Europe 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 7 Kg, 7 to 10 Kg, More Than 70 Kg), 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 (U.K., Germany, France, Spain, Italy, Netherlands, Switzerland, Russia, Belgium, Hungary, Turkey and Rest of Europe) Industry Trends and Forecast to 2027
The 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 the CAGR of 4.1% in the forecast period of 2020 to 2027 and is expected to reach USD 199.65 million by 2027. The reduction in vehicle weight leading to advancements of materials is one of the prominent factors that drive the growth of the fuel tank market.
A fuel tank is an automotive portion that's utilized to store the flammable fuel within the shape of fluid or gas for capacity purposes and in this way providing the motor with the fuel for its operation in pressurized shape. These fuel tanks are based on feasible and solid crude materials so that they can survive the unpleasant and extreme utilization without spilling or lessening their general performance.
The rising disposable income in the developing economies and changes in the living standard has increased 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.
The 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, 7 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.
Europe 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 Europe fuel tank market report are U.K., Germany, France, Spain, Italy, Netherlands, Switzerland, Russia, Belgium, Turkey and rest of Europe.
Germany is expected to dominate the Europe fuel tank market with the highest market share as the private players are heavily investing in improving fuel plants of variable capacities in which less than 45 l is in high demand. Additionally, they are also acquiring or taking over small sized companies to gain market share. The U.K. is expected to dominate the Europe fuel tank market after Germany as the government is heavily investing in oil wells and trying to increase their production with increase in tank capacity. They are also focusing on oil wells to meet their energy demands. France is expected to dominate the Europe fuel tank market after the U.K. and Germany as they are proactively researching and developing so as to implement the technology which can be used in other marine applications.
The country section of the report also provides individual 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 Europe 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.
Rising Global Marine Trade and Marine Traffic
The 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 2011 to 2019.
Competitive Landscape and Fuel Tank Market Share Analysis
The 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, Europe 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 Europe fuel tank market.
The major players covered in the Europe 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), SMA Serbatoi SpA, Elkamet Kunststofftechnik GmbH, Salzburger Aluminium Group, Central Precision Limited, Arrow Radiators (Melksham) Ltd, A. KAYSER AUTOMOTIVE SYSTEMS GmbH and 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 November 2019, Plastic Omnium won a contract from a German car company for the improvement of 350-bar hydrogen tanks. Through this contract, the company involved the supply of equipment for buses and it was said to be the largest project in Europe for this type of vehicle. This contract has helped the company to gain more revenue
Production expansion, new product development 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.
Customization Available: Europe Fuel Tank Market
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