Global Plastic Fuel Tank Market: Size, Trends & Forecasts (2017-2021)
Scope of the Report
The report entitled “Global Plastic Fuel Tank Market: Size, Trends & Forecasts (2017-2021)”, provides a detailed analysis of the plastic fuel tank market with sizing and growth. The analysis includes plastic fuel tank market in terms of volume, market share by region and penetration of plastic fuel tanks across major regions worldwide. It also provides analysis of global fuel tank market in terms of value, volume and market share by segments.
Furthermore, the report also assesses the key opportunities available in the market and summarizes the dynamic forces that are and will be accountable for growth of the industry. Growth of the global plastic fuel tank market has also been forecasted for the period 2017-2021, taking into consideration previous growth outlines, growth drivers and the existing and forthcoming trends.
The global plastic fuel tank market is very stiff as more than half of the market share is dominated by three major players and a new entrant has to face lot of barriers to enter in the market. Plastic Omnium, Textron Inc. (Kautex), TI Fluid Systems, and Yachiyo Industry Co., Ltd. are some of the major players whose company profiling has been done in the report. This segment of the report summarizes business overview, financial overview and the business strategies adopted by respective companies. Plastic Omnium, Textron Inc. (Kautex), and TI Fluid System are the top three major players with a global presence in the market.
Plastic Omnium Textron Inc. (Kautex) TI Fluid Systems Yachiyo Industry Co., Ltd.
A fuel tank is a container which is used to store fuel or gasoline and is a part of engine system in an automobile or in aircraft. Depending on the types of automobiles/aircrafts, fuel tanks vary from size (small plastic tank) to complex ones (such as multi-chambered tank). Fuel tanks help in the evaporation of emission and avoid fuel leakage as well. The basic uses of fuel tanks are storage of fuel, feeding of engine, venting and fuel level detection.
On the basis of materials, fuel tanks are broadly categorized into two: metal tanks (steel/aluminium) and plastic tanks With the innovation in technology and stringent regulations by government on emissions, metal tanks are replaced by plastic tanks due to its several inherent advantages over metal fuel tanks.
The global plastic fuel tank market has shown upward trends over the past few years and projections are made that the market would grow at a significant CAGR over the next five years i.e. 2017 to 2021. Growing automobile production, rising per capita income in emerging economies, growing demand for fuel-efficient automobiles, government regulations on emission reduction and technological advancements are some of the major factors that would propel the growth of the industry. Yet, the growth of the market is hampered by some factors such as emerging alternative fuel, rising car sharing services, increasing use of public transportation etc. are declining the demand for plastic fuel tanks.