Increasing Vehicle Production drives Fuel Tank Market

Author: Rechal Dey

According to the market research report Fuel Tank Market by Material (Plastic, Steel & Aluminum), Capacity (70L), & by Region (Asia-Oceania, Europe, North America & ROW), Automotive CNG Tank Market by Region, and Automotive SCR Market by Region - Global Trends & Forecast to 2021, published by MarketsandMarkets™, Additionally, developed regions such as Europe and North America have introduced stringent evaporative emission norms, which have accelerated the demand for plastic fuel tanks in these regions. The base year considered for the study is 2015, and the forecast has been provided for the period between 2016 and 2021. The overall fuel tank market is expected to grow from USD 13.2 billion in 2017 to USD 17.38 billion by 2021, at a CAGR of 5.58% from 2016 to 2021.

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High-density polyethylene (HDPE) is the key component of the plastic fuel tank. The global demand for HDPE is very high, owing to the considerable demand for plastic fuel tanks. The primary advantages of the plastic fuel tank are that it is anti-corrosive, lightweight, flexible, and impact-resistant. HDPE market is estimated to be the largest owing to their high penetration in developed regions such as North America and Europe. The changing preferences of buyers and the increasing technology adoption rate in Asia-Oceania have accelerated the demand for HDPE fuel tanks in the region.

Browse and in-depth TOC on "fuel Tank Market"

84 - Tables

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161 – Pages

The bottom-up approach has been used to estimate the market size, in terms of volume. This country-wise market volume is then multiplied with the country-wise average OE price of fuel tanks of each material type in every country considered in the region. This results in the country-wise market size, in terms of value. The summation of the country-wise market size, in terms of value, gives the regional market size, and further summation of the regional-level market size provides the global automotive fuel tank market size. The figure below illustrates the break-up of the profile of industry experts who participated in primary discussions.

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Target Audience of Fuel Tank Market
  • Manufacturers of automotive fuel tanks
  • Raw material suppliers for automotive fuel tank manufacturers
  • Traders, distributors, and suppliers of automotive fuel tanks
  • Research institutes and government organizations
  • The automobile industry as an end-use industry and regional automobile associations

Available Customizations of Fuel Tank Market

Based on the given market data, MarketsandMarkets offers customizations in the reports as per the client’s specific requirements. The available customization options are as follows:

  • HDPE fuel tank market, by vehicle type (passenger cars and commercial vehicles)
  • Steel fuel tank market, by vehicle type (passenger cars and commercial vehicles)
  • Additional company profiles (business overview, recent financials, SWOT analysis, recent developments, and MnM view)

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The global market is dominated by established players such as The Plastic Omnium Group (France), Kautex Textron GmbH & Co. KG (Germany), YAPP Automotive Parts Co. Ltd. (China), and TI Automotive Inc. (U.K.). These companies have been focusing on developing new products and forming partnerships and collaborations with key organizations to expand their presence in the global automotive fuel tank market.

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