Automotive Fuel Tank Market

Automotive Fuel Tank Market Analysis by Material Type (Ferroalloys, Aluminum Alloys, and Plastics); by Capacity (Less Than 45 Liters, Between 45-70 Liters, Above 70 Liters); and by Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Report ID: 528 | Published On: Nov 01, 2022

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Despite Inflation & Recession News, Businesses Across the Globe Expected to Do Better in 2023

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

In The News

  • 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.

Global Automotive Fuel Tank Market Highlights Over 2023 - 2033

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Key Questions Answered in the Report

1) What are the major factors driving the growth of the automotive fuel tank market?

Ans: Increasing sales of motor vehicles including cars and commercial vehicles along with rising demand for plastic fuel tanks are some of the major factors anticipated to drive the growth of the market.

2) What would be the CAGR of automotive fuel tank market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2023 – 2033.

3) What are the challenges affecting the automotive fuel tank market growth?

Ans: The possibility of the fuel tank’s deformation owing to its viscosity as well as corrosion, and scratches, of steel and aluminum fuel tanks, are some of the factors estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of automotive fuel tank market in future?

Ans: The market in Asia Pacific is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

5) Who are the major players dominating the automotive fuel tank market?

Ans: The major players in the market are Toyoda Gosei Co., Ltd., TI Fluid Systems plc, Compagnie Plastic Omnium SE, Yachiyo Industry Co., Ltd., Benteler International AG, and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the automotive fuel tank market?

Ans: The market is segmented by material type, capacity, vehicle type, and by region.

8) Which segment captures the largest market size in material type segment in the automotive fuel tank market?

Ans: The plastic segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

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