With production of automobiles on the rise, there would be no stoppage to growth of automotive fuel tanks market in the next few years. Persistence Market Research has walked through these facts with subsequent steps to be taken in its latest market study entitled “Automotive Fuel Tanks Market”.
How is the Automotive Fuel Tanks Market segregated?
The global automotive fuel tanks market, by fuel and material type, spans conventional fuel (plastic tank and metal tank) and alternative fuel (type 1, type 2, type 3, and type 4). By sales channel, it’s OEM and aftermarket. By vehicle type, it’s passenger car, LCV, and HCV. Persistence Market Research has entailed these facts with future prospects in its latest market study entitled “Automotive Fuel Tanks Market”.
North America holds a significant market share due to higher volume of the commercial vehicles playing all across the US and Canada. Also, the governments are pretty stern regarding incorporating norms regarding fuel emission. Europe follows suit. However, the Asia-Pacific is expected to grow at the fastest rate in the automotive fuel tanks market. This could be reasoned with speedy urbanization, enhancement in infrastructure, expanding industrialization in the countries like India and China. Persistence Market Research has sketched these facts with future perspectives in its latest market study entitled “Automotive Fuel Tanks Market”.
Persistence Market Research has enlisted the key players in automotive fuel tanks market as Kautex Tectron GmbH & Co KG, Plastic Omnium SA, Westport Fuel Systems Inc., Magna International Inc., TI Automotive Ltd., YAPP Automotive Parts Co., Ltd., Benteler International AG, Kongsberg Automotive, Toyoda Gosei Co., Ltd., Visteon Corporation, Allgaeir Werke GmbH, Donghee Industrial Co., Ltd., FTS Co. Ltd., Futaba Industrial Co., Ltd., Hwashin Co., Ltd., Martinrea International Inc., Northside Industries, SMA Serbatoi SpA, Spectra Premium Inc., Yachiyo Industry Co., Ltd., and likewise.
Persistence Market Research has also gone further with mentioning about the key developments in this regard. For instance – Plastic Omnium, in October 2020, along with ElringKlinger, inked an agreement for using hydrogen-based fuel cell technology for creating EKPO Fuel Cell Technologies. It would be looked upon as joint venture for fuelling stack development and commercialization. TI Fluid Systems, in May 2021, did launch the ITMa (Inteegrated Thermal Manifold assembly). It makes way for lightweight, one-piece, blow-molded plastic manifold for optimizing complex line design and replacing multiple line bundle assemblies comprising thermal loops. This is inevitable to heat and cool next generation electric vehicles.
The Way Ahead
The global automotive fuel tanks market is slated to grow along a grand note in the next 10 years – Persistence Market Research
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