PUBLISHER: The Business Research Company | PRODUCT CODE: 1674320
PUBLISHER: The Business Research Company | PRODUCT CODE: 1674320
An automotive fuel tank is a secure container designed to store gasoline or diesel for vehicles, fulfilling essential roles like preventing leaks, enabling safe refueling, measuring fuel levels, and managing pressure through venting. It supplies fuel to the engine and is constructed from materials such as metal or plastic. Often, these tanks include advanced features like anti-slosh baffles and integrated fuel pumps, enhancing both safety and performance.
Automotive fuel tanks are categorized by their capacities into three main types such as less than 45 liters, 45-70 liters, and above 70 liters. Fuel tanks with a capacity of less than 45 liters are typically found in hatchbacks and sedans. These tanks are specifically classified based on their capacity, falling below the 45-liter threshold. The materials employed in manufacturing automotive fuel tanks include aluminum, plastic, and steel. These fuel tanks are utilized in various types of vehicles such as passenger cars, light commercial vehicles, and heavy commercial vehicles.
The automotive fuel tank market research report is one of a series of new reports from The Business Research Company that provides automotive fuel tank market statistics, including automotive fuel tank industry global market size, regional shares, competitors with an automotive fuel tank market share, detailed automotive fuel tank market segments, market trends and opportunities, and any further data you may need to thrive in the automotive fuel tank industry. This automotive fuel tank market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The automotive fuel tank market size has grown strongly in recent years. It will grow from $20.19 billion in 2024 to $21.67 billion in 2025 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to fuel efficiency standards, material advancements, emissions regulations, vehicle weight reduction, safety regulations, innovation in tank shapes.
The automotive fuel tank market size is expected to see strong growth in the next few years. It will grow to $28.94 billion in 2029 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to global expansion of automotive industry, cost-efficiency and manufacturing innovations, adaptation to changing automotive architectures, transition towards alternative fuels, innovations for enhanced safety. Major trends in the forecast period include smart fuel management solutions, adaptation to changing automotive architectures, transition to alternative fuel technologies, focus on lightweight designs, integration of advanced materials.
The rising demand for passenger cars has fueled growth in the automotive fuel tank market. Passenger cars, which have at least four wheels and are designed to carry passengers in addition to the driver, typically have no more than eight seats. The passenger car industry has experienced notable growth, with steady advancements in production, domestic sales, and exports. For example, according to a March 2024 report by the European Automobile Manufacturers Association (ACEA), a Belgium-based trade association, global new car sales saw nearly a 10% rise after remaining steady in 2022, with new car sales in the EU increasing by almost 14%, totaling 10.5 million units. Sales of battery-electric vehicles grew by 37%, capturing a 14.6% market share. Additionally, global car production reached 76 million units, reflecting a 10.2% rise. Consequently, the growing demand for passenger cars is driving the automotive fuel tank market.
The surge in motorcycle sales is also expected to boost growth in the automotive fuel tank market. Motorcycles, also known as motorbikes or simply bikes, are two-wheeled motor vehicles primarily used for transportation or recreational purposes. The automotive fuel tank is a critical component for engine operation, handling, design, and overall safety, making it essential for these versatile vehicles. For instance, according to the World Population Review in November 2023, a US-based organization, China exported motorcycles worth $12 billion, accounting for over a quarter of global motorcycle exports and significantly outpacing Germany's $3.3 billion in exports. Japan followed with $3.2 billion, while Thailand exported $3 billion. In the United States, approximately 550,000 motorcycles are projected to be sold in the coming year, generating around $6.24 billion in revenue. The market is expected to maintain its growth trajectory through 2027, with projected revenues reaching up to $168 billion. Therefore, the expansion of the e-commerce industry is supporting the growth of the automotive fuel tank market.
Technological advancements in fuel-efficient vehicles and alternate fuel vehicles represent a prominent trend gaining traction in the automotive fuel tank market. The evolving landscape of modern automobiles calls for advanced materials that can enhance fuel economy while maintaining optimal safety and performance standards. A key focus is on integrating lightweight materials, which have significant potential to improve vehicle efficiency by requiring less energy for acceleration. A 10% reduction in vehicle weight can result in a notable 6% to 8% increase in fuel economy. To achieve this, traditional materials such as cast iron and steel are being replaced with lightweight alternatives, including high-strength steel, magnesium (Mg) alloys, aluminum (Al) alloys, carbon fiber, and polymer composites. By incorporating such lightweight components and enabling high-efficiency engines through new materials, vehicles can experience a substantial reduction in weight-up to 50% for the body and chassis. This strategic shift not only contributes to fuel efficiency but also facilitates the incorporation of more complex pollution control systems, safety devices, and integrated electrical systems without increasing the overall weight of the vehicle. Projections indicate potential savings of over $5 billion gallons annually by 2030 in one-quarter of the US fleet through the adoption of these lightweight structural materials.
Leading companies in the automotive fuel tank market are focusing on developing innovative products, including plastic fuel tanks. These plastic fuel tanks are storage containers in vehicles made from plastic materials, serving as key components of the fuel system by storing and delivering fuel to the engine. For example, in March 2024, Eaton Corporation plc., a U.S.-based company specializing in electrical components, aerospace systems, mobility solutions, and data center power distribution, introduced its next-generation fuel tank isolation valve (FTIV) for hybrid vehicles. This valve is designed to regulate pressure within the fuel tank, especially during electric mode operation, and to ensure safe refueling by preventing spit-back. It plays a critical role in enhancing hybrid vehicle performance by reducing weight and size, making it more adaptable to various tank configurations. Additionally, the valve improves fuel efficiency and lowers emissions, meeting the increasing demand for hybrid technologies in the automotive sector.
In May 2022, Tank Holding, a leading US-based rotational molding company, successfully acquired Semco Plastic Company for an undisclosed sum. This acquisition aligns with Tank Holding's strategic initiative to invest in adjacent plastic processing technologies, aiming to enhance its product offerings for customers. Semco Plastic Company, based in the United States, is a manufacturer specializing in the production of blow and injection molded products, including fuel tanks, fuel containers, refuse containers, and various other items.
Major companies operating in the automotive fuel tank market include Continental AG, Magna International, Kautex Textron GmbH & Co. KG, Benteler International AG, The Plastic Omnium Group, Compagnie Plastic Omnium SA, Toyoda Gosei Co. Ltd., Martinrea International Inc., FUTABA INDUSTRIAL CO. LTD., Donghee Industrial CO. LTD., TI Fluid Systems, Boyd Welding, Unipres Corporation, Textron - KautexV (US), Yapp Automotive Parts Co. Ltd, Yachiyo Industries Co. Limited, Inergy Automotive Systems, Spectra Premium Inc., Fuel Total Systems (FTS) Co. Ltd, Unipres Corporation, SMA SERBATOI SPA, FTS INDIA PRIVATE LIMITED, Yeedah Composite Material Co. Ltd.
Asia-Pacific was the largest region in the automotive fuel tank market in 2024 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the automotive fuel tank market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the automotive fuel tank market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The automotive fuel tank market consists of sales of Type 1, Type 2, Type 3, and Type 4. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Automotive Fuel Tank Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automotive fuel tank market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automotive fuel tank ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The automotive fuel tank market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.