Automotive Fuel Tanks Market Trends, Sector Overview and Forecast to 2028
Powered by
All the vital news, analysis, and commentary curated by our industry experts.
Automotive Fuel Tanks Market Report Overview
The automotive light vehicle fuel tank market was estimated at 80 million units, recording a substantial annual growth in 2023. However, the market will decline at a CAGR of more than 1% during 2023-2028. The Asia-Pacific region led the fuel tank market in 2023.
Automotive Fuel Tanks Market Outlook, 2023-2028 (Million Units)
Buy the Full Report for More Insights into the Automotive Fuel Tanks Market
The automotive fuel tank market report provides a comprehensive overview of the automotive fuel tank market trends and drivers. The report also provides a detailed overview of technological developments and innovations, PESTER analysis, and leading component suppliers. Furthermore, the report evaluates strategic initiatives by market players and their recent product innovations to identify growth opportunities. The report also provides an overview of patent filings across, regions, countries, and top applicants.
Market Size (2023) | 80 million units |
CAGR (2023-2028) | <(1)% |
Historical Period | 2018-2022 |
Forecast Period | 2023-2028 |
Key Sectors | LPG/CNG Additional Gas Tanks, Fuel Tanks-Plastic, and Fuel Tanks-Steel |
Key Regions | Asia-Pacific, Europe, North America, South America, and MEA |
Key Companies | Plastic Omnium, Kautex Textron GmbH & Co KG, TI Fluid Systems, Steel Tank Producers, and Others |
Enquire & Decide | Discover the perfect solution for your business needs. Enquire now and let us help you make an informed decision before making a purchase. |
Automotive Fuel Tanks Market Drivers
The key drivers in the automotive fuel tanks market are the regulations on CO2 emissions and the growing demand for lightweight materials.
Regulation on CO2 emissions: Regulations on CO2 emissions often include fuel efficiency standards that mandate automakers to reduce the average CO2 emissions of their vehicle fleets over time. Automotive fuel tanks play a crucial role in meeting these standards by optimizing fuel storage, delivery, and management systems to minimize fuel consumption and CO2 emissions.
Buy the Full Report for More Driver Insights into the Automotive Fuel Tanks Market
Automotive Fuel Tanks Market Segmentation by Regions
Asia-Pacific was leading the automotive fuel tanks market in 2023.
The key regions in the automotive fuel tanks market are Asia-Pacific, Europe, North America, South America, and MEA. The Asia Pacific region is a major automotive manufacturing hub, with countries like China, Japan, India, and South Korea being key players. The region has been witnessing a steady increase in vehicle production. This, in turn, is creating a significant demand for automotive fuel tanks.
Automotive Fuel Tanks Market Analysis by Regions, 2023 (%)
Buy the Full Report for More Region Insights into the Automotive Fuel Tanks Market
Automotive Fuel Tanks Market - Competitive Landscape
A few of the top companies operating in the automotive fuel tanks market are:
- Plastic Omnium
- Kautex Textron GmbH & Co KG
- TI Fluid Systems
- Steel tank producers
- Others
Plastic Omnium develops fuel tanks using lightweight materials such as advanced plastics or composites to reduce vehicle weight and improve fuel efficiency. Plastic Omnium implements advanced manufacturing processes like blow molding or injection molding to create fuel tanks with complex shapes, optimized for space and weight savings. In August 2023, the company revealed its intentions to establish a hydrogen storage facility in Grand Blanc Township, Michigan.
Automotive Fuel Tanks Market Analysis by Companies
Buy the Full Report to Know More about Major Developments and Strategic Actions of Automotive Fuel Tanks Market Companies
Automotive Fuel Tanks Market Segmentation by Sectors
In 2023, plastic fuel tanks dominated the automotive fuel tanks market
The key sectors in the automotive fuel tanks market are LPG/CNG additional gas tanks, fuel tanks-plastic, and fuel tanks-steel.
Automotive Fuel Tanks Market Analysis by Sectors, 2023 (%)
Buy the Full Report for More Sector Insights into the Automotive Fuel Tanks Market
Automotive Fuel Tanks Market - Latest Developments
A few of the latest developments in the fuel tanks market are:
- October 2023: Westport has recently announced the successful completion of tests on their latest conformable Compressed Natural Gas (CNG) tank technology. This new tank is more lightweight and flexible, allowing it to be shaped to fit into a wider range of vehicles.
Buy the Full Report for the Latest Development Insights into the Automotive Fuel Tanks Market
Segments Covered in the Report
Automotive Fuel Tanks Sector Outlook (Value, Million Units, 2018-2028)
- LPG/CNG Additional Gas Tanks
- Fuel Tanks-Plastic
- Fuel Tanks-Steel
Automotive Fuel Tanks Regional Outlook (Value, Million Units, 2018-2028)
- Asia-Pacific
- Europe
- North America
- South America
- MEA
Scope
This report brings together multiple data sources to provide a comprehensive overview of the global Fuel tanks sector. It includes an analysis of the following:
- Trends & Drivers: Provides an overview of the current sector scenario regarding the future outlook in terms of key trends and drivers of the sector.
- Technological Developments: Provides a detailed overview of technological developments and innovations in the sector.
- PESTER Analysis: Provides a detailed understanding of various factors such as political, economic, social, technological, environmental, and regulatory impacting the sector.
- Sector Forecast: Provides deep-dive analysis of the global market covering volume growth during 2018–2028, and spot estimates for 2030 and 2036. The analysis also covers a regional overview across four regions-Asia-Pacific, Europe, MEA, North America, and South America -highlighting sector size, and growth drivers for the region.
- Competitive Landscape: Provides an overview of leading component suppliers at a global and regional level, besides analyzing the recent product innovations and key strategic initiatives taken by the companies.
- Patent Analysis: Provides an overview of patent filings in the sector across regions, countries, and top applicants.
Reasons to Buy
- Auto OEMs and component suppliers seek the latest information on how the market is evolving to formulate their sales and marketing strategies. There is also a demand for authentic market data with a high level of detail.
- This report has been created to provide its readers with up-to-date information and analysis to uncover emerging opportunities for growth within the sector in the region.
- The report provides a detailed analysis of the regions and competitive landscape that can help companies gain insight into the region-specific nuances.
- The analysts have also placed a significant emphasis on the key trends that drive customer choice and the future opportunities that can be explored in the region, which can help companies in revenue expansion.
- To gain competitive intelligence about leading component suppliers in the sector in the region with information about their market share and growth rates.
Table of Contents
Frequently asked questions
-
What was the automotive fuel tanks market size in 2023?
The fuel tank market was estimated at 80 million units in 2023.
-
What is the growth rate of the automotive fuel tanks market?
The fuel tanks market will record a negative CAGR of more than 1% during 2023-2028.
-
Which was the sector dominated in the automotive fuel tanks market in 2023?
Plastic fuel tanks dominated the automotive fuel tanks market in 2023.
-
Which was the leading region in the automotive fuel tanks market in 2023?
Asia-Pacific was the leading region in the automotive fuel tanks market in 2023.
-
Who are the key players operating in the automotive fuel tanks market?
The top companies operating in the automotive fuel tanks market are Plastic Omnium, Kautex Textron GmbH & Co KG, TI Fluid Systems, Steel tank producers, and others.
Get in touch to find out about multi-purchase discounts
reportstore@globaldata.com
Tel +44 20 7947 2745
Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.