Automotive Fuel Tank Market worth $27.4 billion by 2027 - PowerPoint PPT Presentation

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Automotive Fuel Tank Market worth $27.4 billion by 2027


Automotive Fuel Tank Market by Capacity (70 L), Material (Aluminium, Plastic & Steel), SCR Technology, CNG Tank Type (Type 1, Type 2, Type 3 & Type 4), Propulsion Type (Hybrid, Hydrogen, ICE & NGV) and Region - Global Forecast to 2027 – PowerPoint PPT presentation

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Title: Automotive Fuel Tank Market worth $27.4 billion by 2027

MarketsandMarkets Presents

Automotive Fuel Tank Market worth 27.4 billion
by 2027
The report "Automotive Fuel Tank Market by
Capacity (lt45 L, 45 L-70 L gt70 L), Material
(Aluminium, Plastic Steel), SCR Technology, CNG
Tank Type (Type 1, Type 2, Type 3 Type 4),
Propulsion Type (Hybrid, Hydrogen, ICE NGV) and
Region - Global Forecast to 2027", The automotive
fuel tank market is estimated to be USD 20.5
billion in 2020 and projected to reach USD 27.4
billion by 2027, at a CAGR of 4.2. The market
is driven by increasing vehicle production,
including passenger and commercial vehicles,
demand for lightweight vehicles for achieving a
longer driving range, government support for
alternate fuels, stringent emission norms that
require minimum GHG emissions, and government
initiatives pertaining to hydrogen
infrastructure. Browse 145 market data Tables
and 50 Figures spread through 181 Pages and
in-depth TOC on "Automotive Fuel Tank
Market The key players in the market include
The Plastic Omnium (France), Textron-Kautex
(Germany), Yapp (China), TI Fluid (UK), Yachiyo
(Japan), Unipres (Japan), Fuel Total Systems
(Japan), Magna International (Canada), and SMA
Serbatoi S.P.A. (Italy), and among others.
High Density Polyethylene to be the most widely
used material for automotive fuel tanks
market Plastic fuel tanks are principally
produced using High Density Polyethylene (HDPE).
These tanks are lightweight and can be easily
molded according to the requirements of OEMs. The
demand for plastic fuel tanks is higher than
metal fuel tanks, resulting in an increased
demand for HDPE. Plastic fuel tanks find
application in almost every vehicle segment,
including passenger cars, LCVs, and HCVs. As of
2020, plastic fuel tanks are estimated to account
for the largest share, in terms of both volume
and value, of the global automotive fuel tank
market. The demand for plastic fuel tanks is
primarily driven by increasing vehicle production
and the growing trend of vehicle weight
reduction, which has been triggered by stringent
emission norms. Also, there is an increase in the
number of passenger and commercial vehicles in
developing countries like India as well as
developed countries like Japan. Get The PDF
Brochure For This Report _at_ https//www.marketsandm
The 4570L capacity segment is projected to be
the largest automotive fuel tank market, by
capacity The average size of an automobile fuel
tank is between 40 and 70 liters. The automotive
fuel tank market is classified into three main
categories in terms of capacitylt45 liters, 4570
liters, and gt70 liters. Many passenger vehicles,
including mini cars, hatchbacks, and mid-size
sedans, fall under the category with a fuel tank
capacity of less than 45 liters. Many SUVs and
luxury cars have tank capacities greater than 70
liters. Among all the three segments, the largest
market is for fuel tank capacity with 45-70
liters as the vehicle production for sedans and
mini SUVs is growing at a fast rate in Asian and
European countries like Japan, China, India,
Germany, France, and Spain. Request FREE Sample
Report _at_ https//
sampleNew.asp?id23737735 Asia Oceania is
projected to be the fastest growing automotive
fuel tank market The Asia Oceania region is the
largest automobile producer, given the increasing
demand for passenger vehicles in countries such
as China, India, Japan, and South Korea. China is
the biggest manufacturer of vehicles in the
world. Indias commercial vehicle market has been
growing eminently and contributes a significant
share to the national GDP.
Moreover, growing industrialization and improving
developments in infrastructure in the Asia
Oceania region is driving the growth of
commercial vehicles. Also, the manufacturing and
production of vehicles are growing at a fast pace
due to FDIs coming in countries like Thailand,
Malaysia, and Vietnam. With this growth in
vehicle production, the demand for automotive
fuel tanks has increased in Asia
Oceania. Hydrogen tank to be the fastest growing
segment of the automotive fuel tank market, by
propulsion The increasing stringency of emission
and fuel efficiency norms has shifted the focus
of automotive manufacturers toward alternative
fuel vehicles such as compressed natural gas
(CNG), liquefied natural gas (LNG), and fuel cell
vehicles. Under the efficiency standards adopted
in 2012, the US passenger vehicle fleet needs to
achieve an average fuel economy of 49.1 miles per
gallon (mpg) by 2025, or 54.5 mpg as measured in
terms of CO2 emissions with various credits for
additional climate benefits factored in. For the
year 2020, the CAFE standards have set the limit
at 49 mpg for cars and 25 mpg for trucks. Several
governments have set renewable energy targets and
implemented favorable policies such as the Kyoto
Protocol. Japan has set a target of setting up
900 hydrogen refuelling stations and 800,000
hydrogen fuel cars by 2028, which will boost the
market for hydrogen fuel tanks. Thus, hydrogen
fuel tank is projected to be the fastest growing
market during the forecast period.
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