Automotive Fuel Tank Market Highlights:
The global automotive fuel tank market is growing with the rapid pace. According to a recent study report published by the Market Research Future, The global market of automotive fuel tank market will grow at a rapid pace over the forecast period. The market is forecasted to witness slow but steady growth by 2024, which will be a surplus growth at a moderate CAGR during the projected period (2018 -2024).
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Key players in Automotive Fuel Tank market mentioned:
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 AG (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) and others are some of the prominent players profiled in the MRFR Analysis and are at the forefront of competition in the global automotive fuel tank market.
The fuel tank is used to store the highly inflammable fuel in the automobile. The size of the fuel tank varies depending on the type of automobile, the engine requirement, the air fuel mixture normally used, the purpose for which the vehicle is built. The fuel tank can be built in varying range or in different sizes. The tank can be manufactured in form a small plastic tank to a multi-chambered multi layered tank which has thousands of gallons of fuel capacity. The major use of the fuel tank is involved in the filling of fuel, storage, venting and feeding the engine of the fuel and air mixture. The size and capacity of the fuel tank normally determines and decides the efficiency and effectiveness of the vehicle. A larger fuel tank will automatically increase the travel distance that the vehicle can undertake, but occupies more space comparatively increasing the overall weight of the automobile.
Industry/ Innovation/ Related News:
March, 2018 – Magna International Inc. announced that it would initiate joint operations to develop a next-gen EV design and architecture with the famed Beijing Automotive Industry Holding Co., Ltd. (belonging to the BAIC Group) for the ever increasing Chinese automobile market. The deal was sealed on Apr 8 in Beijing.
July, 2017 – A leading expert in vehicle systems and the digitalization of mobility, technology company Continental announced the closing of its acquisition of Singapore based mobility intelligence provider Quantum Inventions. Quantum Inventions will add to Continental’s growing intelligent transportation systems portfolio with its city data including next generation navigation systems that are highly responsive to real-time information such as traffic data, road incident information and dynamic road pricing.
Automotive Fuel Tank Market Segmentation:
- Segmentation by Material: Comprises of Plastic, Steel & Aluminium.
- Segmentation by Capacity: Comprises of <45L, 45L-70L & >70L.
- Segmentation by Vehicle Type: Comprises of Passenger Car, and Commercial Vehicle.
- Segmentation by Regions Comprises Geographical Regions – North America, Europe, Asia Pacific and Rest of the World.
Automotive Fuel Tank Market Regional Analysis:
The automotive fuel tank market is seeing an explosive growth across all countries. The Asia Pacific region is expected to lead the global demand for the fuel tanks. This region has seen exponential growth in the automotive sales in the last couple of decades. Due to industrialisation, a large number of MNCs are setting base in this region. Due to increase in the average income, the population of the middle class is on a rise in this region. The purchase power, awareness about the automotive safety standards and number of options in front of the people in this region all have gone up. Due to affordable and small segment cars being sold in huge numbers, the vehicular traffic is a huge problem here. The number of accidents and related injuries or fatalities all have gone up in the last decade. In such a situation, the automakers and the customers are stressing more on driver and pedestrian safety. In this context huge research is being done to make transport by the modern automobiles safer. The weight of the automobile and the related huge inertia created in case of high speeding vehicle is one of the biggest reasons for fatalities in the road accidents. The automakers hence are trying to decrease the weight of the fuel tank by trying to use lighter, stronger and more corrosion resistant materials like aluminium instead of mild steel or iron. In case of North America, this is the largest market for automobiles in terms of volume. The customers in this region are more interested in the vehicle safety and growing concern about safety features amongst the customers. The Europe region is known for manufacturing high end and high performance cars for the better part of the last decade. The main aspect which decides the life of the automobile engine is the quality of air fuel mixture which is injected into the engine. In case the fuel tank is manufactured from substandard material or manufacturing process, the resultant air fuel mixture will lead to considerable corrosion in the engine thus decreasing the engine life. Thus, the automotive fuel tank market will consistently increase in the future.
Major Table of Content:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
The report for Global Automotive Fuel Tank Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
Browse more details about “Automotive Fuel Tank Market Research Report – Forecast to 2024” at: https://www.marketresearchfuture.com/reports/automotive-fuel-tank-market-5568
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