The Fuel Tank & Delivery System Market to Grow Owing to Increase in Vehicle Production
Added: (Mon Mar 04 2019)
Pressbox (Press Release) -
Transparency Market Research in its new report titled, “Fuel Tank & Delivery System Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the fuel tank & delivery system market. The TMR report anticipates that the fuel tank & delivery system will fuel the fuel tank & delivery system market growth during the forecast period i.e, 2018-2026. Increasingly stringent emission norms have prompted automakers to resort to light weighting solutions such as usage of plastic fuel tanks. Increased environmental awareness among consumers is also a major factor boosting the usage of light weight plastic fuel tanks, which in turn is driving the fuel tank & delivery system market. Usage of fuel rail in diesel vehicles, owing to their ability to maintain equal pressure, is driving the fuel tank & delivery system market, says the report.
According to the report, development of gasoline direct injection technology for gasoline-powered vehicles has broadened the scope of fuel rails and is thus, estimated to boost the fuel tank & delivery system market. Rising demand for fuel-efficient vehicles such as LPG/CNG vehicles is driving the need for an additional fuel storage unit. Thus, increase in demand for alternative fuel vehicles is expected to further fuel the fuel tank & delivery system market.
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The report has segmented the global fuel tank & delivery system in terms of component, fuel tank type, fuel type, vehicle type, and region. Based on component, the fuel tank & delivery system can be segmented into six segments. Fuel tank and fuel pump are leading component segments of the market. Innovative technologies such as brushless fuel pump provide precise control of fuel pressure with relatively less power consumption. This, in turn, is estimated to propel the demand for fuel pumps. In terms of fuel tank type, the fuel tank & delivery system is split into three segments. LPG/CNG fuel tanks and plastic fuel tanks segments are estimated to hold prominent position in the market. Increased demand for LPG/CNG-powered vehicles owing to the rise in prices of crude oil is estimated to drive the demand of LPG/CNG fuel tanks. Plastic being an easily moldable part with light weight is being increasingly preferred by automakers, which in turn is projected to boost the fuel tank & delivery system market.
Based on fuel type, the fuel tank & delivery system is divided into three segments. Gasoline and diesel are major segments of the market. Europe witnesses a significant penetration of diesel vehicles; and hence, the region is a highly attractive market for diesel fuel tank & delivery system. On the basis of geography, the fuel tank & delivery system is split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these, Asia Pacific, followed by Europe, are major markets for the fuel tank & delivery system due to the high production rate of vehicles in these regions. Prominent players operating in the fuel tank & delivery system are profiled in this report to give a better competitive analysis and these include DENSO Corporation, Delphi Automotive Plc, Robert Bosch GmbH, Continental AG, Magneti Marelli S.p.A, Magna International Inc., TI Automotive, and Keihin Corporation.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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