Worldwide Automotive Fuel Tank Industry to 2026 – Featuring TI Automotive, Yachiyo Industries and Magna International Among Others – MENAFN.COM

Worldwide Automotive Fuel Tank Industry to 2026 – Featuring TI Automotive, Yachiyo Industries and Magna International Among Others – MENAFN.COM

(MENAFN - PR Newswire) DUBLIN, May 12, 2021 /PRNewswire/ -- The report has been added to ResearchAndMarkets. com's offering. The global automotive fuel tank market exhibited moderate growth during 2015-2020. An automotive fuel tank is a component of an automobile engine system that is used to store, propel and release pressurized gas or fluid into the engine. It is also used for fuel level detection, secured filling, venting, evaporating emissions and avoiding fuel leakages. The effectiveness of a fuel tank depends upon its size, complexity and the material used for the manufacturing process. Fuel tanks are made using both metal and plastic materials. Plastic tanks are primarily used in sedans, multi-purpose vehicle (MPV) and sports-utility vehicles (SUV), and metal tanks are used in commercial and cross-passenger vehicles. Growing industrialization along with a significant increase in the manufacturing and sales of automobiles is a key factor driving the market growth. The automotive sector in both developed and emerging countries is witnessing an expansion, supported by the increasing demand for passenger cars. Furthermore, governments across the globe are implementing regulations emphasizing on emission control and improved fuel economy, thus intensifying the production of high-quality fuel tanks. Additionally, technological advancements such as the