Automotive Fuel Tank Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The Automotive Fuel Tank Market is Segmented by Capacity (Less than 45 liters, 45–70 liters, and Above 70 liters), Material Type (Plastic, Aluminum, and Steel), and Geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa). The Report Offers Market Size and Forecast for the Automotive Fuel Tank Market in Value (USD billion) for the Above-mentioned Segments.

Automotive Fuel Tank Industry Overview

Automotive Fuel Tank Market Summary
Study Period: 2018 - 2028
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: 4.2 %

Major Players

Automotive Fuel Tank Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Automotive Fuel Tank Market Analysis

The automotive fuel tank market was valued at USD 20.5 billion in 2020. It is projected to reach USD 27.4 billion by 2026. The market is poised to register a CAGR of 4.2% during the forecast period.

The COVID-19 pandemic has negatively impacted the economies worldwide and the impact has been felt by all the industries. However, the automotive industry has been significantly hit hard by the pandemic. Challenges that emerged from the worldwide lockdowns are immense and insurmountable in many areas. The automotive industry has faced many supply chain disruptions due to lockdowns. As the situation is returning to normalcy, the market is expected to recover and grow positively during the forecast period.

Growing demand for lightweight vehicles for fuel efficiency, increasing vehicle production, and rapid urbanization are the key drivers that are expected to drive the market growth in the coming years. One of the major factors driving the growth of the market is the increasing demand for, and sales of, commercial vehicles, owing to the rise in the e-commerce sector resulting in the growth of the logistics industry and the construction sector. However, factors such as growing penetration and demand for electric vehicles and rising prices of base metals, like aluminum, may hinder the growth of the market studied.

Manufacturers across the world are substituting metal fuel tanks with plastic fuel tanks to reduce the vehicle weight, in order to fulfil the growing demand and satisfy the discerning customer requirements. Plastic fuel tanks have many inherent advantages over metal fuel tanks, which is augmenting their popularity in the automotive fuel tank market. As a result, plastic has become more preferred than any other material for building fuel tanks.

Automotive Fuel Tank Industry Segments

The automotive fuel tank market is segmented by capacity, material type, and geography.

By capacity, the market is segmented into less than 45 liters, 45–70 liters, and above 70 liters. 

By material type, the market is segmented into plastic, aluminum, and steel. 

and By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East and Africa.

By Capacity
Less than 45 liter
45-70 liter
Above 70 liter
By Material Type
North America
United States
Rest of North America
United Kingdom
Rest of Europe
Rest of Asia-Pacific
South America
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
United Arab Emirates
Rest of Middle-East and Africa

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Automotive Fuel Tank Market Trends

This section covers the major market trends shaping the Automotive Fuel Tank Market according to our research experts:

The 45-70 liter Fuel Tank Segment is Expected to Dominate the Automotive Fuel Tank Market

The 45-70 liter fuel tank segment of the market studied is expected to register a CAGR of over 4.8% during the forecast period. Most of the new vehicle models launched by automobile manufacturers over the past five years had a minimum tank capacity of 45 liters, to meet the growing demand for vehicles that are well suited for long journeys and have greater mileage range. Apart from this factor, large capacity fuel tanks help in occupying the dead space available within the chassis of the vehicle. Moreover, with the additional weight, they add stability to the car’s dynamics.

Most of the compact cars are equipped with 45-liter fuel tanks while most sedans are equipped with a fuel tank capacity between 45-70 liters. The SUVs require fuel tanks with a capacity above 70 liters. As many countries, such as Japan, China, India, Germany, France, and Spain, are seeing demand for more sedan cars, the 45-70 liter capacity is estimated to be the largest market. The SUVs and other commercial vehicles have demand in the United States, China, and Germany. Hence, these regions are expected to drive the above 70-liter segment of the market studied.

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Asia-Pacific Dominates the Automotive Fuel Tank Market and is Expected to Witness the Fastest Growth Rate

Asia-Pacific is expected to witness the fastest CAGR of 4.52% during the forecast period. The automotive sector in both developed and emerging countries in the region is witnessing an expansion, supported by the increasing demand for passenger cars. China and India have been the prime contributors to vehicle sales in Asia-Pacific.

In Asia-Pacific, in 2020, China dominated the regional market and accounted for 64.12% share of the total market, followed by Japan and India. China is one of the major manufacturers of vehicles, globally. The increased sales of vehicles in the country are expected to drive the automotive fuel tank market. Despite the pandemic, in 2020, vehicle sales totaled 25.31 million in China, just down by 1.9% Y-o-Y.

Owing to the increasing sales of mini and medium segment cars, India is expected to play a crucial role in the overall market during the forecast period. In 2020, India sold about 2.77 million vehicles. In Japan, domestic automobile production witnessed a steady rise over the past decade, owing to the weaker Japanese Yen and a stronger global market for the automotive industry. In 2020, all vehicle sales grew to reach 4,598,615 units.

Automotive Fuel Tank Market : Growth Rate by Region (2021-2026)

Automotive Fuel Tank Market Competitor Analysis

The automotive fuel tank market is highly dominated by few players that hold more than 70% of the market share, due to their developed products and a network of various automobile manufacturers. These include Compagnie Plastic Omnium SA, Kautex Textron GmbH & Co. KG, YAPP Automotive Parts Co. Ltd, TI Fluid Systems, Yachiyo Industry Co. Ltd, and Magna International Inc.

Other players, like Martinrea, hold a small market share. New developments, in terms of material and design, are likely to help the market leaders increase their market share, while new and small players may increase their market presence.

Automotive Fuel Tank Market Top Players

  1. Compagnie Plastic Omnium SA

  2. Kautex Textron GmbH & Co. KG

  3. Yachio Industry Co. Ltd

  4. TI Fluid Systems

  5. Magna International Inc.

*Disclaimer: Major Players sorted in no particular order

Automotive Fuel Tank Market Concentration

Automotive Fuel Tank Market Recent Developments

  • In June 2021, TI Fluid Systems, the supplier of automotive fluid systems technology, launched new fluid handling products for fuel systems on the 2021 Hyundai Santa FE SUV hybrid electric vehicle (HEV). This Hyundai HEV application demonstrates the company’s ability to optimize systems with lightweight solutions for improved EV mode efficiency.
  • In January 2021, TI Fluid Systems announced its decision to provide a new generation of plastic fuel tank design capable of meeting the stringent pressure demands within a hybrid electric vehicle (HEV). Recently, this plastic fuel tank launched in volume production with Volkswagen China on the Passat and Magotan plug-in hybrid electric vehicle (PHEV) models, with a planned adoption across a wider range of global platforms.

Automotive Fuel Tank Market Report - Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Market Driver

    2. 4.2 Market Restraint

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry


    1. 5.1 By Capacity

      1. 5.1.1 Less than 45 liter

      2. 5.1.2 45-70 liter

      3. 5.1.3 Above 70 liter

    2. 5.2 By Material Type

      1. 5.2.1 Plastic

      2. 5.2.2 Aluminum

      3. 5.2.3 Steel

    3. 5.3 Geography

      1. 5.3.1 North America

        1. United States

        2. Canada

        3. Rest of North America

      2. 5.3.2 Europe

        1. Germany

        2. United Kingdom

        3. France

        4. Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. China

        2. Japan

        3. India

        4. Rest of Asia-Pacific

      4. 5.3.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. Saudi Arabia

        2. South Africa

        3. United Arab Emirates

        4. Rest of Middle-East and Africa


    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Magna International Inc.

      2. 6.2.2 Compagnie Plastic Omnium SA

      3. 6.2.3 TI Fluid Systems

      4. 6.2.4 Unipres Corporation

      5. 6.2.5 Kautex Textron GmbH & Co. KG

      6. 6.2.6 YAPP Automotive Parts Co. Ltd

      7. 6.2.7 Fuel Total Systems (FTS) Co. Ltd

      8. 6.2.8 SMA Serbatoi SpA

      9. 6.2.9 Yachiyo Industry Co. Ltd

      10. 6.2.10 SRD HOLDINGS Ltd


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Automotive Fuel Tank Market Research FAQs

The Automotive Fuel Tank Market is studied from 2018 - 2028.

The Automotive Fuel Tank Market is growing at a CAGR of 4.2% over the next 5 years.

The Automotive Fuel Tank Market is valued at 20 Billion USD in 2018.

The Automotive Fuel Tank Market is valued at 27 Billion USD in 2028.

Asia Pacific is growing at the highest CAGR over 2018 - 2028.

Asia Pacific holds highest share in 2021.

Compagnie Plastic Omnium SA, Kautex Textron GmbH & Co. KG, Yachio Industry Co. Ltd, TI Fluid Systems, Magna International Inc. are the major companies operating in Automotive Fuel Tank Market.

Automotive Fuel Tank Industry Report

In-depth industry statistics and market share insights of the Automotive Fuel Tank Market sector for 2020, 2021, and 2022. The Automotive Fuel Tank Market research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Automotive Fuel Tank Market report PDF.

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