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Plastic Automotive Fuel Tank to be the Top Selling Variant in Automotive Fuel Tank Market Through 2022

08-05-2021 08:11 PM CET | Tourism, Cars, Traffic

Press release from: Fact.MR

Increasing disposable income of the middle-class population, particularly in countries such as China and India, has fuelled the adoption of vehicles in these regions, which in turn is driving demand for automotive fuel tanks. Manufacturers are focusing on production of environment-friendly fuel tanks, to comply with regulations pertaining to use of hazardous materials. These factors are driving the growth of the global automotive fuel tank market.

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A recent report by Fact.MR projects the global automotive fuel tank market to register robust CAGR through 2022. The market was evaluated at revenues worth US$ 24,019.8 Mn in 2017; by 2022 this number is estimated to exceed US$ 30,000 Mn.

6 Projections by Fact.MR’s Report

• Sports-utility vehicles (SUV), sedans, and multi-purpose vehicles (MPV) have been adopting plastic fuel tanks on a large scale. This has led plastic fuel tanks to remain preferred among material type, with sales estimated to account for nearly US$ 28,000 Mn in revenues by 2022-end. In terms of sales, plastic fuel tanks are anticipated to register the highest CAGR through 2022. In addition, aluminum fuel tanks will register the second-highest CAGR in the market through 2022.
• By capacity, 45-75 L fuel tanks are expected to remain sought-after in the global automotive fuel tank market. However sales of above 75 L fuel tanks will register the fastest expansion through 2022. More than half of the market is estimated to be held by 45-75 L fuel tanks in 2017, in terms of revenues. Less than 45 L fuel tank sales are expected to account for comparatively lower revenues than plastic fuel tanks, but higher than aluminum fuel tanks in the market.

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• OEM will continue to remain dominant in the global automotive fuel tank market. Sales of fuel tanks in OEM are expected to surpass US$ 30,000 Mn in revenues by 2022-end. Fuel tank sales in aftermarket are projected to register the fastest expansion through 2022. However, sales of fuel tanks in aftermarket will account for comparatively lower revenue share than OEM, which will hold more than three-fourth revenue share of the global automotive fuel tank market in 2017.
• Sales of fuel tanks will remain highest in passenger cars based on vehicle type, and will account for around three-fourth share of the market in 2017. Fuel tank sales in passenger cars are estimated to create an absolute $ opportunity of nearly US$ 8,000 Mn between 2017 and 2022. In addition, fuel tanks sales in HCVs will exhibit the Highest CAGR through 2022. In LCVs, demand for fuel tanks will remain relatively higher than in HCVs throughout the forecast period.
• Asia Pacific excluding Japan (APEJ) will remain dominant in the market. Fuel tank sales in North America and Europe will collectively reach US$ 7885.2 Mn in revenues by 2022-end. However, demand for fuel tanks in Japan and Middle East and Africa (MEA) will continue to be sluggish in the market.

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• Key market players in the global automotive fuel tank market include Spectra Premium Industries Inc., Martinrea International Inc., YAPP Automotive Parts Co., Ltd., TI Automotive Ltd., Kautex Textron GmbH & Co. KG, Yachiyo Industry Co., Ltd., Magna International Inc., and Compagnie Plastic Omnium SA.

Chapter 1 – Executive Summary: Automotive Fuel Tank Market
The first chapter of the report offers a holistic overview of the automotive fuel tank market analysis performed by Fact.MR.
The executive summary offers a quick graphical glance at the historic, current, and prospective market sizing and forecast for the forecast period 2017-2022.

Chapter 2: Automotive Fuel Tank Market Overview
This section of the report focuses on a range of macros associated with the growth of the automotive fuel tank market, followed by in-depth impact factor analysis, extensive supply chain analysis, and cost structure assessment. The report further offers region-wise intensity mapping of the market presence of key stakeholders.

Read More Trending and Similar Reports from Fact.MR – https://www.globenewswire.com/en/news-release/2019/05/28/1853261/0/en/Electric-Vehicle-Battery-Sales-Upheld-by-Rapid-Adoption-of-EVs-and-Tightened-Fuel-economy-Standards-Fact-MR.html

Chapter 3: Market Segmentation by Material Type
This part of the report elaborates on the assessment of the automotive fuel tank market on the basis of material type – plastic, steel, and aluminum. Insights on the revenue and market share and yearly growth are provided.

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