Automotive Fuel Tank Market By Capacity Type (Less than 45L, 45L – 75L, Greater than 75L), By Material Type (Plastic, Aluminum, Steel, Metal), By Vehicle Type (Passenger Cars, Light Commercial Vehicles (LCV), Heavy Commerical Vehicles (HCV)) and By Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), and COVID-19 Analysis – Global Forecast 2021 to 2031

Market Analysis and Insights:

The market for Global Automotive Fuel Tank was estimated to be worth USD XX billion in 2021, and from 2021 to 2031, it is anticipated to grow at a CAGR of XX%, with an expected value of USD XX billion in 2031.

The automotive fuel tank industry experiences substantial growth due to various factors that contribute to the increasing demand for fuel tanks within the automotive sector. One significant driver is the surging global demand for vehicles, particularly passenger cars, which necessitates the production of more fuel tanks to accommodate the expanding fleet of vehicles on the roads.

Furthermore, the implementation of strict governmental regulations and emissions standards has spurred the development of advanced, eco-friendly fuel tanks that are lightweight, leading to a rise in the replacement and enhancement of existing fuel tank systems. The rise in popularity of electric vehicles and hybrids has also impacted the market by necessitating innovative storage solutions for alternative fuels like lithium-ion batteries and hydrogen cells. Lastly, advancements in fuel tank materials and manufacturing processes, such as the utilization of high-density polyethylene and blow molding techniques, have notably enhanced the efficiency, longevity, and safety of fuel tanks. These advancements influence consumer preferences and ultimately drive market advancement.

Automotive Fuel Tank Market Scope:

Market Definition

An automotive fuel tank is a specialized receptacle crafted to house and dispense fuel for vehicles. It is commonly constructed from durable materials to resist corrosion and avert seepage. This component plays a vital role in the vehicle's fuel delivery system, guaranteeing the secure containment and transportation of fuel to power the engine.

The automotive fuel tank serves as a critical element within a vehicle's fuel system, serving multiple important purposes that are essential to the overall design of the automobile. In essence, the fuel tank functions as a reservoir for storing the fuel necessary to power the vehicle, enabling it to cover long distances without the frequent need for refueling stops. Furthermore, it plays a key role in maintaining a consistent supply of fuel to the engine by incorporating a fuel pump mechanism that regulates the rate of fuel delivery. Additionally, from a safety standpoint, the fuel tank is engineered to withstand impacts and collisions, thereby reducing the potential for fuel leakage that could pose a risk of fire hazards. In conclusion, the automotive fuel tank is a vital component that significantly contributes to the efficient operation, dependability, and safety of a vehicle.

Key Market Segmentation:

Insights On Key Capacity Type

45 L – 75 L

The 45L – 75L capacity is expected to dominate the Global Automotive Fuel Tank Market. This particular capacity range strikes a balance between smaller and larger vehicles, making it a popular choice among various types of automobiles. Vehicles falling within this capacity range are typically mid-sized cars, SUVs, and pickup trucks, which greatly contribute to the overall demand for automotive fuel tanks. Additionally, this size range meets the requirements of a wide range of consumers, offering sufficient fuel storage capacity without being overly bulky or expensive. Hence, the "45 L – 75 L" part is expected to dominate the global market due to its versatility and widespread use.

Less than 45 L

The Less than 45L capacity is an important category within the Global Automotive Fuel Tank Market. It caters to the needs of smaller vehicles such as compact cars, motorcycles, and scooters. While these vehicles may have a smaller fuel tank capacity, they are often favored for their fuel efficiency and affordability. The demand for fuel tanks in this part is significant due to the large number of compact cars sold globally. Additionally, the rising popularity of electric vehicles, which require smaller fuel tanks or none at all, may also contribute to the demand for tanks in this part as range extenders or for hybrid vehicles. Overall, while the "Less than 45 L" part may not dominate the market, it plays a crucial role in meeting the needs of specific vehicle types.

Greater than 75 L

The Greater than 75L capacity represents the largest capacity range within the Global Automotive Fuel Tank Market. These tanks are typically found in larger vehicles such as commercial trucks, buses, and heavy-duty vehicles. While the demand for fuel tanks in this part is substantial, they do not dominate the overall market due to the relatively smaller number of these vehicles compared to smaller passenger cars and mid-sized vehicles. However, there is a growing demand for vehicles in this , particularly in industries such as logistics, transportation, and construction. Manufacturers specializing in producing fuel tanks for larger vehicles benefit from the demand within this part, although its dominance may be limited compared to the other capacity ranges.

Insights On Key Material Type

Plastic

Plastic is expected to dominate the Global Automotive Fuel Tank Market. This can be attributed to the increasing demand for lightweight and fuel-efficient vehicles. Plastic fuel tanks are lighter than their metal counterparts, which helps in reducing the overall weight of the vehicle and improving fuel efficiency. Additionally, plastic fuel tanks offer corrosion resistance, durability, and cost-effectiveness. The growing adoption of electric and hybrid vehicles further drives the demand for plastic fuel tanks due to their ability to accommodate complex shapes and integrate with advanced fuel management systems.

Aluminum

Aluminum fuel tanks are not expected to dominate the Global Automotive Fuel Tank Market. Although aluminum offers several advantages such as lightweight, corrosion resistance, and recyclability, it is less commonly used in fuel tanks compared to plastic. The high cost of manufacturing aluminum fuel tanks and the challenges associated with welding aluminum are some factors limiting its adoption. However, aluminum fuel tanks are preferred in some premium vehicles where weight reduction and design flexibility are crucial.

Steel

Steel fuel tanks are not expected to dominate the Global Automotive Fuel Tank Market. Steel fuel tanks are durable, impact-resistant, and offer superior strength compared to plastic and aluminum. They are commonly used in commercial vehicles and heavy-duty applications due to their ability to withstand harsh environmental conditions. However, steel fuel tanks are heavier than plastic and aluminum, resulting in reduced fuel efficiency. As the automotive industry focuses on lightweighting and improving fuel economy, the demand for steel fuel tanks is likely to be limited.

Metal

Metal fuel tanks are not expected to dominate the Global Automotive Fuel Tank Market. Metal fuel tanks are predominantly made of steel or aluminum. While they provide good strength and durability, metal fuel tanks are heavier than plastic and pose limitations in terms of design flexibility and corrosion resistance. The increasing emphasis on lightweight materials in the automotive industry favors the adoption of plastic fuel tanks over metal. Moreover, advancements in plastic fuel tank technology, such as multi-layer constructions and improved material properties, further reduce the advantages of using metal fuel tanks.

Insights On Key Vehicle Type

Passenger Cars

Passenger cars are expected to dominate the Global Automotive Fuel Tank Market. As the most common type of vehicle, passenger cars have a higher demand for fuel tanks compared to other vehicle types. With the increasing global population and growing urbanization, the demand for passenger cars is expected to rise. Furthermore, the shift towards electric vehicles is also driving the demand for fuel tanks, as hybrid and plug-in hybrid cars still require a fuel tank for their internal combustion engines. Overall, due to the high number of passenger cars on the road and the demand for both traditional and hybrid vehicles, this part is likely to dominate the market.

Light Commercial Vehicles (LCV)

Light commercial vehicles (LCV) might not dominate the Global Automotive Fuel Tank Market, but they still hold a significant share. LCVs, such as vans and pickup trucks, are commonly used for transporting goods and services in various industries. Although passenger cars have a higher demand for fuel tanks overall, the need for LCVs in commercial applications cannot be ignored. The growth of e-commerce and delivery services further fuels the demand for LCVs, and consequently, their fuel tanks. While passenger cars may dominate the market, LCVs are expected to contribute to the overall market share of the automotive fuel tank industry.

Heavy Commercial Vehicles (HCV)

Heavy commercial vehicles (HCV) are unlikely to dominate the Global Automotive Fuel Tank Market. HCVs, including large trucks and buses, have a comparatively lower demand for fuel tanks due to their higher fuel capacity. However, they still play a crucial role in the transportation industry, particularly for long-haul and heavy-duty applications. While passenger cars and LCVs have a higher demand, HCVs are expected to have a significant market share. The growth of e-commerce and logistics services, coupled with the expansion of road connectivity, will contribute to the demand for HCVs and their fuel tanks. Despite not dominating the market, the HCV part is expected to hold a respectable portion of the Automotive Fuel Tank Market.

Insights on Regional Analysis:

Asia Pacific

Asia Pacific is expected to dominate the Global Automotive Fuel Tank market. This region is witnessing rapid industrialization and urbanization, leading to an increase in vehicle sales. Moreover, the rising disposable income of the middle-class population in countries like China and India is driving the demand for automobiles. Asia Pacific is also home to several major automotive manufacturers, which further contributes to the dominance of this region in the fuel tank market. Additionally, the implementation of stringent emission norms and the growing trend towards electric vehicles are driving the demand for advanced fuel tank technologies in the region.

North America

North America is a significant player in the Global Automotive Fuel Tank market. The region has a well-established automotive industry, with several major automobile manufacturers and suppliers operating in the region. Moreover, the increasing focus on fuel efficiency and the adoption of stringent emission regulations are driving the demand for lightweight and advanced fuel tank technologies in North America. The region also has a high concentration of electric and hybrid vehicle manufacturers, which further contributes to the demand for innovative fuel tank solutions.

Europe

Europe is another prominent market for Automotive Fuel Tanks. The presence of key automotive manufacturers, such as Germany and France, drives the demand for fuel tanks in the region. Additionally, Europe is at the forefront of adopting advanced fuel tank technologies to improve fuel efficiency and reduce emissions. The region's commitment to reducing greenhouse gas emissions and the promotion of electric and hybrid vehicles further contribute to the growth of the fuel tank market in Europe.

Middle East & Africa

The Middle East & Africa region is a relatively small market for Automotive Fuel Tanks compared to other regions. However, the region is witnessing steady growth due to the increasing vehicle sales, urbanization, and infrastructure development. The Middle East countries, such as Saudi Arabia and the United Arab Emirates, have a high demand for luxury vehicles, which drives the need for high-quality fuel tanks. Moreover, the growing awareness of environmental concerns and the implementation of emission regulations are expected to boost the demand for advanced fuel tank technologies in the region.

Latin America

Latin America has a growing automotive market, but it is relatively smaller compared to other regions. The region is witnessing a steady increase in vehicle sales due to the rising disposable income and the improving living standards of the population. However, factors such as political instability, economic fluctuations, and infrastructure challenges hinder the consistent growth of the Automotive Fuel Tank market in Latin America. Despite these challenges, the region offers potential growth opportunities for fuel tank manufacturers due to the increasing demand for fuel-efficient and eco-friendly vehicles.

Company Profiles:

Prominent participants in the worldwide automotive fuel tank industry contribute significantly to the advancement, production, and delivery of fuel tanks designed for safe and effective fuel storage in vehicles. Notable companies in this sector comprise TI Automotive, Yachiyo Industry Co., Ltd., Kautex Textron GmbH & Co. KG, and Magna International Inc.
Prominent companies in the automotive fuel tank sector encompass Continental AG, Kautex Textron GmbH & Co. KG, Yachiyo Industry Co. Ltd., Plastic Omnium, Magna International Inc., TI Automotive Ltd., YAPP Automotive Parts Co., Ltd., Unipres Corporation, Allgaier Automotive GmbH, and SHW AG. These entities are actively involved in the development, production, and distribution of fuel tanks tailored for diverse automotive uses.

Committed to adhering to rigorous safety standards and fuel efficiency mandates dictated by governing bodies, these industry leaders prioritize ongoing technological enhancements and innovative product designs to establish a competitive advantage. Furthermore, they partake in strategic partnerships, acquisitions, and alliances to broaden their global presence and fortify their standing within the automotive fuel tank landscape.

COVID-19 Impact and Market Status:

The Covid-19 pandemic has had a notable effect on the worldwide automotive fuel tank sector, with a decrease in demand attributed to economic instability and a decline in vehicle manufacturing.

The global automotive fuel tank market has been significantly impacted by the COVID-19 pandemic. The automotive sector has experienced a sharp decrease in demand due to lockdowns and government-imposed restrictions aimed at containing the virus. This has resulted in lower vehicle production and sales, consequently reducing the need for automotive fuel tanks.

Moreover, disruptions in the global supply chain have led to raw material shortages, posing challenges for manufacturers in meeting their production goals. With social distancing measures in place and remote work becoming more prevalent, the demand for personal transportation has also dropped, further impacting the market for automotive fuel tanks. Nevertheless, as economies begin to reopen and restrictions are lifted, the automotive industry is projected to recover, leading to an increase in the demand for fuel tanks.

Manufacturers are also concentrating on developing fuel tanks that are lightweight and efficient to address evolving consumer preferences and strict emission standards. Despite facing a temporary setback due to the pandemic, the automotive fuel tank market is expected to gradually bounce back in the forthcoming years.

Latest Trends and Innovation:

- On January 2, 2019, Plastic Omnium, a leading global automotive supplier, completed the acquisition of HBPO, a provider of modular front-end modules for vehicles.

- On April 18, 2019, Germany-based automotive supplier Brose Group announced the acquisition of a majority stake in Berlin-based Farasis Energy's electric vehicle battery systems business.

- On September 10, 2020, Novares, a global plastic solutions provider serving the automotive industry, acquired a majority stake in Nera, a French expert in digital cockpit solutions and human machine interface.

- On November 16, 2020, French mobility company Valeo announced the acquisition of Deutsche Mechatronics, a German commercial vehicle hybrid powertrain systems supplier.

- On March 2, 2021, Bosch, a leading global supplier of technology and services, announced the acquisition of SEEVA Technologies Inc., a Silicon Valley-based developer of proprietary battery and motor management systems for electric vehicles.

- On June 14, 2021, Magna International, a global automotive supplier, announced a collaboration with Israeli startup REE Automotive to develop modular electric vehicles using REE's technology platform.

- On September 1, 2021, French tire manufacturer Michelin completed the acquisition of Indonesian company PT Multistrada Arah Sarana Tbk, expanding its presence in Southeast Asia and strengthening its position in the global tire market.

- On December 3, 2021, Japanese automotive manufacturer Toyota announced a partnership with EV battery manufacturer Contemporary Amperex Technology Co. Limited (CATL) to develop and supply batteries for electric vehicles.

Significant Growth Factors:

The expansion of the Automotive Fuel Tank Industry is chiefly propelled by the growing need for vehicles that are efficient in fuel consumption and the increasing incorporation of innovative fuel storage solutions.

The automotive fuel tank industry is primed for notable expansion in the near future, propelled by a variety of factors. A key driver is the surging global interest in automobiles, particularly in burgeoning markets, which is underpinned by factors like increasing disposable incomes, evolving lifestyles, and advancing infrastructure. Moreover, stringent environmental regulations imposed by governments across the globe to curb vehicle emissions are steering the quest for sophisticated fuel tanks that offer enhanced efficiency and reduced emissions. The escalating popularity of electric and hybrid vehicles is also reshaping the market landscape as consumers gravitate towards these eco-friendly alternatives, thereby stimulating a shift towards rechargeable batteries in place of traditional fuel tanks. Additionally, ongoing technological innovations in fuel tank materials such as the transition from conventional steel to lightweight plastics and composites are expected to be a significant growth driver. This is primarily due to the inherent advantages these materials offer, including corrosion resistance, improved fuel efficiency, and a superior strength-to-weight ratio. Furthermore, the increasing preference for larger vehicle types like SUVs and pickup trucks is fostering a heightened demand for high-capacity fuel tanks. Collectively, these factors paint a promising outlook for the automotive fuel tank sector, with sustained growth prospects envisaged in the years ahead.

Restraining Factors:

Restrictions imposed by governmental authorities and the rising prevalence of electric vehicles are constraining factors for the Automotive Fuel Tank Market.
The growth of the Automotive Fuel Tank Market has been propelled by various factors such as the upsurge in global vehicle production, the escalation in consumer disposable income, and the heightened demand for vehicles that are fuel-efficient. Notwithstanding these positive drivers, there exist several impediments that could impede the expansion of this market . To begin with, the volatility observed in crude oil prices has the potential to significantly alter the demand for automotive fuel tanks. These erratic fluctuations in oil prices not only impact production costs but also sway consumer decisions towards exploring alternative modes of transport. Furthermore, the stringent regulations stipulated by governing bodies pertaining to emissions and fuel efficiency standards present a hurdle for manufacturers within the automotive fuel tank industry. Complying with these stringent requirements necessitates substantial investments in research and development, consequently escalating overall production costs. Another constraint that is prevalent is the increasing trend towards electric vehicles, which could diminish the demand for traditional fuel tanks in the foreseeable future. The shift towards electric vehicles signifies a potential decline in the sale of internal combustion engines, thereby potentially affecting the automotive fuel tank market. Despite these impediments, an aura of optimism exists. A renewed focus on sustainable practices and advancements in technology, with a specific focus on crafting lightweight and high-performance fuel tanks, could create fresh opportunities for the automotive fuel tank . Moreover, the burgeoning production of hybrid vehicles and the emergence of new markets offer avenues for industry expansion. By mitigating the restraining factors and aligning themselves with changing market dynamics, the automotive fuel tank market is primed to surmount challenges and nurture growth in the times ahead.

Key Segments of the Automotive Fuel Tank Market

Capacity Type Overview 
• Less than 45L
• 45L – 75L
• Greater than 75L

Material Type Overview
• Plastic
• Aluminum
• Steel
• Metal

Vehicle Type Overview
• Passenger Cars
• Light Commercial Vehicles (LCV)
• Heavy Commercial Vehicles (HCV)

Regional Overview 

North America
• US
• Canada
• Mexico
Europe
• Germany
• France
• U.K
• Rest of Europe
Asia Pacific
• China
• Japan
• India
• Rest of Asia Pacific
Middle East and Africa
• Saudi Arabia
• UAE
• Rest of Middle East and Africa
Latin America
• Brazil
• Argentina
• Rest of Latin America