Asia-Pacific Fuel Tank Market, By Tank Capacity (Less Than 45 L, 45L -70L, and More Than 70L), Material Type (Plastic, Aluminum, Steel, Others), Weight (Less Than 7KG, 7KG to 10 KG, More Than 70KG), Fuel Type (LPG/CNG, Diesel, Gasoline), Propulsion Type (Natural Gas, Hydrogen, Internal Combustion Engine (ICE), Hybrid), Sales Channel (OEM, Aftermarket), Vehicle Type (Passenger Cars, Light Commercial Vehicle, Heavy Commercial Vehicle, Hybrid Vehicle), Country (China, India, Japan, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific) Industry Trends and Forecast to 2027
Fuel tank market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 5.7% in the forecast period of 2020 to 2027 and is expected to reach USD 8,110.82 million by 2027. The rising production of vehicle is the major factor driving the fuel tank market in the forecast period.
The rising disposable income in the developing economies and changes in the living standard has increase the demand for mini and medium segment cars such as Suzuki Swift, Hyundai i20, Renault Duster, and Hyundai Creta among others, this factor will drive the demand for fuel tank market. The growing concerns with respect to the environment and rigid controls have resulted in adoption of electric vehicles, this factor is expected to act as a restraint to the fuel tank market growth.
Steel automotive fuel tank still remains a perfect choice whereas the advantages of plastic fuel tanks such as light weight, no corrosion rate and others are creating opportunities for the fuel tank market. Due to the high cost of HDPE and LDPE materials, the cost of overall tank is increasing which is acting as a challenge for the growth in the fuel tank market.
This fuel tank market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the fuel tank market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Fuel tank market is segmented on the basis of tank capacity, material type, weight, fuel type, propulsion type, sales channel and vehicle type. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of tank capacity, the fuel tank market has been segmented into less than 45 l, 45l -70l and more than 70l. In 2020, less than 45 l segment has been accounted for the largest market due to the increasing demand of passenger vehicles.
- On the basis of material type, the fuel tank market has been segmented into plastic, aluminum, steel and others. In 2020, plastic segment has been accounted for the largest market share due to the growing concern of vehicle manufacturers towards weight reduction.
- On the basis of weight, the fuel tank market has been segmented into less than 7kg, 7kg to 10 kg, more than 70kg. In 2020, the rising demand for light weight vehicles has increase the demand for less than 7kg fuel tank in the region.
- On the basis of propulsion type, the fuel tank market has been segmented into natural gas, hydrogen, internal combustion engine (ICE) and hybrid. In 2020, the increasing production of passenger vehicle has increase the demand for internal combustion engine (ICE) segment in the region.
- On the basis of sales channel, the fuel tank market has been segmented into OEM and aftermarket. In 2020, the rising partnership among auto makers and manufacturers of fuel tank has attributed for large market size for OEM segment in the region.
- On the basis fuel type, the fuel tank market has been segmented into LPG/CNG, gasoline and diesel. In 2020, LPG/CNG segment has been accounted for the largest market share due to the rising government regulation towards emission.
- On the basis of vehicle type, the fuel tank market has been segmented into passenger cars, light commercial vehicle, heavy commercial vehicle, and hybrid vehicle. In 2020, the growing population and rising disposable income has increase the demand for passenger cars segment in the region.
Fuel Tank Market Country Level Analysis
Fuel tank market is analysed and market size information is provided by country, tank capacity, material type, weight, fuel type, propulsion type, sales channel and vehicle type as referenced above.
The countries covered in Asia-Pacific fuel tank market report are China, India, Japan, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, and rest of Asia-Pacific.
China has been accounted for the largest market share in Asia-Pacific fuel tank market due to growing production of vehicles in the country along with growing population in the region. This has resulted into the increasing demand for the fuel tank market.
The country section of the report also provides individual fuel tank market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Stringent Government Regulations and Emission Standards in the Asia-Pacific Fuel Tank Market
Fuel tank market also provides you with detailed market analysis for every country growth in industry with sales, components sales, impact of technological development in fuel tank and changes in regulatory scenarios with their support for the fuel tank market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Fuel Tank Market Share Analysis
Fuel tank market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to fuel tank market.
The major players covered in the Asia-Pacific fuel tank market report are TI Fluid Systems, Yachiyo Industry Co., Ltd., Magna International Inc., Plastic Omnium, Unipres Corporation, Kautex (a subsidiary of Textron Inc.), ContiTech AG (a subsidiary of Continental AG), FTS CO.,LTD., SRD HOLDINGS Ltd., Hwashin, DALI & SAMIR ENGINEERING PVT. LTD., Bellsonica Corporation, Crefact Corporation, A. KAYSER AUTOMOTIVE SYSTEMS GmbH, PIOLAX, Inc. among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product developments are also initiated by the companies worldwide which are also accelerating the growth of fuel tank market.
- In January 2018, TI Fluid Systems announced the product partnership with Karma Automotive. Through this partnership, the TI Fluid Systems provided blowmolded plastic fuel tanks for Karma Automotive’s luxury electric vehicle program. This technology allowed the low weight plastic tanks to handle the high vapour pressures that were created in extended range of electric vehicles (EREVs). This partnership has helped the company to generate more revenue.
Partnership, acquisition and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for fuel tank.
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.