Fuel Tank Market Analysis by Demand, Trends & Key Players By 2025
“Asia-Pacific region, with several developing countries such as India, Japan and China is expected to be the largest market for fuel tank. Key factors influencing market growth include growing population, improving standard of living and rise in per capita income�
Fuel tanks are containers that are installed in a vehicle to store fuel and keep it safe. Fuel tanks are of categorized into two major segments as plastic and metal. Metal fuel tanks are made up of either aluminum or steel whereas plastic fuel tanks majorly consist of High Density Polyethylene (HDPE). The report has segmented the global automotive fuel tank market by fuel tank type (Plastic, Steel), by region (Asia-Oceania, North America, Europe, and RoW), automotive fuel tank material market by type (HDPE, Aluminum, Steel) and by Capacity (<45L, 45L-70L, >70L), two-wheelers (mopeds & motorcycles). Asia-Pacific region, with several developing countries such as India, Japan and China is expected to be the largest market for fuel tank. Key factors influencing market growth include growing population, improving standard of living and rise in per capita income. Additionally, China has overpowered the U.S. and become the largest carproducing nation at the global level. India, China and South Korea are the main contributors to the market growth of fuel tank market in Asia. Many OEMs have been expanding in this region to cater the huge demand of the AsiaPacific region. The North American market has emerged strong and is growing at a moderate pace. Besides, the European market, is projected to spur the automotive industry in technological advancements.
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