World Automotive Fuel Tank Industry Outlook, 2027 - Efforts to Build Economical Fuel Tanks Using Lightweight Materials Presents Opportunities

DUBLIN, March 2, 2020 /PRNewswire/ -- The "Automotive Fuel Tank Market by Capacity (<_5 l_="l_" _5="_5" l-70="l-70" l="l">70 L), Material (Aluminium, Plastic & Steel), SCR Technology, CNG Tank Type (Type 1, Type 2, Type 3 & Type 4), Propulsion Type (Hybrid, Hydrogen, ICE & NGV) and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The global automotive fuel tank market is estimated to be USD 20.5 billion in 2020 and is projected to reach USD 27.4 billion by 2027, at a CAGR of 4.2%. The Plastic Omnium Group, Textron (Kautex), Yapp, TI Fluids Systems, and Yachiyo are the leading players in the automotive fuel tank market.

Government push for lightweight vehicles is likely to drive the automotive fuel tank market

The market is driven by the increasing production of passenger and commercial vehicles, rising demand for lightweight vehicles for a longer driving range, government support for alternative fuel vehicles, stringent emission norms that require minimum greenhouse gas emissions, and government initiatives pertaining to hydrogen infrastructure.

Several governments have increased investments to promote the use of lightweight vehicles. Also, governments are increasingly investing in the development of fuel-efficient vehicles and alternative fuel vehicles.

On the other hand, the growing demand for electric vehicles that do not require fuel tanks and high cost of lightweight composite fuel tanks can restrain the growth of the market. Also, the rising stringency of evaporative emission standards that require fuel tank manufacturers to reduce the permeability of fuel tanks can hamper the growth of the automotive fuel tank market.

The Type 4 CNG tank is projected to be the fastest-growing segment of the automotive fuel tank market, by CNG Tank Type, during the forecast period

CNG vehicles are similar to gasoline or diesel vehicles in terms of power, acceleration, and cruising speed. CNG has stored onboard a vehicle in a compressed gaseous state within cylinders at a pressure of 3,000-3,600 pounds per square inch. The tanks are basically of four types including Type 1, Type 2, Type 3, and Type 4 and come in different sizes depending on the specific requirements of the vehicle.

Recently, Hermes UK added 48 new CNG trucks to its fleet and now runs one of the largest natural gas vehicle fleets in the UK. According to NGV Journal, almost 85 countries across the globe use CNG-powered vehicles with more than 22.4 million vehicles and 25,000 fueling stations spread across 2,900 cities worldwide.

CNG-powered vehicles are primarily used for public transport applications. Type 1 Tanks are more economical than other tank types and thus have the largest market. Type 4 tanks are lightweight and have the fastest growing market. These tanks are used in HDVs. Owing to the lightweight of the fuel tank, vehicles equipped with Type 4 tanks have a better fuel efficiency.

Asia Oceania to be the largest market for Selective Catalytic Reduction (SCR) Tank segment of the automotive fuel tank market

Due to the increasing production of LCVs in countries such as India, Japan, and Thailand to meet the growing requirement of freight and goods transport, Asia Oceania is estimated to be the largest market for automotive SCR tank. Stringent regulations have compelled OEMs to provide factory-fitted SCR systems in light and heavy commercial vehicles.

The SCR system controls the production of NOx from diesel engines while enabling engine manufacturers to minimize PM emissions and optimize fuel consumption. Adhering to the Euro VI regulations that dictate the limits for PM and NOx emissions from passenger cars and commercial vehicles is a pressing challenge for engine and vehicle manufacturers.

According to the Diesel Technology Forum, SCR is one of the most cost-effective and fuel-efficient technologies available for emission reduction. It can reduce NOx emissions by up to 90%, hydrocarbon and CO emissions by 50-90%, and PM emissions by 30-50%.

Asia Oceania is projected to have the highest share in the global automotive fuel tank market

Asia Oceania is the largest automobile producer, given the increasing demand for passenger vehicles in countries such as China, India, Japan, and South Korea. China is the largest manufacturer of vehicles in the world. India's commercial vehicle market has been growing rapidly and contributes a significant share of the national GDP.

As of 2020, the adoption of plastic fuel tanks in the Indian and Chinese automotive markets is estimated to be low. However, it is projected to increase rapidly in the future. In recent years, the automotive industry in Asia Oceania has witnessed a significant increase in vehicle production and sales.

The total number of commercial vehicles produced increased by 6.3%. Increased vehicle production is expected to boost the automotive fuel tank market in the Asia Oceania region during the forecast period.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Automotive Fuel Tank Market
4.2 Automotive Fuel Tank Market, By Region
4.3 Asia Oceania Automotive Fuel Tank Market, By Capacity Type & Country
4.4 SCR Tank Market, By Region
4.5 CNG Fuel Tank Market, By Type
4.6 Automotive Fuel Tank Market, By Propulsion Type

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Vehicle Production Volume
5.2.1.2 Reduction in Vehicle Weight Leading to Advancements of Materials
5.2.2 Restraints
5.2.2.1 Impact of Electric Vehicle Production
5.2.2.2 Stringent Evaporative Emission Standards
5.2.3 Opportunities
5.2.3.1 Efforts to Build Economical Fuel Tanks Using Lightweight Materials
5.2.4 Challenges
5.2.4.1 High Cost of Composite Tanks and Regulatory Approvals
5.2.4.2 Regulations Pertaining to Recycling of Shredded Fuel Tank Plastics
5.3 Automotive Fuel Tank Market, Scenarios (2019-2027)
5.3.1 Automotive Fuel Tank Market, Most Likely Scenario
5.3.2 Automotive Fuel Tank Market, Optimistic Scenario
5.3.3 Automotive Fuel Tank Market, Pessimistic Scenario

6 Industry Trends
6.1 Porter's 5 Forces
6.2 Value Chain Analysis
6.3 Macro Indicator Analysis
6.3.1 Introduction
6.3.2 Macro Indicators Influencing the Automotive Fuel Tank Market for Top 3 Countries
6.3.2.1 United States
6.3.2.2 Germany
6.3.2.3 China

7 Automotive Fuel Tank Market, By Material
7.1 Introduction
7.2 Research Methodology
7.3 Plastic
7.3.1 Plastic Tanks to Lead the Market Due to Light Weight Advantages Over Metal Tanks
7.4 Steel
7.4.1 Market for Steel is Expected to Decline Due to Use of Light Weight Material
7.5 Aluminum
7.5.1 Aluminium to Be the Largest Used Material in Commercial Vehicles
7.6 Key Industry Insights

8 Automotive Fuel Tank Market, By Capacity
8.1 Introduction
8.2 Research Methodology
8.3 <_5 />8.3.1 Increasing Production of Mini Passenger Cars in India and Japan to Drive the <_5l segment="segment" in="in" asia="asia" />8.4 45-70 Liters
8.4.1 Increasing Suv Adoption in US and Canada to Drive the 45-70L Segment in North America
8.5 >70 Liters
8.5.1 High Truck, Bus, and LCV Production in Asia Oceania to Fuel the >70L Segment
8.6 Key Industry Insights

9 Automotive Selective Catalytic Reduction (SCR) Tank Market, By Region and Vehicle Type
9.1 Introduction
9.2 Research Methodology
9.3 Asia Oceania
9.3.1 High Production of Diesel Powered Vehicles in the Region is Expected to Drive the Market
9.4 Europe
9.4.1 Decreasing Adoption of Diesel Passenger Cars Will have Significant Impact on the Market
9.5 North America
9.5.1 Increasing Adoption of Diesel-Powered SUVS and Pickups to Boost the Market
9.6 RoW
9.6.1 Passenger Car Segment is Projected to Be the Fastest
9.7 Key Industry Insights

10 Automotive CNG Tank Market, By Type
10.1 Introduction
10.2 Research Methodology
10.3 Type 1
10.3.1 High Demand for CNG Vehicles in Countries Like India to Drive Type 1 Segment
10.4 Type 2
10.4.1 Balance Between Cost and Weight Provided to Drive Type 2 Market
10.5 Type 3
10.5.1 Growth in Production of Commercial Vehicles to Drive Type 3 Segment
10.6 Type 4
10.6.1 Increased Demand for Lightweight and Fuel-Efficient Vehicles to Drive Type 4 Segment
10.7 Key Industry Insights

11 Automotive Fuel Tank Market, By Propulsion
11.1 Introduction
11.2 Research Methodology
11.3 ICE
11.3.1 Large Production Capacities for Automobiles in China and India are Expected to Drive the Market
11.4 Natural Gas Vehicle (NGV)
11.4.1 Growing Demand for CNG/LNG Vehicles in Countries Like India is Expected to Fuel the Market
11.5 Hydrogen
11.5.1 Increasing Emission Norms Across Countries to Drive the Market
11.6 Hybrid
11.6.1 Tax Rebates and Incentives on the Purchase of Hybrid Cars to Boost the Market
11.7 Key Industry Insights

12 Automotive Fuel Tank Market, By Region
12.1 Introduction
12.2 Asia Oceania
12.3 North America
12.4 Europe
12.5 Rest of the World (RoW)

13 Competitive Landscape
13.1 Overview
13.2 Automotive Fuel Tank: Market Ranking Analysis
13.3 Competitive Leadership Mapping
13.3.1 Terminology
13.3.2 Visionary Leaders
13.3.3 Innovators
13.3.4 Dynamic Differentiators
13.3.5 Emerging Companies
13.4 Strength of Product Portfolio
13.5 Business Strategy Excellence
13.6 Competitive Scenario
13.6.1 New Product Developments/Launch
13.6.2 Expansions
13.6.3 Acquisitions
13.6.4 Partnerships/Contracts
13.7 Right to Win

14 Company Profiles
14.1 The Plastic Omnium Group
14.2 Textron (Kautex)
14.3 YAPP
14.4 TI Fluid Systems
14.5 Yachiyo
14.6 Unipres Corporation
14.7 Magna International
14.8 FTS
14.9 SMA Serbatoi S.p.A.
14.10 SRD Holdings Ltd.
14.11 Asia Oceania
14.11.1 Metal Tech Co. Ltd.
14.11.2 Hwashin Co. Ltd.
14.11.3 Dali & Samir Engineering Pvt. Ltd.
14.11.4 Bellsonic Corporation
14.11.5 Crefact Corporation
14.11.6 Asno Horie
14.12 Europe
14.12.1 Donghee
14.12.2 Kongsberg Automotive
14.13 North America
14.13.1 Westport Fuel Systems
14.13.2 BOYD Welding

For more information about this report visit https://www.researchandmarkets.com/r/g0sdng

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