Press release
Global Automotive Fuel Tanks Market to Witness Significant Growth in the APAC Region
Conventional Fuel to hold a lion’s share of the automotive fuel tanks market
With a value share of about 94%, conventional fuels will remain dominant in the automotive fuel tanks market and unless radical new technologies are developed, it is quite unlikely that alternate fuels should come anywhere close. A market value of about US$ 38 Bn likely to be recorded by 2025 with a CAGR of 7.0% makes conventional fuels extremely important in the medium to long term.
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45 to 75 Liters Segment will lose market share to the Above 75 Liters segment
The 45 to 75 Liters fuel tank segment is estimated to account for more than 55% value share by capacity in 2017. However, it is losing popularity to the Above 75 Liters segment as consumers are expressing a preference for carrying larger amounts of fuel. This is particularly true in the commercial sector as a large fuel tank reduces the constant need to refuel the tank over and over again. As road connectivity and infrastructure improves in emerging economies, the Above 75 Liters segment is predicted to become popular.
Greater opportunity for OEMs as opposed to the Aftermarket
The OEM channel is a far more profitable opportunity for key stakeholders in the automotive fuel tanks market as it represents a consistent market share of 91% during the forecast period. The OEM channel is projected to retain its commanding position in the global market and is poised to be worth more than US$ 37 Bn by the end of the forecast period.
Focus on Passenger Cars in the automotive fuel tanks market
Passenger Cars account for a market share of more than 3/4th of the automotive fuel tanks market and it wouldn’t be surprising if companies decide to target this segment over both the LCV and HCV segments. The passenger car segment is on track to be worth over US$ 30 Bn by end 2025 and could grow with a robust CAGR of 7.0% during the eight year study period.
APAC alone accounts for almost half the global automotive fuel tanks market
The APAC region is likely to touch a market share of 50% in the global automotive fuel tanks market in 2017, largely led by the fast-growing economies of China and India. A value of around US$ 20 Bn in 2025 is just the tip of the iceberg of limitless potential that exists for major stakeholders in the APAC automotive fuel tanks market.
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Competition Dashboard
The companies profiled in the report include Kautex Textron GmbH & Co KG, Plastic Omnium SA, WESTPORT FUEL SYSTEMS INC, MAGNA INTERNATIONAL INC, TI Automotive Ltd, YAPP Automotive Parts Co., Ltd., Benteler International AG, Kongsberg Automotive, Toyoda Gosei Co., Ltd., Visteon Corporation, ALLGAIER WERKE GMBH, Donghee Industrial CO. LTD., FTS CO. LTD., FUTABA INDUSTRIAL CO. LTD., Hwashin CO., LTD., Martinrea International Inc., NORTHSIDE INDUSTRIES, SMA SERBATOI SPA, Spectra Premium Inc., and Yachiyo Industry Co., Ltd.
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