Automotive fuel tank Market will Generate New Growth Opportunities By 2016 - 2024
Due to the increase in vehicle production, there has been a growing demand of automotive fuel tank market. Automotive fuel tank is a part of an engine system where the fuel is stored in a given quantity, and released in the form of pressurized gas into the engine of a car. Automotive fuel tanks avoid fuel leakage and evaporate emissions in a limited manner that varies in design, size, and capacity, depending on the types of vehicles. Fuel tank varies from size (such as small plastic tank) to complexity (multi-chamber tank). Fuel tanks are made up of materials such as plastic, and steel, where plastic fuel tanks are constructed by means of blow molding, and aluminum or steel fuel tanks are made by stamped sheets. Fuel tank is put to various uses such as fuel storage, fuel level detection, secured filling, and venting.
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Rise in demand of vehicle production increases the demand for automotive fuel tanks. Plastic fuel tanks are mainly light in weight and used in passenger cars. Thus, rise in demand of passenger cars simultaneously increases the demand for plastic fuel tanks. Increase in the production of environmental friendly fuel tanks also act as a driver generating demand in this market. Heavy weight, packaging, high cost, safety, and permeability are considered as restraining factors to the growth of the automotive steel fuel tank market.
The expansion of vehicle production, increase in living standard, and disposable income, particularly in BRICS region, further propelled the future growth in this automotive fuel tank market.
Plastic tank, and metal fuel tank are the two types of automotive fuel tanks. Plastic fuel tanks are used in sports-utility vehicles (SUV), multi-purpose vehicle (MPV), and sedans whereas metal fuel tank are used in cross-passenger vehicles, and commercial vehicles. On the basis of technology, fuel tank are mainly three types such as multilayer technology, barrier technology and others. On the basis of materials, fuel tanks are three types such as high density polyethylene (HDPE), steel, and aluminum. High density polyethylene (HDPE) tank is one type of fuel tank that resists high corrosion, fire, and assure greater fuel capacities. On the basis of capacity, automotive fuel tank market is segmented into less than 45L, 45L-75L, and greater than 75L. In the global market of passenger cars, demand for automotive fuel tank of 45L-75L increases due to rise in demand for multi-utility vehicles and sports-utility vehicles.
Automotive fuel tanks are used in passenger cars, light commercial vehicles and heavy commercial vehicles.
On the basis of geography, the global automotive fuel tank market is subdivided into Europe, North-America, Asia-Pacific, and Rest of the world. Europe and North America have announced inflexible evaporative emission standards which increases the demand for plastic fuel tanks in those regions. Asia- Pacific region holds the largest market share in the automotive fuel market and the leading contributor is China (the major consumer and producer of automobiles in global market) and others contributors belong from Japan, South-Korea, and India. India appears to be an emerging country for automotive fuel tank market whereas Japan and South-Korea ensure well-established markets in this sector.
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Major key vendors of the market are Continental, Kautex, Lyondell Basell, Magna, TI Automotive Inc, and Yachiyo, and other vendors such as Aethra, Allgaier Automotive, Boyd Welding, Dali and Samir Engineering, Donghee, FTS, Fuel Systems, Kautex Textron, Magna Fuel Systems, Manchester Tank, Martinrea International, Munjal Auto Industries, Plastic Omnium, Rasandik, Robertson Fuel Systems, Spectra Premium, Tanks, Unipres, VITEC, Walbro, YAPP Automotive Parts, Baosteel group corporation, Toyota motors, Hyundai motors, BMW(Germany), Posco co. Ltd, Japan automotive manufacturers association (JAMA), European automobile manufacturers association (ACEA),Society of Indian automotive manufacturers (SIAM) and others.
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