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Automotive Fuel Tank Market is expected to grow at a CAGR of 7.8% during forecast period| Top Vendors – Magna International Inc, Plastic Omnium Group, Ti Automotive, Unipres Corporation, Kautex Textron Gmbh, Yachiyo Industry Co., Ltd, amongst others

02-10-2019 07:12 PM CET | Logistics & Transport

Press release from: Market Prognosis

Market Analysis:

Asia-Pacific is dominating the market growth
The Asia-Pacific region, despite sluggish growth in the Chinese market, (the largest automobile market in the world), is expected to lead the growth in the automotive fuel tank market. Europe is forecasted to be one of the fastest growing markets in the above 70-liter fuel tank capacity.

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Most consumers, in addition to higher fuel-efficiency figures, are now demanding bigger fuel tanks in order to increase the range. The maximum rate of growth will be seen in the 45l-70l capacity tanks, on account of upsizing of the fuel tank capacities in 4-wheelers. The up to 45 l capacity fuel tanks cover the 2-wheeler market and the budget hatchbacks, especially in the emerging markets. In the developing nations, small hatchbacks feature small engines and fuel tanks with a capacity below 45 liters. Usage of metals as raw materials always involves the risk of its price instability in the metal commodity market. Fluctuations in the global economy, along with influx in exchange rates, make the cost of raw materials volatile which is hampering the market growth.

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Market Segments:
Automotive Fuel Tank Market is segmented by:
1. Capacity: Less Than 45 Liters, 45-70 Liters, Over 70 Liters
2. Material Type: Plastics, Aluminum, Steel
3. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the Market
• Januray2018: The Clarity model of 2018,is the latest Honda to use a fuel cell powered by compressed hydrogen
• October 2017: Toyota has announced that Mirai, the auto company’s fuel cell electric vehicles frequently seen refueling at hydrogen stations in California
• January 2018: Hyundai Nexo launched at CES 2018: A fuel cell EV that will be Hyundai’s flagship eco-vehicle.

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About Market Prognosis
We at Market Prognosis believe in giving a crystal clear view of market dynamics for achieving success in today's complex and competitive marketplace through our quantitative & qualitative research methods.
We help our clients identify the best market insights and analysis required for their business thus enabling them to take strategic and intelligent decision.
We believe in delivering actionable insights for your business growth and success.

Contact us:
ProgMark Pvt Ltd,
Thane - 421501
India.
Contact No: +1 973 241 5193
Email: sales@marketprognosis.com

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