October 15, 2019 by Amanpreet
Automotive fuel tanks are compartments which are used for carrying flammable liquids. At the time of fuel combustion in the fuel tank, the released energy is driven into the engine for moving the vehicle. At present, automotive fuel tanks are designed from plastic material, or steel and aluminum. Their effectiveness across the automotive sector is primarily influenced due to proprieties such as heat resistance, corrosion resistance and durability. The market for automotive fuel tank at the global level is advancing as a result of exceptional boom in the adoption for MPVs, SUVs, and sedans. In order to gather sufficient information about the overall market status for automotive fuel tank, Fact.MR has published a new report titled “Automotive Fuel Tank Market Forecast, Trend Analysis & Competition Tracking: Global Market insights 2017 to 2022”. Readers can benefit from this assessment by easily inferring data highlighting essential market factors such as macroeconomic factors, Y-o-Y growth, economic outlook, supply chain, cost structure, market size and forecast, market share comparison etc.
According to report specifics, sales of plastic automotive fuel tank are projected to acquire a revenue share within the range of US$ 28-30 Bn by the end of 2022. Furthermore, aluminum and steel automotive fuel tanks are likely to drop opportunities due to discordancy in terms of lightweight and fuel efficient vehicle economy.
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Swelling Demand for Passengers Cars Propel Sales of Automotive Fuel Tank
This intelligent assessment reveals that passenger cars would continue to attract maximum sales of automotive fuel tank, thereby, generating substantial incremental opportunity for manufacturers active in the automotive fuel tank space through 2022 and ahead. However, vigorously intensifying sales of automotive fuel tank in the commercial vehicles sector is also expected to drive higher revenues during the mentioned forecast period. In terms of capacity, automotive fuel tanks possessing volume between 45-75L will retain its supremacy in terms of sales, recording over half the share across the automotive fuel tank market value until 2022.
Geographical Stance on Market Share
As per report insights, BRIC (Brazil, Russia, India and China) countries are beholding extensive growth in their automotive sector due to growing demand for passenger cars. In addition, surge in trading activities merged with growth of industrialization have encouraged the demand for commercial vehicles, thereby, creating prospective ways for automotive fuel tank companies.
Preview Analysis of Global Automotive Fuel Tank Market report Segmented By Fuel Type (Plastic, Steel, Aluminium), By Capacity (Less than 45, 45 - 75 L, Above 75 L), By Sales Channel (OEM, Aftermarket), By Vehicle Type (PC, LCV, HCV), & by Region (North America, Latin America, Europe, Japan, APEJ, MEA) –
It has been noticed that numerous stakeholders have been evidently targeting China, known to be the world’s biggest automotive market, due to its vast fiscal stimulus. Similarly, OEMs are making way across India and China with a purpose to clutch massive growth potential delivered by these nations. In the coming years, such aspects are likely to motivate sales of automotive fuel tank in the evolving revenue spaces of Asia Pacific.
The final section of the report is dedicated to detail about the competitive scenario existing in the global automotive fuel tank market. Some of the prime companies operating in the global market include Magna International Inc., Yachiyo Industry Co. Ltd., Compagnie Plastic Ominum SA, and YAPP Automotive Parts Co. Ltd. Each of these companies are assessed in terms of SWOT analysis, product innovations and developments, product portfolios, key financials and key strategies; hence, benefitting the readers to the fullest.
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