Press release
Automotive Fuel Tank Market Worth will cross USD 16.55 billion by 2023
Browse details of 120 pages research report developed on Global Automotive Fuel Tank Market @ https://www.researchcosmos.com/reports/global-automotive-fuel-tank-market-growth-trends-forecast-and-challenges-2018-2023/5445805
Volatile Raw Material Prices Hampering the Market Growth
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.
Overall, the raw materials price fluctuations pose a serious threat to the growth of automotive fuel tank market, as it puts pressure on the supply side resulting in increased production cost. Shortage of raw material supply and increasing demand from automobile industry would adversely affect the market sentiments.
Asia-Pacific is dominating the market growth
The 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.
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Key Developments in the Market
• January 2018: The Clarity model of 2018,is the latest Honda to use a fuel cell powered by compressed hydrogen
• October 2017: Toyota has announced that Mirai, the auto company’s fuel cell electric vehicles frequently seen refueling at hydrogen stations in California
• January 2018: Hyundai Nexo launched at CES 2018: A fuel cell EV that will be Hyundai’s flagship eco-vehicle
Reasons to Purchase this Report
• Analyzing various perspectives of the market with the help of Porter’s five forces analysis
• Study on product type and application expected to dominate the market.
• Study on regions expected to witness fastest growth during the forecast period.
• Identify the latest developments, market shares and strategies employed by the major market players.
• 3 months analyst support along with the Market Estimate sheet (in excel).
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.
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About Us:
Research Cosmos is an aggregator of syndicated and bespoke market research, business intelligence and consulting services on the gamut of sectors across the globe. We’re associated with world-renowned publishers who when combined, serve hundreds of fortune listed companies and publish wide range of insightful reports which cover nook and corner of every industry vertical.
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