The Business Research Company’s Automotive Fuel Tank Global Market Report 2022: Market Size, Trends, And Forecast To 2026
LONDON, GREATER LONDON, UK, May 20, 2022 /EINPresswire.com/ — According to ‘Automotive Fuel Tank Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026’ published by The Business Research Company, the automotive fuel tank market size is expected to grow to $22.98 billion in 2026 at a CAGR of 7.33%. The increasing demand for passenger cars has driven the global automotive fuel tank market growth.
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The automotive fuel tank market consists of sales of automotive fuel tanks by entities (manufacturers, sole traders, and partnerships) that are used to store, propel and release pressurized gas or fluid into automobile engine systems. This includes fuel tanks/pumps for cars, light commercial vehicles, and heavy commercial vehicles. The fuel that makes the car operate is stored in the vehicle’s gas tank. The fuel pump is what propels the fuel. The gas tank could be built of high-density polyethylene plastic, which can be molded into complicated shapes, saves space, and improves crash safety. Steel or aluminum, welded from stamped sheets, can also be used for the gas tank. The type of material used to construct the gas tank is determined by the vehicle’s manufacture and model.
Global Automotive Fuel Tank Market Trends
Technological advancements in fuel-efficient vehicles and alternate fuel vehicles is a key trend gaining popularity in the automotive fuel tank market. According to the automotive fuel tank market analysis, modern automobiles require advanced materials to improve fuel economy while retaining safety and performance. Lightweight materials have a lot of potential for improving vehicle efficiency because it requires less energy to accelerate a lighter item than a heavy one. A 10% reduction in vehicle weight might result in a 6% to 8% increase in fuel economy. A vehicle’s body and chassis can be decreased by up to 50% by replacing cast iron and traditional steel components with lightweight materials such as high-strength steel, magnesium (Mg) alloys, aluminum (Al) alloys, carbon fiber, and polymer composites. In one quarter of the US fleet, using lightweight components and high-efficiency engines enabled by new materials may save more than $5 billion gallons of fuel annually by 2030. Cars can carry more complex pollution control systems, safety devices, and integrated electrical systems without adding to the total weight of the vehicle by adopting lightweight structural materials.
Global Automotive Fuel Tank Market Segments
The global automotive fuel tank market is segmented:
By Capacity: Less than 45 Liters, 45-70 Liters, Above 70 Liters
By Material Type: Aluminum, Plastic, Steel
By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles
By Geography: The global automotive fuel tank market report is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific accounts for the largest share.
Read more on the global automotive fuel tank market report here
Automotive Fuel Tank Global Market Report 2022 is one of a series of new reports from The Business Research Company that provides automotive fuel tank market overviews, analyzes and forecasts market size and growth for the global automotive fuel tank market, automotive fuel tank global market share, automotive fuel tank global market segments and geographies, automotive fuel tank market players, automotive fuel tank market leading competitor revenues, profiles and market shares. The automotive fuel tank market report identifies top countries and segments for opportunities and strategies based on market trends and key competitors’ approaches.
TBRC’s Automotive Fuel Tank Global Market Report 2022 includes information on the following:
Data Segmentations: Market Size, Global, By Region and Country, Historic and Forecast, and Growth Rates for 60 Geographies
Key Market Players: The Plastic Omnium Group, Yapp Automotive Parts Co. Ltd, TI Fluid Systems, Yachiyo Industries Co. Limited, Unipres Corporation, Magna International, Fuel Total Systems (FTS) Co. Ltd, Compagnie Plastic Omnium SA, Kautex Textron GmbH & Co. KG, Martinrea International Inc., Unipres Corporation, Textron – KautexV (US), Benteler International AG, Allgaier Werke GmbH, Dali and Samir Engineering, Westport Fuel Systems Inc., Posco co. Ltd, Allgaier Automotive, Baosteel group corporation, Kongsberg Automotive, Toyoda Gosei Co. Ltd., Visteon Corporation, Donghee Industrial CO. LTD., FUTABA INDUSTRIAL CO. LTD., Northside Industries, SMA SERBATOI SPA, Spectra Premium Inc., Allgaier Automotive, Boyd Welding.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
And so much more.
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