Automotive Fuel Tank Market Outlook:
Automotive Fuel Tank Market size was valued at USD 19.65 billion in 2024 and is set to exceed USD 29.94 billion by 2034, registering over 4.3% CAGR during the forecast period i.e., between 2025-2034. In the year 2025, the industry size of automotive fuel tank is evaluated at USD 20.37 billion.
Key Automotive Fuel Tank Market Insights Summary:
Asia Pacific region is projected to dominate the automotive fuel tank market share by 2034.
Plastics segment is set to capture the leading portion of the market by the end of 2034.
Key Growth Drivers:
- Growing Demand for Plastic Tanks
- Increasing Penetration of Cars
Key Players:
- Toyoda Gosei Co., Ltd., TI Fluid Systems plc, Compagnie Plastic Omnium SE, Yachiyo Industry Co., Ltd., Benteler International AG, Unipres Corporation, Kautex Textron GmbH & Co. KG, Magna International Inc., Visteon Corporation, Yapp Automotive Systems Co., Ltd.
Market Size and Growth Projections:
- 2024 Market Size: USD 19.65 billion
- 2025 Market Size: USD 20.37 billion
- Projected Market Size: USD 29.94 billion by 2034
- Growth Forecasts: 4.3% CAGR (2025-2034)
- Largest Region: Asia Pacific
- Fastest Growing Region: Asia Pacific
The market growth can be ascribed to growing demand for vehicles along with the rising demand for automotive fuel tanks amongst vehicle manufacturers worldwide. For instance, the global sales of vehicles in 2021 reached more than 82 million.
An automotive fuel tank is an important component of the fuel system in an internal combustion engine. A tank is used to store motor fuel such as petrol, diesel, and gas. The present-day fuel tanks can be made of different advanced materials. With the recent transition in plastic fuel tanks as well as temperature tolerance, the demand for the plastic fuel tank is on the rise amongst automobile users, which in turn, is expected to create massive revenue generation opportunities for the key players operating in the market.
Automotive Fuel Tank Market Growth Drivers and Challenges:
Growth Drivers
- Growing Demand for Plastic Tanks – as many automotive fuel tanks are made of laminated plastic with a barrier layer plastic that has become the main material used by manufacturers of fuel tanks. For instance, as per 2019 statistics, in Europe, and United States, 90% and 75% of all fuel tanks are made of plastic. The rising demand for plastic fuel tanks is expected to boost the automotive fuel tank market in the projected time period.
- Increasing Penetration of Cars – for instance, globally car sales grew to over 65 million automobiles in 2021.
- Rising Sales of Commercial Vehicles – which were found to be more than 26 million in 2021.
- Domination of Gasoline Powered Vehicles – for instance, in the United States, the gasoline station sector recorded a gross output of about USD 101 billion in 2020.
Challenges
- Possibility of the Fuel Tank is Deformation Owing to its Viscosity
- Concern about Exposure of Steel and Aluminum Fuel Tanks to Temperature and Corrosion
- Concern about Developing Efficient & Affordable Tanks
Automotive Fuel Tank Market Size and Forecast:
| Report Attribute | Details |
|---|---|
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Base Year |
2024 |
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Forecast Year |
2025-2034 |
|
CAGR |
4.3% |
|
Base Year Market Size (2024) |
USD 19.65 billion |
|
Forecast Year Market Size (2034) |
USD 29.94 billion |
|
Regional Scope |
|
Automotive Fuel Tank Market Segmentation:
Material Type Segment Analysis
The plastics segment is poised to garner majority automotive fuel tank market share by the end of 2034, backed by growing penetration of plastic fuel tanks owing to a variety of forms and configurations and easy installation along with surge in the sales of trucks worldwide. For instance, in 2020, more than 2.5 million trucks were sold in United States.
Our in-depth analysis of the global automotive fuel tank market includes the following segments:
|
By Material Type |
|
|
By Capacity |
|
|
By Vehicle Type |
|
Vishnu Nair
Head - Global Business DevelopmentCustomize this report to your requirements — connect with our consultant for personalized insights and options.
Automotive Fuel Tank Market Regional Analysis:
The Asia Pacific region is expected to hold largest market share by the end of 2034, backed by presence of a strong automobile network in the region, increasing sale of vehicles as well as the growing production of vehicles, along with surge in the demand for automotive fuel tanks amongst the vehicle producers. China produced and sold more than 2.6 million vehicles and around 2.6 million vehicles, respectively in September 2022.
Key Automotive Fuel Tank Market Players:
- Toyoda Gosei Co., Ltd.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- TI Fluid Systems plc
- Compagnie Plastic Omnium SE
- Yachiyo Industry Co., Ltd.
- Benteler International AG
- Unipres Corporation
- Kautex Textron GmbH & Co. KG
- Magna International Inc.
- Visteon Corporation
- Yapp Automotive Systems Co., Ltd.
Recent Developments
- Toyoda Gosei Co., Ltd. - contributed to lighter vehicle weight by developing a cutoff valve with a novel structure. The cutoff valve was used on the new Land Cruiser from Toyota Motor Corporation.
- TI Fluid Systems plc - announced that it will supply the thermal coolant fluid carrying systems for the new 2021 Jeep Wrangler 4xe plug-in hybrid.
- Report ID: 528
- Published Date: Jun 13, 2025
- Report Format: PDF, PPT
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