Automotive Fuel Tank Market: Vehicle Owners are Increasingly Demanding Large Sized Fuel Tanks
The global automotive fuel tank market revenue is foreseen to take an impressive leap, up from the value worth US$ 24 Bn attained in 2017 to beyond US$ 30 Bn towards the end of 2022. More than US$ 29 Bn worth sales have been projected through the OEM segment by the end of forecast period
[ClickPress, Thu Jun 13 2019] Fact.MR has recently compiled a report focusing on the opportunity assessment of the global automotive fuel tank market for the five-year forecast period of 2017-2022. This report provides detailed and elaborated analysis of the global landscape of automotive fuel tank, on both qualitative
and quantitative slants. The insights offered in the report are strongly backed by extensive research on key market dynamics, market sizing estimations, current and upcoming market trends, and futuristic opportunities shaping the market performance. The avant-garde insights included in the global automotive fuel tank market report aim to help business decision makers and key stakeholders in the automotive fuel tank market develop winning strategies and identify untapped opportunities to achieve high RoI in the near future.
The global automotive fuel tank market revenue is foreseen to take an impressive leap, up from the value worth US$ 24 Bn attained in 2017 to beyond US$ 30 Bn towards the end of 2022. More than US$ 29 Bn worth sales have been projected through the OEM segment by the end of forecast period; automotive fuel tank sales in aftermarket will however grow a higher rate. Fact.MR reveals that a majority of the key participants in the global automotive fuel tank market space are prioritizing business expansion within selective regional markets in an effort to strengthen presence in those territories that represent high potential automotive market.
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Although low-priced, steel or other metals fail to offer the design freedom and flexibility that often accompanies plastics. Plastic based automotive fuel tank is almost 30% lightweight than metal based automotive fuel tank, contributing significantly to the lightweight vehicular trend in the automotive space. Moreover, plastic automotive fuel tank covers better impact protection and conveniently integrates within the automotive system architecture. A myriad attributes are expected to allow plastic to maintain the lead over steel and aluminum to be used in manufacturing of automotive fuel tanks.
Passenger cars will continue to drive maximum sales of automotive fuel tank, creating a substantial incremental opportunity for automotive fuel tank manufacturers through 2022 and ahead. However, briskly expanding sales of automotive fuel tank in the commercial vehicles sector (both HCVs and LCVs) will possibly garner higher pace of revenue generation during 2017-2022, outperforming PCs in terms of CAGR. Capacity-wise, automotive fuel tanks with the capacity of 45-75L will continue to reign supreme in terms of sales, accounting for an estimated share of over half l automotive fuel tank market value throughout the projection period.
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Automotive Fuel Tank Market: Overview
The automotive fuel tank market has been analyzed in detail to offer definitive forecast insights on the market for the period 2017-22. This report is an exhaustive compilation of a detailed overview of automotive fuel tank market and analyzes the market in terms of market dynamics, macro and micro-economic determinants that shape market growth, also shedding light on other relevant factors that direct future prospects of the market trajectory.
The report aims to offer readers with ample competitive advantage and cues on market entry barriers, based on which aspiring market entrants as well as established players can drive profitable investment discretion. To aid readers’ understanding the report is systematically classified into detailed chapters. In its trailing sections the report also includes a detailed chapter on segmental analysis of automotive fuel tank market to offer veritable insights on segments’ historical and future growth estimations.
Self-Sealing Automotive Fuel Tank – An Upcoming Trend
Key stakeholders in the automotive fuel tank market are focusing on developing novel products in a bid to achieve sustenance in the competitive marketplace. Manufacturers are actively engaged in manufacturing of self-sealing automotive fuel tank that can self seal during damage, avoiding leakage of flammable liquids. Self-sealing automotive fuel tank contain multiple membranes that absorb fuel. These layers swell and expand after coming in contact with fuel in turn causing the broken layer to swell consequently sealing the puncture. This promising safety feature of self-sealing automotive fuel tank is likely to witness high customer demand in the years to follow.
Automotive Fuel Tank Market: Competition Landscape
The report includes complete assessment on key players involved in the manufacturing of automotive fuel tank. The section on competitive landscape can offer vital insights to the reader revealing SWOT analysis, product portfolios, product innovations and developments, key strategies and key financials of major companies. Few of the companies profiled in the report include Magna International Inc., Compagnie Plastic Ominum SA, Yachiyo Industry Co. Ltd., and YAPP Automotive Parts Co. Ltd.
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