Automotive Fuel Tank Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Automotive Fuel Tank Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A1388
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Market Overview:

The global automotive fuel tank market size reached US$ 19.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 23.7 Billion by 2028, exhibiting a growth rate (CAGR) of 3.4% during 2023-2028.

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.

Global Automotive Fuel Tank Market Report

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.

 

 
 

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Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global automotive fuel tank market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on material type, capacity, vehicle type and distribution channel.

Breakup by Material Type:

  • Plastic 
  • Aluminum
  • Steel

 

 
 

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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:

 

 
 

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  • Asia Pacific
  • North America
  • Europe
  • Middle East and Africa
  • Latin America
     

Competitive Landscape:

The report has also analysed 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 and Samir Engineering, Posco co. Ltd, Baosteel group corporation, etc.

IMARC Group’s latest report provides a deep insight into the global automotive fuel tank market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the global automotive fuel tank market in any manner.

Report Coverage:

Report Features Details
Base Year of the Analysis 2022
Historical Period 2017-2022
Forecast Period 2023-2028
Units US$ Billion
Segment Coverage Material Type, Capacity, Vehicle Type, Distribution Channel, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered 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 and Samir Engineering, Posco co. Ltd and Baosteel group corporation
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The global automotive fuel tank market was valued at US$ 19.2 Billion in 2022.

We expect the global automotive fuel tank market to exhibit a CAGR of 3.4% during 2023-2028.

The growing production of high-quality fuel tanks, owing to the rising focus on emission control and improved fuel economy by governments of numerous nations is primarily driving the global automotive fuel tank market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous manufacturing units for automotive fuel tank.

Based on the material type, the global automotive fuel tank market has been divided into plastic, aluminum, and steel, where plastic currently exhibits a clear dominance in the market.

Based on the capacity, the global automotive fuel tank market can be categorized into less than 45 liter, 45-70 liter, and above 70 liter. Currently, less than 45 liter holds the majority of the total market share.

Based on the vehicle type, the global automotive fuel tank market has been segmented into passenger vehicles, LCVs, and HCVs. Among these, passenger vehicles currently account for the largest market share.

 

Based on the distribution channel, the global automotive fuel tank market can be bifurcated into OEM and aftermarket. Currently, OEM holds the majority of the total market share.

On a regional level, the market has been classified into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America, where Asia Pacific currently dominates the global market.

 

Some of the major players in the global automotive fuel tank market include 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 and Samir Engineering, Posco co. Ltd, Baosteel group corporation, etc.

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Automotive Fuel Tank Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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