New York, US, May 16, 2022 (GLOBE NEWSWIRE) — Automotive Fuel Tank Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Automotive Fuel Tank Market” information by Material, by Capacity, by Vehicle Type and Region – Forecast to 2027″ market size to grow at a compound annual growth rate of 5.65% by 2027.
Dominant Key Players in Automotive Fuel Tank Market Covered are:
- Plastic Omnium Group (France)
- Kautex Textron GmbH & Co. KG. (Germany)
- YAPP Automotive Parts Co. Ltd. (China)
- TI Automotive Inc. (U.K.)
- Magna International (Canada)
- Unipres Corporation (Japan)
- Continental (Germany)
- Lyondell Basell (Netherlands)
- Yachiyo (Japan)
- Allgaier Automotive (Germany)
- Boyd Welding (Florida)
- Dali and Samir Engineering (India)
- Martinrea International (Canada)
- Posco co. Ltd (South Korea)
- Baosteel group corporation (China)
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Automotive Fuel Tank Market Drivers
Soaring preference for lightweight vehicles with higher fuel efficiency, rising vehicle production, and fast-paced urbanization are the top factors elevating the demand for automotive fuel tanks. The market demand is further bolstered by the escalating sales of commercial vehicles, in line with the consistently expanding e-commerce sector, which resulted in the growth of the logistics industry as well as the construction sector.
Manufacturers worldwide are using plastic fuel tanks in place of metal fuel tanks to bring down the total vehicle weight, with the aim to cater to the surging demand and cater to the discerning consumer demands and requirements. Plastic fuel tanks offer several inherent benefits over metal fuel tanks, which elevates their popularity within the automotive fuel tank market. Therefore, plastic is now a more preferrable material than any other material for developing fuel tanks.
Browse In-depth Market Research Report (100 Pages) on Automotive Fuel Tank…