The global automotive fuel tank
market is segmented into vehicle type such as passenger cars, heavy trucks,
buses & coaches and commercial vehicles. Among these segments, passenger
cars segment dominated the overall automotive fuel tank market in previous
years. The key reason behind the growth of this segment is increasing sales of
passenger cars across the globe. Furthermore, rising disposable income of the
consumers is increasing the sales of passenger cars which in turn likely to intensify
the automotive fuel tank market in upcoming years.
Global automotive fuel tank market
is expected to register a 5.5% CAGR over the forecast period. Moreover, the global
automotive fuel tank market is projected to reach at notable revenue of USD
17.6 Billion by the end of 2024. The market is expected to expand on the back
of growing automotive aftermarket across the globe. Furthermore, growing
advancements and development of innovative designs of automotive fuel tanks to
offer benefits such as reduced fuel consumption and improved mileage are likely
to garnish the growth of global
automotive fuel market in near future.
The plastic segment by material
type is witnessing substantial growth owing to its benefits such as low weight,
increased tank strength in crashes and others. Moreover, use of plastic
materials in car interiors, bumpers and other automotive parts such as
automotive fuel tank is key factor which is reducing the overall weight of
vehicles. Further, vehicle manufacturers are focusing towards light weight cars
to improve the fuel efficiency of vehicles.
Rising Sales of
Vehicles
Increasing sales of new vehicles across the globe
especially in developing countries such as India, China and Brazil is a major
factor which is augmenting the growth of global automotive fuel tank market.
For instance, new vehicle registration in China reached at 24,376,902 in 2017.
Source: International Organization of Motor Vehicle
Manufacturers
Changing Lifestyle
Rising disposable income and
changing lifestyle of middle class families are the dynamic factors behind augmented
demand for vehicles across the globe. Further, increasing number of vehicles on
the road is envisioned to drive the growth of global automotive market over the
forecast period.
However, high lifespan of automotive
fuel tanks and increasing sales of electric cars are some of the factors that
are likely to deter the growth of the automotive fuel tank market in the near
future.
The
report titled “Automotive Fuel Tank Market : Global
Demand Analysis & Opportunity Outlook 2024”
delivers
detailed overview of the global automotive fuel tank market in terms of market
segmentation by vehicle type, by material, by technology and by region.
Further,
for the in-depth analysis, the report encompasses the industry growth drivers, restraints,
supply and demand risk, market attractiveness, BPS analysis and Porter’s five
force model.
This report also provides the
existing competitive scenario of some of the key players of the global automotive
fuel tank market which includes company profiling of Kautex , Yachiyo Industry Co. Ltd., Tokyo Radiators Mfg. Co. Ltd.,
Hwashin Co. ltd., Inergy Automotive Systems, TI Automotive, Magne Steyr ,
Futaba Industrial, ArcelorMittal and Biosteel Group Corp. The profiling
enfolds key information of the companies which encompasses business overview,
products and services, key financials and recent news and developments. On the
whole, the report depicts detailed overview of the global automotive fuel tank market
that will help industry consultants, equipment manufacturers, existing players
searching for expansion opportunities, new players searching possibilities and
other stakeholders to align their market centric strategies according to the
ongoing and expected trends in the future.
About Research
Nester
Research Nester is a leading service provider for
strategic market research and consulting. We aim to provide unbiased,
unparalleled market insights and industry analysis to help industries,
conglomerates and executives to take wise decisions for their future marketing
strategy, expansion and investment etc. We believe every business can expand to
its new horizon, provided a right guidance at a right time is available through
strategic minds. Our out of box thinking helps our clients to take wise
decision so as to avoid future uncertainties.
Contact for more Info:
Ajay
Daniel
U.S.
+1 646 586 9123
U.K.
+44 203 608 5919
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