PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1621729
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1621729
Automotive Fuel Tank Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 - 2032
The Global Automotive Fuel Tank Market reached USD 17.6 billion in 2023 and is anticipated to grow at a CAGR of 4.7% between 2024 and 2032. The automotive industry's growth, especially in emerging markets, is driving demand for fuel tanks fueled by increased vehicle production. Factors such as rising disposable incomes, urbanization, and improved infrastructure in developing countries are contributing to this growth. Additionally, the expansion of ride-sharing services and fleet operations is further elevating vehicle production, boosting the need for fuel tanks. Stricter global emissions standards aimed at reducing air pollution and combating climate change are significantly influencing fuel tank design and manufacturing processes.
Modern fuel tanks are being developed with advanced sealing systems and vapor management technologies to control evaporative emissions. This regulatory push is leading manufacturers to invest in research and development for low-emission fuel tanks. Emerging markets are also seeing a growing adoption of these advanced systems, aligning with international environmental standards. As emissions regulations become more stringent, the automotive fuel tank industry is evolving with new opportunities for innovation in low-emission technology.
In terms of capacity, the 45-70 liter segment dominated the market, holding over 55% of the share in 2023, is projected to surpass USD 13 billion by 2032. Consumers continue to prioritize vehicle range when purchasing vehicles, with this fuel tank capacity offering a balance between extended range and vehicle size. This segment provides enough fuel for long highway trips without significantly affecting the vehicle's weight or interior space. As fuel efficiency improves, tanks within this size range are expected to offer an even greater driving range, making them more appealing to consumers. On the material front, plastic fuel tanks are set to exceed USD 18 billion by 2032. Automakers are increasingly focused on reducing vehicle weight to improve fuel efficiency and meet emissions standards.
| Market Scope | |
|---|---|
| Start Year | 2023 |
| Forecast Year | 2024-2032 |
| Start Value | $17.6 Billion |
| Forecast Value | $26.3 Billion |
| CAGR | 4.7% |
Plastic fuel tanks, which are lighter than metal alternatives, contribute significantly to this goal. This trend is particularly prominent in vehicle segments such as compact cars, SUVs, and commercial vehicles. Additionally, plastic allows for more flexible design options, enabling the integration of complex shapes and components into fuel tank designs. China accounted for more than 40% of the automotive fuel tank market in 2023. Despite the rise of electric vehicles, internal combustion engine vehicles remain a key segment in China.
Manufacturers are developing advanced fuel tanks using high-density polyethylene (HDPE) and metal-plastic hybrids to meet stringent fuel economy and emissions regulations, further driving market growth.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Research design
- 1.1.1 Research approach
- 1.1.2 Data collection methods
- 1.2 Base estimates and calculations
- 1.2.1 Base year calculation
- 1.2.2 Key trends for market estimates
- 1.3 Forecast model
- 1.4 Primary research & validation
- 1.4.1 Primary sources
- 1.4.2 Data mining sources
- 1.5 Market definitions
Chapter 2 Executive Summary
- 2.1 Industry 360° synopsis, 2021 - 2032
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.2 Supplier landscape
- 3.2.1 Raw material suppliers
- 3.2.2 Automotive OEM
- 3.2.3 Fuel tank manufacturers
- 3.2.4 Technology integrators
- 3.2.5 End users
- 3.3 Profit margin analysis
- 3.4 Technology differentiators
- 3.4.1 AI in fuel tank design
- 3.4.2 Noise reduction technologies
- 3.4.3 Multi-layer fuel tank designs
- 3.4.4 Advanced manufacturing technologies
- 3.4.5 Others
- 3.5 Key news & initiatives
- 3.6 Regulatory landscape
- 3.7 Impact forces
- 3.7.1 Growth drivers
- 3.7.1.1 Increasing global vehicle production
- 3.7.1.2 Growing focus on vehicle weight reduction
- 3.7.1.3 Increasing adoption of alternate fuel vehicles
- 3.7.1.4 Advancements in fuel tank design
- 3.7.2 Industry pitfalls & challenges
- 3.7.2.1 Growing shift towards electric vehicles
- 3.7.2.2 Fuel compatibility issues
- 3.7.1 Growth drivers
- 3.8 Growth potential analysis
- 3.9 Porter's analysis
- 3.10 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
- 4.1 Introduction
- 4.2 Company market share analysis
- 4.3 Competitive positioning matrix
- 4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Capacity, 2021 - 2032 ($Bn, Units)
- 5.1 Key trends
- 5.2 Less than 45 liters
- 5.3 45-70 liters
- 5.4 More than 70 liters
Chapter 6 Market Estimates & Forecast, By Material, 2021 - 2032 ($Bn, Units)
- 6.1 Key trends
- 6.2 Plastic
- 6.3 Steel
- 6.4 Aluminium
- 6.5 Composite materials
Chapter 7 Market Estimates & Forecast, By Propulsion, 2021 - 2032 ($Bn, Units)
- 7.1 Key trends
- 7.2 Internal combustion engine
- 7.3 Hybrid
- 7.4 Compressed natural gas
- 7.5 Hydrogen
- 7.6 Others
Chapter 8 Market Estimates & Forecast, By Vehicle, 2021 - 2032 ($Bn, Units)
- 8.1 Key trends
- 8.2 Two-wheelers
- 8.3 Three-wheelers
- 8.4 Passenger cars
- 8.5 Commercial vehicle
Chapter 9 Market Estimates & Forecast, By Region, 2021 - 2032 ($Bn, Units)
- 9.1 Key trends
- 9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
- 9.3 Europe
- 9.3.1 UK
- 9.3.2 Germany
- 9.3.3 France
- 9.3.4 Spain
- 9.3.5 Italy
- 9.3.6 Russia
- 9.3.7 Nordics
- 9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 India
- 9.4.3 Japan
- 9.4.4 South Korea
- 9.4.5 ANZ
- 9.4.6 Southeast Asia
- 9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
- 9.5.3 Argentina
- 9.6 MEA
- 9.6.1 UAE
- 9.6.2 South Africa
- 9.6.3 Saudi Arabia
Chapter 10 Company Profiles
- 10.1 Aethra Automotive Systems
- 10.2 Alpha Racing
- 10.3 Donghee
- 10.4 Fuel Total Systems
- 10.5 Kautex
- 10.6 Magna International
- 10.7 Martinrea International
- 10.8 Motherson Yachiyo Automotive Systems
- 10.9 OPmobility
- 10.10 Rochling
- 10.11 SFS Group
- 10.12 SKH Group
- 10.13 SMA Serbatoi
- 10.14 SRD Holdings
- 10.15 Stako
- 10.16 Tata AutoComp Systems
- 10.17 TI Fluid Systems
- 10.18 Time Technoplast
- 10.19 Unipres Corporation
- 10.20 Yapp Automotive Systems (SDIC Group)
