Automotive Fuel Tank Market to Reach USD 20.09 Billion by 2026; Rising Environmental Issues will Spur Demand for the Market

The automotive fuel tank market size is expected to reach USD 20.09 billion by 2026. The utilization of self-sealing technology in fuel tanks because it protects and prevents leakages caused by accidents or punctures will encourage the healthy growth of the market in the forthcoming years. In addition, the surge in road accidents has led to the adoption of self-sealing by manufacturers to prevent leaking of flammable fluids and avoid major mishaps will spur business opportunities for the market in the forthcoming years, mentioned in a report, titled “Automotive Fuel Tank Market Size, Share & Industry Analysis, By Capacity Type (Less than 45L, 45L-75L, and Greater than 75L ), By Material Type (Plastic and Metal), By Vehicle Type (Passenger Car, Light Commercial Vehicle, and Heavy Commercial Vehicle) and Regional Forecasts, 2019-2026” the market size stood at USD 16.64 billion in 2018 and is predicted to exhibit a CAGR of 2.38% between 2019 to 2026.

Contract Won by Plastic Omnium for Hydrogen Tanks to Lighten Business Prospects

Plastic Omnium, a French automotive supplier specializing in the manufacturing of plastics announced that it has won a contract for 350-bar hydrogen tanks from a German automotive company. The contract involves the supply of equipment for buses and is asserted to be the biggest project in Europe for this type of vehicle. The contract bagged by Plastic Omnium can be an essential factor in generating favorable business outcomes in the foreseeable future owing to the attainment of the first certificate for a 700-bar hydrogen storage tank designed for passenger cars. The R134 certifications an international standard that ensures meeting “the strictest specifications of high-pressure hydrogen tanks regulation. Furthermore, the company also announced the two strategic acquisitions in the field of propulsion by hydrogen fuel cells, which will help the company to elevate its presence in the industry. For instance, the acquisition of Swiss Hydrogen and Belgium-based Optimum CPV, a leading equipment supplier for propulsion energies by Plastic Omnium. In addition, the increasing acquisitions and partnerships among leading companies will consecutively promote the growth of the market.

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Rising Concerns regarding Carbon Emissions to Amplify Market Scope

The rising concerns about the carbon emissions in vehicles have led to the development of fuel-efficient and lightweight automotive. The increasing R&D in the development of advanced technology in automobiles to reduce the weight of vehicles will have a positive impact on the market. The discovery of new alternatives to reduce the fuel emission to cater to the need of the high performance and low emission vehicles will further create lucrative business for the market. Moreover, the rising government initiatives to tackle environmental degradation and endorsement for the use of low-emission vehicles will stimulate the growth of the market. For instance, the BS-VI emission norm imposed by the Government of India to control air pollution. Such initiatives and plans by the government will augur well for the market.

Kautex Textron to Steer the Industry with its Advanced Fuel Tanks

Kautex Textron dominated the market in 2018 and is predicted to remain leading the position in the global automotive fuel tank market during the forecast period. The introduction of blow-molded fuel tanks and technologically advanced systems for cars and light trucks such as pressurized fuel tanks for hybrid applications by the company will strengthen its position in the market. The company has plans for various alternatives to better serve its customers alongside its present product offerings. The ongoing R&D activities by the OEMs have led to technological advancements in fuel tanks, which, in turn, will consolidate the market. Nonetheless, Continental AG and Yachiyo have also maintained their positions in the market with other prominent companies. In addition, the rising strategic acquisitions and partnerships by key players will bolster the growth of the market in the forthcoming years.

The Reports Lists the Main Companies in this Market:

• Yachiyo Industry Co., Ltd.(Japan)


• Continental AG(Germany)


• Kautex Textron GmbH & Co. KG(Germany)


• TI Automotive Inc. (U.K)


• Magna International Inc.(Canada)


• YAPP Automotive Parts Co. Ltd.(China)


• SMA Serbatoi S.P.A. (Italy)


• The Plastic Omnium Group (France)


• Martinrea International Inc. (Canada)


• Unipres Corporation (Japan)

Further Report Findings:

• Regional Analysis: The market in Asia Pacific stood at USD 3.01 billion in 2018 and is likely to hold the largest share in the global automotive fuel tank market owing to the rising sales and production of automotive in the developed and developing nations such as India, China, Japan, and South Korea.


• Leading Segment: The less than 45 liters capacity is predicted to hold the largest share during the forecast period owing to the rising demand for passenger cars. The majority of the passenger cars such as hatchbacks and sedans fall under the category with a fuel tank capacity of less than 45 liters.

The Market is Segmented into: