production of the sports-utility vehicles, mini SUVs, and sedans are some other factors driving the market growth of this segment.

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Based on the region, the Asia-Pacific is anticipated to increase at a higher compound annual growth rate during the forecast period owing to the rising adoption of the automotive fuel tank as a result of an increase in the demand for the vehicles from various countries like China, India among others. Moreover, rapid industrialization, urbanization, along with an increase in the disposable income and growth in the middle-class population is accelerating the demand and production of the automotive. Thus, all these factors are fuelling the growth of the automotive fuel tank market in this region.

Various notable players operating in the market include Textron Inc., The Plastic Omnium Group, TI Fluid Systems, YAPP.INC, Unipres Corporation, Yachiyo, Magna International Inc., SMA Serbatoi S.p.A., FTS, and SRD Holdings Ltd., among others.

Key Developments:

• • In 2019, The Plastic Omnium Group got an order to develop 350-bar hydrogen tanks to equip the busses by a German manufacturer. The company also planned to install a dedicated line of production of hydrogen tanks at the Herental plant in Belgium, which is responsible for developing fuel tanks in 2020.
  • In 2019, TI Fluid Systems announced that the company would supply the blow-moulded plastic fuel tanks for the luxury electric vehicle program of Karma Automotive. This plastic fuel technology is anticipated to enable the next-generation luxury electric vehicles to perform at enhanced levels.

The global automotive fuel tank market has been segmented on the basis of the material, capacity, propulsion, and region. Based on the material, the market is segmented into steel, plastic, and aluminum. Based on the capacity, the market is segmented into <45 litres, 45–70 litres, and >70 litres. Based on the propulsion, the market is segmented into the natural gas vehicle (NGV), ICE, hybrid, and hydrogen.

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Key questions answered in this research report:

• • At what pace is the global automotive fuel tank market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the global automotive fuel tank market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global automotive fuel tank market?
  • Which material generated maximum revenues in 2019 and identify the most promising material during the forecast period?
  • What are the various types of propulsion of the automotive fuel tank, and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Automotive Fuel Tank Market by Material

• • Steel
  • Plastic
  • Aluminum

Global Automotive Fuel Tank Market by Capacity

• • <45 Litres
  • 45-70 Litres
  • >70 Litres

Global Automotive Fuel Tank Market by Propulsion

• • Natural Gas Vehicle (NGV)
  • ICE
  • Hybrid
  • Hydrogen

Global Automotive Fuel Tank Market by Region

• • North America Automotive Fuel Tank Market (Option 1: As a part of the free 25% customization)
    • North America Automotive Fuel Tank Market by Material
    • North America Automotive Fuel Tank Market by Capacity
    • North America Automotive Fuel Tank Market by Propulsion
    • US Automotive Fuel Tank Market All-Up
    • Canada Automotive Fuel Tank Market All-Up
  • Europe Automotive Fuel Tank Market (Option 2: As a part of the free 25% Customization)
    • Europe Automotive Fuel Tank Market by Material
    • Europe Automotive Fuel Tank Market by Capacity
    • Europe Automotive Fuel Tank Market by Propulsion
    • UK Automotive Fuel Tank Market All-Up
    • Germany Automotive Fuel Tank Market All-Up
    • France Automotive Fuel Tank Market All-Up
    • Spain Automotive Fuel Tank Market All-Up
    • Rest of Europe Automotive Fuel Tank Market All-Up
  • Asia-Pacific Automotive Fuel Tank Market (Option 3: As a part of the free 25% Customization)
    • Asia-Pacific Automotive Fuel Tank Market by Material
    • Asia-Pacific Automotive Fuel Tank Market by Capacity
    • Asia-Pacific Automotive Fuel Tank Market by Propulsion
    • China Automotive Fuel Tank Market All-Up
    • India Automotive Fuel Tank Market All-Up
    • Japan Automotive Fuel Tank Market All-Up
    • Rest of APAC Automotive Fuel Tank Market All-Up
  • RoW Automotive Fuel Tank Market (Option 4: As a part of the free 25% Customization)
    • RoW Automotive Fuel Tank Market by Material
    • RoW Automotive Fuel Tank Market by Capacity
    • RoW Automotive Fuel Tank Market by Propulsion
    • Brazil Automotive Fuel Tank Market All-Up
    • South Africa Automotive Fuel Tank Market All-Up
    • Saudi Arabia Automotive Fuel Tank Market All-Up
    • UAE Automotive Fuel Tank Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Automotive Fuel Tank Market All-Up

Global Automotive Fuel Tank Leading Market Players (Option 5: As a part of the free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Textron Inc.
  • The Plastic Omnium Group
  • TI Fluid Systems
  • INC
  • Unipres Corporation
  • Yachiyo
  • Magna International Inc.
  • SMA Serbatoi S.p.A.
  • FTS
  • SRD Holdings Ltd.