Fuel Tank Market by Material, Capacity, Region 2021
                     MarketsandMarkets 
Presents
Fuel Tank Market by Material, 
Capacity, Region 2021
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The global Automotive Fuel Tank Market is expected to grow from USD 
13.25 billion in 2018 to USD 17.38 billion by 2021 at a CAGR of 5.58%. 
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.
Fuel tank is a container or reservoir to carry the fuel used by the vehicle. 
Fuel is stored in the tank and is supplied to an engine through a fuel 
pump. Apart from fuel tank, there are also other tanks that are equipped 
in a vehicle depending on the requirement, namely, SCR and CNG tank. 
Selective catalytic reduction is an advanced emission control technology 
that injects a liquid reductant into the exhaust stream of the diesel 
engine. This liquid agent is generally called as diesel exhaust fluid (DEF). 
The DEF is carried in a tank called the SCR tank located under chassis or 
frame of a vehicle. CNG can be used in place of gasoline or diesel fuel in 
automobiles. The tank in which compressed natural gas is stored is 
known as CNG tank.
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The high-density polyethylene (HDPE) segment of the automotive fuel 
tank market is estimated to have the highest growth potential. It is 
projected to grow at a promising CAGR during the forecast period. This 
growth can be attributed to HDPE’s proven benefits of vehicle weight 
reduction and low cost. Upcoming fuel-efficiency standards, such the 
Corporate Average Fuel Economy (CAFE) standards, are propelling the 
demand for plastic fuel tanks, which are manufactured using HDPE. 
These fuel tanks offer various advantages, such as higher corrosion 
resistance, better fire resistance, and better crash test performance, 
than conventional steel and aluminum fuel tanks. These factors are 
estimated to drive the demand for HDPE fuel tanks in coming years.
The 45 L–70 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 L–70 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 L–70 L fuel tanks, owing to the 
high demand for mid-segment passenger cars in the region.
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Asia-Oceania is also estimated to be the largest market for automotive 
fuel tanks during the forecast period. This can be credited to the 
presence of countries such as China, which is the largest vehicle 
producer in the world, and India, which is emerging as a key automobile 
production hub for OEMs. Furthermore, the region is the largest vehicle 
producer in the world; this trend is expected to continue during the 
forecast period.
The global fuel tank 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).
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