DUBLIN--(BUSINESS WIRE)--The "Global Automotive Fuel Tank Market - Segmented by Capacity, Material Type, and Geography - Market Shares, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The automotive fuel tank market is expected to witness a CAGR of 7.8% during the forecast period, to reach a market size of USD 16.55 billion in 2023.
The 2016 Grand Cherokee features a 93 l fuel tank that has a potential range of over 1200 km. Most consumers, in addition to higher fuel-efficiency figures, are now demanding bigger fuel tanks in order to increase the range.
The maximum rate of growth will be seen in the 45 l-70 l capacity tanks, on account of upsizing of fuel tank capacities in four-wheelers. Fuel tanks of up to 45 l capacity cover the two-wheeler market and the budget hatchbacks, especially in the emerging markets. In the developing nations, small hatchbacks feature small engines and fuel tanks with a capacity below 45 l.
Volatile Raw Material Prices Hampering Market Growth
The usage of metals as raw materials always involves the risk of 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 economic rebound and fall decide the cost of raw material fluctuations in the global market. Market speculation usually makes the price of magnesium volatile, which, in turn, affects the fuel tank industry. For instance, speculators drove the prices up in 2006 through 2008.
Overall, the raw material price fluctuations pose a serious threat to the growth of the 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 the automobile industry would adversely affect market sentiments.
Asia-Pacific is Dominating Automotive Fuel Tank 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 l fuel tank capacity, as all the heavy commercial vehicles feature fuel tanks above 70 l and their sales are expected to grow significantly over the forecast period.
- Magna International Inc.
- Plastic Omnium Group
- Unipres Corporation
Key Topics Covered
1.1 Study Deliverables
1.2 General Study Assumptions
2. Research Methodology
2.2 Analysis Methodology
2.3 Study Phases
2.4 Econometric Modelling
3. Executive Summary
4. Market Overview and Trends
4.2 Market Trends
4.3 Porter's Five Forces Framework
5. Market Dynamics
5.1.1 Increasing Vehicle Production
5.1.2 Rising Demand for Lightweight Components to Fuel the Demand for Plastic Fuel Tanks
5.2.1 Shifting Focus Toward Electric Vehicles
5.2.2 Stringent Evaporative Emission Standards
5.3.1 Carbon Fiber Fuel Tanks
6. Global Automotive Fuel Tank Market Segmentation, by Capacity
6.1 Less Than 45 Liters
6.2 45-70 Liters
6.3 Over 70 Liters
7. Global Automotive Fuel Tank Market Segmentation, by Material Type
8. Global Automotive Fuel Tank Market Segmentation, by Region
8.1 North America
8.4 Rest of the World
9. Competitive Landscape and Introduction
9.2 Market Share Analysis
9.3 Developments of Key Players
10. Key Vendor Analysis (Overview, Products & Services, Strategies)
10.1 Magna International Inc.
10.2 Plastic Omnium Group
10.3 Ti Automotive
10.4 Unipres Corporation
10.5 Kautex Textron GmbH
10.6 Yapp Automotive Parts Co. Ltd.
10.7 Central Precision Limited
10.8 Martinrea International Inc.
10.9 Yachiyo Industry Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/research/zwdzzm/global_automotive?w=4
Laura Wood, Senior Press Manager
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Related Topics: Automotive Fuel Systems