According to Technavio’s latest market research study, the global automotive fuel tank market is expected to grow at a CAGR of close to 4% during the forecast period, 2017-2021.
This report by Technavio provides an in-depth analysis of the global automotive fuel tank market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the product type
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Global automotive fuel tank market for passenger cars: The global automotive fuel tank market for passenger cars is led primarily by the APAC region owing to the increased sales of passenger cars in the region. The increasing purchasing power and social recognition associated with owning cars are the fundamental driving force behind the adoption of automotive fuel tanks for passenger cars.
“Increasing tax on consumption, automotive manufacturers, such as General Motors and Toyota, is resulting in reduced output in factories in Japan due to the decrease in the demand for cars. A majority of automotive OEMs are relocating their operations to other developing countries, such as India and China, to benefit from the relatively lower operational cost in these regions,” says Siddharth Jaiswal, a lead analyst at Technavio for research on automotive components.
Global automotive fuel tank market for LCVs: The growth in construction and inter-city activities involving transportation of man and materials is the fundamental driving force behind the growth of the global automotive fuel tank market for LCVs. According to the industry research analysts at Technavio, the increase in demand for pickup trucks for last-mile connectivity and transportation in cities is anticipated to propel the demand for automotive fuel tanks for LCVs in the global market over the next four years.
Global automotive fuel tank market for M&HCVs: The rise in the preference for transporting freight through roads is the key driving force behind the sales of M&HCVs. The increase in the sales of M&HCVs has a direct and positive impact on demand for automotive fuel tanks for M&HCVs. The US, China, and India are some of the key revenue contributing countries in the market.
The top vendors operating in the global automotive fuel tank market are:
- Continental
- TI Automotive
- Yachiyo Industry
- Magna international
Other prominent vendors in the market include AETHRA GROUP AUTOMOTIVE SYSTEMS, Allgaier Werke, Boyd Welding, Donghee, and FTS.
A more detailed analysis is available in the Technavio report titled, ‘Global Automotive Fuel Tank Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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