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Automotive Fuel Tank Market Trends

Report ID: GMI11914
Published Date: Oct 2024
Report Format: PDF

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Automotive Fuel Tank Market Trends

The Internet of Things (IoT) is revolutionizing automotive fuel tanks, leading to the integration of "smart" fuel systems. These advanced tanks feature sensors and connectivity that provide real-time data on vehicle fuel delivery, quality, and system performance. This data can be transmitted to the vehicle's onboard computer and cloud-based systems for remote monitoring.

Smart fuel tanks optimize fuel consumption, predict maintenance needs, and enhance vehicle efficiency. Some systems can even detect fuel theft or tampering. This trend aligns with the broader move towards connected and autonomous vehicles. As vehicle technology advances, we expect more sophisticated IoT integration in fuel tanks, including predictive analytics and navigation system integration for optimized refueling planning.

The rise of alternative fuels like ethanol blends and biodiesel presents challenges for fuel tank design and material selection. Variations in fuel compositions can impact the durability and performance of tank materials, leading to potential degradation and permeation issues. Manufacturers must develop fuel tanks compatible with a wide range of current and future fuel formulations. This requires extensive testing, validation, and the ability to quickly adapt designs and materials. Additionally, regional differences in fuel standards necessitate producing tanks that perform reliably across diverse global markets.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The global market for automotive fuel tank was reached USD 17.6 billion in 2023 and is projected to grow at a 4.7% CAGR from 2024 to 2032, driven by increased vehicle production in emerging markets.

The 45-70 liters fuel tank segment accounted for over 55% of the market share in 2023 and is expected to cross USD 13 billion by 2032, as consumers prioritize vehicle range in their purchasing decisions.

The plastic segment in the automotive fuel tank market is projected to exceed USD 18 billion by 2032, driven by automakers' focus on vehicle weight reduction to enhance fuel efficiency and meet emissions regulations.

China accounted for over 40% of the automotive fuel tank market in 2023, with manufacturers developing lightweight fuel tanks to improve fuel efficiency and comply with strict emissions standards.

Key players in the industry include Donghee, Fuel Total Systems, Kautex (Textron), Magna International, Motherson Yachiyo Automotive Systems, OPmobility, SRD Holdings, TI Fluid Systems, Unipres Corporation, and YAPP Automotive Systems (SDIC Group).