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.
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:
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.
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.
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
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Fuel Tank Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of almost 4%
Market growth 2021-2025
USD 4.88 billion
YoY growth (%)
APAC, Europe, North America, South America, and MEA
Performing market contribution
APAC at 40%
Key consumer countries
US, China, Germany, UK, and Japan
Leading companies, competitive strategies, consumer engagement scope
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.
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.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
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