Global Automotive Fuel Tank Market by Material and by capacity

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The GMI Research speculates that the Automotive Fuel Tank Market will undergo an extension in demand over the forecast period. This is because of the robust existence of fuel tanks in various passenger vehicles and the augmentation in demand and manufacturing of sedans and mini SUVs.

Introduction of the Automotive Fuel Tank Market 

The automotive fuel tank is a component of a mechanized engine system used to store the fuel or discharge the automotive fuel in the engine. The tank comes in different variety of sizes and complications required for safe filling, identifying fuel levels, and avoiding fuel leakages. The potential of the tank and fuel effectiveness are interpreted by the highest distance covered by the automotive in a filled tank.  

Key Players of Market:

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

Automotive Fuel Tank Market Dynamics

The aggravating production volume of vehicles because of the escalating demand of vehicles among consumers across different regions has ameliorated the growth of the global automotive fuel tank market. Also, the accelerating number of innovations and increasing research and development activities such as the launch of plastic fuel tanks, and the mounting consciousness concerned with the remarkable properties such as resilience towards corrosion, strength, potential to tolerate acute climatic conditions, and self-healing are further strengthening the Automotive Fuel Tank Market Size

Besides this, the rapid industrialization, continuous economic growth, accelerating per capita income as well as the mounting middle-class population are some factors impelling the supply of automobiles, primarily passenger cars, across the emerging nations. Thus, the combination of all these factors is energizing the market growth. Further, various government rules for the establishment of lighter components and vehicles with raised fuel effectiveness and less consumption of fuel are compounding the market growth. However, as per the Automotive Fuel Tank Market Report, the surging government efforts, and measures to promote the endorsement of electric vehicles because of the increasing agitation towards the environment are expected to hinder the market growth.

Material Segment Drivers

Based on the material, Plastic is anticipated to witness faster growth over the coming years. The growing utilization and production of mechanized fuel tanks with plastic material to decrease the inclusive weight of the vehicle and raise the strength of the tank during crashes are driving the market growth. In addition to this, the Automotive Fuel Tank Market Forecast presents that it helps to reduce the chances of the electric charges inflaming fuel as it does not carry electricity and offers elasticity in design, allowing personalization. All these factors are surging the market growth.

Geographical Drivers

As per the regional analysis, the Asia-Pacific is projected to capture a remarkable share over the coming years. This is because of the increasing acquisition of the automotive fuel tank because of the fuelling demand for the vehicles across various nations like India and China. Moreover, the increasing urbanization and industrialization and the escalation in disposable income with the growth in the middle-class population are exacerbating the market growth.

Automotive Fuel Tank Market Segmentation:

Segmentation by Material
  • Steel
  • Plastic
  • Aluminum
Segmentation by Capacity
  • <45 Litres
  • 45-70 Litres
  • >70 Litres
Segmentation by Propulsion
  • Natural Gas Vehicle (NGV)
  • ICE
  • Hybrid
  • Hydrogen
Segmentation by Region:
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • RoW
    • UAE 
    • Brazil
    • South Africa
    • Saudi Arabia

About GMI Research

The research and consulting organisation provides research reports and business penetration to various enterprises to help them make prudent business policies and attain viable growth in the specific market domain. Our cosmic team of analysts and experienced researchers proffer a comprehensive solution for the client. The research report provides a comprehensive analysis, including forecasts, view on competitive landscape, factors impacting the market growth, and other market acumen to support companies in making a judicious decision. 

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