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Automotive Fuel Tank Market is driven by Increasing Trend of Vehicle Weight Reduction
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By 2022, Asia-Pacific is expected to be the largest automotive fuel tank market, followed by North America and Europe. Asia-Pacific is also expected to be the fastest growing market for automotive fuel tank during the forecast period, owing to the expected increase in the sales and production of vehicles, increasing demand for lightweight vehicles, and strict government regulation. In 2015, China, South Korea, India, and Japan were the major consumers of automotive fuel tank in the region.
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Some of the major competitors in the global automotive fuel tank market include Benteler AG, TI Automotive Inc., Yachiyo Industry Co. Ltd., Magna International Inc., Kautex Textron Gmbh & Co. KG., FTS Co., Ltd., The Plastic Omnium Group, Martinrea International Inc., Unipres Corporation, YAPP Automotive Parts Co., Ltd., and SMA Serbatoi S.P.A.
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