Increasing disposable income of the middle-class population, particularly in countries such as China and India, has fuelled the adoption of vehicles in these regions, which in turn is driving demand for automotive fuel tanks. Manufacturers are focusing on production of environment-friendly fuel tanks, to comply with regulations pertaining to use of hazardous materials. These factors are driving the growth of the global automotive fuel tank market.

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A recent report by Fact.MR projects the global automotive fuel tank market to register robust CAGR through 2022. The market was evaluated at revenues worth US$ 24,019.8 Mn in 2017; by 2022 this number is estimated to exceed US$ 30,000 Mn.

6 Projections by Fact.MR’s Report

  1. Sports-utility vehicles (SUV), sedans, and multi-purpose vehicles (MPV) have been adopting plastic fuel tanks on a large scale. This has led plastic fuel tanks to remain preferred among material type, with sales estimated to account for nearly US$ 28,000 Mn in revenues by 2022-end. In terms of sales, plastic fuel tanks are anticipated to register the highest CAGR through 2022. In addition, aluminum fuel tanks will register the second-highest CAGR in the market through 2022.
  2. By capacity, 45-75 L fuel tanks are expected to remain sought-after in the global automotive fuel tank market. However sales of above 75 L fuel tanks will register the fastest expansion through 2022. More than half of the market is estimated to be held by 45-75 L fuel tanks in 2017, in terms of revenues. Less than 45 L fuel tank sales are expected to account for comparatively lower revenues than plastic fuel tanks, but higher than aluminum fuel tanks in the market.
  3. OEM will continue to remain dominant in the global automotive fuel tank market. Sales of fuel tanks in OEM are expected to surpass US$ 30,000 Mn in revenues by 2022-end. Fuel tank sales in aftermarket are projected to register the fastest expansion through 2022. However, sales of fuel tanks in aftermarket will account for comparatively lower revenue share than OEM, which will hold more than three-fourth revenue share of the global automotive fuel tank market in 2017.
  4. Sales of fuel tanks will remain highest in passenger cars based on vehicle type, and will account for around three-fourth share of the market in 2017. Fuel tank sales in passenger cars are estimated to create an absolute $ opportunity of nearly US$ 8,000 Mn between 2017 and 2022. In addition, fuel tanks sales in HCVs will exhibit the Highest CAGR through 2022. In LCVs, demand for fuel tanks will remain relatively higher than in HCVs throughout the forecast period.
  5. Asia Pacific excluding Japan (APEJ) will remain dominant in the market. Fuel tank sales in North America and Europe will collectively reach US$ 7885.2 Mn in revenues by 2022-end. However, demand for fuel tanks in Japan and Middle East and Africa (MEA) will continue to be sluggish in the market.
  6. Key market players in the global automotive fuel tank market include Spectra Premium Industries Inc., Martinrea International Inc., YAPP Automotive Parts Co., Ltd., TI Automotive Ltd., Kautex Textron GmbH & Co. KG, Yachiyo Industry Co., Ltd., Magna International Inc., and Compagnie Plastic Omnium SA.

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Additional Questions Answered

The automotive fuel tank market report answers additional questions including:

  • At what rate would sales of plastic automotive fuel tanks grow by end of the assessment period?
  • How much is the demand for an automotive fuel tank with the captain of 45-75L during 2017-2022?
  • Can OEM overwhelm the aftermarket channel with respect to sales of the automotive fuel tanks?
  • How will passenger cars contribute to the growth of the overall automotive fuel tank market during the assessment period?

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The report covers following Automotive Fuel Tank Market insights and assessment that are helpful for all participants involved in the Automotive Fuel Tank Market:

  • Data on recently introduced regulations and their impact on key industries and on demand in Fortified Wine Market
  • Latest industry Automotive Fuel Tank Market with key analysis of market drivers, trends, and influencing factors
  • Key trends Analysis of Automotive Fuel Tank Market and changing consumer preferences in major industries.
  • Changing Automotive Fuel Tank Market demand and consumption of diverse products
  • Major trends underlining funding by key investors in numerous countries
  • New investment opportunities in diverse technology and product or service types
  • Comprehensive data and Competitive analysis of Automotive Fuel Tank Market major players
  • Automotive Fuel Tank Market sales in US will grow at a steady pace, driven by growing consumer confidence and economic recovery
  • Automotive Fuel Tank Market demand forecast in Europe remains stable, as many countries such as UK, France, and Germany focus on boosting growth

For More Insights-

https://www.prnewswire.com/news-releases/demand-for-threaded-industrial-fasteners-growing-study-301258547.html

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