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Collapsible Fuel Tank Market Size, Share, Industry Analysis And Outlook By 2033
Collapsible Fuel Tank Market Size
As per the report, the collapsible fuel tank market size has grown strongly in recent years. It will grow from $1.45 billion in 2023 to $1.59 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The collapsible fuel tank market size is expected to see strong growth in the next few years. It will grow to $2.3 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%.
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Growing Electric Vehicle Demand Drives Collapsible Fuel Tank Market
Rising demand for electric vehicles is expected to propel the growth of the collapsible fuel tank market going forward. Electric vehicles refer to vehicles that use electricity to improve vehicle efficiency. Fuel tanks for extended-range electric vehicles need to be able to endure high vapor pressures allowing optimization of the vehicle's full electric operating range driving mode, as a result, rising demand for electric vehicles increases the demand for collapsible fuel tank market. For instance, in September 2022, according to the International Energy Agency, a France-based autonomous intergovernmental organization, electric car sales set a new high in 2021, climbing by 4%. Sales nearly doubled to 6.6 million compared to 2020, increasing the total number of electric vehicles on the road to 16.5 million. Therefore, rising demand for electric vehicles is driving the collapsible fuel tanks market.
Innovative Products Drive Collapsible Fuel Tank Market Growth
Product innovations have emerged as a key trend gaining popularity in the collapsible fuel tank market. Major companies operating in the collapsible fuel tank market are developing new products to strengthen their position in collapsible fuel tank market. For instance, in July 2022, Interstate Products, a US-based multi-brand supplier of quality environmental, facility, storage, and safety product solutions, launched expanded flexible fuel bladder. With storage bladders for high amounts of gasoline and water, the firm now offers portable liquid storage solutions. They are suitable for most diesel and jet fuels and can be utilised as an above-ground storage tank. Military-grade nitrile and mil-spec urethane are also available in the normal sizes for the industry (50,000, 100,000, and 210,000 gallons). Custom-engineered solutions can also be provided.
The collapsible fuel tank market covered in this report is segmented -
1) By Type: Small Capacity, Medium Capacity, Large Capacity
2) By Fabric Material: Polyurethane, Composite Material
3) By End User: Agriculture, Mining, Military Application, Commercial, Other End Users
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Major companies operating in the collapsible fuel tank market report are Meggitt PLC, GTA Containers Inc., Aero Tec Laboratories Ltd., Amufuel, MPC Containment International LLC, Splash Containment, Turtle-Pac, AeroControlex, Western Global, Fawcett Christie Hydraulics Ltd., Ready Containment LLC, Krampitz Tanksystem GmbH, Flexi Tank Systems, Desert Plastics, Liquid Containment Pty Ltd, Waterplex Pty Ltd, SEI Industries Ltd., Fol-Da-Tank Company, Piusi SpA, Chem-Tainer Industries, Custom-Pak Inc., Rain for Rent, Husky Portable Containment, Megaflex Ltd., Space Bladder, Cepco Tool Company Inc., ReadyH2 Products Inc., Fleximake Pty Ltd, Plastica Alfa Srl, Interstate Products Inc.
Contents of the report:
1. Executive Summary
2. Collapsible Fuel Tank Market Report Structure
3. Collapsible Fuel Tank Market Trends And Strategies
4. Collapsible Fuel Tank Market - Macro Economic Scenario
5. Collapsible Fuel Tank Market Size And Growth
…..
27. Collapsible Fuel Tank Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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