Key Companies Analyzed In 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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Global Automotive Fuel Tank Industry Highlights:
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.
The report for Global Automotive Fuel Tank Market of Market Research Future comprises 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.
Thee fuel tank is used for the storage of flammable fuel in the vehicle. The fuel tank is mainly installed at the engine side where it is propelled and released in the engine for injection. The automotive manufacturers develop fuel tanks in different capacity depending on the type of vehicle. The capacity ranges in <45L, 45L-70L & >70L. The fuel tank can be sized as small plastic tanks or multi-chamber fuel tanks. There are various uses of the fuel tank, which include filling, storage of fuel, venting, feeding in the engine, and others. The larger capacity fuel tanks occupy more space as compared to the small one, due to which the overall weight of the vehicle is increased. To reduce the weight of the vehicle, manufacturers design the fuel tanks based on the trade-off consideration of vehicle. There are various materials used in the manufacture of fuel tanks are plastic, steel, and aluminum. Steel is more durable but increases the overall weight of the vehicle which will increase the fuel consumption. Automotive tend to use aluminum because it reduces the overall weight of the vehicle and reduces fuel consumption. The automotive industry is moving towards electrification. There will be an increase in the sales of electric vehicles in future, due to which the use of fuel tank will be decline. This will restrain the market in future.
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