Plastic Fuel Tanks take 80% Market Share

15-Jan-18

The "Global and China Automotive Fuel Tank Industry Report, 2017-2021" report has been added to ResearchAndMarkets.com's offering.

Global automotive fuel tank market size was about 93.50 million sets in 2016, up 3.8% year on year

Under the twin impact of steady growth in the automobile market and a rapid rise in new energy vehicle, the world's automotive fuel tank market will grow at an average rate of around 3.2% between 2017 and 2021, reaching 110 million sets in 2021.

China, a big producer of automobiles and the largest consumer of fuel tanks worldwide, had an automotive fuel tank market size of approximately 28.05 million sets, 30.0% of the world's total. The figures are expected to attain 35.76 million sets and about 32.6% in 2021.

Because of high safety, light weight, anti-corrosion and easy forming and the country's policies on auto environmental friendliness and light-weight, plastic fuel tank now takes the lion's share, up to roughly 80% worldwide and 71% in China in 2016. The share will continue to rise, expected to reach 88% globally and 81% domestically in 2021.

Against the backdrop of carmakers' stringent criteria on selection of fuel tank suppliers and strict requirements on product quality, global fuel tank market is highly concentrated, particularly in plastic fuel tank market. Top 5 global automotive fuel tank suppliers (INERGY, Kautex, YAPP, TI and YACHIYO) seized a combined 75.8% market share in 2016, of which INERGY held the largest share, about 26.7%.

The Chinese plastic fuel tank market presents a competitive landscape with YAAP as a leader and private and foreign-funded enterprises (Kautex, INERGY, TI, Jiangsu Suguang Automotive Parts and YACHIYO) co-existing. YAPP held a 40.2% market share in 2016 with total capacity of 13.60 million sets/a (by the end of Jun 2016). YAPP still makes investment and expands capacity in order to improve competitiveness. It put Yantai-based fuel tank plant into production in Aug 2017 and would expand and retrofit Chongqing-based 300,000 sets/a passenger-car plastic fuel tank lines in Sept.

Besides, foreign companies are accelerating to expand production capacity in China. In June 2016, the 900,000 sets/a plastic fuel tank project of TI Automotive (Baoding) was put into production. In March 2017, Kautex (Wuhan) put into production the fuel tank projects applying the world's cutting-edge NGFS technology, and in the meantime Kautex (Changchun) Plastics Technology Co., Ltd invested RMB300 million for capacity expansion through transformation, and till 2020 lifting its production scale from the current 430,000 sets/a to 750,000 sets/a.

As new energy vehicle becomes the development trend of automobile industry in the future, the fuel tank manufacturers have to enhance their R&D of technologies in the long run, conduct upgrades and renovation so as to be adaptive to the market and seize the initiative.

Companies Mentioned in the Report

  • Chengdu Lingchuan Special Industrial Co., Ltd.
  • Donghee
  • FTS
  • Futaba Industrial
  • Hebei Feida Auto Parts Co., Ltd.
  • Hebei Shichang Auto Parts Co., Ltd.
  • Hwashin Co., Ltd.
  • Inergy Automotive Systems
  • Jiangsu Suguang Auto Parts Co., Ltd.
  • Kautex
  • Luzhou North Chemical Machinery Manufacturing Co., Ltd.
  • Magna Steyr
  • Nanchang JianglingHuaxiang Auto Parts Co., Ltd.
  • TI Automotive
  • Tokyo Radiator Mfg. Co., Ltd.
  • WanxiangQianchao Co., Ltd.
  • Wuhu ShunrongSanqi Interactive Entertainment Network Technology Co., Ltd. (previously named as Wuhu Shunrong Auto Parts Co., Ltd.)
  • YAPP Automotive Systems Co., Ltd.
  • Yachiyo Industry Co., Ltd.
  • Yangzhou Changyun Plastics Technology Co., Ltd.

Source: GLOBE NEWSWIRE


 
  More News  Post Your Comment
{{comment.Name}} made a post.
{{comment.DateTimeStampDisplay}}

{{comment.Comments}}

COMMENTS

0

There are no comments to display. Be the first one to comment!

*

Name Required.

*

Email Id Required.

Email Id Not Valid.

*

Mobile Required.

Email ID and Mobile Number are kept private and will not be shown publicly.
*

Message Required.

Click to Change image  Refresh Captcha