Global Automotive Fuel Tank Market Report 2022: An $18.5 Billion Industry – Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027 – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Automotive Fuel Tank Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
The global automotive fuel tank market reached a value of US$ 18.5 Billion in 2021. Looking forward, the market is set to reach US$ 23.4 Billion by 2027, exhibiting a CAGR of 3.8% during 2022-2027.
Keeping in mind the uncertainties of COVID-19, they are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
An automotive fuel tank is a component of an automobile engine system that is used to store, propel and release pressurized gas or fluid into the engine. It is also used for fuel level detection, secured filling, venting, evaporating emissions and avoiding fuel leakages.
The effectiveness of a fuel tank depends upon its size, complexity and the material used for the manufacturing process. Fuel tanks are made using both metal and plastic materials. Plastic tanks are primarily used in sedans, multi-purpose vehicle (MPV) and sports-utility vehicles (SUV), and metal tanks are used in commercial and cross-passenger vehicles.
Growing industrialization along with a significant increase in the manufacturing and sales of automobiles is a key factor driving the market growth. The automotive sector in both developed and emerging countries is witnessing an expansion, supported by the increasing demand for passenger cars.
Furthermore, governments across the globe are implementing regulations emphasizing on emission control and improved fuel economy, thus intensifying the production of high-quality fuel tanks. Additionally, technological advancements such as the production of self-sealing fuel tanks that can automatically seal in case of damage or leak are also catalyzing the market growth.
In addition to this, manufacturers are increasingly incorporating plastic instead of the conventionally used steel and metals with the aim to make lightweight fuel tanks. Other factors such as rising disposable incomes and improving living standards are also driving the market.
Key Question Answered in this Report
- What was the size of the global automotive fuel tank market in 2021?
- What is the expected growth rate of the global automotive fuel tank market during 2022-2027?
- What are the key factors driving the global automotive fuel tank market?
- What has been the impact of COVID-19 on the global automotive fuel tank market?
- What is the breakup of the global automotive fuel tank market based on the material type?
- What is the breakup of the global automotive fuel tank market based on the capacity?
- What is the breakup of the global automotive fuel tank market based on the vehicle type?
- What is the breakup of the global automotive fuel tank market based on the distribution channel?
- What are the key regions in the global automotive fuel tank market?
- Who are the key players/companies in the global automotive fuel tank market?
Competitive Landscape
The report has also analyzed the competitive landscape of the market with some of the key players being:
- Plastic Omnium
- Kautex Textron
- Yapp Automotive
- TI Automotive
- Yachiyo Industries Co. Limited
- Magna International
- Martinrea International Inc.
- Unipres Corporation
- Continental
- Lyondell Basell
- Allgaier Automotive
- Boyd Welding
- Dali
- Samir Engineering
- Posco co. Ltd
- Baosteel group corporation
Key Market Segmentation
Breakup by Material Type:
- Plastic
- Aluminum
- Steel
Breakup by Capacity:
- Less Than 45 Liter
- 45 – 70 Liter
-
Above 70 Liter
Breakup by Vehicle Type:
- Passenger Vehicles
- LCVs
- HCVs
Breakup by Distribution Channel:
- OEM
- Aftermarket
Breakup by Region:
- Asia Pacific
- North America
- Europe
- Middle East and Africa
- Latin America
For more information about this report visit https://www.researchandmarkets.com/r/ouc5lx.
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