- The demand for lightweight fuel tanks is escalating due to the automotive industry's emphasis on fuel efficiency and emissions compliance. Materials such as plastics, composites, and aluminum are gaining traction for their weight-saving properties
- For instance, the adoption of composite fuel tanks in electric vehicles contributes to extended driving ranges and improved energy efficiency, aligning with environmental regulations
- U.S. dominated the fuel tank market with the largest revenue share of 65.23% in 2024, fueled by the strong presence of leading automakers, high consumer demand for fuel-efficient vehicles, and a robust aftermarket for vehicle components
- Canada’s fuel tank market is witnessing fastest growth, supported by rising vehicle ownership rates and the increasing preference for eco-friendly, lightweight materials in automotive manufacturing
- The 45L - 70L segment dominated the fuel tank market with the largest market revenue share of 46.5% in 2024, driven by its widespread usage in compact cars, sedans, and light commercial vehicles. The standard capacity of 45L - 70L strikes a balance between range and vehicle weight, making it ideal for daily urban commuting and fuel efficiency
