Automotive Fuel Tank Market Growth, Demand, Forecast 2023-2028

The latest report by IMARC Group, titled “Automotive Fuel Tank Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,”  offers a comprehensive analysis of the industry, which comprises insights on the Automotive Fuel Tank Market Growth. The report also includes competitor and regional analysis, and contemporary advancements in the market. 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. A fuel tank refers to a part in automobiles that is used to store automotive fuel. Some of the essential components of automotive fuel tanks are filters, pumps, lines, fuel gauge, tanks and pumps. Most vehicles are installed with a single tank in the rear; however, the location and design of the fuel tank depend on the space available in the automobile. Modern tanks are more complex and are made up of fluoroelastomer and emissions control components, which include diaphragms, couplings, vibration isolators, hose, O-rings and other seals.

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Industry Trends:

A significant increase in the sales of passenger and commercial vehicles has provided a boost to the demand for automotive fuel tanks. Besides this, due to the rising environmental concerns, the sales of electric cars have escalated, which help in reducing carbon emissions generated by traditional vehicles. This trend has led to the development of high-quality plastic fuel tanks in hybrid electric vehicles, which help in reducing the overall weight of the automobile so that it can travel for longer distances. Besides this, advancements in technology have led to the manufacturing of self-sealing fuel tanks that can automatically seal in case of damage or leak. Moreover, the leading manufacturers are investing in research and development (R&D) to design a multi-layered high-density polyethylene fuel tank using blow molding technology. This process is environment-friendly and meets the highest federal government requirements, ensuring safety and efficiency. Furthermore, the installation of steel-based tanks in various premium-category vehicles, which in turn will further drive the growth of the market.

Competitive Landscape with Key Players:

• Plastic Omnium
• Kautex Textron GmBH & Co. KG
• Yapp USA Automotive Systems, Inc.
• TI Fluid Systems plc,
• Yachiyo Industries Co. Limited
• Magna International Inc.
• Martinrea International Inc.
• Unipres Corporation
• Continental AG
• Lyondell Basell Industries N.V.
• Allgaier WERKE GmbH
• Boyd Welding LLC
• Dali and Samir Engineering Pvt. Ltd.
• POSCO Co., Ltd
• Baosteel Group Corporation

Breakup by Material Type:

• Aluminium
• Steel

Breakup by Capacity:

• Less than 45 liters
• 45-70 liters
• Above 70 liters

Breakup by Vehicle Type:

• Passenger Vehicles
• Light Commercial Vehicles (LCVs)
• Heavy Commercial Vehicles (HCVs)

Breakup by Distribution Channel:

• OEM
• Aftermarket

Breakup by Region:

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

Key Highlights of the Report:

• Market Performance 
• Market Outlook 
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.