Overview of the global automotive fuel tank market
Technavio’s market research report predicts that the global automotive fuel tank market will grow at a CAGR of above 4% during the forecast period. Rising demand for ultra-luxury vehicles is one of the primary factors for this market’s growth. The growth in the number of ultra-high-net-worth individuals has led to a significant increase in the sales numbers of ultra-luxury vehicles. The ultra-luxury vehicle manufacturers like Porsche, Bentley, Rolls-Royce, and Jaguar have also introduced new SUVs to enter the segment and raise their sales numbers. Moreover, the luxury cars entering China and Germany are growing in number, and the automotive sector in China witnessed a rapid growth, particularly in the luxury car segment. For instance, the sales of Mercedes in China rose in 2016 with an increase of about 52% from 2015 and this rise in the sales can be attributed to the solid demand for Mercedes-Benz S-class Saloon.
One of the latest trends that will gain traction in the global automotive fuel tank market is the weight reduction in cars. The manufacturers are compelled by the fuel emission regulations in Europe and North America to come up with innovative and efficient designs to lower fuel consumption and improve the fuel efficiency. One of the effective ways is by lessening the overall weight of the vehicle as it takes about two-thirds of the energy needed to move the vehicle. Materials like composites, lightweight steel, aluminum, reinforced steel, and carbon fiber are widely used to increase the fuel economy. Moreover, the manufacturers are adopting advanced materials to cut down on the weight of the trucks and vehicles.
Competitive analysis and key vendors
The global automotive fuel tank market comprises of numerous well-known and small-scale vendors who offer products that can be used in different applications. The key vendors in the market offer customizable steel, aluminum, and plastic fuel tanks to meet customer needs further increasing the competition. Moreover, the rise in the requirement for plastic fuel tanks globally has led to manufacturers substituting the steel fuel tanks with plastic and aluminum fuel tanks to lessen the overall weight of the vehicles.
Key vendors in the market are:
- Continental
- TI Automotive
- Yachiyo Industry
- Magna international
Other prominent vendors include AETHRA GROUP AUTOMOTIVE SYSTEMS, Allgaier Werke, Boyd Welding, Donghee, and FTS.
Segmentation by product and analysis of the automotive fuel tank market
- Passenger cars
- LCVs
- M&HCVs
During 2016, the passenger cars dominated the product segment in the global automotive fuel tank market and is expected to continue its dominance over the next four years. Factors like increasing purchasing power and social recognition associated with owning cars, improving economy, lower interest rates, and a decline in fuel prices drives the growth of the segment.
Geographical segmentation and analysis of the automotive fuel tank market
In terms of geography, APAC led the global automotive fuel tank market during 2016 and is anticipated to continue the dominion during the forecast period. The increasing sales of SUVs and crossovers in countries like China and Europe drive the growth of the region globally.
Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the global automotive fuel tank market?
- What are the key market trends impacting the growth of the global automotive fuel tank market?
- What are the challenges to market growth?
- Who are the key vendors in the global automotive fuel tank market?
- What are the market opportunities and threats faced by the vendors in the global automotive fuel tank market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of the global automotive fuel tank market?
Table of Contents
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
- Market overview
- Market size and forecast
- Five forces analysis
PART 06: Market segmentation by product
- Global automotive fuel tank market in passenger cars
- Global automotive fuel tank market in LCVs
- Global automotive fuel tank market in M&HCVs
PART 07: Geographical segmentation
- Global automotive fuel tank market by geography
- Automotive fuel tank market in APAC
- Automotive fuel tank market in EMEA
- Automotive fuel tank market in Americas
PART 08: Key leading countries
PART 09: Market drivers
- Market drivers
- Low penetration of cars in emerging countries
- Increasing demand for SUVs and crossovers
- Growing demand for ultra-luxury vehicles
PART 10: Impact of drivers
PART 11: Market challenges
- Market challenges
- Rising sales of electric vehicles
- Increasing preference for car-sharing services in China, India, and Brazil
- Growing dependency on public transport
PART 12: Impact of drivers and challenges
PART 13: Market trends
- Increasing adoption of plastic fuel tanks to reduce vehicle weight
- Upsizing of fuel tank capacities due to increase in penetration of all-wheel drive vehicles
- Lightweighting of cars
PART 14: Vendor landscape
- Competitive landscape
- Other prominent vendors
PART 15: Key vendor analysis
- Continental
- TI Automotive
- Product portfolio
- Recent developments
- Yachiyo Industry
- Product portfolio
- Recent developments
- Magna International
- Product portfolio
PART 16: Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape