What is Automotive Fuel Tanks Market?
Automotive fuel tanks refer to fuel tanks which is a safe container for flammable fluids. Various types of material is used for manufacturing automotive fuel tanks such as plastic, steel and aluminum. Various materials are used for manufacturing products such as plastic, steel, aluminum and others. Increasing demand for lightweight components to fuel the demand for plastic fuel tanks and rising demand for lightweight components are projected to drive the global automotive fuel tanks market over the forecast period.
Highlights from Automotive Fuel Tanks Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | The Plastic Omnium Group (France), Kautex Textron GmbH & Co. KG (Germany), YAPP Automotive Parts Co. Ltd. (China), TI Automotive Inc. (United Kingdom), Yachiyo Industries Co. Ltd. (Japan), FTS Co. Ltd. (Japan), Hebei Iron and Steel Group (China), Baosteel Group Corporation (China) and Posco Co. Ltd. (South Korea) |
Research Analyst at AMA predicts that China Vendors will contribute to the maximum growth of Global Automotive Fuel Tanks market throughout the forecasted period.
The Plastic Omnium Group (France), Kautex Textron GmbH & Co. KG (Germany), YAPP Automotive Parts Co. Ltd. (China), TI Automotive Inc. (United Kingdom), Yachiyo Industries Co. Ltd. (Japan), FTS Co. Ltd. (Japan), Hebei Iron and Steel Group (China), Baosteel Group Corporation (China) and Posco Co. Ltd. (South Korea) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Tata Steel Ltd. (India), General Motors (United States), BMW (Germany), Toyota Motors (Japan) and Hyundai Motors (South Korea). Automotive Fuel Tanks Market Segmentation:
Scope | Sub-Segments |
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Distribution Channel | OEM,Aftermarket |
Capacity | <45L,45L-70L,>70L |
Vehicle Type | Passenger Cars,Commercial Vehicles {LCVs, HCVs} |
Material | Steel,Aluminum,Others |
On the basis of geography, the market of Automotive Fuel Tanks has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technology Advancement in Automotive Fuel Tanks
Market Growth Drivers:
Increasing Vehicle Production across the world and Rising Demand for Lightweight Components to Fuel the Demand for Plastic Fuel Tanks
Challenges:
Recycling of the Plastic Fuel Tanks as well as High cost of plastic fuel tanks
Restraints:
Issue related to Increasing Demand for Electric vehicles
Opportunities:
Growing Demand of Vehicles from Emerging Market such as China, India, Brazil, among others
Key Target Audience
Manufacturers of Automotive Fuel Tanks, Suppliers of Automotive Fuel Tanks, Wholesalers, Distributors, and Retailers of Automotive Fuel Tanks, Research and Development (R&D) Companies, Research Organization, Federal Agencies and Others
Market Leaders & Development Strategies
In May 2016, the Magna International Inc. (Canada) Company has announced the expansion of its aluminum casting facility in Telford (United Kingdom), which help to supply automotive parts to Jaguar Land Rover models. Hence, this expansion will help the company increase its market presence in Canada.
In September 2015, the Plastic Omnium Group (France) Company has launched a new range of fuel tanks which is Tanktronic. In addition, these fuel tanks are a fully mechatronic solution. Therefore, this launched will increase the product portfolio of the company.