Press release
Automotive Fuel Tank Market to Cross USD 16.55 Billion by 2023 | CAGR of 7.8% | Global Key Players - Magna International, Plastic Omnium Group, Ti Automotive, Unipres, Kautex Textron Gmbh, Central Precision
Automotive Fuel Tank Market
Overview of the Global Automotive Fuel Tank Market:
The Global Automotive Fuel Tank Market is expected to grow at a CAGR of 7.8% during forecast period, to a market size of USD 16.55 Billion by the year 2023.
The 2016 Grand Cherokee features a 93-liter fuel tank that has a potential range of over 1200 km. 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.
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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. The economy rebounds and fall decides the cost for raw materials fluctuation in the global market. Market speculation usually makes the magnesium price more volatile, which in turn affects the fuel tank industry. For instance, speculators drove the prices up in 2006 through 2008.
Regional analysis, 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, as all the heavy commercial vehicles feature fuel tanks above 70 liters and their sales are expected to grow significantly over the forecast period.
This comprehensive Automotive Fuel Tank Market research report 2019 – 2023 includes a brief on these trends that can help the businesses operating in the industry to understand the market and strategize for their business expansion accordingly. The research report analyzes the market size, industry share, growth, key segments, CAGR and key drivers.
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Major Key Players:
1 Magna International Inc
2 Plastic Omnium Group
3 Ti Automotive
4 Unipres Corporation
5 Kautex Textron Gmbh
6 Yapp Automotive Parts Co Ltd
7 Central Precision Limited
8 Martinrea International Inc.
9 Yachiyo Industry Co., Ltd and More……………..
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Table of Contents:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Market Overview and Trends
5 Market Dynamics
6 Global Automotive Fuel Tank Market Segmentation, By Capacity
7 Global Automotive Fuel Tank Market Segmentation, By Material Type
8 Global Automotive Fuel Tank Market Segmentation, Segmented By Region
9 Competitive Landscape and Introduction
10 Key Vendor Analysis (Overview, Products & Services, Strategies)
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