Automotive Fuel Tank Market Report Information, segmented By Material (Plastic, Steel & Aluminum), Capacity (<45L, 45L-70L & >70L), Vehicle Type (Passenger Car, and Commercial Vehicle), and region (North America, Europe, Asia Pacific, and ROW) | Forecast 2027

ID: VPR/A&T/1179 Publishing Year: January 2022 Pages: 117 Format:   


Automotive Fuel Tank Market Overview:

A Fuel Tank is a container that is used to store ignitable fluids. The vehicle fuel tank is a component of the engine system that stores fuel before delivering it to the engine. The Fuel Tanks come in a variety of capacities, designs, and sizes, and their purpose is to prevent fuel leaks and reduce evaporation emissions. The most typical applications for gasoline tanks are storage, fuel level detection, venting, and protected filling. The gasoline tank capacity is critical in determining the vehicle's maximum range of travel and Fuel Efficiency.

A Fuel Tank is a secure place to store combustible liquids. The tank is usually attached to an engine component. An automobile gasoline tank has a capacity of 40-70 litres on average. Atankis were used to store motor fuels such as gasoline, diesel fuel, and natural gas. Fuel tanks today can be composed of a variety of modern materials, including ferroalloys, aluminium alloys, and polymers. Stamping Sheet metal and welding of top and lower pieces are used to make steel gasoline tanks.

Key Players:

The key players in Automotive Fuel Tank Market are Plastic Omnium Group (France), Kautex Textron GmbH & Co. KG. (Germany), YAPP Automotive Parts Co. Ltd. (China), TI Automotive Inc. (U.K.), Magna International (Canada), Unipres Corporation (Japan), Continental (Germany), Lyondell Basell (Netherlands), Yachiyo (Japan), Allgaier Automotive (Germany), Boyd Welding (Florida), Dali and Samir Engineering (India), Martinrea International (Canada), Posco co. Ltd (South Korea), Baosteel group corporation (China).

Market Growth:

The increasing demand for vehicle production, as a result of increased consumer demand, is a primary element contributing to the market's growth. In addition, the increased demand for environmentally friendly gasoline tanks is moving the industry forward. Furthermore, the progress of materials in response to the need to lower vehicle weight has resulted in a good view for market growth. Market participants in the automobile Fuel Tank Market are pouring money into research and development, which should spur the development of new technologies. Consumer demand for sophisticated plastic and metal fuels is expected to rise as a result, boosting the growth of the Automotive Fuel Tank Market throughout the forecast period.

Globally, rising industrialization and the construction of road infrastructure contribute to the growth of the vehicle sector, which in turn drives up demand for Automotive Fuel Tanks and propels the market forward. Furthermore, rising concerns about fuel emissions and the growing popularity of lightweight automobiles are propelling the Automotive Fuel Tank Market forward. Furthermore, governments all over the world are enacting legislation stressing emission control and increased fuel efficiency, boosting the industry by increasing the manufacturing of high-quality fuel tanks. The development of electric car manufacture, on the other hand, is likely to stifle market growth.

Market Segmentation:

Tank capacity, material type, weight, fuel type, propulsion type, sales channel, and vehicle type are all used to segment the Fuel Tank Market. The growth of segments allows you to analyse specific pockets of growth and market approaches, as well as establish your main application areas and target market differences.

The Fuel Tank Market has been divided into three categories based on tank capacity: less than 45 litres, 45 litres to 70 litres, and more than 70 litres. Because of the growing demand for passenger vehicles, the less than 45 l sector will account for the largest market in 2020.

The Fuel Tank Market has been divided into plastic, aluminium, steel, and others based on material type. Due to car manufacturers' rising concern about weight reduction, the plastic sector will account for the greatest market share in 2020.

The Fuel Tank Market has been divided into three categories based on weight: less than 7kg, 7kg to 10kg, and more than 70kg. The rising demand for light-weight automobiles has increased the demand for fuel tanks weighing less than 7 kg in the region by 2020.

The Fuel Tank Market has been divided into four categories based on propulsion type: natural gas, hydrogen, internal combustion engine (ICE), and hybrid. In 2020, the region's demand for internal combustion engines (ICE) will rise due to increased passenger vehicle production.

Regional Analysis:

The market is divided into four regions: North America, Asia Pacific, Europe, and the Rest of the World. During the projected period, Asia Pacific is expected to lead the market because OEMs in emerging economies are concentrating on the manufacturing of lightweight components that would improve vehicle efficiency. To minimise the total weight of the vehicle, many manufacturers use aluminium in the fabrication of gasoline tanks. The market will develop due to an increase in demand for lightweight fuel tanks in emerging economies. Because customers are becoming increasingly concerned about their safety, North America is likely to be the second largest market. People are more likely to purchase vehicles that have enhanced safety features. The market will expand in response to the increased need for enhanced safety technology. Due to a rise in commercial vehicle production, Europe is predicted to be the third largest market. During the projection period, Germany is expected to lead the European market.

Covid-19 Impact:

The global COVID-19 pandemic has wreaked havoc on economies around the world, with many industries feeling the effects, but the automotive industry has been hit particularly hard. In many locations, the challenges that have arisen as a result of the worldwide lockdown are vast and intractable. Lockdowns have caused several supply chain disruptions in the automotive industry. The market is likely to recover and grow positively during the forecast period as the situation returns to normal.

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