Press release
Automotive Fuel Tank Market: Key Drivers, Future Trends, and Market Growth Forecast 2024-2029
Automotive Fuel Tank Market Size
What Is The Projected Market Size Of The Global Automotive Fuel Tank Market And Its Growth Rate?
The global automotive fuel tank market has witnessed robust growth in recent years owing to the following key factors:
•The market size of the automotive fuel tank is predicted to surge from $20.19 billion in 2024 to $21.67 billion in 2025 at a CAGR of 7.3%.
•The future market size is forecasted to reach $28.94 billion in 2029. This signifies a noteworthy growth at a steady CAGR of 7.5%.
What Is Driving The Growth In The Automotive Fuel Tank Market?
The growth in the automotive fuel tank market is largely driven by the escalating demand for passenger cars. Passenger cars, having at least four wheels and designed to carry passengers with up to eight seats, have witnessed an impressive growth in the industry, contributing significantly to production, domestic sales, and exports. The European Automobile Manufacturers Association reported an approximately 10% increase in global new car sales in March 2024, marking a rise in passenger car demand and hence, propelling the growth of the automotive fuel tank market.
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Who Are the Key Players Driving Automotive Fuel Tank Market Growth?
The key players shaping the growth and dynamics of the automotive fuel tank market are:
•Continental AG
•Magna International
•Kautex Textron GmbH & Co. KG
•Benteler International AG
•The Plastic Omnium Group
•Compagnie Plastic Omnium SA
•Toyoda Gosei Co. Ltd.
•Martinrea International Inc.
•FUTABA INDUSTRIAL CO. LTD.
•Donghee Industrial CO. LTD.
•TI Fluid Systems
•Boyd Welding
•Unipres Corporation
•Textron - KautexV (US),
•Yapp Automotive Parts Co. Ltd
•Yachiyo Industries Co. Limited, Inergy Automotive Systems
•Spectra Premium Inc.
•Fuel Total Systems (FTS) Co. Ltd
•Unipres Corporation
•SMA SERBATOI SPA
•FTS INDIA PRIVATE LIMITED
•Yeedah Composite Material Co. Ltd.
What Are The Key Trends In The Automotive Fuel Tank Market?
Major trends shaping the global automotive fuel tank market include:
•Smart fuel management solutions
•Adaptation to changing automotive architectures
•Transition to alternative fuel technologies
•Focus on lightweight designs
•Integration of advanced materials.
What Are The Segments Of The Global Automotive Fuel Tank Market?
The automotive fuel tank market is segmented by:
1) By Capacity: Less Than 45 Liters, 45-70 Liters, Above 70 Liters
2) By Material Type: Aluminum, Plastic, Steel
3) By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles
Which Region Leads The Automotive Fuel Tank Market?
Asia-Pacific dominated the automotive fuel tank market in 2024 and is anticipated to lead the market in the forecast period. The other regions covered in this report include Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Automotive Fuel Tank Market Global Market Report?
- Market Size Analysis: Analyze the Automotive Fuel Tank Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Automotive Fuel Tank Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Automotive Fuel Tank Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Automotive Fuel Tank Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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