2 Wheeler Fuel Tank Market Growth, Trends, and Future Prospects | CAGR of 7.4% by 2033

The global 2 Wheeler Fuel Tank Market has experienced significant growth and transformation, driven by increase in use of two-wheelers in last mile deliveries, growing popularity of motorcycles for leisure and adventure, and increase in sales of two-wheelers in developing countries. Also, advancements in material technology and growth in demand for personalized fuel tanks are expected to provide lucrative market growth opportunities during the forecast period. The global 2-wheeler fuel tank market size was valued at $6.8 billion in 2023, and is projected to reach $13.7 billion by 2033, growing at a CAGR of 7.4% from 2024 to 2033.

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2-wheeler fuel tanks are the tanks or reservoir integrated into 2-wheelers, which are primarily responsible for containing liquid fuel such as petrol, or diesel. 2-wheeler fuel tanks generally have a range of 5 liters to 20 liters and are manufactured utilizing metals, plastic or composite materials.

By capacity, the less than 20 liter segment held the highest market share in 2023, owing to the less than 20 liter tanks being generally manufactured for use in smaller vehicles, which have low fuel requirement, often between 4 to 8 liters, as they are designed for short-distance, urban travel. Urban and city commuters require compactness and efficiency, leading to smaller tanks design. In addition, two-wheelers have a high fuel efficiency compared to any other vehicle and the majority of smaller tank motorcycles are intended to be used in cities and for short travels.

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The 2-wheeler fuel tank industry is segmented into capacity, material type, end user, and region. On the basis of capacity, the market is segregated into less than 20 liters and more than 20 liters. By material type, the market is fragmented into metal and plastic. On the basis of end user, the global market is segmented into scooters and bikes. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America.

The global 2-wheeler fuel tank industry growth is driven by increase in use of two wheeler in last mile deliveries, growth in popularity of motorcycles for leisure and adventures, and increase in sale of two wheeler in developing countries. However, factors such as growth in focus towards electric 2 wheelers and high cost of composite tank and stringent regulatory framework hamper the market growth. On the contrary, advancements in material technology, and growth in demand for personalized fuel tanks provide lucrative market growth opportunity.

The key players profiled in this report include

Suzuki Motor Corporation
Lumax Industries
Harley Davidson
Walbro
Royal Enfield
A.G Industries Pvt. Ltd.
Yamaha Motor Co., Ltd.
Piaggio Vehicles Pvt. Ltd.
GOSHI GIKEN CO., LTD.
Honda Motor Co. Ltd

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Fuel tanks are an essential component of modern two-wheelers as they play a crucial role in vehicle performance, safety, and aesthetics. However, majority of the two wheelers in the market today use the same traditional material for manufacturing fuel tanks. The traditional materials such as aluminum, steel and other metals used in manufacturing are heavier in weight and are more prone to dent or damage during an impact. Moreover, 2-wheeler manufacturers today utilize novel manufacturing techniques to reduce the manufacturing cost and offer more durable fuel tanks.

By material type, the metal segment held the highest market share in the 2-wheeler fuel tank industry in 2023, owing to metal fuel tanks being highly durable and resistant to impact, making them a preferred choice over plastic alternatives, especially for adventure and touring motorcycles. Metals like steel and aluminum are strong and can withstand significant impacts, thus reducing the risk of fuel leaks or ruptures during accidents. Moreover, metal tanks are more robust and can endure daily wear and tear, ensuring a longer lifespan compared to many plastic tanks. Similarly, metal 2-wheeler fuel tanks can easily be repaired and thus incur low maintenance costs.

By end user, the bike segment held the highest market share in 2023, owing to suitability of bikes for short-distance travel, thus making them a good option for use in daily commuting and for commercial activities such as small-scale or last mile deliveries. Moreover, in emerging markets such as India, Southeast Asia, and Africa, the growth in middle class and increased disposable income, makes motorcycles more accessible to a larger pool of population. Many individuals in these regions prefer motorcycles for personal transportation due to affordability and practicality. Furthermore, there is a growing trend of motorcycle clubs and organized bike events, which are further driving the motorcycle segment demand.

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The growing urbanization has led to densely populated cities and congested roads, where larger delivery vehicles such as buses and trucks struggle to navigate. 2-wheelers excel in these environments, allowing easy maneuvering through urban and traffic areas and can easily reach narrow streets or remote urban areas, thus ensuring timely deliveries. In addition, two-wheelers are a cost-efficient option for delivery services operators as they require less initial investment compared to vans or trucks and incur lower operational expenses for fuel, maintenance, and insurance.

According to a study conducted by the U.S. Department of Transportation, emissions from the last mile delivery can account for up to 50% of total carbon emissions. In addition, delivery vans and trucks cause vehicle congestion and safety issues in urban city centers. On the contrary, bikes and scooters offer a sustainable solution for the last mile delivery and low cost of operation. In light of recent disruptions such as the COVID-19 pandemic, bike deliveries have demonstrated their resilience by providing essential services such as grocery and medicine delivery, thus ensuring continuity in supply chains and meeting the needs of last mile solutions.

Regional Analysis:

By region, Asia-Pacific held the highest market share in terms of revenue in 2023, owing to growing traffic congestion and increasing fuel prices, many countries shifting towards 2 wheelers. In addition, countries such as China have initiated various measures to promote green transportation and implemented regulations regarding vehicle emissions, which contribute to the 2-wheeler fuel tank market growth. For example, China introduced the three-year Action Plan, the "Blue Sky Defense War" and has taken steps such as implementing the China VI emission standard, promoting the adoption of 2-wheelers, improving fuel quality, and helping to reduce traffic congestion.

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