USD 4.88 Bn growth in Fuel Tank Market | Driven by Growing Preference for M&HCVs to Transport Freight | Technavio

NEW YORK, Nov. 2, 2021 /PRNewswire/ — The global fuel tank market size is expected to grow by USD 4.88 billion…

NEW YORK, Nov. 2, 2021 /PRNewswire/ — The global fuel tank market size is expected to grow by USD 4.88 billion between 2020 and 2025, progressing at a CAGR of almost 4% during the forecast period, according to Technavio.

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Allgaier Werke GmbH, Continental AG, Magna International Inc., Martinrea International Inc., Sakamoto Research and Development Holdings Ltd., Textron Inc., TI Fluid Systems Plc, Unipres Corp., Yachiyo Industry Co. Ltd., and YAPP Automotive Systems Co. Ltd. are some of the major market participants.

Although the growing preference for medium and heavy commercial vehicles (M&HCVs) to transport freight will offer immense growth opportunities, increasing popularity and sales of commercial electric vehicles will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Our fuel tank market report covers the following areas:

Fuel Tank Market 2021-2025: Segmentation

Fuel Tank Market is segmented as below:

  • Application
    • Automotive
    • 2-wheeler
    • Aircraft
  • Geography
    • APAC
    • Europe
    • North America
    • South America
    • MEA

The automotive segment generated maximum growth in the market in fuel tank market in 2020. The market growth in the segment will be significant during the forecast period. By geography, APAC will witness maximum growth during the forecast period. The region currently holds 40% of the global market share. China is the key market for fuel tanks in APAC.

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Fuel Tank Market 2021-2025: Scope

Technavio presents a detailed picture of the fuel tank market by the way of study, synthesis, and summation of data from multiple sources.

This study identifies the correlation between vehicle weight and fuel consumption drive as one of the prime reasons driving the fuel tank market growth during the next few years.

Fuel Tank Market 2021-2025: Vendor Analysis

We provide a detailed analysis of around 25 vendors operating in the Fuel Tank Market. Backed with competitive intelligence and benchmarking, our research report on the Fuel Tank Market is designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.

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Fuel Tank Market 2021-2025: Key Highlights

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will assist fuel tank market growth during the next five years
  • Estimation of the fuel tank market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the fuel tank market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of fuel tank market vendors

Related Reports:

Global Light Commercial Vehicle Market
 – Global light commercial vehicle market is segmented by type (conventional fuel vehicles and alternative fuel vehicles) and geography (North America, APAC, Europe, South America, and MEA).

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Global All-terrain Vehicle Market – Global all-terrain vehicle market is segmented by type (sports ATV, utility ATV, and snowmobiles) and geography (North America, Europe, APAC, MEA, and South America).

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Fuel Tank Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of almost 4%

Market growth 2021-2025

USD 4.88 billion

Market structure

Fragmented

YoY growth (%)

4.12

Regional analysis

APAC, Europe, North America, South America, and MEA

Performing market contribution

APAC at 40%

Key consumer countries

US, China, Germany, UK, and Japan

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Allgaier Werke GmbH, Continental AG, Magna International Inc., Martinrea International Inc., Sakamoto Research and Development Holdings Ltd., Textron Inc., TI Fluid Systems Plc, Unipres Corp., Yachiyo Industry Co. Ltd., and YAPP Automotive Systems Co. Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research

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Email: media@technavio.com

Website: www.technavio.com/

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SOURCE Technavio