Global Automotive Fuel Tank Market - Analysis of Growth, Trends Progress and Challenges (2015-2020)
The 2016 Grand Cherokee features a 93-liter fuel tank, which means a potential range of over 1200 km. Range of a Vehicle, has become a vital consideration for car buyers, especially for those consumers who drive outside of the city confines regularly. Most consumers in addition to higher fuel efficiency figures are now demanding bigger fuel tanks, in order to increase the range. A high range reduces the visits to the gas station, which the consumers today prefer. Manufacturers are rapidly increasing the fuel tank size of their cars. The Automotive Fuel Tank Market is expected to grow at a CAGR of 7.68% and grow to a market size of $ X.XX billion by the year 2020.
Technologies from the Aviation sector like the Self Sealing Fuel Tank technology are slowly seeping into the Automotive Sector. In Case of leakage, the fuel goes into the layers, which causes the layers to swell and the damaged part repairs itself. The New Range Rover Sentinel features this technology, which is expected to slowly feature in automobiles of the future.
The maximum rate of growth will be seen in the 45l-70l capacity tanks, on account of upsizing of the fuel tank capacities in 4 wheelers. The up to 45 l capacity fuel tanks cover the 2 wheeler market and the budget hatchbacks, especially in the emerging markets. In the developing nations, small hatchbacks feature small engines and low capacity fuel tanks with capacity of below 45 liter. One of the largest selling hatchbacks in the world, the Maruti Suzuki Alto 800, features a fuel tank of just 35 liters. Also majority of the 2 wheelers on sale in the emerging markets feature fuel tanks below the capacity of 15 liters. The up to 45-liter fuel tank capacity market forms a very sizeable category in the emerging countries.
Asia Pacific region is the largest market for automobiles in the world, and will lead the growth in the Automotive Fuel Tank Market going into the future. The region despite the sluggish growth in the Chinese market, which is the largest automobile market in the world, will lead the growth in the automotive fuel tank market. Europe will be one of the fastest growing markets in the above 70-liter fuel tank capacity, as all the heavy commercial vehicles feature fuel tanks above 70 liters, and their sales are expected to grow significantly in the forecast period.
Magna International, Plastic Omnium Group, TI Automotive are some of the important players in the Automotive Fuel tank Market. The market has been segmented by Capacity (Up to 45 Liters, 45-70 liters, 70 liters+), by material (Plastic, Aluminum, Steel, Others) and by Geography (North America, South America, Europe, Middle East & Africa and Asia Pacific).
What the report offers
Market analysis of Automotive Fuel tank Market specific assessments and competition analysis on global and regional scales Market definition along with the identification of key drivers and restraints Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale Extensively researched competitive landscape section with profiles of major companies along with their market shares Identification and analysis of the macro and micro factors that affect the Automotive Fuel tank Market on both global and regional scales A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market Insights on the major countries in which this industry is blooming and to also identify the regions that are still untapped
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