Rising Vehicle Production to Drive the Demand for Automotive Fuel Tank Market

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Fuel Tank Market by Material (Plastic, Steel
Aluminum), Capacity (lt45L, 45L-70L gt70L), by
Region (Asia-Oceania, Europe, North America
ROW), Automotive CNG Tank Market by Region, and
Automotive SCR Market by Region - Global Trends
Forecast to 2021
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High-density polyethylene fuel tanks The largest
market High-density polyethylene (HDPE) is the
key component of the plastic fuel tank. The
global demand for HDPE is very high, owing to the
considerable demand for plastic fuel tanks.
Plastic fuel tanks are broadly segmented into
three types monolayer, fluorinated, and
multilayer. The primary advantages of the plastic
fuel tank are that it is anti-corrosive,
lightweight, flexible, and impact-resistant. HDPE
fuel tanks are estimated to account for the
largest share of the global fuel tank market in
2016, owing to their high penetration in
developed regions such as North America and
Europe. The changing preferences of buyers and
the increasing technology adoption rate in
Asia-Oceania have accelerated the demand for HDPE
fuel tanks in the region. PDF Brochure
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The global automotive fuel tank market is
projected to grow at a CAGR of 5.58 from 2016 to
2021, to reach a market size of USD 17.38 Billion
by 2021. The rising global vehicle production,
growing trend of vehicle weight reduction, and
norms pertaining to evaporative emissions have
fueled the demand for automotive fuel tanks
across the globe. The 45 L70 L segment of the
automotive fuel tank market is estimated to
account for the largest market share, in terms of
value. This can be attributed to the high
installation rate of fuel tanks in the 45 L70 L
range. Fuel tanks falling under this range find
application in both, passenger cars and light
commercial vehicles (LCVs). Asia-Oceania is
estimated to be the largest market for 45 L70 L
fuel tanks, owing to the high demand for
mid-segment passenger cars in the
region. Request for Customization
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The primary objective of the study is to define
and segment the global market on the basis of
material, capacity, and region. This report also
studies the global selective catalytic reduction
(SCR) and compressed natural gas (CNG) tank
markets on the basis of region (Asia-Oceania,
Europe, North America, and the Rest of the
World). Additionally, it includes detailed
information and qualitative insights into factors
influencing the growth of this market and
opportunities offered by various segments to
stakeholders. The research methodology used in
the report involves various secondary sources,
including paid databases and directories. Experts
from related industries and suppliers have been
interviewed to understand the trends prevailing
in the automotive fuel tank market. Country-level
model mapping has been conducted for vehicles
manufactured in the particular country.
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Asia-Oceania The fastest-growing
market Asia-Oceania has emerged as a hub for
automotive production in recent times, owing to
changing consumer preferences, increasing per
capita income of the middle class population, and
cost advantages for OEMs. The region is known for
producing compact and cost-effective cars, and
given the advantages it offers, such as low
production cost, easy availability of economic
labor, lenient emission and safety norms, and
government initiatives for foreign direct
investment (FDI), the region has witnessed higher
growth than the matured markets of Europe and
North America. According to MarketsandMarkets
analysis, global automotive production is
projected to grow at a CAGR of 5.40 from 2016 to
2021, with Asia-Oceania leading the production.
These factors would accelerate the demand for
automotive fuel tanks in the region, enabling the
market to grow at the highest CAGR from 2016 to
2021. Speak to analyst _at_ https//www.marketsandma
rkets.com/speaktoanalyst.asp?id23737735
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Market Ecosystem The global market ecosystem
consists of raw material manufacturers such as
ArcelorMittal (Luxembourg), Hebei Iron and Steel
Group (China), Baosteel Group Corporation
(China), Posco Co. Ltd.  (South Korea), and Tata
Steel Ltd. (India). It also includes automotive
fuel tank manufacturers such as The Plastic
Omnium Group (France), Kautex Textron GmbH Co.
KG (Germany), YAPP Automotive Parts Co. Ltd.
(China), and TI Automotive Inc. (U.K.), vehicle
manufacturers such as General Motors (U.S.), BMW
(Germany), Toyota Motors (Japan), and Hyundai
Motors (South Korea), and regional automotive
associations such as the Society of Indian
Automotive Manufacturers (SIAM), Japan Automotive
Manufacturers Association (JAMA), and European
Automobile Manufacturers Association
(ACEA). Buy Now https//www.marketsandmarkets
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Browse gtgt 84 market data
tables 59 figures
161 pages and in-depth TOC "Fuel Tank
Market by Material (Plastic, Steel Aluminum),
Capacity (lt45L, 45L-70L gt70L), by Region
(Asia-Oceania, Europe, North America ROW),
Automotive CNG Tank Market by Region, and
Automotive SCR Market by Region - Global Trends
Forecast to 2021"  Early buyers will receive 10
customization on this report. This study
answers several questions for the stakeholders,
primarily which market segments to focus on in
the next two to five years to prioritize efforts
and investments.
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