Automotive Fuel Tank Market to grow at 5.65% compound annual growth rate by 2018 to 2023, according to “Global Automotive Fuel Tank Market Size, Share, Trends, Growth and Regional Forecast Industry Report” published by Market Research Future. This report comprises comprehensive information on Automotive Fuel Tank Market Forecast data up to 2023, with historic and current market information. Automotive Fuel Tank Industry analysis done by Material (Plastic, Steel & Aluminum), Capacity (<45L, 45L-70L & >70L), Vehicle Type (Passenger Car, and Commercial Vehicle), and region (North America, Europe, Asia Pacific, and ROW).
Automotive Fuel Tank Market Key Companies Studied in this report are 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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Global Automotive Fuel Tank Market Highlights:
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.
Questions Answered in Report:
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Market Segments Analysis:
The automotive fuel tank market is segmented based on material, capacity, and vehicle type. 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. 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.
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.
Market Research Future (MRFR) employs innovative statistical algorithms for gathering impactful market insights that can drive business decisions. An in-depth analysis of constantly evolving market trends combined with a study of historical data is leveraged for providing accurate competitive intelligence. The statistical observations made in our reports are backed by data procured through extensive primary and secondary research which include interviews with stakeholders, SEC filings, whitepaper references, annual reports of key players, etc. Top-down and bottom-up approaches are employed for authenticating the credibility of the market foresight delivered. A multi-layer verification process reaffirms the market size and revenue estimation. MRFR strives to provide reliable and transparent information that helps clients in developing growth strategies.
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.
Table Of Contents:
1 Executive Summary
2 Research Methodology
2.1 Scope Of The Stud
2.1.2 Research Objective
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
4.2 Forward Collision Warning
4.3 Dynamic Brake Support
4.4 Crash Imminent Braking
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