Automotive Fuel Tank market key Company analyzed for this report:
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 (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).
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Automotive Fuel Tank Market Synopsis:
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.
The factors that are responsible for the growth of automotive fuel tank market are growth in the automotive industry, innovation in fuel tank technology, an increase in sales of passenger and commercial vehicles in emerging economies, increase safety, and others. The increase in sales of passenger and commercial vehicles will result in growing demand for fuel tanks in vehicles. The Passenger car segment is expected to dominate the market as compared to the commercial vehicle, due to which there will be an increase in demand for fuel tank capacity ranging from 45L to 70L. The manufacturers of fuel tanks, make use of materials that are sustainable and provide durability, and will result in increased safety of the passenger. The increased safety of fuel tank will result in the growth of the market in future.
Automotive Fuel Tank Market Segmentation:
The Global Automotive Fuel Tank Market is segmented in to key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Material: By material, the market is segmented based on plastic, steel & aluminum. Aluminum is expected to dominate the market during the forecast period due to the lightweight property of the material. The use of aluminum will reduce the overall weight of the vehicle which will increase the fuel efficiency. In emerging economies, people tend to prefer vehicles that provide increase fuel efficiency. The use of aluminum in fuel tank will result in increased efficiency and drive the growth of the market in future.
Segmentation by Capacity: By capacity, the market is segmented into <45L, 45L-70L & >70L. 45L-70L capacity is expected to dominate the market in future due to the increase installation of 45L-70L capacity fuel tank in the passenger cars.
Segmentation by Vehicle Type: Comprises of Passenger Car, and Commercial Vehicle.
Automotive Fuel Tank Market Regional Analysis:
By region, the market is segmented based on North America, Asia Pacific, Europe, and Rest of the World. In Asia Pacific region, there is an increase in the production of new vehicles in countries such as India, China, and Japan. The increase in production of vehicle will result in growing installation of fuel tanks in the vehicle. The total sales of the vehicle including passenger and commercial vehicles was about 90 million units in 2015 and is expected to reach more than 100 million by the year 2023. According to OICA, the new vehicle sales have been increased from 2013 to 2016. This increase in the sales will result in the growth of the market in future. North America is expected to be the second largest market due to increase investment for safety features in the vehicles. The increased safety feature will result in many manufacturers to develop fuel tank that are high durable. This increased safety will result in the growth of market in North America. In North America, U.S. is expected to be the dominating country that is expected to grow during the forecast period. Europe is expected to be the third largest market that is expected to grow during the forecast period. Germany is expected to dominate the market in Europe due to increase in sale of commercial vehicles.
Automotive Fuel Tank Industry Developments:
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.
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
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