Global Automotive Fuel Tank Market Analysis, Application & Forecast to 2025
Posted by Bharat Book on November 16th, 2020
Bharat Book Bureau Provides the Trending Market Research Report on “Global Automotive Fuel Tank Market By Vehicle Type (Passenger Cars, Two-Wheelers and Commercial Vehicles), By Capacity (<15L, 15L-45L, 45L-70L & >70L), By Region, Competition, Forecast & Opportunities, 2025”under Automotive Category. The report offers a collection of superior market research, market analysis, competitive intelligence and Market reports.
In 2019, the Global Automotive Fuel Tank Market stood around 153 million units and is expected to witness a CAGR of over 13% during 2021 - 2025. Increasing vehicle production and imposing regulation on reducing vehicle weight by governments of several countries are among the major driving factors of automotive fuel tank market across the globe. In Europe and North America, automotive manufacturers are obligated by government regulations to come up with innovative designs of vehicles to improve fuel efficiency and lower fuel consumption. These factors are expected to drive the automotive fuel tank market through 2025.
Global automotive fuel tank market is segmented into by vehicle type and by capacity. In terms of vehicle type, the market is further segmented into passenger car, commercial vehicle and two-wheeler. Passenger car segment held the largest market share in 2019 and this trend is expected to continue over the course of next five years as demand for passenger cars is increasing enormously across the globe due to growing per capita income and rising need for personal transportation.
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In terms of fuel tank capacity, the market is further segmented into <15L, 15-45L, 45-70L, >70L. As of 2019, 15-45L segment dominated the market, followed by <15L segment, and this trend is expected to prevail through 2025. In terms of regional analysis, the market can be segmented into Asia-Pacific, North America, Europe, South America and Africa. Asia-Pacific is anticipated to grow at the highest rate during the forecast period due to favorable government initiatives and support, combined with increasing production of vehicles in various countries of the region. In Asia-Pacific, China dominated the global market and the country’s vehicle production is growing at an impressive rate which is further forecast to grow at rapid rate in the coming years as well.
Major players operating in the global automotive fuel tank market include Magna International Inc., Kautex Textron Gmbh & Co. KG, Plastic Omnium Auto Inergy Ltd., Yachiyo Industry Co Ltd, TI Automotive Ltd, among others.
Years considered for this report:
Objective of the Study:
To perform the study, Our Research conducted primary as well as exhaustive secondary research. Initially, Our Research prepared an exhaustive list of automotive fuel tank players operating globally. Subsequently, Our Research conducted primary research surveys, which include primary calls, email responses, etc., with the identified companies. While interviewing, the respondents were also asked about their major competitors. Through this technique, Our Research could include manufacturers which could not be identified due to the limitations of secondary research. Our Research analysed product offerings and regional presence of all major automotive fuel tank suppliers across the globe.
Our Research calculated the market size for global automotive fuel tank by using a bottom-up technique, wherein manufacturers’ volume sales data for different applications, were recorded as well as forecast for the future years. Our Research sourced these values from industry experts and company representatives, and externally validated through analysing historical sales data of respective manufacturers to arrive at the overall market size. Multiple secondary sources such as directories, company websites, company annual reports, white papers, investor presentations and financial reports were also studied by Our Research.
Key Target Audience:
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as automotive fuel tank manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
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Joined: August 18th, 2017
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