Global Automotive Fuel Tank Market 2017-2021

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

• Americas
• APAC
• EMEA

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?